Trustees of Trust Funds

The mission of this group is to oversee the trust funds of North Reading as reported in the Town Report. Specifically, the group:

  • Reviews the quarterly trust fund statements provided by the Town Treasurer for performance, consistency and accuracy.
  • Meets each spring to recommend the amount of each scholarship award available for graduating North Reading High School (NRHS) students, based on conditions of the trust and available earnings in each fund, generally as of December 31 of the previous year. The group provides this information to the NRHS Scholarship Committee or, in some cases, the School Committee, along with a Term Sheet with qualifications for candidates and instructions. Upon request, they notify the trust fund donors regarding the names and amounts of scholarships awarded.
  • Annually reports fund balances and other pertinent information to the administrators of other trust funds (not under its administration).
  • Meets with and assists donors who desire to establish new trust funds.
  • Ensures that trust fund governing documents are preserved in digital format with town records.
  • Researches to recover or establish governing documents for all trust funds as needed.
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