10.16.2026 Trustees of Trust Funds

The October 16, 2026 meeting of the City of Portsmouth, New Hampshire, Trustees of Trust Funds approved acceptance of additional donations to the Public Arts Trust for the Nebbe sculpture. Trustees also approved a $9,500 distribution for the Lower State Street Pocket Park, covering the bronzing of a bust and associated landscaping; the payment was to be split between two vendors, including Terrence Parker, with the bronzing vendor not clearly identified in the transcript. The approval followed confirmation of the City Council vote and legal counsel’s view that the work qualified as a park amenity. Trustees approved a distribution from the PNH 400th Anniversary Education and Public Art Trust, but the amount and recipient are not clear in the transcript. No RFP or contract award was discussed.

Trustees accepted the financial reports and heard a portfolio update; the investment manager said the reduced management fees had been entered for the four portfolios, while confirmation that the change was effective July 1 remained pending. Members agreed that a student who withdrew from St. Andrews may use her scholarship at another school if the funds are returned to the Trust. They also discussed preparing a memo setting a Wednesday close-of-business deadline for materials as staff hours change, and planned further review of the investment policy.