===PAGE 1===
Lunenburg  Trust  Fund  Commission  
Bilotta  Meeting  Room/PACC  
Lunenburg  Town  Hall  
March  12,  2026  
 
The  meeting  was  called  to  order  at  5:01  pm  by  Chairman  Bowen.  Present  were  Mr  Howard  and  
Chairman
 
Bowen.
  Members  recited  the  Pledge  of  Allegiance.  Chairman  Bowen  proceeded  to  read  the  posted  
Agenda
 
and
 
open
 
meeting
 
law
 
provisions.
  No  public  present,  no  Zoom  participants.  No  public  comment  from  Chairman  Bowen  nor  Mr  
Howard.
  No  Trust  representatives  present   No  Treasurer  or  Finance  Director  reports.   The  last  report  on  fund  performance  was  in  December  2025  from  our  Private  Trust  Company.  
Increase
 
of
 
approx
 
$3,000
 
in
 
value
 
on
 
approx
 
$87,000
 
of
 
invested
 
funds.
  The  presentation  made  to  the  Board  of  Selectmen  can  be  viewed  on  the  LunenburgAccess  
YouTube
 
or
 
Facebook
 
pages.
  
Issue
 
raised
 
for
 
cy
 
pres
 
investigation.
  
Unless
 
the
 
donor
 
gave
 
provision
 
on
 
the
 
management
 
of
 
the
 
fund,
 
the
 
responsibility
 
lies
 
with
 
the
 
Town.
 
  Chairman  Bowen  is  scheduled  to  make  a  presentation  to  the  Finance  Committee  at  7pm  to  
advise
 
them
 
of
 
the
 
need
 
to
 
make
 
this
 
expenditure.
  Chairman  Bowen  recited  some  components  of   the  warrant  article.   He  is  requesting  40  hours  of  
professional
 
legal
 
investigation.
  
Most
 
handled
 
under
 
the
 
retainer
 
except
 
the
 
investigation
 
piece.
  
As
 
trustees
 
of
 
these
 
funds
 
we
 
have
 
a
 
duty
 
to
 
keep
 
accurate
 
records,
 
ensure
 
lawful
 
administration
 
and
 
act
 
prudently
 
-
 
which
 
includes
 
the
 
delegation
 
of
 
special
 
requirements
 
to
 
qualified
 
experts
 
.
  
Chairman
 
Bowen
 
stressed
 
the
 
need
 
for
 
a
 
qualified
 
opinion,
 
and
 
the
 
Trust
 
Fund
 
Commission
 
is
 
charted
 
to
 
make
 
sure
 
rules
 
are
 
being
 
followed.
  Chairman  Bowen  expressed  concern  over  a  lack  of  response  from  the  School  on  scholarship  
funds,
 
questions
 
raised
 
in
 
October
 
2025
 
have
 
still
 
not
 
been
 
addressed.
  Chairman  Bowen  stated  his  concern  regarding  the  Susan  Howard  Poor  Fund  which  appears  to  
be
 
missing,
 
last
 
noted
 
in
 
1977.
  
We
 
have
 
more
 
established
 
funds
 
than
 
we
 
have
 
declarations,
 
so
 
housekeeping
 
is
 
necessary
 
which
 
will
 
require
 
funds
 
for
 
investigations.
 
===PAGE 2===
 Bylaw  presented  on  the  Select  Board  participating  in  the  Trust  Fund  Commission  on  a  
temporary/as
 
needed
 
basis.
  
The
 
Policy
 
defined
 
as
 
the
 
administration
 
of
 
Trust
 
Funds
 
in
 
the
 
absence
 
of
 
a
 
quorum.
  
Chairman
 
Bowen
 
requested
 
people
 
support
 
this
 
bylaw
 
at
 
the
 
annual
 
Town
 
Meeting.
  
Please
 
vote
 
Yes
 
on
 
both
 
matters.
  Mr  Howard  made  a  motion  that  we  approve  the  Lunenburg  Board  of  Trust  Fund  Commissioners  
policy
 
and
 
verification
 
of
 
US
 
citizenship
 
and
 
municipal
 
residency.
  
