Edward Jones Office Administrator Accepts Limited Partnership

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NORTH ADAMS, Mass. — Patricia Kolis, a branch office administrator at Edward Jones in North Adams, has accepted an invitation to become a limited partner in The Jones Financial Cos., the holding company for the St. Louis-based financial services firm.

Edward Jones currently employs 45,000 associates in all 50 states and through its affiliate in Canada. This is the firm's 17th limited partnership offering in its 97-year history.

Kolis joined Edward Jones in 2011.

"I am thrilled to receive this invitation," she said. "I've always enjoyed my job -- it's both challenging and rewarding -- but being an owner in the firm is really exciting."

The Jones Financial Cos. was created in 1987 to enable the firm to expand into new business areas while allowing it to remain a partnership. The Jones Financial Cos. owns Edward D. Jones & Co., LP, which operates under the trade name Edward Jones, EDJ Leasing Co., the Edward Jones Trust Co., and its international financial services subsidiary, Edward Jones Canada.

 

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Clarksburg Gets 3 Years of Free Cash Certified

By Tammy DanielsiBerkshires Staff
CLARKSBURG, Mass. — Town officials have heaved a sigh of relief with the state's certification of free cash for the first time in more than three years.
 
The town's parade of employees through its financial offices the past few years put it behind on closing out its fiscal years between 2021 and 2023. A new treasurer and two part-time accountants have been working the past year in closing the books and filing with the state.
 
The result is the town will have $571,000 in free cash on hand as it begins budget deliberations. However, town meeting last year voted that any free cash be used to replenish the stabilization account
 
Some $231,000 in stabilization was used last year to reduce the tax rate — draining the account. The town's had minimal reserves for the past nine months.
 
Chairman Robert Norcross said he didn't want residents to think the town was suddenly flush with cash. 
 
"We have to keep in mind that we have no money in the stabilization fund and we now have a free cash, so we have now got to replenish that account," he said. "So it's not like we have this money to spend ... most of it will go into the stabilization fund." 
 
The account's been hit several times over the past few fiscal years in place of free cash, which has normally been used for capital spending, to offset the budget and to refill stabilization. Free cash was last used in fiscal 2020.
 
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