Templeton advisory committee votes to add investment-earnings figures to quarterly and annual reports

The Templeton Advisory Committee voted to recommend that the town include amounts earned in its investment accounts in the quarterly financial reports and in the annual report, saying taxpayers have a right to a clear snapshot of invested funds and returns. Noel Francis, chairperson of the Templeton Advisory Committee, led the discussion and the committee approved the recommendation by roll call.

Committee members said the move is aimed at transparency. "The public does have a right to know. It is their money," Francis said during the discussion. Members noted the town had roughly $4 million to $5 million under investment and observed rates of return in the 4%–5% range in recent reporting.

The committee also discussed state statutes that limit how towns may invest municipal funds. Several members said statutes are conservative relative to pension funds such as the Worcester County Retirement System, which the committee referenced as having a broader investment mandate and higher returns. Committee members suggested asking the select board to consider contacting state legislators to request a statutory review.

The advisory committee voted to forward the recommendation to the select board for consideration and possible implementation of reporting changes. The committee did not change town investment policy itself; the motion recommended disclosure and asked the select board to identify which town office would handle the reporting and whether the select board wished to pursue statutory changes.

The advisory chair and members agreed to bring the approved language to signatories at their next meeting so the select board could consider the recommendation at its next meeting.