City of Portsmouth, New Hampshire Trustees of Trust Funds, 15 Nov 2022

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11.15.2022 Trustees of Trust Funds

A

Entertain a motion to improve the minutes of last month's meeting, so second, any uh corrections.

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Additions changes at all hearing that I'll call the question we have to do a roll call peter yes,.

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Dana and the chair votes. Yes all right! So with that we're going to uh welcome tom and uh he's.

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Gonna make his predictions for the basketball team for this this winter, we're all assuming another.

A

State championship is in line, I'm extremely optimistic always, but I don't know this year.

B

I assume judy probably gave you a sense as to why we invited you here to talk about this mccann.

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The question received.

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So I thought we would just jump into that. Let me try to give an overview.

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And then peter dana can add to it and then we'll try to answer your questions.

A

So tommy mccann was a portsmouth resident who passed away almost year and a half two years ago.

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And in his will he left uh uh what what we in the law is considered or labeled the rest residue and.

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Remainder of his estate, which meant that, after giving certain specific monetary bequest to.

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uh Individuals he gave the balance of the state to the trustees of trust fund, specifically.

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uh Because he's the trust funds to be distributed, free of any trust by the probate court and held by.

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The trustees to be used by them and at that discretion, to support the athletic programs.

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That portsmouth high school and carrying out these instructions, it is my request that the trustees.

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Consider using these funds to maximize athletic opportunities for underprivileged students who.

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Might otherwise not be able to participate in sports? We're happy to provide you with.

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A copy of this, if you like, okay, yeah, thank you it's uh that language is on page two section d.

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uh So as it turns out uh that rest, residue and remainder was about 135 thousand dollars,.

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We received it in september, it has now been uh included in our investments and uh this bequest.

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Is a little different than some of the ones that we are most of the ones that we administer, which.

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Are in the nature of scholarship funds, because those are sums that go directly to uh students who.

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uh The recipients are chosen by the high school, the guidance counselor teachers, principal and so.

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um We've we've reviewed this and we've interpreted this to suggest that these funds.

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Should be used not to not as part of the general operating budget for the athletic department.

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But specifically, to assist those underprivileged, any underprivileged students who, for whatever.

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Reason can't fully, you know, afford or participate in athletics at the high school. Okay.

A

It's and and we're given that discretion under the terms of the of the well.

A

And so uh what we? One of the reasons we want to invite you in was to let you know about this.

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Answer any questions you have about it and then discuss what type of mechanism or or procedure.

A

We would want to use if you thought that you had some students who would be benefited by this sure.

A

um Any corrections or comments on that summary. No, that summary, is fine but judy.

C

Where is the money today? Money today has is in the investment funds, with td.

A

Joe, I don't know if, if we don't have any other funds right now, that are like this.

A

uh I don't know if there has been any in the past that you might have been aware of, but.

A

Are kind of my question and dana and peter can add to their own, is? Are there programs.

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Right now, as part of the athletic department that uh maybe because they require a student.

A

Activity fee or something like that, some students are unable to participate in.

B

At this time, no there's we don't have any. um We anything that's required if kids had to pay for.

B

Equipment or something like that and couldn't pay for it, we would find the money for it, but.

B

As far as most of the athletics that programs that we have right now, there's no pay to play or.

B

um User fee for any of the student athletes, so um we're kind of going into that issue right now with.

B

Skiing, our ski team is really starting to evolve and grow, and we've won a few championships now.

B

Where that started, I think off, maybe eight years ago, seven years ago, where we had one.

B

Wait: two student athletes said piggyback with st thomas, but they had to represent portsmouth.

B

And then that's become now where we have, I think 28 kids pre-registered for the sport this year.

B

Which is crazy, um so the coach was looking for more opportunities to um uh be on the mountain.

B

So you know he's looking at tuesday. This is just, for instance. This is no no, but um like tuesday.

B

Thursday, after school they were going to use gun stock. He suggested you know. Is there a way.

B

For us to ask parents to have their kids get ski passes at gun stock, so the fee we wouldn't have.

