Financial Capital: Guilford, Connecticut

Guilford, Connecticut’s form of government consists of the Board of Selectmen, Town Meetings, and the Board of Finance. The Board of Finance is a town department that helps create a variety of programs, projects, and assets that advance the community’s economic, social, and infrastructure development (Beaulieu, 2014). The Board of Finance includes the Finance Director who directs, controls and coordinates the financial activities of the town government (The Town of Guilford). The major job of the board is to create a proposed budget estimate for the year. For the summary of the 2016-17, expenditures total was $93,185,580, of which 66% goes to the Board of Education. The budget that was submitted covers the amounts necessary for the operation of the town’s activities and is voted on at the Town Budget Meeting. This budget determines the tax rate necessary to cover it (Guilford Budget).

Guilford Savings Bank Scholarship Recipient 2016

Guilford Savings Bank Scholarship Recipient 2016

Guilford Savings Bank is a community mutual bank founded in Guilford and is across three towns on the shoreline. It is committed to the community, remains a mutual savings bank with no stockholders. They often give back to the community, in 2015 hey donated $250,000 to the local community and supported 260 community organizations. Additionally, they provide funds to  community foundations that support low-income families and scholarships to youth who are active in their communities (Guilford Savings Bank).

References:

Beaulieu, Lionel J (2014, October). The Community Capitals Framework. Retrieved from https://bb.uvm.edu/bbcswebdav/pid-1974975-dt-content-rid-8608546_1/courses/201609-93567/Community-Capitals-Framework-Writeup-Oct-2014.pdf

Guilford Budget. Retrieved from http://www.ci.guilford.ct.us/pdf/updates-Guilford%20Budget%20June%203%202016.pdf

Guilford Savings Bank. Giving Back. Retrieved from https://www.gsb-yourbank.com/giving-back/donations

The Town of Guilford. Finance Department. Retrieved from http://www.ci.guilford.ct.us/finance.htm