Town of Franklin (MA): Five Year Fiscal Forecast - FY 2026 & beyond (part 5 of 5)

This continues to share the Five Year Fiscal Outlook for the Town of Franklin as published by the Town Administrator, Jamie Hellen:

FY26 and Beyond Financial Outlook

After reading the first eight pages of this document and with the adversity and challenges we are experiencing in our own personal lives, I can relate to most readers who feel as if FY26 is an eon away! Yet, our professional perspective is to always keep a keen eye into the future. But what we do know is:

● As long as property revenues continue to increase, the town should see steady growth in order to work within the Proposition 2 ½ constraints. Without any adjustments to the tax levy, it is critical for the community to understand real estate values are the key sustainability factor to local expenses in the budget. The Town cannot count on a state aid bailout and should not count any additional federal assistance.

● FY26 will see collective bargaining return for most school and municipal unions.

● One-time federal assistance in the form of ARPA and ESSER funds will be exhausted.

● The status of the Beaver Street Interceptor project and other capital projects will still be in development.

After the busy “end of fiscal year/start of the fiscal year” this summer, I will prepare a full five year revenue forecast before the FY23 tax rate hearing on November 30th, 2022.

How can I learn more?

● All municipal budget matters will always be posted on our town budget archive

● The School Department budget page is here.

● Finance committee meetings can be found on their website.

 

● Town Council meeting agendas, Town Blog News, Legal Notices, Job Postings and more on the Town’s email notifications page.

● The School Committee connections are here.

As a savings to each homeowner, call your homeowners insurance company to get a savings on the Fire Department’s ISO-1 designation. Many property owners will see a reduction in their homeowners insurance. Just print out the linked paperwork and submit it to your insurer.

What can I do to help TODAY?

Let’s end the forecast on a fun note; and maybe some homework!

People always ask me what we can do today to support the Town today? Answer: Eat Local!

Like many towns, Franklin has a .75 percent of every one cent out local option tax on meals purchased in Franklin. It’s the one area of our “local receipts” revenue source that is driven by consumer choice. Since the pandemic, the town has been fortunate to see most of its restaurants continue in business today. We have also seen an influx of new places to eat out and more will be opening in 2022 & 2023. It’s an excellent opportunity to eat local, support our large profile of locally owned restaurants and also support the town budget.

So have fun eating out in Franklin with your family and friends and ultimately support the town’s schools, public safety, DPW, roads and other excellent town services!

Continue reading the full report in this PDF ->     https://www.franklinma.gov/sites/g/files/vyhlif6896/f/uploads/2022-08-15_fy23_to_fy27_town_administartor_fiscal_forecast_1.pdf

Note: Pages 1-11 covers the fiscal forecast and outlook. Pages 12-18 is the Standard & Poors AAA rating letter. Pages 19-20 is the ISO 1 award letter on the Fire Department achievement.

Part 1 (FY 2022 closing)

https://www.franklinmatters.org/2022/08/town-of-franklin-ma-five-year-fiscal.html

Part 2 (FY 2023)

https://www.franklinmatters.org/2022/08/town-of-franklin-ma-five-year-fiscal_02041658049.html

Part 3 (FY 2024)

https://www.franklinmatters.org/2022/08/town-of-franklin-ma-five-year-fiscal_0565521952.html

Part 4 (FY 2025)

https://www.franklinmatters.org/2022/08/town-of-franklin-ma-five-year-fiscal_0694306595.html

Town of Franklin Earns AAA Bond Rating

Town of Franklin (MA): Five Year Fiscal Forecast - FY 2024 (part 3 of 5)

This continues to share the Five Year Fiscal Outlook for the Town of Franklin as published by the Town Administrator, Jamie Hellen:

FY24 Financial Outlook

FY24 will be the fiscal year to monitor the new impacts of inflation and/or a recession on the quantity of town services that can be delivered. FY24 will also be the year to monitor the overall condition of the economy, consumer spending and trends on residential households and their ability to withstand the cost increases that we know will be going into effect: stormwater and the Beaver Street Interceptor. A year from now, all town officials should keep a close eye on the ability of residents to afford the increases that are coming from these mandatory projects. These projects could have an effect on other town services.

