Showing posts with label OPEB. Show all posts
Showing posts with label OPEB. Show all posts

Sunday, April 18, 2021

Recap: Town Council Mtg- Apr 14, 2021 - Sheriff McDermott, OPEB update, GATRA, zoning for parking, etc.

Quick Recap:

Four presentations and resulting discussions dominated the meeting
  • Sheriff McDermott highlighted services his organization provides
  • The OPEB funding status was updated; the actuarial funding requirements are required every 2 years, this is the 'off year'
  • The new Executive Director of GATRA appeared to provide updates on changes and answer questions on the service problems seen by the community
  • Downtown parking zoning requirements were reviewed, a revision to the current bylaw is expected to come through the Economic Development Subcommittee in the future

----
As with most meetings in this pandemic period, I took my notes via Twitter during the meeting reporting in real-time via the virtual session.
 
The Twitter hashtag can be found online  #tc0414

https://twitter.com/search?q=%23tc0414&src=typed_query 

Photos captured during the meeting and shared via Twitter can be found in one album:  https://photos.app.goo.gl/uRFDiy1NawmyttBw9

Audio segments for the meeting will be available in a couple of days

Proclamation
  • Minutes, none - Proclamation for Dr. Diane D'addario Cathy Liberty, Director of Public Health, along with Chief McLaughlin to recognize her for the support processing the vaccine clinics. #tc0414 Councilor Frongillo reads proclamation
License transaction
  • License transaction, Shaw's change of Manager for wine/malt license. #tc0414 motion and second, simple paperwork to acknowledge, Attny and manager present via Zoom; experienced but not previously manager of record. ServeSafe certified. Vote via roll call, 9-0
Sheriff McDermott 
OPEB update
  • Next up, the OPEB update. #tc0414 Dan Sherman provides the details
  • A great spot at about 10% funded level for OPEB #tc0414
  • Were at 7.7 last year not at 8.5% funded, a good position. #tc0414
  • We are chipping away at this, and being in the top 10% top 25% and that is good. Only one Community funded, Wellesley but they funded via prop 2.5 so they are still paying it off so he doesn't count that. #tc0414 OPEB board page for ToF https://www.franklinma.gov/opeb-board-trustees 
  • There is no law requiring funding by a date, once Norfolk pension is funded then those funding amount can be shifted to OPEB and make greater inroads. #tc0414
GATRA
  • Next item, GATRA leadership team. Mark Souza started Feb 2020 so his first year is likely a story. #tc0414 Mark has an issue with the audio connection, retrying.
  • Mark connected via the "old fashioned way" via phone #tc0414
  • Micro-transit; call on demand via an app like Uber or Lyft. Senior dispatch can still call the same number. Transportation opened up. Started in Dec with 489, reached 2000 in March. #tc0414 pilot allows to build the data to expand the program.
  • Not at full service; phone numbers haven't changed so they can still call. #tc0414 could go from Franklin to Gillette and then to Mansfield with two trips. Micro transit is on demand via an app, picking up one or two COVID, each ride is $2. It is public transportation
  • Oh, and there was mention of a radio show with Franklin Matters. No, not me. Did share the press release they made in Dec but that was about it. #tc0414 https://www.franklinmatters.org/2020/12/gatra-launches-innovative-on-demand.html 
  • COVID money revamped office operations, added barriers for drivers and passengers on buses, upgraded ventilation on buses, etc. #tc0414 there were federal guidelines for how used, and they stuck to it. We have the inventory to handle those trips.
  • #tc0414 Rep Roy asked about the other questions from the office hour meeting that hadn't been addressed yet in this session. Advisory board, there is a member they have been notified, email to member, posting to Town Clerk. Standard process for all 28 towns we represent
  • Some times before COVID we couldn't get a quorum for a board meeting, since COVID attendance has improved remarkably #tc0414 let me know of any issues, I will address them. We will figure that out to get rides to the senior center and advertise that.
Downtown zoning for parking
  • Next discussion item: downtown commercial zoning C1 parking #tc0414 there had been no parking requirements previously, a bit ago it was changed and may have gone too far. https://www.franklinma.gov/sites/g/files/vyhlif591/f/mai/files/8d._web_downtown.pdf
  • Restrictions on sidelines and parking will hurt developers, would like to see the old C1 come back to the downtown to help. Per Bissanti #tc0414 is there something can explain what zoning is? Zoning is complicated, one of the most important decisions this body deals with
  • It is ok to spend time on these issues. Parking is in the driver's seat. If you can't find one, you need it. If you find one, you don't need more. We haven't nailed it yet, it will require work. Parking will always be an issue anywhere. It has to be a balance. #tc0414
  • Parking is one area where the Planning Board can waive it down as opposed to other areas. There does need to be some parking downtown. Transit oriented development is good but there will still be need for parking #tc0414
  • Zoning also available on the website, perhaps the Clerk can provide a copy of the zoning book (with a map) #tc0414 there was no zoning parking requirement and it was changed 3 years ago. We did have meters downtown not too long ago.
  • There is limited parking downtown. We are the only commuter rail stop on the Franklin line that doesn't have housing associated with it. There is room to expand parking, we need to be the Council to do so. #tc0414 we don't have an affordable housing stock
  • The only thing we can do is manage it to the best if our ability. A developer will only put in the parking that is feasible to make it work. They won't rely on the gratitude of the planning board. #tc0414 we're trying to make sure there is business downtown
  • Request to consider revision to parking bylaw, and take to EDC before coming back to the Council. The downtown parking is available after hours. Attny Cerel is using the whole hand to raise his notice. If there is a 0 requirement, the Planning Board would not be able …
Subcommittee updates
  • Joint budget Subcommittee did meet on Monday, spoke about the Davis Thayer building, Supt not ready to declare surplus at this time will be done during the transition plan to Keller. Next meeting to be posted soon. #tc0414 EDC did meet before this meeting, discussed ...
  • The Community grant program, and NuStyle. Possibly meeting twice in May to begin housing plan #tc0414 
Legislation for action
Town Administrators Report through to closing
  • Side discussion on how we could do this service internally? Foxboro has firefighters who are certified to service the engine equipment. Drive through window closed two days for the window work and their floor soon to follow. Contact the Board of Health if question on vaccines
  • It is clear there is misinformation on stormwater fee out there. I offer to meet with you to discuss further $1.9m state grants only, four and half years $10m; that is a lot! Small amounts and large amounts add up #tc0414
  • #tc0414 Bissanti heard about opportunity zoning, a fictional example of carrying forward a capital gain (my assessment) Could the Police chief show something in the use of force training?
  • Story walk downtown Main Street, enjoyed work by Councilor Frongillo Senior coffee hour Thursday AM, rail trail race virtually this year. #tc0414 school vacation week next please be careful. Light needed at the crosswalk where Dean students cross
  • #tc0414 water conservation measures coming with level 2 drought announcement. Apologies for a late meeting, good discussion tonight. Motion to adjourn, second, passes 9-0 via roll call That's all for tonight (finally), catch you next time!