B

To pay, because right now we don't have that in our budget. You know, as this ski team has grown.

B

um And we said: no, we can't we, you know we're not going to require anybody to.

B

Pay, however, a lot of the kids on the ski team aren't necessarily.

B

um I might say: they're not underprivileged, they, you know, I'm pretty sure they're. If.

B

They're at that point on a ski racing team that means they've been skiing, their whole lives so.

B

I was a hockey parent same thing, you know, if somebody told me am I taped right now, dana's.

B

Gonna catch me on this one, but if you know if they, if they would have told me that I would pay for.

B

um My kid to play hockey at the high school um I wouldn't have batted an eye just because of what I.

B

Paid for the ice time through the youth leagues, um do you guys mind if I just go back just a second.

B

I know that we don't run time than anything. I don't know I've been here 30 years, I'm just I.

B

Don't I know the name tommy mccann, but can I just get a little history on him and or does anybody.

B

It's it's the family or I mean, are they local now or anybody? His nickname was maka mccann yeah. If I.

B

Mean I've heard stories before so that's why this is incredible, but I don't I I mean I'm just trying.

B

To you remember, you've been here long enough: it was a mccann in the police department, yeah.

C

Which would have been father or of this guy um and I went to school.

C

But the picture doesn't look like the same one that I remember.

B

Oh I've seen this guy around.

B

I just think, that's incredible that you know he's.

B

Leaving that, for.

B

The athletic programs- I guess I I I'm curious as to how this.

B

Like how this works like, is it set up? Where say, for instance, we have 20 football players.

B

That need new equipment that may not be may not have the funds their parents or families may not.

B

To help them, oh actually, maybe football is hard, because we do order all that equipment too.

B

And I guess we should have given you a little more warning about this, but uh the one closest example.

A

I can think of is we all? We do have a a fund uh which was established to support uh the portsmouth.

A

High school band, when it makes trips okay, and so we basically we because it isn't really a lodge.

A

Fund, excuse me: we only distributed about every three years or so right. They go to florida and.

D

It's meant to assist those students who who cannot make the trip. uh I think it's helped underwrite.

A

The entire trip, but so um is there anything in the athletic department. What I hear you say is that.

A

If we take on the sport we take on the cost, that's basically the school right, and so I.

A

Either supplemental things that uh any any of the sports teams, the programs well, I I would unified.

B

Unified uh kind of this kind of the same thing where um you know we do get monies.

B

From special new hampshire special olympics, as well as what we have budgeted for it, but.

B

um It's low cost as far as supplies that we need, um because that's something that I think.

C

The program's great it's one of the best we have yeah and you know if there were, if that.

C

Gets into trouble, I mean I would. I would say that that's certainly helping a youngster who otherwise.

C

Wouldn't be able to participate in sports right, I I don't know what the unified program is. It's it's.

B

uh Kids, that are at our school student athletes with uh different disabilities. They partner up.

B

With student athletes um to create a unified team and then compete against other schools and.

B

We do soccer basketball and we actually play track, but they they have volleyball as well.

B

um Started, probably eight or nine years ago right, we started with just basketball and it's.

B

It's definitely one of the best programs that we have. I mean, as far as you know, you're, not.

B

Gonna he's not going to yell at the referees. If he goes to the games, you know or say that.

B

Kid was traveling, or you know stuff like that. So there's it's everybody's in that audience. That's.

B

um Supportive for all the teams, it's almost what the essence of what you'd want: high school sports.

B

To be, you know um where they're, you know, there's a competition. Still the the integrity of the game is.

B

There, however, um it's very it's. You know everybody eases back and just enjoys the athletes scoring.

B

And um or playing defense or passing or um just making one minor success um or a little small.

B

Success for them is a huge accomplishment, and you know it's just it's just a great sport, and so then.

B

We moved into soccer, and um I I mean I would think you know as I when I did hear about this, and I was.

B

Like you know, if there's a need, um I think dana could help me out there as well, because he used.

