The Granite Lake Village District was created in 1992 as a government entity whose sole responsibility is to manage the impoundment of the waters of Granite Lake (including the water level of the lake, and maintenance, repair, improvement, replacement, and inspection of the dam).  The GLVD  is its own Municipality compromising residents from both Nelson and Stoddard.  They are required to comply with all the municipal rules, regs, and financial reporting as any town.  They set their own budget which determines the taxes raised for the village district by each town, based on mill rate and evaluation. As a municipality, the Village District holds public budget hearings and an annual meeting to approve the warrant.  Major expenses include liability insurance, dam registration and license fees with the State of NH, municipal association fees, ongoing maintenance of the dam, and developing a cash reserve for major repairs or replacement.  The Village District municipal officers include three Commissioners each elected for a term of three years, and a Secretary, Treasurer and Moderator, each elected for a term of one year.   The dam is inspected by the NH DES every other year to ensure its integrity.