 

zoning map of downtown for parking discussion
zoning map of downtown for parking discussion

Sunday, April 11, 2021

Franklin, MA: Town Council - Agenda - April 14, 2021

 
1. ANNOUNCEMENTS FROM THE CHAIR
a. This meeting is being recorded by Franklin TV and shown on Comcast channel 11 and Verizon Channel 29.  This meeting may be recorded by others. 
b. Chair to identify Council Members participating remotely


2. CITIZEN COMMENTS
Citizens are welcome to express their views for up to five minutes on a matter that is not on the agenda. The Council will not engage in a dialogue or comment on a matter raised during Citizen Comments. The Town Council will give remarks appropriate consideration and may ask the Town Administrator to review the matter.


3. APPROVAL OF MINUTES
- None Scheduled

4. PROCLAMATIONS/RECOGNITIONS
Diane Daddario, MD

5. APPOINTMENTS
- None Scheduled

6. HEARINGS - 7:10pm
- None Scheduled

7. LICENSE TRANSACTIONS
Shaw’s Supermarkets, Inc. d/b/a Shaw’s, Change of Manager, 255 East Central Street, Franklin, MA 02038

8. PRESENTATIONS/DISCUSSIONS
a. Norfolk County Sheriff Patrick W. McDermott
b. Other Post-Employment Benefits (OPEB) Actuarial Update - Dan Sherman
c. GATRA - Mark Sousa, Executive Director
d. Downtown Commercial Zoning District & Commercial Zoning District 1 Parking requirements

9. SUBCOMMITTEE REPORTS
a. Capital Budget Subcommittee
b. Budget Subcommittee
c. Economic Development Subcommittee

10. LEGISLATION FOR ACTION
a. Resolution 21-22: Authorization for Intermunicipal Agreement with the Town of Foxborough for the Town of Foxborough to Provide Emergency Motor Vehicle Technician Services (Motion to Approve Resolution 21-22 - Majority Roll Call Vote)

11. TOWN ADMINISTRATOR'S REPORT
COVID-19

12. FUTURE AGENDA ITEMS

13. COUNCIL COMMENTS

14. EXECUTIVE SESSION
 - None Scheduled

ADJOURN

Note: 
Two-Thirds Vote: requires 6 votes
Majority Vote: requires majority of members present and voting

The meeting packet for the Council meeting

The one PDF with all released docs and connection info

Franklin, MA: Town Council - Agenda - April 14, 2021
Franklin, MA: Town Council - Agenda - April 14, 2021


Sunday, January 26, 2020

Fire Dept removed from Civil Service, OPEB funding reviewed, large solar installations to be denied

The Town Council meeting on Wednesday, Jan 22, 2020 was significant in three major topic arenas.

One: the Fire Dept which historically (at least during my time reporting) has had trouble reaching a contract settlement with the Town has settled a three year contract (2019 to 2022) and agreed to be exempt from civil service. This should enable the Fire Dept and the Town to move forward to meet the challenges of rising call volume and appropriate staffing by removing some of the complications of civil service. The measure, though approved, does need State House legislation action to get a 'home rule' approved to make this effective.

Two: while the OPEB (Other Post Employment Benefits) account is still underfunded, the Town has taken measures to move to the 'top quartile' of its peers in funding percentage. The light can be seen at the end of the tunnel when in about 2030, the Pension funding dollars can be shifted to the OPEB account to help begin to make up the deficit towards fully funding the OPEB liability. So while OPEB is still underfunded, it is not the big heavy weight that is hanging over Franklin (1) as long as the Town continues to increase its funding (as it has) and (2) shifts the Pension money when it can (approx. 2030).

Three: two more of the zoning bylaw changes to clean up the plot lines were referred to the Planning Board. Separately, a change to the solar bylaw to remove the large commercial installations from the bylaw as permitted was also referred to the Planning Board. The Planning Board will hold public hearings on these measures, make any adjustments (if necessary) and then return them to the Town Council. The Council will also hold two public readings before voting on the 'final' language.

Additional details on these items can be found in my notes reported live during the meeting. 

The Actions Taken document has not yet been published by the Town. A link to that will be added when it is. 

The video will be available for replay by Franklin TV.

  • Live reporting: Return from Exec Session to Closing
https://www.franklinmatters.org/2020/01/live-reporting-return-from-exec-session.html
  • Live reporting - to Executive Session
 https://www.franklinmatters.org/2020/01/live-reporting-to-executive-session.html
  • Live reporting: Legislation for action
 https://www.franklinmatters.org/2020/01/live-reporting-legislation-for-action_22.html
  • Live reporting: OPEB Update, etc.
https://www.franklinmatters.org/2020/01/live-reporting-opeb-update-etc.html
  • Live reporting: Town Council - Jan 22, 2020
https://www.franklinmatters.org/2020/01/live-reporting-town-council-jan-22-2020.html


Fire Dept removed from Civil Service, OPEB funding reviewed, large solar installations to be denied
Fire Dept removed from Civil Service, OPEB funding reviewed, large solar installations to be denied

Wednesday, January 22, 2020

Live reporting: OPEB Update, etc.

