City treasurer outlines plan to activate Trustees of Trust Funds; residents raise questions about Art Center account

Dawn Enright, the City of Nashua treasurer and tax collector, told the Board of Aldermen on Jan. 14 that she will move to activate a Trustees of Trust Funds and Capital Reserves board under RSA 31 and RSA 34 and that Mayor Jim Donchess will present two citizen appointees for the panel.

Nut graf: Enright said the trustees — which state law contemplates as a 3–5 member body — would create a single investment policy, solicit a single financial adviser by RFP, and meet quarterly to review performance. Alderpeople asked whether the change would alter existing boards’ authority and whether the city’s filing practices with the New Hampshire Department of Justice (DOJ) and the Division of Revenue Administration (DRA) had been accurate; several public commenters later urged correction of an Art Center account they said had been set up incorrectly and not earning interest.

Enright said the trustees would be “purely oversight of the investments” and would not replace agents of expenditure such as existing boards that direct spending from individual trusts. She said the trustees would include the board president, the mayor, the treasurer…