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Auditors debate who should qualify for trust-fund payouts: farms, employers or small sellers?
Summary
Auditors questioned how to interpret donor intent in the 1927 covenant and debated eligibility criteria for trust-fund distributions, including whether to prioritize established town-based employers, dairy enterprises, or small backyard sellers.
During review of the 1927 covenant language, auditors discussed donor intent and what kinds of recipients the trust fund should favor. One member quoted the covenant as aiming to "establish within the town a permanent business of ever increasing value" and suggested that language supports established employers that create local jobs.
Members raised practical concerns: if eligibility is too broad, payments could be spread so thin that individual amounts become negligible. The auditors discussed possible objective criteria for eligibility, such as a business being physically based in town, employing a certain number of people, or demonstrating a sustained payroll.
The committee also noted the original emphasis on dairy interests but observed that the covenant's language could be read to support other town businesses; auditors said any new eligibility rules should honor donor intent while remaining administrable. They agreed the topic requires further study with trustees and legal counsel before policy changes are proposed.
