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Resident asks board to expand legal budget for Dow Fund review; Col. Town committee seeks 1% payout increase
Summary
Resident Rob Christie urged the board to ask the budget committee to expand the legal budget to research miscellaneous funds like the Dow Fund, and reported the Col. Town Spending Committee has asked the Col. Town Investment Trust to increase payout from 4% to 5%—the trust has been returning 8–9%, and the additional 1% would be returned to taxpayers.
During public comment, Rob Christie asked the Select Board to request the budget committee expand the town’s legal budget to allow investigation into miscellaneous funds such as the Dow Fund, asserting the Unity Club may be the only remaining body authorized to recommend Dow Fund vouchers. Christie said he believes Mrs. Tenney may be the only remaining Unity Club member able to make recommendations and urged a review to ensure proper oversight.
Christie also reported the Colonel Town Spending Committee had asked the Col. Town Investment Trust to raise its annual payout from 4% to 5%; he said the trust has been earning 8–9% and that the intent of the additional 1% payout would be to return more funds to taxpayers. The board did not take formal action on these requests during the meeting.
