Resident urges review of Colonel Town trust, says Unitrust conversion withheld nearly $1 million

During public comment, resident Rob Christie asked the Select Board to explain 'Exhibit 3' in the 2023 audit showing a non-spendable balance of $4,172,532 for the Colonel Town trust and a separate restricted amount of $917,539. Christie said he believes that restricted figure represents amounts withheld after the trust was converted to a Unitrust and accused the change of holding back nearly a million dollars from the town.

"So, he thinks the $917,000 represents money the town would have received under the old Will but does not receive now under the new Unitrust...there is almost a million dollars that has been held back," Christie said, and suggested the town could petition the court to change the payout from 4% to 5% to increase annual distributions.

Christie also asked about a 'non-contributing transfer' shown under the water and sanitation report; Selectman Shane Beattie said he had not reviewed that portion of the report and could not explain it at the meeting. Christie requested the board review repeated year-to-year changes in the assessment for the Parker J. Noyes building.

The board did not announce specific follow-up at the meeting. The items Christie raised were entered into the public record and would require staff review or legal advice before any petition or formal action.