handout from Jim, includes listing from S&P listing the ten things for public finance that are characteristics of good planning. Franklin does in fact do all these ten things.
Top 10 List
1. An established rainy day/budget stabilization reserve
2. Regular economic and revenue reviews to identify shortfalls early
3. Prioritized spending plans and established contingency plans for operating budgets
4. A formalized capital improvement plan in order to assess future infrastructure requirements
5. Long-term planning for all liabilities of a government, including pension obligations, other post employment benefits and other contingent obligations would be optimal and allow for comprehensive assessment of future budgetary risks
6. A debt affordability model in place to evaluate future debt profile
7. A pay-as-you-go financing strategy as part of the operating and capital budget.
8. A multi-year financial plan in place that considers the affordability of actions or plans before they are part of the annual budget.
9. Effective management and information systems
10. A well-defined and coordinated economic development strategy
The source for this listing is the S&P article found here
add vital signs and trends, i.e. stabilization fund in 2003 vs 2010 stark difference.
7 - FAQ (Kelly)
summarizing from over all the sources, the questions that have been raised.
trying to provide a quality of life for all members of the community
is a student with and IEP considered a SPED student? or are they categorized separately
8 - Financial Terms (Nutting)
if the state would allow we would do these things
the capital budget
the debt and narrative
the FAQ draft should also be answered from the town figures
discussion on setting up the focus group to review the draft of the report
what is the date for the deliverable? then set the date for the focus group
Feb 5th to internally review the draft
Formalize the draft by the 29th
Focus group on March 5th
half the group gets the report before hand, half gets it upon the entry
will get feedback on presentation simplicity