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Trustees hear Bank of New Hampshire report; town told it will need about $900,000 from capital reserves in July
Summary
At their April 15 meeting the Trustees were told the town will likely require approximately $900,000 from Capital Reserve Funds in July 2026 and that Bank of New Hampshire will manage the account to ensure funds are available; the bank also presented quarterly performance results.
At the April 15 meeting of the Trustees of the Trust Funds, Town Financial Director Andrea Picard told trustees the town will need "approximately $900,000" from Capital Reserve Funds in July 2026. Bank of New Hampshire representatives said they would manage the account so funds are available to cover those expenses.
Bank staff introduced a personnel change and reporting commitments: the Trustees thanked Teri Linden for her years supporting the Moultonborough account and welcomed Maddie Wunsch as Linden’s replacement. "Ms. Wunsch agreed she will be filing in July the Town’s MS-9 and MS-10 reports for 12 months for the previous fiscal year," and she said future monthly reports will be amended to reflect changes the Trustees requested.
BNH distributed quarterly reports and presented portfolio performance. Before fees, the Capital Reserve Funds returned 0.44% for the most recent three-month period and 6.85% for the year, compared with benchmarks of -0.25% (3 months) and 5.79% (1 year). The equity portion was -3.44% for three months and 19.11% for the year (benchmark -3.13% and 18.80%). Fixed income performance for the Capital Reserve Funds was 0.30% for three months and 4.13% for the year (benchmarks 0.19% and 4.03%).
BNH also reported performance after fees: the Capital Reserve Funds were -0.52% for the most recent quarter and 6.49% for the year versus the same benchmarks; equities after fees were -3.53% for the quarter and 18.71% for the year. The Trust Funds total performance after fees was -1.29% (quarter) and 12.40% (year); equity performance after fees was -2.28% (quarter) and 21.27% (year). BNH representatives and Andrea Picard exited the meeting at 10:35 a.m.
Why it matters: the Trustees oversee investment of town trust accounts and must ensure cash is available for planned capital spending. The $900,000 draw planned for July will affect portfolio liquidity and short‑term allocation decisions. Trustees said BNH will manage timing and liquidity to meet the town’s cash needs.