B

To coach for us he's still our best coach ever at portsmouth high school. I think he heard me, but.

B

um No, I don't think he did, um but um you know our transportation right now is we used to be merged.

B

With the recreation department where we were able to access um a 14 passenger van, which we've never.

B

um Which we can't use as the in the school department, so the wreck, when we kind of split.

B

And we broke up our marriage a couple years ago um we lost facilities, equipment, transportation, staff.

B

um So it kind of went that way and we went our separate ways and and there's many ways why I.

B

Think that it was a good move, but what we've seen now is that our small teams, for instance, when dana.

B

Coached tennis or um our golf teams, or if we're just taking our varsity team, so we didn't have.

B

To take them out of school at two o'clock for a triple header at londonderry to all have all three.

B

Teams on a bus, we would take this. The last team, you know so they'd go to school. The whole time.

B

um And and leave that way, the opportunities for that um something like that would be.

B

um Used so much more, I think throughout where we could take kids in the summertime to a clinic.

B

Up at unh that maybe couldn't go, for instance, you know um or different things, and it would be.

B

A you could use it. You know 365 days a year right now we don't have that opportunity. So.

B

um With the shortage of bus drivers, which, um which is a huge problem, actually not only in.

B

Portsmouth, but in the state where you see games are getting canceled at four, the four o'clock.

B

Games usually the earlier games because they can't get buses because they're still driving the kids.

B

Home that makes it a huge um uh disadvantage for almost everybody, but um when we lost that.

B

um That transportation, for instance, the our golf team, went up to the states um in mid-october. uh I.

B

Was up in oh, my god, river river ridge country club up near center, harbor yeah, so the kids, the parents.

B

Had to drive the kids or the kids could drive themselves because we didn't have. We couldn't.

B

Get a bus to get up there at 6 30 in the morning a school bus couldn't take us and stay up there.

B

The whole day for a golf tournament so because they didn't have enough drivers. So when I got.

B

To the parking lot, I was talking to a couple um upset moms that are on the phone with me in the.

B

Parking lot about you know. I can't believe that you know we're not able to get a bus for this and.

B

um We actually had to get a coach bus for a few games because of that because we didn't.

B

Have transportation and um I looked around the parking lot and I said you know, I see one bus.

B

And one private school bus, st thomas had their own. They have their own 25 passenger bus. That.

B

They take for everything and then there was one yellow school bus. The rest of the parking lot.

B

Was filled with cars, so you know just fast forward six years ago they were all those.

B

Were all school buses and then a few cars moving back to you when you're talking about the divorce.

C

Is there any way to resurrect that.

B

Or to come to get it back together? Well, the use of the of the 14 passenger van.

C

I I I thought it was. I was told that it was because.

B

um It's under a different insurance, as far as where the procedures of the insurance that we're.

B

Not allowed to use it anymore, so we've used the lister vans. The lister academy has a couple vans.

B

Or something that the school has been able to use but athletics, we haven't, you know we have a.

B

The 10 person golf team, we can't fit into one of those vans and then, with all the clubs and same.

B

Goes for the ski team that they're not able to you know so. We'd have to get a school bus or not go so.

B

What's the cost of living, uh I would say it's probably within the 65 000 range 50 to 60 000.

B

um I don't know if that's new and you know I asked todd because they did just purchase a new one.

B

um uh The beginning of the summer, so.

B

Who purchased a new one? The recreation department? Okay? But but it sounds to me like.

A

Well, you can't find drivers anyways so so this sounds like it's. It's a problem unrelated to.

A

Underprivileged students well well this, if you, if you had something like that in place, and it.

B

Was a non you, can you don't, have you don't you wouldn't need a you, can call it an activity van.

B

You wouldn't need a cdl license. That means you can have coaches drive, that which is what they.

B

Did uh in londonderry uh this year or a lot this year just to combat the transportation crisis.

B

That they have too so they were able to have two vans. The coaches are the ones that drive.

B

It so you don't have to hire bus drivers to drive those and and when we had the 14 passenger before.

