Cohasset chasing a Triple AAA rating

Town Manager Chris Senior met with advisor Monday night over a draft policy for investment and debt policies being proposed by Town Treasurer Paula Linhares. Senior told advisors that Linhares’ recommendations were important for long-term credit policy.

Peter Pescatore, chair of the advisory committee, said the town was facing a $6-$8 million town hall renovation in FY 16, with anywhere from $500,00 to $800,000 being requested for construction plans at the upcoming Annual Town Meeting. Pescatore said an unuknown sum of operating money woud be necessary in the FY16 budget for a a Senior Center that had recently broken ground.

Pescatore said Linhare’s proposal would codify how funds should be managed, saying that the policy votes she was seeking did not exist at the present time, and that it was important for the town to get the best financing for future projects.

Advisors asked if a committee should be formed to work with Linhares on a quarterly basis, to implement the policies she was proposing. Town Accountant Mary Gallagher noted that Linhares already had a professional advisor.

Selectman Martha Gjesteby said she thought it might be a good idea for the selectmen to appoint an investment committee.

In related good news, Senior announced that the town’s website was being worked on as of Monday, Feb. 24 and in the near future all documents would be published there-in/on.

 

© Copyright 2014 Tanna K, All rights Reserved. Written For: Tinytown Unleashed
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