Chairman
 
Bowen
 
seconded
 
the
 
motion.
  
The
 
vote
 
was
 
Mr
 
Howard
 
=
 
‘aye’,
 
Chairman
 
Bowen=
 
‘aye’.
  
The
 
motion
 
passed
 
unanimously.  Reviewed  AmLegion  constitution  for  eligibility  and  discussed  the  complexities  and  cumbersome  
nature
 
of
 
enforcement.
  There  was  much  discussion  on  the  determination  of  whether  members  of  the  Trust  Fund  
Commissioners,
 
Town
 
Manager
 
and
 
Board
 
of
 
Selectmen
 
have
 
the
 
requisite
 
level
 
of
 
expertise
 
to
 
make
 
determinations
 
on
 
cy
 
pres
 
filings
 
that
 
may
 
be
 
needed.
  
Mr
 
Howard
 
made
 
a
 
motion
 
of
 
no
 
confidence
 
that
 
the
 
trust
 
fund
 
commission
 
or
 
the
 
select
 
board
 
has
 
any
 
ability
 
to
 
make
 
a
 
determination
 
of
 
any
 
matters
 
with
 
regard
 
to
 
the
 
trust
 
funds
 
without
 
proper
 
professional
 
investigation.
 
The
 
motion
 
was
 
seconded
 
by
 
Chairman
 
Bowen.
  
The
 
vote
 
on
 
the
 
motion
 
was
 
Mr
 
Howard
 
=
 
‘aye’,
 
Chairman
 
Bowen
 
=
 
‘aye’.
  
Post
 
meeting,
 
Chairman
 
Bowen
 
provided
 
a
 
more
 
descriptive
 
narrative
 
of
 
our
 
vote
 
on
 
this
 
issue
  The  Board  voted  no  confidence  as  a  formal  board  action,  finding  that  systemic  
governance
 
failures
 
prevent
 
the
 
Board
 
of
 
Commissioners
 
of
 
Trust
 
Funds
 
from
 
discharging
 
its
 
fiduciary
 
duties
 
under
 
MGL
 
c.
 
41
 
§45.
 
The
 
Board
 
determined
 
that
 
required
 
legal
 
actions
 
necessary
 
to
 
investigate,
 
correct,
 
and
 
seek
 
cy
 
pres
 
relief
 
for
 
trusts
 
held
 
under
 
the
 
Board’s
 
custody
 
and
 
management
 
are
 
dependent
 
upon
 
authorization
 
and
 
funding
 
controlled
 
by
 
the
 
Town
 
Manager
 
and
 
Select
 
Board.
 
Acting
 
on
 
advice
 
of
 
counsel,
 
the
 
Town
 
Manager
 
and
 
Select
 
Board
 
have
 
declined
 
to
 
initiate
 
or
 
fund
 
such
 
investigations
 
or
 
to
 
pursue
 
required
 
filings
 
with
 
the
 
courts
 
or
 
the
 
Attorney
 
General,
 
citing
 
the
 
insufficiency
 
of
 
trust
 
fund
 
assets
 
and
 
declining
 
to
 
authorize
 
municipal
 
funding
 
for
 
those
 
purposes.
 
The
 
Board
 
found
 
that,
 
absent
 
such
 
authorization
 
and
 
resources,
 
it
 
lacks
 
the
 
practical
 
ability
 
to
 
carry
 
out
 
its
 
statutory
 
obligations
 
to
 
protect,
 
administer,
 
and
 
enforce
 
the
 
charitable
 
purposes
 
of
 
the
 
trusts,
 
resulting
 
in
 
an
 
ongoing
 
inability
 
to
 
fulfill
 
its
 
fiduciary
 
responsibilities.
  Business  for  the  next  meeting  will  include  approving  meeting  minutes.   March  26  is  the  next  meeting  starting  at  5pm.    No  public  present  or  on  Zoom.   No  additional  public  comment  from  members  of  the  Board  of  
Trust
 
Fund
 
Commissioners.
  
===PAGE 3===
Mr  Howard  made  a  motion  to  adjourn  at  6:33pm,  Chairman  Bowen  seconded  the  motion.   The   
motion
 
passed
 
unanimously.
  <end>