6. HEARINGS
- None Scheduled

7. LICENSE TRANSACTIONS
- None Scheduled

8. PRESENTATIONS/DISCUSSIONS
OPEB (Other Post Employment Benefits) Presentation

Dan Sherman

The released doc is shown in the link here, what he talked to doesn't seem to match
https://www.franklinma.gov/sites/franklinma/files/mai/files/8a._opeb_presentation.pdf

add 2-pager doc later
top quartile in terms of peers for funded ratio

additional funding of 3.1M would be required /per year, to make up the funding required.

where are we now, how do we get to 3-4M per year?

when a community gets to full funding on Pension to send that money to OPEB
Franklin estimated to get to that point at about 2030

calculating with the assumption that Franklin would continue funding OPEB as we do today, and then roll the Pension funding to OPEB

The Federal Reserve has been keeping inflation in check for any number of years. The CPI is holding about 2.9/3.0 percent

you're ahead of most of your peers, a member of the majority funding something

Town does have a policy per operating budget to increase the amount 50,000/ also approve 10% of free cash; should take a look at it again, 2030 is a ways away

Kelly - arrives at 7:26 PM


9. SUBCOMMITTEE REPORTS
a. Capital Budget Subcommittee
we had a meeting last week
coming to the Council Feb 5

b. Budget Subcommittee
nothing to report at this time

c. Economic Development Subcommittee
nothing at this time
next meeting Feb 5

Sunday, January 19, 2020

Franklin, MA: Town Council - Agenda - Jan 22, 2020

Agenda

1. ANNOUNCEMENTS
a. This meeting is being recorded by Franklin TV and shown on Comcast Channel 11 and Verizon Channel 29. This meeting may be recorded by others.

2. CITIZEN COMMENTS
a. Citizens are welcome to express their views for up to five minutes on a matter that is not on the agenda. The Council will not engage in a dialogue or comment on a matter raised during Citizen Comments. The Town Council will give remarks appropriate consideration and may ask the Town Administrator to review the matter.

3. APPROVAL OF MINUTES
a. December 18, 2019
b. January 8, 2020

4. PROCLAMATIONS/RECOGNITIONS
- None Scheduled

5. APPOINTMENTS
Franklin Cultural Council: Theodore D. Cormier-Leger

6. HEARINGS
- None Scheduled

7. LICENSE TRANSACTIONS
- None Scheduled

8. PRESENTATIONS/DISCUSSIONS
OPEB (Other Post Employment Benefits) Presentation

9. SUBCOMMITTEE REPORTS
a. Capital Budget Subcommittee
b. Budget Subcommittee
c. Economic Development Subcommittee

10. LEGISLATION FOR ACTION
10a. LEGISLATION FOR ACTION
Zoning By-Law Amendment 20-849: Changes to Ground-Mounted Solar Energy System Use Regulations, And Use Regulations Schedule Updates-Referral to the Planning Board (Motion to Refer Zoning Bylaw Amendment 20-849 to the Planning Board - Majority Vote)

10b. LEGISLATION FOR ACTION
Zoning By-law Amendment 20-850: Zoning Map Changes On Or Near Highland, Maple and Lincoln Streets- Referral to the Planning Board (Motion to Refer Zoning Bylaw Amendment 20-850 to the Planning Board - Majority Vote)

10c. LEGISLATION FOR ACTION
Zoning By-law Amendment 20-851: Zoning Map Changes On Or Near Oak Street and Dailey Drive- Referral to the Planning Board (Motion to Refer Zoning Bylaw Amendment 20-851 to the Planning Board - Majority Vote)

10d. LEGISLATION FOR ACTION
Resolution 20-08: 2020 - 2021 Town Council Goals (Motion to approve Resolution 20-08 - Majority Vote)

11. TOWN ADMINISTRATOR'S REPORT
12. FUTURE AGENDA ITEMS
13. COUNCIL COMMENTS
14. EXECUTIVE SESSION
Collective Bargaining

I request a motion that the Board vote to convene in Executive Session for the purpose of discussing strategy with respect to collective bargaining, because an open meeting may have a detrimental effect on the bargaining position of the Board.
15.RETURN TO OPEN SESSION FOLLOWING EXECUTIVE SESSION: LEGISLATION FOR ACTION, CONTINUED
15a. LEGISLATION FOR ACTION - Continued
Resolution 20-06: Request for Legislation- Exempting all Positions in the Fire Department from Civil Service Laws (Motion to Approve Resolution 20-06 - Majority Vote)

