LOCAL Voices: Election 2009

What does the Town Treasurer do?

By Peg O'Donnell
Incumbent Candidate for Redding Town Treasurer

[Sept. 10, 2009] What does the treasurer DO, anyway? I have been asked that question too many times to count. The treasurer is the person who manages the town’s cash flow and is accountable for securing debt for the town. The treasurer is responsible for managing the relationships that revolve around those activities, which means interacting with bankers, financial advisors and legal counsel. The treasurer signs all checks that leave town hall and releases funds for debt payments.

Those are things that the treasurer does. What the treasurer does NOT DO is just as important to understand. The treasurer does not prepare the town budget or set the mil rate. The treasurer does not make financial policy decisions for the town. The treasurer does not handle town or school payroll. All those duties are specifically given to other individuals. The treasurer’s job is an administrative position. The treasurer implements the decisions of others while assuring that the interests of the town are protected and that the town’s cash assets are secure.

This has been my job for almost 8 years. I will continue to carefully manage the town’s cash while working with our financial advisors to assure that our debt is handled responsibly. My experience on the job, and my training as a Certified Public Accountant have given residents the comfort of knowing that I have the qualifications necessary for this post. I look forward to another 2 years in this important position, and I ask for your vote in November.