B

um That was the city vehicle that was um as long as the coaches took a class. They were.

B

Able to be allowed to drive students to games. Okay, have you got a request in the capital.

A

uh Improvement plan for new buses or vans, or anything like that. I don't at this time I.

B

Will I dealt with it this time we had a bunch of other projects going on right now so um and this.

B

Transportation thing really hit, I think, as soon as covet bounced out you know this year. It feels.

B

Like more of a crunch than other than ever, because like for instance, if you talk to school department,.

B

It'll tell you that uh there's a few bus drivers were poached in the beginning of the year.

B

By a different, you know, neighboring bus company, because they're going to be offered more money.

B

They get a signing bonus, they have no allegiance to ports of high school, so or portsmouth school.

B

District, you know they say I could just drive up the road and make you know five dollars more.

B

An hour and 2500 I'm going to take that. So then, all of a sudden you're out of drivers and you're.

B

Looking for other transportation, you know we roll up in a in a coach bus for a field hockey.

B

Game because we had no other way to get in um and just you know it's yeah, [music] but I mean that's.

B

I, as far as a that's, what I was confused about as far as the how this is set up, is it set up that.

B

um If we needed a request, we would come to you and say we that's how it works or yeah.

A

That's what I was talking about the outside about having some type of a procedure, a mechanism so.

A

Yeah, so I uh what I imagine is that uh you know you had something that would fit into this.

A

Purpose and then you'd come to us and you know say you know to the extent that there.

A

Was documents or anything that supported it, sure you send those in advance and then.

A

We'd, just have you come in and you'd say this is what we're looking for. This is why it fits okay.

A

um I wasn't supposed to do that today, right, no, no! No! No! No! No! No! No! All right! You know it.

A

As I say this, this is a I mean new procedure for us because normally we're administering the funds.

A

That we have investing them and that type of thing and then annually with respect to scholarships.

A

We determine how much money is available based on the performance of the funds and.

A

Then the decision as to who gets it goes to the school itself, so this is a little different sure.

A

um You know I I I'm not sure what dana and peter think about that, but you know I'd have to think.

A

Further, whether something like that type of a van or would fit into this, because it's.

A

Seems to me that's a cost. That's not limited to underprivileged right. You know it's it's I I was.

A

Thinking you know if, if you had a baseball team and you and your practice was to allow.

A

Them to get down to the you know the place in seabrook to work out during the winter, but there.

A

Was some cost and you had to pass that along to the families and some families didn't have.

A

It to me that would be a perfect example of what these funds would be. Okay established for yep.

A

You know I don't want to rule out anything because it it is.

A

A pretty wide open, uh be quiet. Well, you know, and if you, if you read it.

C

C

Athletic opportunities for underprivileged students who might otherwise not be able.

C

To participate that right, you know, what's the definition of underprivileged can't afford it.

C

I I think, there's.

A

You know it could be as simple as simple as you know, the kids have to buy. You know.

A

Bring their own athletic equipment, you know hockey sticks or baseball bats or whatever.

A

It is, and some families, maybe just can't afford that, so that would be an example.

B

um So then I would, I would come to you and and have a request with um accompanied documents or.

B

Something say this is what I'm looking to get. This is why um you know I'll just go right. There's.

B

For the students um that we had to pick up an extra cost for so the powerhouse trainers.

B

um You know that mike montville owns at the gym down there. Now they come up and work in our.

B

Gym with our students that couldn't afford it, so that would that could definitely be one of the.

B

Things that I could come up with as far as you know, we've created a workout club for.

B

Kids, that are not on a sports team right now, but are interested in working out and getting.

B

And you know getting healthy and getting in shape that may not be able to afford.

B

A health club membership, otherwise, so um I mean that could be something that I could present to.

B

You guys that yeah yeah, I mean again my reading- is that if it's something that you offer or want.

A

To offer right- and there are students who, for financial or other reasons, just cannot.

A

Avail themselves of it, then this is meant to help those students, okay, yeah.

