“Payson is making money for Wiscasset,” Investment Committee member Steve Mehrl told the Wiscasset Selectmen and members of the public during a presentation of the town’s investment results for 2012.

According to the account activity presented to the selectmen, as of December 31, 2011, there was $12,501,677 in the account, on December 31, 2012; there was $13,117,559, which shows an increase in market value of $670,944.

According to the presentation, the town’s investment gains since H.M. Payson has taken over are $2 million, with withdrawals of $866,000. “This is good news for the town,” Mehrl said.

The town took disbursements of $355,730 in July 2011 for capital improvements and $359,659 in July 2012.

“Look at what that money bought, at no extra cost to the taxpayers,” he said, showing a list of capital improvement items purchased from a percentage of interest from the investment fund.

“Increasing the assets of the town in these times is a good thing,” Mehrl said. “They have done a great job for the town.”

Daniel Lay of H. M. Payson commended the selectmen for the decisions they have made in using the disbursements from the investment fund for capital improvements for the town.

The town received good news on its investment fund; however, if Governor Paul LePage’s proposed 2-year budget cuts are approved by the Legislature, Wiscasset will lose well over $800,000 in those two years in state revenue sharing.

Ad-hoc cemetery committee

On January 8, the selectmen postponed making a decision on appointing an ad-hoc cemetery committee on the request of David Sutter, who indicated the town was obligated by the cemetery trust account to have a cemetery committee.

Town Manager Laurie Smith and Dunning researched the history of the Cemetery Association going back to 1909, and in 1955, the association was turned over to the town by a vote of the people on July 5, 1955 at a special town meeting. There is also a document from the Lincoln County Superior Court to support the transfer of the cemetery land to the town.

The town previously had a cemetery committee that had become inactive, and the selectmen considered appointing an ad-hoc committee with specific task assigned to them.

After reviewing the documentation and finding nothing to indicate they could not appoint an ad-hoc committee, the selectmen voted 5-0 to appoint an ad-hoc cemetery committee and to advertise for candidates to serve on the committee. The selectmen will appoint a 5-member committee.

Other business

The selectmen authorized the town manger to sign a one-year lease agreement between the town and Peregrine Turbine Technologies LLC.

The selectmen also authorized the town manager to sign a lease transfer agreement to transfer the ownership of a hanger at the Wiscasset Airport. Ervin Deck, airport manager, recommended the transfer.

Selectmen Pam Dunning and Jefferson Slack will serve on the committee to select a person or persons for the town report dedication.

Charlotte Boynton can be reached at 207-844-4632 or cboynton@wiscassetnewspaper.com.