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Trustees approve $444,311.09 in withdrawals for town projects, vehicles and facilities
Summary
Trustees voted to withdraw $444,311.09 from expendable trust funds to cover municipal facility needs, a highway truck, fire department vehicle and other items; the motion passed by voice vote after a review of balances and CD options.
Trustees of the trust funds voted to approve withdrawals totalling $444,311.09 to cover multiple town projects and equipment purchases. The motion was made by a committee member and seconded; the board approved the motion by voice vote ('Aye').
The trustees listed withdrawals for a range of expendable trust accounts, including municipal facilities, record retention and library facilities, as well as fire-department needs. The meeting record lists the total to be disbursed as $444,311.09 and individual line items shown in the packet as municipal facilities ($46,005.69), record retention ($2,595.75), library facilities ($15,000), a fire-department utility vehicle ($24,004.44) and an engine replacement ($63,006.28). Officials said the highway department previously approved a $270,000 warrant article for a 10-wheeler truck; that vehicle was reported as delivered and the trustees discussed holding the related balance pending final timing.
Trustees discussed short-term liquidity and yield, reviewing sampled certificate-of-deposit (CD) rates and agreeing to place idle balances in short-term CDs where appropriate while awaiting capital expenditures. One trustee described a practice of moving half of long-idle school-related balances into CDs to earn interest while preserving spending flexibility; trustees said they would confirm immediate cash needs with school officials before allocating funds.
The board also approved routine business by voice vote at the same meeting: approving the meeting minutes and signing off on the annual investment policy (separately recorded). The motion to approve the withdrawals was made during the discussion of expendable trust disbursements and carried without recorded opposition.
Next steps: staff will prepare and send the checks for the approved withdrawals and follow up with school and department contacts to confirm spending timelines before final CD placements.