 

As written above, rising costs will likely set up a sustainability imbalance with what the purchasing power was in FY22 versus FY24. The Town will begin its FY24 budget process later this fall where we will look at our local summer and fall revenue trends, as well as take a cautiously optimistic gaze toward how the global economy modifies over the next six months. Keep your fingers crossed!

I would expect a Joint Budget Subcommittee meeting sometime in October to check in on FY23 revenues and early prospects for FY24.

Areas of expected operational increases due to inflation include: roads, snow and ice removal, construction supplies, all basic goods and services, and personnel and labor costs. The DPW and Facilities Departments will see the greatest impacts from rising inflation on expenses.

Most departments will feel this increase as both of their departments supply basic services such as fuel, gas, electricity, water to other departments. All departments will see an increase in personnel costs due to the competitive labor market and the successful performance of our current staff.

The stormwater utility fee goes into effect townwide for all property owners on July 1, 2023. The average fee per household on a half-acre lot will be about $56. As a result, stormwater expenditures from the DPW will be transferred to the utility. A significant reduction in the DPW budget will show in FY24. This dynamic will be deceiving given the cost increases coming from goods, services, and labor/personnel throughout the entire organization, but most notably the DPW. Also, additional funds will be needed for roads and infrastructure due to rising costs. Most of the reduction of stormwater will likely give way to overall cost increases from inflation.

Lastly, FY24 is when the effects of interest rates will possibly alter town services. As I have pointed out in every budget narrative in recent years, the ratio of debt and interest as a percentage of the town budget has been slowly shrinking as old debt and interest are paid off. Of all seven major budget categories, Debt & Interest was the only category to decrease in the FY23 budget. As a result, other services are taking up a larger percentage of the budget pie, leaving less room for capital projects that require borrowing. With rising interest rates and rising project costs, future capital projects may be in jeopardy if they require borrowing. For more information, please read the Budget Narratives on Debt & Interest from previous fiscal years.

FY23 debt levels are currently at about 2.5% of recurring general fund revenues. These line items support both school and municipal projects.

The town will have some difficult decisions to possibly postpone projects. These projects will undoubtedly become much more complicated, expensive and difficult to fund based on rising interest rates and costs. The following projects will require some borrowing authority, which will increase interest in the operating budget or enterprise funds:

 

● Beaver Street Interceptor;

● The future of Davis-Thayer;

● A future decision on a new or renovated police station;

● A future decision on the Remington-Jefferson School renovation; and

● A future decision on a new recycling center.

Those are just the large projects that have been in the pipeline for years. This list is obviously not exhaustive and this is even before we tackle the issues of infrastructure, roads, sidewalks, parks, open space plans, staffing investments, among many other things the community has on its wishlist.

The Town recently received a 3.38% interest rate with the AAA bond rating. I suspect those rates will climb closer to five percent (at best) in FY23 and FY24.

In short, FY24 will likely begin a harsh reality in the community. There will likely be choices to postpone capital projects or move forward with those projects and operating services may need to be adjusted to reflect the costs of services. Unless the economy can hit a rhythmic state, some difficult financial decisions will have to be made.

Continue reading the full report in this PDF ->     https://www.franklinma.gov/sites/g/files/vyhlif6896/f/uploads/2022-08-15_fy23_to_fy27_town_administartor_fiscal_forecast_1.pdf

Part 1 (FY 2022 closing) was shared previously

https://www.franklinmatters.org/2022/08/town-of-franklin-ma-five-year-fiscal.html

Part 2 (FY 2023) was shared previously

https://www.franklinmatters.org/2022/08/town-of-franklin-ma-five-year-fiscal_02041658049.html

Town of Franklin Earns AAA Bond Rating

Town of Franklin (MA): Five Year Fiscal Forecast (FY 2023-2027) Now Available

The Office of the Town Administrator has released the Five Year Fiscal Forecast for FY23-27. This memorandum provides a synopsis of the financial outlook for each year as well as a "snapshot" of the town today. 

