Ayer Library Trustees Vote to Move Trust Funds Under Town Treasurer Control

AYER -- December 3, 2020, Ayer Library Board of Trustees votes to transfer trust funds to the town treasurer's office. The board voted unanimously at its December 3 meeting to move its privately held trust accounts, including several named memorial funds, under the administration of Town Treasurer Barbara Turney, effective January 1, 2021, with accounts to remain segregated and interest credited individually to each fund. Turney told trustees the town already manages roughly 15 scholarship trusts through a similar arrangement using the municipal investment firm Bartholomew. CPA Cindy Thomas confirmed that donations to municipal accounts remain tax-deductible on par with 501(c)(3) contributions. The board also unanimously approved a preliminary level-funded fiscal year 2022 operating budget for submission ahead of the town's December 4 deadline, with Library Director Tim Silvery estimating a projected bottom line near $620,600 once staff cost-of-living adjustments are folded in. An 8-by-10-foot curbside pickup shed is set for installation at the main library entrance on December 10, and three Wi-Fi hotspot or tablet devices are already circulating under a new lending program.