A

We're not putting you on the spot to come up with something right now right, you know, but this is nice to have something available. This is incredible: yeah, oh yeah,.

A

You know so I I would imagine, as you develop your your budget for next year, that you'll.

A

Come in to come up with things that this may fall into this and sure come to us and we'll.

A

See if he can help you yeah, that's sounds good to me. I mean I'd love to get dana coaching again, see.

B

If we can do that, maybe some of this monies I get cut off so I'm sorry, I missed a little bit.

E

Of a meeting, but I'm back and because I'm only going to coach, if you promise to play tennis.

B

Good, that's a commitment.

B

um No no, this is this is um now I kind of feel like I, I know it's a little better.

B

When I first heard about it, I was kind of, like my mind, has been racing as far as.

B

um Things but okay, this yeah, I could definitely set this up and you know and I'll pull the coaches.

B

Too and ask the coaches, you know as far as um I I know for sure that you know coach, patrick.

B

And the football team goes to unh uh football camp every year and I know that there's kids.

B

That can't afford it. So that's exactly what we're talking about yeah and you you when.

C

When jimmy mulvey was coaching yep I mean he would supply kids who couldn't afford absolutely yeah. I.

C

Don't know sneakers suits and ties because yeah some families don't have that yeah. So yeah third.

C

There are things that that can be thought of that could help the kid absolutely yeah, and so, if you.

A

Have an idea and you're just looking for some feedback, just contact beauty. She'll put you on.

A

The agenda sure or if you just want to circulate something to us, send it to her and she'll get it.

A

We can maybe even give you a response without you having to come in so.

B

um Is there a, is there an address to the mccann family? I could write something to or.

B

um Or I don't think uh more contact if there is no? No, I I think when he passed away. He was.

A

Not married and had no children so somehow to recognize, I mean yeah. It.

A

I don't think we have an address. We, we received these communications from his the estate. Oh.

A

Okay, the attorney for his estate, so um we could. We could dig that up and give you two you could reach.

A

Out to that attorney and ask sure you know who a thank you thing could go to if you wanted yeah. I.

C

Mean that's just a few people in mentioned in the will that don't live around here so.

F

I'll send you the attorneys okay yeah. That would be great, and I just love the.

B

Write something and we'll note.

C

Try out started for basketball, because I know that all starts um the monday after thanksgiving. So.

B

Kids are in the gym, open court. You know anybody could show up so, but as far as tryouts or.

B

Teams that all will all that fun begins after thanksgiving. So we get a couple weeks of.

B

um Relaxation, I guess you could say wrestling and swimming started today, so.

B

Those two sports start before everybody else and then everybody at ice hockey.

B

Basketball, skiing track, they all start after thanksgiving, so we get to relax a little. But.

B

um No I'll! No, how how many times do you guys meet like every month once a month once a month, okay,.

F

I'll, let you know cause if you send something or or want to send something I can. Let you just reach.

F

Out to me, and let you know what the schedule is, we usually know three or four meetings in.

F

Advance what the dates are so so I I can see dana once a month. If I come every month, yeah.

B

It's a good day. No, this is really great, [music] I mean do they bring their own bikes or how's that work yeah.

B

The the cycling club they all have their as far as I know, their own race bikes. You know.

B

Similar to skiing, where they have their own equipment um already um so that yeah that's.

B

I I mean, as I said, I mean I'll I'll pull the coaches too and say you know. As far as.

B

If there's a you know something that's standing out as far as a need from one of those coaches.

B

um You know and like I said, the the unh football camp would be a uh classic. You know.

B

um Where I know that they fundraise, because they, the kids, can't afford to go there.

B

um But it's really beneficial and the numbers you know we try to get the numbers up as much as we.

B

Can to go there so, um but that would be something that you know wrestlers. um You know cheerleaders.

B

You know we have a ton of sports, so um I'm sure if you check with your coaches, they'll come up.

A

With some ideas, yeah- and I think the thing to do, though, is it isn't it can't be used to supplement.

C

School department responsibilities as far as fun, yeah yeah, so these would be the extras or the as.

