Showing posts with label fiscal year. Show all posts
Showing posts with label fiscal year. Show all posts

Thursday, April 21, 2022

The Town of Franklin Budget Cycle & Financial Terms - 04/14/22 (audio)

FM #780 = This is the Franklin Matters radio show, number 780 in the series. 


This shares 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.  


We cover the following key topics

A typical day for Finance Director/Comptroller

A typical day for Treasurer//Collector

The budget cycle, and fiscal year (July to June)

Three financial years; past, current, and future all in the mix


Our conversation runs about 62 minutes. Links to the documents referenced during this meeting are included in the show notes.  Let’s listen to this recording of my conversation with Kerri and Chris. 


Audio file -> https://franklin-ma-matters.captivate.fm/episode/fm-780-town-of-franklin-budget-cycle-finance-terms-04-14-22



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


Budget process low chart -> https://www.franklinma.gov/sites/g/files/vyhlif6896/f/uploads/new_budget_process.pdf 


MA Division of Local Services (DLS) Municipal Finance Glossary -> https://www.mass.gov/files/documents/2016/08/qc/dlsmfgl.pdf 



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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!

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


Town of Franklin budget cycle
Town of Franklin budget cycle

Saturday, February 12, 2022

Finance Committee approves FY22 Capital Plan and revisions to ToF fiscal policy - 02/09/22 (audio)

FM #729 = This is the Franklin Matters radio show, number 729 in the series. 


This session of the radio show shares the Finance Committee meeting held on Wednesday, February 9, 2022. 


The meeting was conducted in a hybrid format: 7 members of the Finance Committee were in the Council Chambers along with some of the public, 1 member was remote along with some members the public via conference bridge, all to adhere to the ‘social distancing’ requirements of this pandemic period. (1 member was absent to complete the accounting of the 9 member committee)


  • Chair Bill Dowd opens the Finance Committee, 8 members participating (1 absent; 1 remote, hence roll call votes req'd)

  • They heard the proposed revisions to fiscal policy doc, as marked up, minor change suggested to include the enterprise accounts specifically under the heading, rather than listed separately; approved to send to Town Council

  • They heard the proposal for the FY 22 capital plan, clarification questions asked along the way before approving $2+M to send to Town Council

  • Joint budget subcommittee scheduled to meet March 10, next meeting of FinCom scheduled for March 9, canceling the April meeting as they will be meeting over four nights in May for the budget hearings


The recording runs about 45 minutes, so let’s listen to the Finance Committee meeting Feb 9, 2022. Audio file -> https://franklin-ma-matters.captivate.fm/episode/fm-729-finance-cmte-mtg-02-09-22



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Meeting agenda =>   

https://www.franklinma.gov/finance-committee/agenda/fin-com-agenda-20 


Link to Finance Committee => https://www.franklinma.gov/finance-committee 


My notes for the meeting =>  https://www.franklinmatters.org/2022/01/recap-finance-committee-gets-walk.html 



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


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"

 

Finance Committee approves FY22 Capital Plan and revisions to ToF fiscal policy - 02/09/22 (audio)
Finance Committee approves FY22 Capital Plan and revisions to ToF fiscal policy - 02/09/22 (audio)

Friday, February 11, 2022

Recap: Finance Committee approves Capital Plan for FY 22 and revisions to fiscal policy

Quick Recap:
  • Finance Committee, 8 members participating (1 absent; 1 remote, hence roll call votes req'd)
  • heard proposed revisions to fiscal policy doc, as marked up, minor change suggested to include the enterprise accounts specifically under the heading, rather than listed separately; approved to send to Town Council
  • Heard proposal for capital plan, clarification questions asked along the way before approving $2+M to send to Town Council
  • Joint budget subcommittee scheduled to meet March 10, next meeting of FinCom scheduled for March 9, canceling the April meeting as they will be meeting over four nights in May for the budget hearings
The Twitter thread for my notes missed the first two but the others can be found in one PDF  https://drive.google.com/file/d/1ZDbo-UYyinDJtMyjX8GAHd7EK9EFZ8Ay/view?usp=sharing

You can also find the Twitter thread looking for the hashtag -> #fincom0209

Audio recording should be available in couple of days

  • live reporting about to commence for the #FinCom0209 meeting, one member remote, one absent so a total of 8 participating tonight
  • Agenda doc can be found -> https://franklinma.gov/sites/g/files/vyhlif6896/f/agendas/2022-02-09_fincom_agenda.pdf  #fincom0209
  • policy review (policy on page 2) proposing to remove the open space accounts as CPA is available. