Trustees of the Trust Fund

The Trustees of the Trust Fund are elected officials whom oversee the Town’s investments in the NH Public Deposit Investment Pool (NHPDIP). The Trustees of the Trust Funds comprises three elected officials authorized by NH State Statute (RSA 31:19-38-a) to administer trust funds such as capital reserves appropriated by taxpayers at Town Meeting.

The Trustees of the Trust Funds act in a fiduciary capacity and make decisions regarding the release of funds from the capital reserves to the general fund. Authority to administer trust funds is vested solely in the trustees, and income, therefore, cannot be turned over to selectmen for purposes contrary to the objectives of the taxpayers.

The Trustees of the Trust Funds oversee the investment of the capital reserves based upon statutes and the investment policy adopted by the Trustees.

Trust funds do not include the general working capital of the Town or bond proceeds; the Town Treasurer is responsible for cash management and investment of these assets.