Canaan trustees review scholarship distributions, Williams Field Fund request and plan investment meeting with Bar Harbor

Canaan — At their April 15 meeting the Trustees of the Trust Fund reviewed the administration of five scholarships the trustees manage, discussed a resident request to seek Williams Field Fund money for field repairs, and agreed to schedule the annual investment review with Bar Harbor Bank and Trust.

Trustee Cindy Neily provided an overview of how scholarship funds have historically been distributed, summarizing the five scholarships the trustees administer and the general practice for awarding proceeds. Trustee Nick Lavalley asked for clarification on distribution procedures during the discussion.

Cindy Neily also reported correspondence from Canaan resident Stephanie Daigle, who indicated an interest in requesting Williams Field Fund money to fill divots and make the field safer for play. Neily explained that the Selectboard and the Recreation Committee determine whether work is approved and that Dana and Michelle Rose administer distributions from the Williams Field Fund; she advised Daigle to prepare a work proposal for the Selectboard and, if approved, submit a grant request to the fund so the town could perform the work and be reimbursed.

The trustees also agreed to set the annual investment review with Bar Harbor Bank and Trust in place of either the July or August meeting to ensure the trustees’ investment strategy remains aligned with town policy. During a separate records discussion, Trustee Lavalley presented 2004 Charter Trust Company forms listing perpetual care lots; Trustee Colleen Bryson Johnston recorded a subaccount number and will contact Lynne Ford to obtain additional information following Bar Harbor Bank and Trust’s acquisition of Charter Trust.

The trustees scheduled their next meeting for May 20, 2026, at 5:00 p.m. at Canaan Town Hall.