Fiscal 2015 has been another very busy year in the Treasurer-Collector’s office.
The fiscal year began and ended with very low investment interest rates (MMDT – .20%). On the borrowing side, the low rates had a positive effect. In February of 2015 we refunded bonds from 2006 and 2007 for $6,920,000. The refinancing will generate total savings of $603,906 over the remaining life of the Bonds. Janney Montgomery Scott LLC was the winning bidder on the Bonds with an average interest rate of 1.931%.
Prior to the sale, Standard and Poor’s Ratings Services, a municipal credit rating agency, affirmed the Town’s AA+ bond rating. The rating agency cited the Town’s very strong economy, strong management with good financial policies, strong budgetary flexibility, very strong liquidity, very strong debt and contingent liability position and strong institutional framework as positive credit factors.
In May of 2015 we issued a 1 year Bond Anticipation Note (BAN) for $3,250,000. It included $3 million for continued FHS construction and $250,000 for Library planning and design. TD Bank was the winning bidder on the BAN with a weighted average interest cost of .3747%.
During FY 2015, $152,140 was collected in back property taxes, interest and fees. Fourteen property owners paid off all outstanding taxes and redeemed their properties out of tax title. We continue to pursue delinquent taxes through the foreclosure process and there are currently 30 properties in Land Court. Since 2001 we have foreclosed on 55 properties. Some properties will eventually be auctioned off and the rest will remain as town property.
There were 899 Municipal Lien Certificates issued by the Treasurer-Collector’s office generating revenue of $44,950. Also collected was $2,856.00 in fees for duplicate bills and files that we supplied to tax services and escrow agents. During FY15, the Treasurer-Collector’s office printed and mailed 43,632 Real Estate Tax bills; 2,140 Personal Property Tax bills; 32,821 Motor Vehicle Excise Tax bills; and 39,359 Utility bills. The following Demands were also printed and mailed; 588 Real Estate Tax, 98 Personal Property Tax, and 4,422 Motor Vehicle Excise Tax. There were 2,013 Motor Vehicle warrants issued in FY15. There were 14 Betterment releases (water, sewer and road) generating revenue of $56. We also collected $96,600 for backflow testing and $63,500 for Sprinkler/Hydrant charges.
The Treasurer also acts as the town’s parking clerk. Our deputy collector, Kelley and Ryan Associates of Hopedale, handles the billing and collection of parking tickets. During FY15 we collected $30,890 for parking violations.
I would like to thank all town departments for the timely and accurate turnover of fees to the Treasurer-Collector’s office. I also would like to thank the first-class staff of the Treasurer-Collector’s office for their continued hard work. Finally, I thank the citizens of Franklin for their continued support.
Respectfully submitted,
James P. Dacey
Treasurer-Collector
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"Prior to November 1 of each year, the Town Clerk shall cause to be prepared and made available to the inhabitants of the Town an annual report for the preceding fiscal year which shall include: the annual Town budget, the reports of all Town officers, the records of all Town Council bylaw amendments and resolutions, an abstract of births, marriages and deaths, and the wages, salaries, or other compensation of all Town employees." [Added 5-2-2012 by Bylaw Amendment 12-681]
Shared from the full and complete PDF version of the Town of Franklin Annual Report for 2015
For additional information you can visit the Treasurer-Collector's page
http://town.franklin.ma.us/Pages/FranklinMA_Treasurer/index
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