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

August 15, 2022

To: Town of Franklin

From: Jamie Hellen, Town Administrator

Re: Town Administrator Five-Year Fiscal Forecast FY23-FY27

Welcome to the first “Five-Year Fiscal Forecast” from my office in almost three years. Due to the immense time pressures put on the office during the pandemic in 2020 and 2021, as well as the consistent economic shifts, it was difficult to depict an accurate picture of future town fiscal affairs. As mentioned in this year's budget narrative, I’m committed to getting back on a regular routine with this traditional update now that the country is moving past the regulatory structure of the COVID-19 pandemic. With the global and national economy in the center of everyone’s minds and the start of the new fiscal year (FY23) upon us, summer is a perfect time to hit a quick reset on town fiscal matters and get the view from 30,000 feet. I am hopeful to publish a more comprehensive version later this fall/winter as the Town approaches its annual tax rate hearing in December. By then, staff will have revenue trends through the first quarter of the fiscal year, finalized state aid numbers, and expected new growth figures. The forecast is also a requirement of bond rating agencies.

Quality of life and organization stability in Franklin

Before I dive into the forecast details, I believe it is worth taking a step back for a moment to pause and reflect. Over the past few years, our community, like the rest of the world, has gone through a tremendous disruption. Everyone has dealt with unforeseen adversity, challenge, and loss. Yet despite these professionally and personally challenging times for everyone, the overall quality of life in Franklin, as well as Massachusetts as a whole, could be considered some of the best in the United States.

The Town has exceptional, diverse schools and education opportunities, unprecedented achievement in public education, one of the most prepared local public safety operations in the state, a dedicated and well-trained public works department and countless exceptional

amenities for families and citizens of all ages and backgrounds. The Town is an attractive area for major corporate businesses and has a strong local economy with many diverse economic sectors. The Town continues to make historic investments in open space and recreation to add to the great quality of life in town.

The Town has developed a proven financial management strategy. We have had strong financial audits for many consecutive years. For the first time in the Town’s history, a AAA Bond rating was awarded due to prudent financial management, a diverse economy and well executed financial policies. For details, please visit the S&P Global Rating from May 2022 for the facts surrounding the AAA Bond rating. It is one of the most important documents to read for any member of the community.

From a bird’s eye view, everyone should feel an incredible sense of achievement for being a model community that is supportive, innovative and full of continued promise. We owe an immense amount of gratitude to our municipal and school employees for their incredible dedication over the last three years, by not only weathering a global pandemic, but improving the organization and continuing to succeed at an elite level. The social fabric of the community and citizens remains very good with a positive outlook given the countless events, festivals, community organizations and opportunities for all. As we move into a fiscal year without any COVID-19 restrictions or regulations for the first time in three years, I believe Franklin is more resilient and prepared for the future than we were three years ago. The organization remains very stable.

FY22 Closeout

Fiscal Year 2022 (FY22) closed out on June 30th. July is one of the busiest times for the Finance staff closing out the past fiscal year, entering the new one, working on state required reporting and closing out budgets. I am pleased to report that all departments did a phenomenal job managing their budgets in FY22. As a result, very few year end transfers were required and another sterling financial audit was presented in May for FY21.

The revenue source with the greatest fluctuation to economic conditions, “Local Receipts”, ended up coming in at pre-pandemic levels, which is very good news. This dynamic was predicted and reflected in the FY23 budget revenue assumptions.

