As an entrepreneur and CEO I understand the importance of financial conservatism
The town has a significant current surplus in its reserve funds but we have off-balance sheet liabilities, including the public sector pension fund liability. To address this, I believe the Town should set aside part of the pending pension fund liability into a secured trust so that it is protected from future use and to make sure it is not removed by the State government, which is what happen to our town funds only a few years ago. I understand the importance of financial conservatism and believe a depleting the surplus completely to the pension fund is not prudent.
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