By Molly McGeehin
My name is Molly McGeehin and I am asking you to re-elect me as Ridgefield’s Town Treasurer on November 5th.
When I ran for office in 2015, I promised Ridgefield residents I would create a more efficient, transparent and fiscally-sound management of Ridgefield’s financial assets.
Almost 4 years later, I believe I have delivered on those promises.
First, I vowed to review banking relationships to maximize revenue income on Town funds while safeguarding our tax dollars. To that end, I recorded $1,418,000 in investment income representing an $851,000 revenue surplus through June 30, 2019.
Second, I committed to create and distribute a cash flow analysis report to ensure Town funds are utilized to their fullest potential. I worked with Board of Finance members to create a cash flow forecasting tool with the data necessary to assist them in managing the Town’s fund balance.
A third key initiative was to develop and implement an investment policy to provide for the safety of principle, ensure sufficient liquidity to support Town operations, and maximize investment yield. With the help of the assistant Treasurer, the investment policy was rewritten and Ridgefield now has credit rating guidelines to ensure assets are invested in only the highest caliber financial vehicles.
I pledged to develop a Treasurer job description to modernize and build upon what is included in the Town Charter. Additionally, I created a comprehensive policy and procedures manual necessary for this critical Town Hall position.
I attended numerous Town meetings, opened channels of communication, and worked in a bi-partisan manner with the various Ridgefield Town boards as well as the Ridgefield Public School System’s Business Office, and my colleagues in the Town’s Finance Department.
In addition to executing initial campaign promises, I:
- Reduced cash outlays for several Town projects by securing more than $25,000 in third-party grants;
- Revised policies that resulted in the reduction of administrative and banking fees;
- Maintained regular office hours;
- Conducted “best practices” meetings with other town treasurers; and
- Attended annual state treasurers’ conferences and returned with constructive ideas for improving department operations.
I am a Certified Public Accountant and have been the sole proprietor of an accounting firm since 1996. I worked at the Ridgefield Library as Financial Director for more than eleven years. I earned an MBA in finance from the University of Connecticut and a BS in accounting from the University of Scranton. During the 29 years my family and I have called Ridgefield home, I have also been the treasurer of many community/school organizations.
As many of you are aware, the economy is sending mixed signals as to its direction and the next several years could be a period of significant change. Towns with budgets the size of Ridgefield’s are more complex than they were a generation ago requiring greater transparency, governance and standardized operating procedures. Given this uncertain economic environment, Ridgefield is best served by an experienced financial professional as its Treasurer. As such, I respectfully ask for your vote on November 5th.
The Ridgefield Democratic Town Committee provides this column.