Select Board rescinds four superseded investment policies and accepts SudburyTV annual report

SUDBURY — October 7, 2025 — Sudbury Select Board rescinds four investment policies and opens Financial Policies Manual review. Meeting in the police station Oct. 7, the board voted 5-0 to rescind the 2005 Investment Guidelines, 2005 Town Trust Fund Investment Policy, 2014 Sudbury Trust Program Policy and 2012 CPA Trust Investment Policy, all superseded by a consolidated policy adopted Sept. 30. The board also accepted SudburyTV's FY25 reports 5-0; SAC board member Jeff Winston reported coverage of 487 programs, including 375 municipal meetings, total revenues of $556,971 and net income of $168,605. Town Manager Andy Sheehan opened a section-by-section review of the Financial Policies Manual, flagging the existing 3-to-5 percent free-cash target against the state Division of Local Services' revised 5-to-7 percent guidance. Member Charles Russo pushed back, saying "we're already triple-A — we got nowhere to go but down." A redline will follow the pending DLS financial management review. The board also confirmed Dan Scudder to the September 11th Memorial Garden Oversight Committee and accepted a $500 plaque donation for Heritage Park.