This trend is bolstered by a slowly returning local economy. Hotel revenues are now about 60% back to pre-pandemic numbers. The new cannabis excise (sales) tax provided an additional $104,000 in new revenue for less than a half a year of collections. Motor vehicle excise taxes were higher than budgeted due to the valuation of cars increasing. Ambulance receipts have increased due to higher demand for EMS services. As the Town enters FY23, revenues remain steady in this category, but FY24 may need some expenditure adjustments in order to deliver the services that we see trending in demand.

That said, Local Receipts are revenues mostly generated based on consumer behavior (hotels, meals, cannabis, licenses) and public demand (such as ambulance runs or building permits). Thus, they can stabilize or decrease with the changes in consumer patterns and the broader economy. They can also increase, which the Town must consider that staffing or equipment may be needed to adjust to meet those demands. The fees in this category need to mirror the capacity at the staff level to deliver the services.

Indications from the Federal Reserve and leading local economists acknowledge that to quell inflation, policy will be focused on reducing demand for goods, services and products to help ease cost increases. I tend to believe any policy action at the federal or state levels will take a while to settle into the local consumer patterns that drive revenues in local receipts.

Nonetheless, this is an area of revenue that the Town will need to monitor in FY23 heading into FY24 to ensure we have the capacities to meet the demand for services. We'll also need to monitor any major declines in revenues from attempts to quell inflation.

A couple of final statistics to close out FY22: only ten (10) single family homes were built in Franklin during Fiscal Year 2022. By comparison, in 1994, at the Town’s peak, the Town built 172 single family homes. Population in 2021 decreased for the 1st time in over four decades.

Population in 2021 decreased for the 1st time in over four decades

Continue reading the full report in this PDF ->   https://www.franklinma.gov/sites/g/files/vyhlif6896/f/uploads/2022-08-15_fy23_to_fy27_town_administartor_fiscal_forecast_1.pdf

Town of Franklin Earns AAA Bond Rating

Expand Your Social Security Knowledge With These Four Terms

"We strive to explain your benefits using easy-to-understand, plain language. The Plain Writing Act of 2010 requires federal agencies to communicate information clearly in a way “the public can understand and use.” This can be particularly challenging when talking about complicated programs like Social Security, Supplemental Security Income, and Medicare.

Take a moment to learn a few common Social Security terms and acronyms! 

COLA, credits, earnings record, FICA

Continue reading the article -> https://blog.ssa.gov/expand-your-social-security-knowledge-with-these-four-terms/

Expand Your Social Security Knowledge With These Four Terms

Remember May 2022: Town of Franklin Earns AAA Bond Rating

Amid pandemic restabilization, Town achieves major peak 

For the first time in the town’s history, Franklin was awarded a AAA (Triple-A) bond rating by Standard and Poor’s Global Ratings. Progressing from the Town’s previous AA+, the new rating is indicative of exceptionally high creditworthiness in the eyes of municipal bond issuers.

“Achieving a AAA Bond Rating is the ultimate team accomplishment in local government” said Town Administrator, Jamie Hellen. “The rating reflects the unity and collaboration of everyone involved, past and present, including the Town Council, Finance Committee, boards and committees, department heads, staff, and the residents of the community. It’s like winning the Super Bowl. Everyone had to do their job to get this victory.”

Despite economic and social uncertainty posed by the pandemic, Franklin’s stable financial portfolio, performance and management has positioned the town’s reserves to its highest levels ever. The behavior and actions of the Town have resulted in the community being in the strongest position to continue to perform should fiscal stressors arise.

