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Advisory committee presses for quarterly investment statements after members flag $3 million in town funds
Summary
Advisory members asked that the town provide a quarterly, Fidelity-style account statement of invested funds after a committee member said Templeton may have about $3 million in cash or investments and recommended greater transparency and analysis of returns and risk.
Members of the Templeton Advisory Committee pressed Town officials to provide clearer, regularly published details on the town’s invested funds, saying available public materials do not make it easy for taxpayers to see where cash is held, what the return has been, and how that return is used in the budget.
Chair, Templeton Advisory Committee, told the meeting: “I suspect that we have $3,000,000 in cash that is either in a short-term bank account or in investment…
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