With over 25 years of professional experience in investments, technology, financial management and governance of pension funds and endowments, it has been my privilege to serve the Town of New Canaan in many facets of finance, budgeting and the implementation of best practices.
I have served as a member of New Canaan?s Board of Finance, chaired the Town?s Best Practices in Municipal Budgeting Task Force, represented the Town in collective bargaining negotiations, and I am a member of the Senior Healthcare and Housing Policy Development Team. My record demonstrates my ability to work, successfully and collaboratively, with New Canaan?s elected and appointed officials, employees, external constituents ? such as pension fund advisors, Town attorneys, auditors ? and our citizens. Accordingly, I believe that I can offer a new and effective approach to the position of New Canaan Town Treasurer.
New Canaan?s most recent issues ? including the Lakeview Avenue bridge arbitration, municipal bonding authority, oversight of legal bills and budgets ? illustrate the need for accountability, responsibility, better processes and communication, and underscore the need for a new approach to the role of Town Treasurer.
The Town Treasurer ? an elected position mandated by Connecticut State statute ? has general oversight responsibilities of Town receipts and expenses ? which include payments ?on the order of the proper authority?. This means that before funds are disbursed from New Canaan?s bank account, there must be clear evidence that such payments have been properly authorized.
Specific recordkeeping duties of the Town Treasurer include maintaining a record of cash receipts and disbursements, reflecting the purpose and required authorization, if any. Such information must always be open to the inspection of any taxpayer and be presented annually in a town meeting. (See State of Connecticut General Statutes, Chapter 94 Town Treasurers, Section 7-80.)? The Town Treasurer also serves as the ex officio treasurer of the Town?s trust funds, such as the pension fund. In addition, all Town bond issues require the Town Treasurer?s signature.
There are many examples of Connecticut municipalities ? such as Darien, Ridgefield, Wilton ? in which the elected position of Town Treasurer is an active ? not honorary ? role. Treasurers from these towns also serve as trustees, overseeing the money management and investments of cash balances, maintaining them at safe operating minimums and investing funds to maximize income while preserving the safety of the assets of the town.
In New Canaan, V. Donald Hersam ? the publisher of the New Canaan Advertiser ? serves as the Town Treasurer, a position he has held since 1965. Today, the responsibilities of the Town Treasurer are largely conducted by the Chief Financial Officer, a Town employee. Recordkeeping and reporting of the Town?s receipts and expenses are not readily open to inspection and have not been presented in any Town meeting ? as prescribed under Connecticut State Statutes.
If elected to be New Canaan?s newest Town Treasurer in more than 45 years, I pledge to be an active steward of our Town?s revenues and expenses; to ensure that payments are made under proper authority; to provide prudent management oversight to the Town?s cash balances and pension fund; to verify the legality and sign all municipal bonding; and, to maintain records and provide transparency for all financial matters under the jurisdiction of the Town Treasurer.
Bringing a new approach of accountability, responsibility and transparency to the role of Town Treasurer ? I seek to serve the needs of all of New Canaan. I very kindly appreciate input from across New Canaan and would be truly honored to earn your vote on November 8th.
Source: http://newcanaandems.info/2011/07/16/kathleen-corbet-running-for-new-canaan-town-treasurer/
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