To the Editor:
I think many voters may underestimate the roles and responsibilities of the city treasurer’s position in Bristol. Those responsibilities are not only detailed in the in the Connecticut General Statutes, but also in the city of Bristol’s charter and include the following: serve as the custodian of public funds, keep an accurate record of all receipts and disbursements, invest funds to gain maximum interest income, is a trustee of the city’s pension funds, is responsible for the distribution of pension benefits.
Tom Barnes has served in the city treasurer’s position for three terms (six years). Because of his expertise in money, banking and investing, the city has been fortunate to have experienced a reduction in its bank fees while at the same time increased its investment income during a time of extremely low rates of returns. Tom also formulated a policy for the investment of designated municipal funds and is currently developing a program that will help protect the core pension fund assets during difficult economic times. He has also forged a collaborative relationship among others who have responsibilities for the management of city finances.
These functions are critical to the financial stability of the city of Bristol. All Connecticut towns and cities are experiencing difficult economic times. Bristol is fortunate to have someone of Tom Barnes’ training and expertise for the treasurer of the city of Bristol.
John E. Smith