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Trustees set procedure to approve planned expenditures with 2027 budgeting; investment policy to be republished
Summary
The trustees agreed to approve planned expenditures from earmarked investment accounts alongside the town's 2027 budgeting process, realigned accounts to the Treasurer's Office, and distributed the current investment policy paper for review with intent to update at the next meeting.
The Trustees of the Trust Fund established a procedure to approve planned expenditures from earmarked investment accounts in accordance with existing statute and in conjunction with the Town budgeting process beginning with calendar year 2027. The minutes note that current procedures will remain in place through calendar year 2026.
The board reported that all accounts have been realigned to conform to procedures established by the Town of Gilmanton Treasurer's Office. Trustees also identified the need to republish their investment policies and strategies; a copy of the current policy paper was distributed for review and the board expects to review, revise and approve an updated version at the next meeting.
Trustees recorded there has been no progress in identifying and arranging implementation of a backup accountant, though a potential candidate was noted for a future meeting. The combined items reflect a push to update governance documents and align trust-account procedures with the town treasury and the annual budgeting cycle.