15b. LEGISLATION FOR ACTION - Continued
Bylaw Amendment 20-852: Chapter 82 Municipal Service Fees- 1st Reading (Motion to Move Bylaw Amendment 20-852 to a Second Reading - Majority Vote)

15c. LEGISLATION FOR ACTION - Continued
Resolution 20-07: Ratification of the Franklin Permanent Firefighter Association Local 2637 Contract (Motion to Approve Resolution 20-07 - Majority Vote)

ADJOURN

Note:
Two - Thirds Vote: requires 6 votes
Majority Vote: requires majority of members present and voting

This was shared from the Town of Franklin page
https://www.franklinma.gov/town-council/agenda/january-22-town-council-agenda

The full agenda can be found on the Town of Franklin page
https://www.franklinma.gov/town-council/agenda/january-22-town-council-agenda

The documents released for this meeting can be found in one PDF
https://www.franklinma.gov/sites/franklinma/files/agendas/2020-01-22_agenda_web.pdf

Franklin, MA: Town Council - Agenda - Jan 22, 2020
Franklin, MA: Town Council - Agenda - Jan 22, 2020


Wednesday, December 18, 2019

FM #188 - Finance Committee - Capital Plan for FY 2020 (audio)

FM #188

This internet radio show or podcast is number 188 in the series for Franklin Matters.

This recording shares Finance Committee meeting held on Tuesday, Dec 17, 2019 at the Senior Center beginning at 6:30 PM.

This is the second of two sessions to review the Capital Plan for FY 2020. This session covers the DPW and the enterprise Water and Sewer accounts.

The documents for the meetings are available on the Town of Franklin page as well as Franklin Matters. The links are contained here so you can follow along.

Agenda doc - 12/17/19
https://www.franklinma.gov/sites/franklinma/files/news/fincom_agenda_12-17-19.pdf

The Finance Committee approved the three recommendations that the Town Council will take up at a January/February 2020 meeting
  • 20-01 Recommends Capital FY 2020 of $1,640,579 (as detailed on page 20 of the agenda document)
  • 20-02 Recommends transfer of $348,000 for the OPEB Trust Fund (page 22)
  • 20-03 Recommends transfer of $570,000 from Free Cash to the appropriate stabilization accounts (as detailed on page 24 of the agenda document)

The meeting runs about 50 minutes so without further ado here is the Finance Committee meeting of Dec 17.

https://www.hipcast.com/podcast/HN2yBvXX



--------------

Audio File - 12/10/19 meeting
https://www.franklinmatters.org/2019/12/fm-186-finance-committee-capital-budget.html

FY 2020 Capital Budget document
https://www.franklinma.gov/town-budget/files/fy20-capital-budget

FinCom Agenda doc
https://www.franklinma.gov/sites/franklinma/files/agendas/2019-12-10_finance_committee_agenda_fy20_capital_plan_1.pdf

This podcast is my public service effort for Franklin but I can't do it alone. I can always use your help.

How can you help?

Overall:
  • If you can use the information that you find here, please tell your friends and neighbors.
  • If you don't like this, please let me know.

Through this feedback loop we can continue to make improvements.
Thank you for listening.

For additional information, please visit Franklinmatters.org/
If you have questions or comments you can reach me directly at shersteve @ gmail dot com

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!

------------------

You can also subscribe and listen to Franklin Matters audio on iTunes or your favorite podcast app; search in "podcasts" for "Franklin Matters"


sidewalks have been part of the plan but not this year
sidewalks have been part of the plan but not this year

 

Wednesday, January 9, 2019

Live Reporting: Presentations - Goals, OPEB


7. LICENSE TRANSACTIONS
None
8. PRESENTATIONS/DISCUSSIONS
8a. PRESENTATIONS/DISCUSSIONS
2018-2019 Goals Update
8b. PRESENTATIONS/DISCUSSIONS
OPEB Actuarial Presentation - Daniel Sherman





9. SUBCOMMITTEE REPORTS
a. Capital Budget Subcommittee 
b. Budget Subcommittee 
c. Economic Development Subcommittee

OPEB - Other Post Employment Benefits
we have an account accumulating fund to meet the liability

how much is this going to cost us?

