The Commissioners of Trust Funds consist of three town residents elected to overlapping three-year terms. The commission was created by the Town Treasurer for the specific purpose of administering and managing financial gifts donated to the town in perpetuity. Ultimately, the commission reports to and is responsible to the Town Treasurer. The funds are not assets of the town and therefore their holdings and income are not included in the annual budget of the town. Currently, twenty-two individual funds are administered by the commission.
The Commission's responsibilities include:
- Administration and management of all perpetual gifts donated to the town
- Interpretation of each fund's guiding instrument for its terms as to management and income distribution
- Reviewing and approving or denying requests for distributions from the funds
- Serving as resources for inquiries about individual funds and their purposes
- Preparing annual reports for the town's fiscal year annual report
|Thomas P. Walsh||Member|