Trustee of Public Funds

Matthew Frost, Chair

Liz York, Vice-Chair and Treasurer

Rob Howe, Secretary

The Trustees manage seven accounts: the Public Cemetery, Village Cemetery, School Library, Fire Department, Town Highway, Special Projects, and Public Library accounts.

All disbursals are in accordance with our standard policy of making distributions in response to requests from beneficiaries of the Public Fund accounts; the Trustees typically do not make distributions absent a request for funds. At present, the Trustees generally allow distributions of up to five percent (5%) of an individual fund’s principal amount at the time of the request. For example, if an individual fund has a principal amount of $100,000 at the time of the request, the Trustees would usually permit a distribution of $5,000.

The Trustees weigh the long-term goal of preserving each trust’s principal against the short-term needs of the account beneficiaries and may on a case-by-case basis deviate from standard policies if they deem it is in the best interests of a beneficiary.

The Trustees monitor the broad investment and economic climates and have from time to time imposed temporary moratoria on distributions in response to poor market performance. When such a policy is in effect, the Trustees permit distributions only in response to “emergency requests” for funding.

Recent Trustee of Public Funds meetings:

June 19, 2020
Agenda | Minutes

May 20, 2020
Agenda | Minutes

Follow this link to see agendas and minutes from prior Trustee of Public Funds meetings.