A ratings report published by S&P Global Ratings outlines the following as the primary contributing factors in achieving Franklin’s AAA rating:

●  Four consecutive operating surpluses, increasing reserves to its strongest levels ever with management projecting ongoing maintenance at these levels, as Franklin continues to work through their capital improvement plan

●  Prudent budgetary modifications amid the pandemic supported by great financial policies to position the town well as fiscal year 2023 approaches

●  Franklin’s employment and tax base saw little deterioration amid the pandemic which indicated a resilient and affluent local economy

●  Ongoing economic development projects and a strong real estate environment resulting in substantial tax base growth which keeps tax rates low and affordable

●  Maintenance of a favorable debt profile

●  Manageable pension and other postemployment benefits (OPEB) costs

“The Town Council, Finance Committee and all of our town staff have established strong financial policies and have remained committed to them,” said Hellen. “The support from the Town’s elected officials is without question a signature factor in the bond rating for their continued support of the staff’s professional expertise. But, the foundation for this achievement is having a great finance team that helps to see beyond the data, providing intelligent information for strategic short and long-term decision-making. I can’t say enough about the work of Finance Director Sandini, Treasurer-Collector Bertone and all of the employees who work in the finance offices. We’ve been zoned in on this goal for years and I am very happy for the entire team to achieve it.”

“The pandemic has only made the Town of Franklin more resilient and productive than ever before,” Hellen said. “With a AAA bond rating, ISO-1 Fire Department, a soon to be fully accredited Police Department and reducing liabilities, such as OPEB and Stormwater, with modest, common sense, slow-but-steady policies, the Town is as prepared as we have been to meet future challenges.”

This press release on the Town of Franklin’s AAA Bond rating was shared from here:  https://www.franklinma.gov/comptroller/pages/aaa-bond-rating

The Standard & Poor's rating letter can be found online: 

https://www.franklinma.gov/sites/g/files/vyhlif6896/f/uploads/ratingsdirect_summaryfranklinmassachusettsgeneralobligation_51616013_may-13-2022.pdf

Town of Franklin Earns AAA Bond Rating

Originally posted here May 18, 2022
https://www.franklinmatters.org/2022/05/town-of-franklin-earns-aaa-bond-rating.html

Town of Franklin Earns AAA Bond Rating

Amid pandemic restabilization, Town achieves major peak 

For the first time in the town’s history, Franklin was awarded a AAA (Triple-A) bond rating by Standard and Poor’s Global Ratings. Progressing from the Town’s previous AA+, the new rating is indicative of exceptionally high creditworthiness in the eyes of municipal bond issuers.

“Achieving a AAA Bond Rating is the ultimate team accomplishment in local government” said Town Administrator, Jamie Hellen. “The rating reflects the unity and collaboration of everyone involved, past and present, including the Town Council, Finance Committee, boards and committees, department heads, staff, and the residents of the community. It’s like winning the Super Bowl. Everyone had to do their job to get this victory.”

Despite economic and social uncertainty posed by the pandemic, Franklin’s stable financial portfolio, performance and management has positioned the town’s reserves to its highest levels ever. The behavior and actions of the Town have resulted in the community being in the strongest position to continue to perform should fiscal stressors arise.

A ratings report published by S&P Global Ratings outlines the following as the primary contributing factors in achieving Franklin’s AAA rating:

●  Four consecutive operating surpluses, increasing reserves to its strongest levels ever with management projecting ongoing maintenance at these levels, as Franklin continues to work through their capital improvement plan

●  Prudent budgetary modifications amid the pandemic supported by great financial policies to position the town well as fiscal year 2023 approaches

●  Franklin’s employment and tax base saw little deterioration amid the pandemic which indicated a resilient and affluent local economy

●  Ongoing economic development projects and a strong real estate environment resulting in substantial tax base growth which keeps tax rates low and affordable

●  Maintenance of a favorable debt profile

●  Manageable pension and other postemployment benefits (OPEB) costs

“The Town Council, Finance Committee and all of our town staff have established strong financial policies and have remained committed to them,” said Hellen. “The support from the Town’s elected officials is without question a signature factor in the bond rating for their continued support of the staff’s professional expertise. But, the foundation for this achievement is having a great finance team that helps to see beyond the data, providing intelligent information for strategic short and long-term decision-making. I can’t say enough about the work of Finance Director Sandini, Treasurer-Collector Bertone and all of the employees who work in the finance offices. We’ve been zoned in on this goal for years and I am very happy for the entire team to achieve it.”

