Compensated Leave Trust Fund
First Established: 2009
Purpose: To provide payment of compensated leave to Town employees in order to fully fund such benefits over time to avoid the expenditure of large unanticipated sums that would otherwise endanger the financial and operational requirements of the Town.
Established by: 2009 Town Meeting. First deposit: December 2011
2016 Year-end Balances: Principal $457,673; Income $18,687.
Investment Policy: Invest in conservative instruments.
Current Investment: Diversified Common Capital Reserve Fund portfolio.
Principal and Income Distributions: Upon written request by Board of Selectmen.