Wednesday, April 28, 2010

Live reporting - Financial Planning Committee Report

F. HEARINGS - none


1. Report of the Financial Planning Committee
Doug Hardesty, Chair presents the update
Report link provided earlier

Anticipated State Aid decrease of approx. $1.7 M

Page 4 - tells an accurate story of the forecast plus the adjustments

(Vallee arrives late)

fundamentally, about 1% off the original forecast but all adjustments are understood and explainable

Page 5 - The high school construction project, assuming it continues roughly on schedule would not significantly affect the forecast in the next five years. The bulk of that increase is assumed to hit just after.

An 8 M shortage is realistic, a range of 5 - 10 M is highly likely given the variability of the factors in the forecast.

Page 6 - of the neighboring communities, we are #1 in receipt of State Aid. 75% above the average for State Aid.

Property taxes lower than peers, school per pupil spending is less than peers, debt service is also below the peer average
There is not a category where are spending more than our peers, we are consistently spending less

Page 7 - Decline in services has been significant
Inflation 2-3 years down the road could change the forecast
Regionalization is an opportunity for cost containment, it takes time, cooperation, and negotiation

No questions from the Council...

 Franklin, MA

No comments:

Post a Comment