Date: Fri 24-Apr-1998

By STEVE BIGHAM

Published: Aug 11, 1999 12:00 am

Publication: Bee

Author: STEVEB

Quick Words:

Hawley-Trust-fee-Fleet

Full Text:

Fleet Gives Town A Break On Hawley Trust Fees

BY STEVE BIGHAM

Fleet Bank of Hartford recently announced that it would reduce the annual fees

owed to it by the town for maintaining the Mary Hawley Trust Fund.

By agreeing to change the fee structure, the bank will be saving the town

approximately $1,500 for the Cyrenius H. Booth Library trust, $1,170 for the

Edmond Town Hall trust, and $2,000 for the trust at Hawley School.

Town officials recently met with the bank to discuss cutting costs and had

sought to save even more money by combining the three trusts into one.

However, according to Fleet Investment Services vice president, Irene Melasky,

each of the trusts was established separately by Mrs Hawley under separate

documents.

Nevertheless, the bank, responsible for making sure Mrs Hawley's will is

carried out, agreed to the decrease annual fees.

According to Richard Sturdevant, chairman of the library's finance committee,

the trusts' income formula will not change; 50 percent in equities and 50

percent in treasury bonds.

Each of the trusts only earns about 3 percent interest on its principal,

hardly enough to maintain the buildings, especially the library and Edmond

Town Hall. The library receives about $56,000 annually from the Mary Hawley

Trust Fund. The Edmond Town Hall Board of Managers is also having difficulty,

collecting even less money.

Back in 1930, Miss Hawley created the trusts with strict orders that the

Hartford National Bank not change the way the money was invested. There were

no mutual funds in those days and the money was invested very conservatively

at the sole discretion of the bank. The banks have merged since then and the

trusts are now in the hands of Fleet Bank. However, despite efforts by the

town to change the portfolio, the bank has refused to budge.

A change in the trust's portfolio can be authorized by a probate judge, and

town officials are hoping they'll be able to upgrade the investment at a

tri-annual review.

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Well that is some spin. The Democrats have a super majority on the LC and passed the Education Budget without serious consideration of if the voters could afford the multi million dollar increase. "Was the request justified?" rather than "is this needed?" and "can the voters shoulder yet another large increase?" The voters rightly sent it back. Then for some reason all the discussion around reductions to the increase seemed to be coming from the classroom, rather than administration and overhead costs. Is this a coercive tactic to manipulate parents into supporting the budget like tacit threat of cutting freshman sports was two years ago? Who believes the Democrats did not caucus privately before the meeting and came in with a number already worked out? This is the Dems budget, they own it.

Education Cuts: Who Voted For What

I think it is important that we do not villainize every black box seen around a home, business, farm, or municipal property. A black exterior station does not always mean rat poison is being used. These stations can hold a number of different products, including monitoring blocks, snap traps, non-toxic bait, anti-tick bait stations, organic salt- or cornmeal-based control products, and newer fertility-control approaches intended to reduce rodent populations without traditional poisons. The better conversation, in my opinion, is not simply “black boxes are bad,” but rather: what is inside them, who is maintaining them, and whether the rodent issue is being managed responsibly. Exclusion, sanitation, trapping, habitat reduction, and careful monitoring should all be part of a responsible IPM strategy. To be fair, on my own property I do use rodenticides, including Bromethalin and Bromadiolone, in secured bait stations. But that is a choice I make for my property, based on my circumstances and the risk I am trying to manage. I also believe property owners should understand the tradeoffs and be encouraged to use the least harmful effective method whenever possible. I support protecting Newtown’s wildlife. I also support giving residents accurate information and not assuming that every black box represents reckless or unsafe pest control. The goal should be responsible rodent management, not fear of the box itself.

Discusses Policy Against Rodenticides

Debora, thank you! I accidentally doubled the project prices by adding the bond to the appropriation. Thank you so much for catching that and pointing it out. With the corrected numbers, the voters approved a combined $1.32 million for a salt shed ($600k) and library pavement ($720k), while rejecting the $1.12 million replacement turf. Regarding the 80s, I truly respect the hurdle of 14% mortgage rates. My point is simply that the math has shifted: in 1980, while the rates were higher, the price of a home relative to earnings was significantly lower. We are facing a different, but equally crushing, financial wall. Ultimately, it is disheartening that voters who recognized safe sidewalks and parking lots as essential, dismissed a playing field in the exact same condition. The turf has passed its life cycle and is just as much of a liability as the library’s pavement, the only difference is that this safety concern affects thousands of children who, coincidentally, cannot vote. These are apples-to-apples needs. I was hopeful our community would agree that all Newtown residents deserve safe conditions, regardless of which facility they utilize. Again, I would be remiss not to mention that when 82% of residents don’t show up, we have to deal with the interests of those who did. Hopefully, the next referendum will have a bigger turnout.

The ‘Me’ Generation

Thanks for the reply. I meant the numbers you presented in your letter. I found one place where other numbers were listed: https://www.newtownbee.com/04232026/get-out-and-vote-on-the-2026-27-proposed-municipal-and-school-budgets/?q=\\\%22advisory%20questions\\\%22. In that article, the numbers were cited as: Treadwell field: $1,125,000 Library: $720,000 Salt Storage: $600,000 As one who started out in the early 80's when inflation was double digits, my 1985 mortgage rate was 14%, and child care costs were comparable (in present value), I shared your grief but never considered the voters ironic or shameful. PS. I agree college tuition is ridiculous. Thankfully, universities are offering (or considering) waiving all or most tuition for middle class families (upwards of $200,000 incomes). Hopefully, they'll also reconsider their need for those funds in the first place.

Sure! Child care costs: https://www.ffyf.org/2022/10/13/data-child-care-prices-continue-to-rise-ahead-of-midterm-elections-outpacing-inflation/ (also from 2021-2025 we had 2 children in a local daycare in Newtown and it cost us $3200 a month, so that's a number I am very familiar with) Home price / median price vs income source: https://www.jchs.harvard.edu/home-price-income-ratios Tuition increase vs inflation: https://feed.georgetown.edu/access-affordability/noting-a-decline-in-middle-class-students-colleges-provide-more-aid/ Hope this helps :)

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Date: Fri 24-Apr-1998

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