Saturday, May 9, 2020

"it may not be pretty, but this is the situation we’re in”

From the Milford Daily News, articles of interest for Franklin:
"There are many possibilities for how lawmakers might tackle next year’s budget, Senate President Karen Spilka said, but the pandemic’s shocks to state revenues may mean the idea of passing one-month budgets while a full spending plan is developed would need to look different than it has in the past.

The economic turmoil created by the COVID-19 crisis began as Beacon Hill’s budget season approached - typically, the House passes its budget in April and the Senate in May. The final budget is due by July 1, the first day of the new fiscal year, though lawmakers have often negotiated beyond that deadline and passed “one-twelfth” budgets that allocate enough money for a month of operations, based on the previous year’s spending.

With the normal timeline thrown off course and the pandemic’s full economic impact not yet quantified, it’s still unclear when the Legislature will take up the fiscal 2021 budget or what its bottom line will be.

The set of emergency rules the House adopted this week gave the House Ways and Means Committee until July 1 to report out its version of the budget, and S&P Global Ratings said in a recent bulletin that it expects Massachusetts to adopt a fiscal 2021 budget this summer."
Continue reading the article online (subscription may be required)

The FY 2021 budget will definitely be a challenge for Franklin. It has been part of the weekly conversation with Town Administrator Jamie Hellen. The Budget Subcommittee met on Monday, May 4. The Joint Budget Subcommittee (School Comm budget team, Finance Committee, and Town Council Budget Subcommittee) will meet on Monday May 11.

Budget Subcommittee audio

Talk Franklin with Town Administrator Jamie Hellen - May 1

The Town of Franklin budget page

"it may not be pretty, but this is the situation we’re in”
"it may not be pretty, but this is the situation we’re in”

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