page 3 of the 2017 document

full pre-funding 7.5%
3.3M in assets
73.5M liabilities
70M net owed

at 114% of payroll, ahead of game as other communities are about 140%
normal cost = 2.4M
the normal payment for cost of coverage each year
3.6M amortized would pay off the 70M

3.7M is the additional funds that needs to be found, actually did fund 800K

single page doc, last page of doc (p20)

key assumptions drive the forecast over the 30 year period
employee count remains the same, health increase of 4.5%, etc.
if those assumptions changed, then the forecast would be high or low

as the Norfolk pension gets funded (for Franklin in 2031), then those pension payments could be diverted to fund the OPEB and we would be funded sooner

bottom of page 5 other report (page 26 of 41 on the PDF above)

back to the goals section at 7:45 PM

the Town Council goals document.

items in red are brief updates as to where they are
Jan 10, 2018 these were put together

what else should be added to this listing?
Are those items that remain still valid?

20-25M for renovation or expansion of the Police Station would require a debt exclusion sometime; still needs to get more formal work done, study funding in the capital budget request process coming up soon

DelCarte - capital subcommmittee met earlier, looking for 20K for invasive weed project; the invasive fish project is further out, would be additional cost

municipal aggregation goes to bid periodically, we need to get something of a penny or more to make the move, not getting the right bids to move yet

request for expressions of interest for Red Brick School
coming out soon, goal to get some interest by the end of March
looking for some substantial proposals for educational uses

NuStyle under P&S, owner working through the development process, Conservation, etc.
has a year to get the permits, etc. wants to remove the existing building and build a new showroom with parking spaces

Would it be worthwhile putting out an RFI for the Washington St meeting house (former museum); does have problems with zoning for re-use; might be good to do an RFI to see if something comes back
put it on a future agenda for a discussion, solicit the neighbors to weigh in
would it be far fetched to obtain the building next door, move the meeting house next door
to allow for the museum to use in a 'complex'


a. Capital Budget Subcommittee 
met this evening, more coming

b. Budget Subcommittee 
meeting Feb 13

c. Economic Development Subcommittee
Kelly not here, no meeting scheduled

Tuesday, January 16, 2018

"my tagline at the time was: 'this is math, not politics'.”

In the Franklin Matters series of posts about local government, the Freakonomics Podcast has a great interview with Rhode Island Governor Gina Raimondo that is shareworthy:

"Our latest Freakonomics Radio episode is called “How to Be a Modern Democrat — and Win.” (You can subscribe to the podcast at Apple Podcasts or elsewhere, get the RSS feed, or listen via the media player above.) 
Gina Raimondo, the governor of tiny Rhode Island, has taken on unions, boosted big business, and made friends with Republicans. She is also one of just 15 Democratic governors in the country. Would there be more of them if there were more like her?"



subscribe to Freakonomics Radio
subscribe to Freakonomics Radio

The Freakonomics Podcast page also has a transcript of the interview and other supporting info  http://freakonomics.com/podcast/modern-democrat-win/

Editorial Note:

Central Falls, RI made news when it went bankrupt largely due to unfunded pension liabilities. Franklin also has significant pension liabilities (OPEB). We are taking steps to fund these but we also have other funding requirements for roads and schools to name just two that are top of mind. 

What can we do now to help prepare for 2028 when Franklin will be (hopefully) celebrating its 250 anniversary? I think we can start by talking to one another. To borrow the line from Gina, "this is math, not politics."

What should our priorities be? What can we do to fund them?

Events to find out info and join the conversation:


  • Jan 27 - Franklin Town Government 101
http://www.franklinmatters.org/2018/01/franklin-town-government-101-january-27.html


  • Feb 13 - Legislative Forum on School Funding
http://www.franklinmatters.org/2018/01/franklin-school-committee-legislative.html


#Franklin2028


Friday, March 24, 2017

In the News: Liquor manufacture tasting rooms; OPEB liabilities a concern

From the Milford Daily News, articles of interest for Franklin:

"Is craft beer the secret ingredient to revitalization? Some area towns would make that argument and now Franklin may want in on the action. 
The Town Council will be considering a zoning change that would allow microbreweries or wineries with tasting rooms in vacant spaces in non-residential areas of town. 
The move was discussed at an Economic Development Committee meeting this week, with Deputy Town Administrator Jamie Hellen noting that craft beer had been going through a renaissance of late. 
"We've done quite a bit of research," he said. "We did take the bulk of this (proposal) from the city of Salem, and we know there's a very successful facility up in Hudson."