B

The kids can't afford yeah absolutely yeah, you know. So if you were trying to put together as.

A

Many of the football players as you could to go to the unh camp in the department I mean, and they.

A

Were going to request the parents to cover that costs if the department was going to cover that.

A

Cost- and I don't think you can just take these funds and deduct it from what the department.

A

Would be paying right, but if the parents are going to- and there are certain kids who can't that would.

A

Be a classic example of you know someone who is underprivileged not being able to participate sure.

A

That's great all right, I guess I got to get to work. You guys got me working again, dana.

B

I do work, you know that he's laughing, I see you at all the basketball again. No, this is.

B

Really fantastic opportunity- and um you know I don't want to say I'm humbled, but I mean.

B

My gosh that's a lot of money to leave, for uh you know for opportunities for kids, so um I'm.

B

All about that so great thanks for having me here today. I really appreciate it. Thanks for.

B

Coming over yeah, thank you. Yep thanks and happy thanksgiving, dane I'll, be there at two [laughter].

D

All right good to see you yeah good, seeing you too yeah so we're gonna, move on with our.

A

Agenda, you don't have to stick out. Okay, all right! Thank goodness all right. Take care thanksgiving.

B

Everybody dana you too dana. We got like three minutes, so we'll probably have to kick off the.

F

Other meeting you know what I mean. Okay, can I just wait till this stops yeah it'll kick us out and.

F

Then um just grab the other link that I set up for the next meeting and I'll. Let you right back in.

D

All right, okay, next item on the agenda, is the td wealth management reports and judy's. Little summary.

A

D

A

This little notation in red here that's the year year over year. This is on the bar chart.

F

So last october, from last october, to this october, we're down 16 overall right. So that's.

F

The whole that that encompasses that year and then the third page is from inception.

F

Which was april of 21.

E

Judy is the thomas mccain uh funds we just talked about on.

E

Both our both students allocated to the scholarship funds endowment, okay, yep.

F

Nina we're at the one minute mark, so I'm going to kick off the other meeting. If that's okay with you, okay,.

E

We're signing off here and go to the other okay. Thank you.

D

D

Thank you. Thank you.

E

A

Okay, any comments or questions on the reports. I will reach back out to um john and suzanne as well.

F

About the dashboard where they, where, where are they at with seeing if they can get that done, yeah.

A

I will reach out, you know tom, give him a. We would like it at our next before our next meeting yep.

A

Since they send the reports out about 10 days before our meeting is correct, then that would be.

A

A good time to have it: okay, yeah any comments or questions peter hello, dana okay. I have.

F

One is for the computer system here is the voided check that you signed last week because I made it.

F

Out to the city of portsmouth and then found out afterwards, they want us to pay the vendor.

F

Directly, so it's the same amount voided check, here's the new check to the dell and then the.

F

Other one is to abila, which is for the financial system. This is the yearly annual renewal that.

F

We do every year for the financial software package, so these are the two checks that I have.

F

Here's the void to show that I avoided it and there's the new one.

C

That was texas. [music] Thank you, okay, any other financial stuff judy. No, I just wanted.

F

To let you know that I'll be bringing forth a lot of the scholarship information, because it's.

F

That time of year, again so I'll be putting that together. I know that we, everyone wanted to kind.

F

Of review the process so I'll put together the numbers that I have and then we can.

F

Discuss further and and get comfortable with everything and then probably do the final vote.

F

Early in january, for what we're going to distribute with this with the schools, if.

F

That's all right with you, that's fine with me yeah. I think we'll want to or remind.

A

The guidance department at the high school again this notice goes out to all local schools yep.

A

You know I mean, would you like her to come back in or no need of that and everything's pretty.

F

Much the same I mean I can remind her yeah, I just don't want it to get lost. I don't think we need to.

A

Question her about it: yeah, okay, okay, um okay, yeah, any uh new business.

A

Nobody from the public, so there's no public discussion.

A

I'll entertain a motion to adjourn so we'll.

F

Great. Thank you. Thank you guys.