Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Public Safety Finance topic
No spam. Unsubscribe anytime.
Weston Volunteer Fire Department moves accounting in‑house and considers consolidating roughly $400,000 in investments
Summary
The Weston Volunteer Fire Department reported moving reconciliation work in-house, producing monthly expense reports, and planning a meeting with Merrill Lynch to discuss consolidating about $400,000 across three funds with an estimated 6–7% conservative return.
At the Feb. 24 Selectboard meeting, Weston Volunteer Fire Department representative Mitch Fuchs reported that the department stopped paying an outside accountant $300 per month for reconciliation work and is now performing reconciliations internally, drawing on his 35 years of accounting experience. Fuchs said the department consolidated reporting categories to make review easier and that monthly reports now include all expenses with supporting invoices; the board was told the department may consider a year‑end CPA review for liability protection.
Fuchs said an investment discussion is underway and that the department has a meeting scheduled with Merrill Lynch representative Rhonda Lathrop to review a potential consolidation of approximately $400,000 across three funds and an estimated 6–7% conservative return compared with current performance. He added that an investment packet will be sent to trustees for review and that tax‑related information will be reviewed at the March 24 meeting.