Continue reading the article online (subscription may be required)
http://www.milforddailynews.com/news/20170323/franklin-may-look-to-microbreweries-for-business


"Though the town received a clean bill of fiscal health this week, local officials said they were concerned about looming retirement liabilities. 
The Town Council Wednesday heard the results of an audit by Andover firm Melanson Heath. Despite an overall positive report, auditors noted that the town's Other Post-Employment Benefits (OPEB) liability - covering non-pension retirement benefits for employees - was listed at $48 million and will be increasing to about $93 million in 2018 because of a change in reporting standards. 
Melanson's Frank Biron noted that the town had opted to contribute $600,000 this year to fund that liability. 
"That's very good; unfortunately, it's a very large liability, too," he said. "You're not alone in that - other Massachusetts municipalities are in the same boat."


Continue reading the article online (subscription may be required)
http://www.milforddailynews.com/news/20170323/future-liabilities-concern-franklin-officials

Thursday, July 7, 2016

In the News: catching up to recent links of interest

From the Milford Daily News, articles of interest for Franklin:


  • A man died Sunday after being hit by a car while walking across Route 495 South, state police said.

http://www.milforddailynews.com/news/20160703/franklin-man-dies-in-highway-pedestrian-crash


  • Beginning next spring, Massachusetts students will take a revamped version of the state’s standardized exams, which are being designed to be given online.

http://www.milforddailynews.com/news/20160704/schools-readying-for-new-mcas


  • The school district has hired a new food service director as it works to create an in-house food program for the 2016-2017 school year.

http://www.milforddailynews.com/news/20160704/franklin-schools-hire-food-service-director-to-bring-meals-in-house


  • A man was taken to the hospital via LifeFlight helicopter Sunday afternoon after falling out of a tree.

http://www.milforddailynews.com/news/20160705/franklin-man-flown-to-hospital-after-falling-from-tree


  • The town devoted an additional $200,000 to fund post-employment benefits for its employees as it continues to set aside money for the expense.

http://www.milforddailynews.com/news/20160705/franklin-increases-fy16-contribution-for-opeb


Wednesday, December 30, 2015

Annual Report - 2015: OPEB Trust Committee


The Town Council approved an OPEB* Trust Committee in Fiscal year 15 to manage the funds set aside for the Town’s OPEB unfunded obligation of approximately $90,000,000.

This obligation is for current and future health care cost for town and school retirees. Communities across the Commonwealth face similar problems funding this obligation. While the town is doing its best to fund this obligation it will not be achieved unless state laws are changed to ease our future obligation.

The Trust Committee met on several occasions and decided to invest with the Commonwealth’s PRIT fund to get the higher rate of return on our investment that allowed by law if the town was managing the funds. Our initial allocation into the account will be over $1,800,000.

We will continue to make requests of the Town Council to continue to fund the Trust to help meet our obligation.

Regards,

  • Jeff Nutting
  • Susan Gagner
  • Miriam Goodman
  • Peter Lounsbury
  • Greg McNeille
  • Treasurer, James Dacey



The full recent auditor's report on the OPEB obligation can be found here

Franklin's Town Common on a summer day
Franklin's Town Common on a summer day

-----------

"Prior to November 1 of each year, the Town Clerk shall cause to be prepared and made available to the inhabitants of the Town an annual report for the preceding fiscal year which shall include: the annual Town budget, the reports of all Town officers, the records of all Town Council bylaw amendments and resolutions, an abstract of births, marriages and deaths, and the wages, salaries, or other compensation of all Town employees." [Added 5-2-2012 by Bylaw Amendment 12-681]

Shared from the full and complete PDF version of the Town of Franklin Annual Report for 2015



Related posts on OPEB


  • Live reporting on the Town Council meeting in Nov 2015 when the Auditor came to present

  • What is Franklin doing?

  • Needham is touted as a 'best practice' on OPEB


Other Post-Employment Benefits (OPEB)