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Southborough committee creates Stephanie Ranieri memorial scholarship, authorizes administrator and directs funds to money-market
Summary
The Town of Southborough scholarship committee voted unanimously to create a scholarship in memory of Stephanie Ranieri, name an administrator to sign payables and place any proceeds in a money-market account; committee also approved minutes from prior meetings.
At a regular meeting, the Town of Southborough scholarship committee voted unanimously to create a new scholarship in memory of Stephanie Ranieri, authorized Brian Ballantine to sign scholarship payables, and directed that any proceeds be held in a simple money‑market account rather than invested in a pooled portfolio.
The committee chair opened the discussion by notifying members that the donor family had asked that the award be named the “Stephanie Ranieri Scholarship.” "The first vote we need to take is, voting to create the new scholarship in memory of Stephanie," the chair said, prompting a…
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