Ridgefield Candidate Profile: Molly McGeehin For Town Treasurer

RIDGEFIELD, CT — The 2019 municipal election is heating up in Ridgefield and there are plenty of races with candidates eager to serve in elected office.

Ridgefield Patch asked candidates to answer questions about their campaigns and will be publishing candidate profiles as election day draws near.

Molly McGeehin is running for town treasurer as a Democrat. She has been the town treasurer since 2015.

The single most pressing issue facing our town/district is _______, and this is what I intend to do about it.
T he pace and scale of commercial and residential development.

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

In my official capacity as Town Treasurer, I am not in a position to influence the pace and scale of commercial and residential development in Ridgefield. My primary responsibility is to safeguard taxpayer dollars while maximizing return on investments. I believe other Town Boards are best positioned to navigate this challenge and allow the Town to grow in a responsible fashion while maintaining its New England charm.

What accomplishments in your past would you cite as evidence you can handle this job?
During my initial 3+ years as Ridgefield's Town Treasurer, I recorded $1,418,000 in investment income representing an $851,000 revenue surplus through June 30, 2019. I also instituted best practices for the Office of Treasurer including redrafting the Town's investment policy and creating a detailed policies and procedures manual.
The best advice ever shared with me was ...
To be true to myself and my beliefs. As the product of 12 years of Catholic school followed by 4 years at a Jesuit university, I have had quite a bit of (unsolicited) advice from nuns, priests and brothers! Their sound counsel to do the right thing resonates with me both personally and professionally even when it may not be popular with my audience. Those who know me will vouch that I strive to live by that code.
What else would you like voters to know about yourself and your positions?
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 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. Third, I developed and implemented 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 also pledged to develop a Treasurer job description to modernize and build on 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 Ridgefield Town boards, the Ridgefield Public Schools' 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 was the financial director for the Ridgefield Library 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 with proven results and a deep understanding of Town Finances . As such, I respectfully ask for your vote for Town Treasurer on November 5th.