“The pandemic has only made the Town of Franklin more resilient and productive than ever before,” Hellen said. “With a AAA bond rating, ISO-1 Fire Department, a soon to be fully accredited Police Department and reducing liabilities, such as OPEB and Stormwater, with modest, common sense, slow-but-steady policies, the Town is as prepared as we have been to meet future challenges.”

This press release on the Town of Franklin’s AAA Bond rating was shared from here:  https://www.franklinma.gov/comptroller/pages/aaa-bond-rating

The Standard & Poor's rating letter can be found online: 

https://www.franklinma.gov/sites/g/files/vyhlif6896/f/uploads/ratingsdirect_summaryfranklinmassachusettsgeneralobligation_51616013_may-13-2022.pdf

Town of Franklin Earns AAA Bond Rating

The journey rather than the destination is a hiking theme through much of this Talk Franklin episode (audio)

FM #798 = This is the Franklin Matters radio show, number 798 in the series. 

This session of the radio show shares my "Talk Franklin" conversation with Town Administrator Jamie Hellen. We had our conversation via the Zoom Conference Bridge.

Conversation around the following topics with a common thread of peaks and valleys, journey more important than the destination:

Welcome back

Friday 13th

 

So much good happening

• Fire dept ISO Class 1

• Clean audit report

• AAA bond rating

• DPW water conservation award

 

Where do you go from here?  The challenge is greater to maintain this

 

Budget through Finance Committee

Next up Town Council (May 25, May 26)

 

MAPC forum and recommendations

The recording runs about 38 minutes, so let’s listen to my conversation with Jamie as we “Talk Franklin”.

Audio file -> https://franklin-ma-matters.captivate.fm/episode/fm-798-talk-franklin-05-13-22

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

Town of Franklin meeting calendar -> https://www.franklinma.gov/calendar 

Town budget page -> https://www.franklinma.gov/town-budget

Franklin For All -> https://www.mapc.org/resource-library/franklin-for-all/ 

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

We are now producing this in collaboration with Franklin.TV and Franklin Public Radio (wfpr.fm) or 102.9 on the Franklin area radio dial.  

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

How can you help?

• If you can use the information that you find here, please tell your friends and neighbors

• If you don't like something here, please let me know

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

For additional information, please visit Franklinmatters.org/ or www.franklin.news/

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 your favorite podcast app; search in "podcasts" for "Franklin Matters"

The journey rather than the destination is a hiking theme through much of this Talk Franklin episode (audio)

Town of Franklin gains AAA bond rating

"The Town of Franklin was awarded a AAA (Triple-A) Bond Rating today for the first time in the Town's history. AAA is the highest possible rating by the major credit rating agencies and depicts financial management and creditworthiness is at the most exceptional levels."

Shared from Twitter -> https://twitter.com/TOFranklinMA/status/1524509099181887489 

Listen to my conversation with Town of Franklin Finance Director/Comptroller Chris Sandini and Treasurer/Collector Kerri Bertone. We had this conversation in the Franklin studio on Thursday, April 14, 2022. One of the topics we discuss is the AAA bond rating. https://franklin-ma-matters.captivate.fm/episode/fm-780-town-of-franklin-budget-cycle-finance-terms-04-14-22

Town of Franklin gains AAA bond rating

Finance Committee hears update from Human Resources, and ARPA funds

Quick Recap:

• Senior tax abatement (work off) program update coming to Town Council session (Oct 20, 2021). Veterans update also scheduled for an increase.
• Human Resources Director Karen Bratt provided an update on the hiring, background checks, negotiations, etc. that her office participates in. Approx. one third of Town employees have been replaced since 2018 as the generational turnover take place. 
• The audio of this segment of the meeting will become a "must" listen as there are so many details on the cost drivers for the Town and School budgets. There is a separate School HR function but there is coordination between the two on health plans and negotiations.
• Town Administrator Jamie Hellen provided and update on the current ARPA or COVID related Federal funding to date with an outlook on what is expected. These funds are limited in use and are spread over several years. Some of the reimbursements from FEMA (in particular) can really take time to be received.

