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News of Otsego County

Derek Bloomfield

Treasurer Derek Bloomfield Swaps Village Job For Entrepreneurship

Treasurer Derek Bloomfield Swaps

Village Job For Entrepreneurship

Derek Bloomfield poses in front of the safe in his Village Hall office, which he will be departing at the end of May. (AllOTSEGO.com photo)

COOPERSTOWN – Village Treasurer Derek Bloomfield has given notice, planning to leave his post at the end of May to manage his downtown Oneonta building.

Bloomfield said he will have served two years handling village finances, and thinks that enough.  During that time, he has adjusted and streamlined the village’s portfolio, often receiving accolades from the trustees.

The treasurer said he owned 180-184 Main St. in Oneonta, which includes Tino’s Pizza and a hair salon on the Main Street side, and LEAF and another rented unit on the Water Street side, as well as six apartments.

TRUSTEES CAST OUT OIL STOCKS

TRUSTEES CAST

OUT OIL STOCKS

Village Trustee Lou Allstadt, left, and Village Treasurer Derek Bloomfield offered differing view on using taxpayers money for
Village Trustee Lou Allstadt, left, and Village Treasurer Derek Bloomfield offered differing view on using taxpayers money for “social investment.” (Jim Kevlin/AllOTSEGO.com)

S&P 500 Stocks Shifted To S&P 475

By JIM KEVLIN • for www.AllOTSEGO.com

COOPERSTOWN – Rejecting the advice of the village treasurer, the Village Board this evening voted unanimously to shift its investments in S&P 500 stocks over the next year into an S&P 475 scrubbed free of fossil-fuel companies.

Trustees acted despite Treasurer Derek Bloomfield, citing guidelines for CFAs (chartered financial analysts), advising them that a fully diversified portfolio, including fossil-fuel stocks, is the most stable. “Social investment should be done with one’s own money,” he said.

New Treasurer At 1st Village Board Meeting

New Treasurer At 1st Village Board Meeting

Village Treasurer Derek Bloomfield made his first appearance at a Cooperstown Village Board meeting this evening after his appointment in May to the $50,000 position.  He succeeds Ed Keator, who left the position at the end of April.  Bloomfield, an Oneonta resident, was a visiting professor of finance at Hartwick College last year.    To his left are DPW Superintendent Brian Clancy and resident Tony Casale, the retired assemblyman.  (Jim Kevlin/allotsego.com)
Village Treasurer Derek Bloomfield made his first appearance at a Cooperstown Village Board meeting this evening after his appointment in May to the $50,000 position. He succeeds Ed Keator, who left the position at the end of April. Bloomfield, an Oneonta resident, was a visiting professor of finance at Hartwick College last year. To his left are DPW Superintendent Brian Clancy and resident Tony Casale, the retired assemblyman. (Jim Kevlin/allotsego.com)

 

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