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Select Board authorizes Vanguard agent to monitor Shattuck Hill investments
Summary
The board signed a Vanguard agent authorization allowing Terry Lucas to track Shattuck Hill investments and make recommendations; the fund was reported up 8% in the last six months.
The Derby Select Board signed a Vanguard agent authorization form on July 20 to allow Terry Lucas to track the performance of the Shattuck Hill investments and make recommendations to the board. Brian Smith moved to sign the form; the motion passed unanimously.
Board members were told the current fund is up 8% over the last six months. The authorization establishes a formal channel for the person named on the form to monitor account performance and communicate recommended actions back to the board. The minutes do not identify whether the authorization grants trading authority or is limited to reporting and recommendation.
