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Pine/Strawberry Fuel Reduction Executive Session Meeting
Thursday January 7, 2021 via Zoom
10:00 – 11:30 am
Attendees: Mike Brandt, Janet Brandt, Brenda Darling, Joan Backman, Cindy Jordan, Elsa Steffanson.
Edward Jones meeting with Financial Advisor Chris Walsh.
PSFR has Four accounts with Edward Jones:
Two for Fuel Reduction:
• One Cash Account
• One Investment Account
Two for Trails:
• One Cash Account
• One Investment Account
Since 2008 our investment accounts have yielded about 7.8% interest per year and our cash accounts have yielded 4% interest per year.
Vote: Janet made a motion that we move the funds from each cash account to the associated investment accounts but keep the cash accounts open for future money transfers. Joan seconded, all in favor. Motion passed.
United Technologies Stock held by PSFR (in our fuel reduction account) split and then merged with Raytheon Technologies. Chris recommends that we liquidate this stock and put the money into an investment account.
Vote: Janet made a motion that we liquidate our stock and place the money into our Fuel Reduction investment account. Mike seconded, all in favor. Motion passed.
Cindy provided a brief review of the PSFR financials including current bank statements.
Vote: Brenda made a motion that we move $13,000 from our Fuel
Reduction Chase checking account to the Fuel Reduction Investment
Account. Joan seconded, all in favor. Motion passed.
Chris advised that CD & Money Markets will pay nothing in the future and
recommends that we liquidate and move funds to an investment account.
Vote: Janet made a motion to move our CD & Money Market funds totaling
$82,274.20 to the Trails investment account. Joan seconded, all in favor.
Motion passed.
Submitted by
Brenda Darling
PSFR Secretary


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