Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Administration topic
No spam. Unsubscribe anytime.
Needham trust fund panel approves minutes, discusses advisor transition and RFP timing
Summary
The commissioners approved previous meeting minutes, acknowledged a long-serving commissioner’s final meeting, discussed scheduling and a potential RFP for an investment manager, and heard that the current external advisor is retiring and handing municipal duties to Dave Schiller.
The Town of Needham’s Commissioners of Trust Funds approved the prior meeting’s minutes, heard an acknowledgment of Commissioner Joe Scalia’s final meeting, and discussed administrative follow-ups including meeting scheduling and the possible timing of a request for proposals (RFP) for an investment manager.
At the start of the business portion, a commissioner moved to approve the minutes from the previous meeting; the motion carried by voice vote and minutes were recorded as approved. Later in the session commissioners moved to adjourn and the final roll call recorded five ayes.
Commissioners Burns and Constantino read a formal acknowledgment noting that Joe Scalia had served the commission for 19 years and that his advocacy helped maintain the commission as an elected office. The commissioners requested that the statement be added to the minutes word for word.
On schedule and staffing matters the group discussed dates for the May meeting and tentative availability. Commissioners discussed a wide set of possible dates (May 15–20 were raised during the conversation) and asked staff to post a tentative date and contact the incoming commissioner once contact information is available.
On procurement, commissioners discussed the option of issuing an RFP for investment management services. The group recalled a prior RFP that produced one respondent who was not retained; the presenter said the commission may issue an RFP any time it is dissatisfied with performance but noted that some commissioners prefer to wait until market volatility moderates before seeking a new manager.
Administrative follow-ups recorded in the meeting: staff will circulate contact details and the updated IPS to the investment firm; the wired-transfer agreement must be completed and returned; and staff will post meeting notices once dates are finalized.
Formal actions recorded in the transcript: • Motion to approve the minutes from the prior meeting — moved and seconded; approved by voice vote (tally not specified in transcript). • Motion to adjourn — seconded and approved by voice vote; final roll call recorded five ayes.
The commission did not make any appointment decisions at this meeting; the incoming commissioner was discussed as needing to be sworn in by the town clerk before taking any official acts.
