The Bedford Trust Funds are comprised of capital improvement funds (CIP) and private funds. The CIP funds are appropriated by the Town and by the Schools to pay for such things as purchasing new equipment, building upgrade/repairs, and other infrastructure upgrade/repairs. The private funds are donated for cemetery maintenance, scholarships, and the library.
Trustees & Terms
The Trustees of the Trust Funds are volunteer citizens who serve in a fiduciary capacity on behalf of the citizens of the Town to manage the money entrusted to them. There are three elected Trustees. Each Trustee is elected for a 3-year term, and the terms are staggered to preclude 2 vacancies during the same election. Vacancies are filled by the Town Council until the next election cycle.
The Trustees of the Trust Funds:
Maintain custody of all trust funds held by the Town of Bedford and the Bedford Schools.
Manage the investment of the trust funds together with their orderly receipts and disbursements.
Provide an annual report that is published in the Town’s annual report. This document lists the major categories of funds and their return on investment for the year.