To the editor: Better investment choices would have boosted Cyprus Mineral Fund

On Sept. 10, 2025, you reported on the Select Board discussions regarding the potential uses for the Cyprus Mineral Fund.

It is clear that it will be up to the Select Board to decide what the best use of the funds will be.  I would like to point out however, that the historical stewardship of the fund appears to be one of neglect.  While the Select Board has not used any of the fund, it has allowed it to sit for 41 years losing purchasing power.

When adjusted for inflation, the fund is worth meaningfully less today than when it was established in 1984.

Had the Select Board simply chosen to direct the funds to be invested in 100 percent safe U.S. Treasury Bills, notes or bonds, the balance of the fund today could have been worth nearly $500,000 (at a 4 percent rate) or more than twice the current $223,000 balance.

Furthermore, given that the fund was to be held for a long period of time, had it been simply invested in an S&P 500 index fund it would be worth millions today.

I agree entirely with Derek Suursoo’s comment regarding the need for a “rock solid financial policy” before the fund is put to use.  This policy should include how funds are to be invested.  Taxpayers and residents should expect that the actual stewardship of town funds be scrutinized as much as the expenditure of such funds. One can only imagine how the Town of Chester could have benefited today from a reasonably invested Cyprus Mineral Fund.

Sincerely,
Jimmy Neissa
Chester