Patch Candidate Profile: Andrew Brooks, New Canaan Treasurer

NEW CANAAN, CT — The 2023 municipal election is heating up in New Canaan and there are plenty of local races with candidates eager to serve in elected office.

New Canaan Patch asked candidates to answer questions about their campaigns and will be publishing candidate profiles as Election Day draws near.

Republican Andrew Brooks, 37, is a New Canaan resident running for treasurer.

Education

Brandeis University: Bachelor of Arts in Economics and History

What is your occupation?

Incumbent Town Treasurer (10 years); Financial Services (14 years)

Do you have a family? If so, please tell us about them.

I grew up in New Canaan, and my parents and brother continue to live in town.

Does anyone in your family work in politics or government?

No

Have you ever held a public office, whether appointive or elective?

Yes, I was elected to my first two-year term as New Canaan Town Treasurer in 2013 and was re-elected in 2015, 2017, 2019, and 2021. I also serve New Canaan as a Justice of the Peace, an appointed position with four-year terms. I was initially appointed to this position in 2009, and was reappointed in 2013, 2017, and 2021.

Now we'd like to ask a few questions about your reasons for running and your general views on politics and government. First, why are you seeking this office?

I am seeking re-election as Town Treasurer so I can continue delivering value-added service for the benefit of all New Canaanites. Over the past 10 years, I transformed the role from a ceremonial position into an active, independent treasury function, serving the interests of all residents by enhancing internal controls and significantly increasing investment income.

In addition, beginning in November, New Canaan will have a new Board of Selectmen, a new Town Council Chair, and a new Board of Education Chair. I have institutional knowledge and treasury experience to support our new leadership with managing the Town's operations.

Please complete this statement: The single most pressing issue facing my constituents is ___, and this is what I intend to do about it.

The single most pressing issue facing my constituents is the town-wide property revaluation that began on October 1. It is completed every five years and resets the town's Grand List, resulting in some properties experiencing a significant increase in their appraised value and a corresponding increase in their share of property taxes. I intend to offset some of that increased tax burden by continuing to prudently invest the town's tax collections. Every cent earned in investment income offsets an equal amount of taxes that would otherwise need to be collected.

What are the major differences between you and the other candidates seeking this post?

N/A

If you are challenging an incumbent, in what way has the current officeholder failed the community?

N/A

What other issues do you intend to address during your campaign?

The following are my top priorities:

(1) Protect Money: I will work with our Town and BOE CFOs, Board of Selectmen, Board of Finance, Town Council, and Audit Committee to ensure internal controls remain effective and our funds remain insured and collateralized.

(2) Make Money: As the Town’s Chief Investment Officer, I will monitor changes to the Federal Reserve Board’s monetary policy and leverage my financial industry experience to maximize income on the Town’s cash.

(3) Save Money: I will continue monitoring the State Treasurer’s website for unclaimed funds. I will also finance new Town debt at the lowest possible rates to fund capital projects, such as the new Police Station.

What accomplishments in your past would you cite as evidence you can handle this job?

My accomplishments over the past 10 years include:

(1) Generating $10M+ of additional revenue by investing cash reserves, negotiating higher money market interest rates, and refinancing Town debt at lower interest rates;

(2) Blocking $2M+ of unauthorized or incorrect payments being made by enhancing invoice due diligence and transaction monitoring; and

(3) Maximizing insurance and collateralization of New Canaan's cash to mitigate custodial credit risk, which was of great importance for weathering multiple bank failures earlier this year.

What is the best advice anyone ever gave you?

The ends never justify the means - process matters. Continuous process improvement and stakeholder engagement are crucial for generating the best outcomes.

Is there anything else you would like voters to know about yourself and your positions?

I am a 29-year resident of New Canaan and a proud graduate of our public school system (NCHS Class of 2005). In addition to serving as Town Treasurer since 2013, I have served as a Justice of the Peace since 2009 and as an active member of various organizations, including the Government Finance Officers Association, the Rotary Club of New Canaan, the Exchange Club of New Canaan, and the Ram Council Foundation (currently a Board Member and Treasurer).

As Town Treasurer, I take pride in working in a nonpartisan manner with stakeholders across the political spectrum to achieve results for all New Canaanites. I utilize collaborative problem-solving skills and my professional experiences in banking, capital markets, and payments at Fortune Global 500 financial institutions to enhance New Canaan’s treasury management. During my tenure, I have refinanced our bonds at historically low interest rates and actively managed the Town’s General Fund to maximize investment income while mitigating risk. These actions have saved millions of dollars for New Canaan taxpayers. I ask for your support for re-election so I can continue optimizing cash management and implementing additional cost saving initiatives in the next term!