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Trustees and selectmen seek clearer rules for Manahan Trust; treasurer requests pay raise
Summary
Trustees presented a 2000 guidance document and asked the Hillsborough Board of Selectmen to improve coordination on distributing interest from the Manahan Trust; the trustees also requested raising the trust treasurer’s pay to $3,500 for 2026. The board took both matters under advisement.
Riche’ Colcombe, chairwoman of the Trustees of the Trust Funds, presented the Hillsborough Board of Selectmen with a document created in 2000 that outlined how the Manahan Trust has been used and its intended benefit to town residents. Colcombe said the document shows the trust has been administered consistent with William Manahan’s will but that a clearer working arrangement between the Trustees and Selectmen is needed for allocating interest earned by the trust.
Colcombe also reported that William Shee, the Trustees’ treasurer, “has not received a pay increase in several years” and asked the Selectmen to raise his annual pay to $3,500 for 2026. The board did not take immediate action on the compensation request and agreed to take both the governance coordination and the pay request under advisement.
