The Finance Committee (FinCom) met on Wednesday beginning at 5:30 PM. 8 of the 9 members of the Finance Committee were present, 3 new members were sworn in officially.
Franklin TV broadcast is available for replay -> https://www.youtube.com/watch?v=QMhCNMRndj0
The agenda doc -> https://www.franklinma.gov/AgendaCenter/ViewFile/Agenda/_10222025-1961
My notes in one PDF file -> https://drive.google.com/file/d/11PCj1OfVixPiPgZ8jrk5-HD7VjH3vuEu/view?usp=drive_link
Quick recap:
- The agenda could not be completed in the time allotted before the Town Council meeting at 7:00 PM. The planned 'deep dive' on Technology was the major item as it will be rescheduled to their Nov 15 meeting.
- During Citizen Comments, M Minnechelli spoke on the economics of development proposals, i.e. 444 E Central, and the need for some body, perhaps FinCom to weigh in to help clarify the numbers that are being mentioned which are conflicting and perhaps erroneous.
- Town Administrator advised not weighing in on the specifics of 444 East Central as the public hearing is underway. However an understanding of the overall economics of development would be a good topic for a future meeting
- Much of the discussion revolved around the fiscal issues currently being faced not just by Franklin but by most communities in the State. The "perfect storm" report by the MMA was referenced. The work underway at the State level to take a new look at local contributions for Chap 70 could affect our "hold harmless" situation. The Federal cuts will affect Mass revenues, and some of that will also affect our State funding.
The MMA "perfect storm" report -> https://drive.google.com/file/d/19iUBj6jDGQuWo8XDCfhwefqnK9WlALK1/view?usp=drive_link
The Town Administrator memo of Aug 7 was refreshed as many appear to have not read it, or understood the implications -> https://drive.google.com/file/d/1UnddsW97syeHkkVjNOgRlOkKgHgOGiS0/view?usp=drive_link
The agenda doc is rich with links to important financial materials.
