FM #144
This internet radio show or podcast is number 144 in the series for Franklin Matters.This recording is of the Finance Committee final budget hearing for the FY 2019 budget review. The meeting was held on Tuesday, April 24, 2018. The meeting began at 6:00 PM.
The school budget, Police Dept, and Technology budgets were reviewed and discussed before the committee made its vote to recommend the budget as proposed to the Town Council. The Town Council budget hearings are scheduled for May 16 and 17. The budget is currently unbalanced and the Town Council will need to vote to use approx $1.4M of the debt stabilization account to balance the budget as required.
As mentioned at the beginning of the budget hearings, this is the proposed approach to address the budget shortfall this year, effectively buying some time for many new players in key roles. The FY 2020 budget will also be an issue and by this move (use of debt stabilization funds), there will need to be either an override discussion or significant cuts to the services.
The use of the revolving funds on the school budget side and the use of the debt stabilization funds on the Town side creates a hole that will require some serious discussion and action to resolve. There won’t be an opportunity to avoid the discussion next year.
The meeting itself runs about 39 minutes. My notes were captured via Twitter for this meeting and can be found at FranklinMatters.org/
http://www.franklinmatters.org/2018/04/finance-committee-recap-fy-2019-budget.html
Without further ado, here is the audio recording.
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The music for the intro and exit was provided by Michael Clark and the group "East of Shirley". The piece is titled "Ernesto, manana" c. Michael Clark & Tintype Tunes, 2008 and used with their permission
I hope you enjoy!
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