----

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  #fincom1013
https://twitter.com/search?q=%23fincom1013&src=typed_query 
 
Agenda document -  https://franklinma.gov/sites/g/files/vyhlif6896/f/agendas/10-13-21_finance_committee_agenda.pdf

 

• Getting ready to live tweet the Finance Committee meeting beginning at 6:30 PM today. Agenda and remote connection info here https://franklinma.gov/sites/g/files/vyhlif6896/f/agendas/10-13-21_finance_committee_agenda.pdf  #fincom1013
• Meeting host will let you in soon. #fincom1013
• It is nice to be in the room where a meeting happens, it is very convenient to be in the Zoom where it happens #fincom1013
• 6 yes, no notices, on motion to approve Dowd as chair, Conley as Vice chair, and Nicole as clerk via roll call some absent #fincom1013 Abatement programs to be expanded for Town Council, wage to minimum, and total increase of amount veterans/disabled amounts ...
• Details on the program expansions contained on the agenda doc shared earlier and again here https://franklinma.gov/sites/g/files/vyhlif6896/f/agendas/10-13-21_finance_committee_agenda.pdf #fincom1013
• Jamie explains the details behind the proposal, limited by statue at minimum wage and $1500/year, hence amount is within the statue. #fincom1013 limit on number of people to participate in work off (100), veteran status is required.
• Motion to recommend motions first on senior citizen piece then on veterans piece, both pass via 6-0 via roll call votes #fincom1013
• Presentation by Karen Bratt on Human Resources for Town, screen grabs shared here (didn't find doc) #fincom1013
• So many photos/pages will create album to share. Presentation done, now in the Q&A segment, good background info on GIC plan option for town but not used #fincom1013 some collaborative strategies are more work than worth it long term.
• Interesting discussion on turnover and reasons for, some due to demographics (aging work population) #fincom1013 not many if any leaving for another town, one that did had recently come back. Less interest in filling OT hours and shifts than prior, work life balance
• "can't believe you are still using paper employee files" we will see it later, working to get a grant to help fund it. #fincom1013 Harvard Pilgrim did a 'rebate' but it wasn't much and took time to process. Talk of issues hiring, in some spots like those with CDL license
• Did get confirmation that the pres doc will be posted to the HR page #fincom1013 policy procedures manual online as well as collective bargaining agreements https://www.franklinma.gov/sites/g/files/vyhlif6896/f/uploads/fincomm-presentation-october142021.pdf
• Next up an update from Jamie on ARPA funds overview (preview of what Town Council will see next week) Alicia has been the master tracking these details, coordination of reporting, etc. Kudos to her for this work! #fincom1013
• Pres doc will be posted to this page https://franklinma.gov/town-budget/pages/pandemic-related-stimulus-funds #fincom1013
• School funds separate from Town funds #fincom1013 multiple pages in this update also, also to be posted to budget page. These funds are separate from town ops and capital budgeting. They can help fulfill requirements that would be funded by ops or capital funds
• Next up - future topics; contracts and grants can we get a view of these; MassWorks grant of $2.2m can distort analysis. What are you getting at? Maybe better to go at this by Dept. rather than overall. #fincom1013
• Budget overview and CPC update schedule for the meeting 11/10 #fincom1013 meeting adjourns

Audio recording of meeting to be available in couple of days

Town of Franklin: Human Resources Update - 10/13/21 from Franklin Matters

Finance Committee hears update from Human Resources, and ARPA funds