172 North Main Street | Bradford, VT 05033
(802) 222-4727
Trustees of Public Funds
Elected Trustees of Public Funds
Peter Terry Term Expires March 31, 2025
Anthony Brainerd Term Expires March 31, 2026
Patricia Dwyer Term Expires March 31, 2027
Mission Statement
The Trustees of Public Funds are elected officials of the Town serving a term of three years with one term expiring each year. The Trustees properly manage funds designated by the Selectboard of Bradford to preserve the principal amount of the funds and to maximize the income of the funds in accordance with Bradford’s investment policy.
The Trustees of Public Funds are elected officials of the Town serving a term of three years with one term expiring each year. The Trustees properly manage funds designated by the Selectboard of Bradford to preserve the principal amount of the funds and to maximize the income of the funds in accordance with Bradford’s investment policy.
The funds are in “trust” and can at inception, be for a designated purpose to benefit the community. The Trustees work in concert with the Treasurer, who is in direct contact with the financial institution that holds the funds in the portfolio. Trustees will periodically review investments and make any adjustments necessary due to internal and external market conditions. The organizations whose funds it advises will make recommendations to the Treasurer and/or Selectboard for approval regarding the disbursal of funds to meet the needs of the Bradford community.
Latest Portfolio Report
In 2023, the Trustees of Public Funds managed the funds in the six accounts we oversee. These actions include ensuring that there is sufficient cash to fund project that are approved by the Selectboard; investing income from existing investments; and reinvesting the proceeds of securities that matured during the year. Our investments follow the Investment Policy approved by the Selectboar in 2022. Higher interest rates in 2023 provided a more attractive interest rate environment for the six accounts and as a result the income in the funds was enhanced compared to the previous year.
We recommended funding various projects during 2023, and the Selectboard approved the following:
Walter Lee Fund: 1) $18,640 for fencing, ice rink improvements, a skating ramp (with certain recommended conditions), and a snowblower at Elizabeth's Park; 2) $5,141 for youth sports equipment.
Bugbee Landing: Up to $4,000 to support the purchase and installation a new aluminum dock.
Elizabeth's Park: An expected request for funds for a skating ramp was funded through the Walter Lee Fund.
The Cemetery Commission did not request any funds for projects in 2023.
2022 Annual Report for Trustees of Public Funds
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