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delegating responsibilities,
reporting the activities of the
Board of Trustees to the Vestry
and to the congregation of the
Parish, and generally
performing all duties incident to
the office of the Chair of the
Board of Trustees.
Governance and Administration
The Board of Trustees shall
meet at such times as its Chair
shall direct, but no less often
than semi-annually. The Board
of Trustees may appoint a
Secretary and a Treasurer or
Secretary-Treasurer, who shall
be bonded and need not be a
member of the Board of
Trustees, to maintain the books
and records of the Endowment
Fund including
minutes of all meetings and to
perform such other duties as
prescribed by the Board of
Trustees, including the
maintenance of a permanent
record of all donors and gifts to
the Endowment Fund and
preparation of financial reports.
The Board of Trustees may also
appoint other persons it deems
appropriate to assist the Board
of Trustees in performance of
its duties and responsibilities.
The appointment of any such
persons who are not members
of the Board of Trustees will be
subject to the concurrence of
the Rector and Vestry.
The Board of Trustees shall
meet at least once a year to
review the financial progress of
the fund and to handle
distribution requests. One
person, chosen by the Trustees,
not necessarily a member of the
trustees, will take minutes. The
Treasurer of the church, not
necessarily a member of the
Trustees, will maintain the
financial records and minutes of
meetings as well as a record of
donors and gifts to the fund.
3. Governance and
Administration
The Board of Trustees shall have
authority to open one or more
checking and related
investment accounts with a
federally insured bank, and/ or
with a Trust Department of a
bank; one or more investment
The Board of Trustees will open
one or more accounts with the
Trustees of the Funds of the
Diocese of Virginia (TOTF) for
the balance of their funds to be
invested. Each account will
have at least two signatures.