Andrew Brooks, Treasurer

I am fortunate to call New Canaan my home for the past 23 years. In addition to serving as your Town Treasurer, I have been active in our community as a Justice of the Peace, a Junior Achievement business volunteer, a Republican Town Committee member, and a New Canaan Coalition board member. I have a bachelor’s degree in economics and history from Brandeis University.

I started my financial services consulting career in Deloitte’s banking and securities practice, and I currently work in Accenture’s finance and risk practice. I partner with treasury and finance departments of global financial institutions to design robust internal controls, streamline payment and investment processes, enhance risk management capabilities, and implement strategic regulatory initiatives, including Anti-Money Laundering programs.

As your Town Treasurer, I leverage my current, relevant private sector experience to serve as a responsible steward of your tax dollars. It is important to note that treasury is not accounting. Rather than duplicating the efforts of the Audit Committee, Finance Department, and internal auditors, I add value by:

1. Protecting Your Tax Dollars

I provide of the Town’s expenditures by performing due diligence, escalating red flags to leadership, and implementing internal controls. I also secured collateralization agreements with our depository institutions to mitigate risk of bank failure.

2. Optimizing Cash Management

I maximize interest and investment income to lower your tax bill while mitigating market, liquidity, and interest rate risk. During my tenure, the Town has earned $1,000,000+ in interest and investment income. Recently, I negotiated a 44% increase on our money market interest rate which may yield $200,000+ in additional interest income. Every dollar earned in interest income is one less dollar billed to taxpayers.

3. Streamlining Processes and Reducing Costs

We consolidated about 50% of the Town’s bank accounts to minimize fee exposure and enable efficient monitoring.

4. Approving Low-Interest Bonds

New Canaan must maintain its AAA credit rating to secure the lowest interest rates on our debt issuances. I have approved bond issues at low interest rates, including a 2015 refunding issue that saved approximately $400,000 in debt service payments.

Over the past four years, I have transformed the Town Treasurer role from a ceremonial check signer into an active, independent treasury function. Change never comes easy, but I am proud of what has been accomplished and excited about delivering additional value in the years ahead.

As your Town Treasurer, I am fighting for the homeowners that want their tax dollars protected from risk and inflation; the seniors that seek optimized cash management to keep property taxes low; the parents that desire strong schools operated efficiently with streamlined payment processes; the commuters that yearn for new parking infrastructure bonded at the lowest rates. All of you constitute the fabric of our wonderful community. Change is still in progress – let’s keep the momentum going!

It is a privilege to serve as your Town Treasurer. I am always eager to speak with you – please stop me in town or email your questions and feedback to andrew@treasurerbrooks.com.