Live reporting - Long Range Financial Planning Committee
Present: Doug Hardesty, Deb Bartlett, Craig DiMarzio, Graydon Smith, Sue Rohrbach, Steve Whalen,
Absent: Jeff Nutting, Orrin Bean, John Hogan, Ken Harvey, Tina Powderly
Approval of minutes - postponed to next meeting
Action items - none
Discussion:
Metrics and benchmarking - Steve Whalen (Vice Chair, Town Council)
background, research analyst for an investment banking firm
drawn in by a comment made by J Nutting at a meeting sometime ago; "a town's budget is a reflection of their values"
started collecting data, started with a map and filled in data for the communities around us
The DOR site is a tremendous source of info, so much data is available
came up with 30 communities
walking through the info on his comparison worksheet
color coded communities by single versus split tax rate
we have a low tax rate compared to other communities with either a split or single tax rate
we are 21st in comparison on the average tax bill (of the 30)
we are 26th on relative tax burden which is a comparison of tax rate to community wealth
we rank 28th in percent of local property tax contributing to the total community revenue
we rank 1st in the percent of state aid contributing to the total community revenue
Absent: Jeff Nutting, Orrin Bean, John Hogan, Ken Harvey, Tina Powderly
Approval of minutes - postponed to next meeting
Action items - none
Discussion:
Metrics and benchmarking - Steve Whalen (Vice Chair, Town Council)
background, research analyst for an investment banking firm
drawn in by a comment made by J Nutting at a meeting sometime ago; "a town's budget is a reflection of their values"
started collecting data, started with a map and filled in data for the communities around us
The DOR site is a tremendous source of info, so much data is available
came up with 30 communities
walking through the info on his comparison worksheet
color coded communities by single versus split tax rate
we have a low tax rate compared to other communities with either a split or single tax rate
we are 21st in comparison on the average tax bill (of the 30)
we are 26th on relative tax burden which is a comparison of tax rate to community wealth
we rank 28th in percent of local property tax contributing to the total community revenue
we rank 1st in the percent of state aid contributing to the total community revenue
Continue reading about the meeting and the introduction of the community comparison
The five year forecast the Committee put together and completed (in 2012) has been updated and re-issued each year as part of the budget cycle.
The initial 2012 report:
The FY 2018-2022 version can be found here
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| On this date: Feb 23, 2011 - Long Range Financial Planning Committee meeting |
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