At a regular meeting, the Town of Southborough scholarship committee voted unanimously to create a new scholarship in memory of Stephanie Ranieri, authorized Brian Ballantine to sign scholarship payables, and directed that any proceeds be held in a simple money‑market account rather than invested in a pooled portfolio.

The committee chair opened the discussion by notifying members that the donor family had asked that the award be named the “Stephanie Ranieri Scholarship.” "The first vote we need to take is, voting to create the new scholarship in memory of Stephanie," the chair said, prompting a motion and unanimous roll‑call approval.

The committee reviewed the scholarship purpose language, which mirrors the town’s standard scholarship criteria with one additional sentence: “most importantly, a demonstrated commitment to their community and their peers.” A motion to adopt the verbiage "exactly as presented" passed on a unanimous roll call.

Members also voted to authorize Brian Ballantine to sign payable documents for the scholarship, consistent with how other town scholarships are administered. The committee discussed two options for holding any funds — investing in a pooled account tied to market performance or keeping the proceeds in a money‑market account — and voted to use the same simple money‑market approach other town scholarships use. A motion to place proceeds in a money‑market account passed unanimously.

Committee members additionally approved prior meeting minutes referenced during the session, including minutes noted from June 4, 2024, and March 11 (date year not specified in the discussion), and then adjourned. The chair said she would distribute a separate update from Terry at Access Media to the members after the meeting.

Votes at a glance
- Create “Stephanie Ranieri Scholarship”: motion moved; roll‑call vote 5 yes, 0 no, 0 abstain — approved.
- Adopt scholarship purpose language (including community‑commitment sentence): motion moved; roll‑call vote 5 yes, 0 no, 0 abstain — approved.
- Authorize Brian Ballantine to sign scholarship payables: motion moved; roll‑call vote 5 yes, 0 no, 0 abstain — approved.
- Place scholarship proceeds in a money‑market account (same as other scholarships): motion moved; roll‑call vote 5 yes, 0 no, 0 abstain — approved.
- Approve minutes (including 06/04/2024 and 03/11 [year not specified]): motions moved and approved by roll call.