7.15.2026 Trustees of Trust Funds

The City of Portsmouth, New Hampshire Trustees of Trust Funds held a meeting on July 15, 2026, focusing on several procurement and fund disbursement matters. Key procurement-related discussions included approval of scholarship trust agreements, authorization of fund disbursements for public art projects such as the NEVI sculpture and the repair of the Codfish sculpture, and the transfer of remaining funds from completed public art projects to a general maintenance account. The trustees also discussed procedural improvements for disbursement approvals, including documentation requirements for city council votes. Additionally, a request for distribution from a trust supporting the indoor pool's maintenance was approved, with conditions on expenditure verification. The meeting included a detailed update on the estate administration and asset liquidation related to Walter Wakefield's trust, highlighting the sale of property and personal assets, and the anticipated distribution of proceeds to the city. Finally, the trustees considered a proposed reduction in management fees with TD Wealth Management, deferring final approval pending legal review. Motions to approve disbursements and procedural changes were passed unanimously, and the meeting concluded with plans for further review and follow-up in August.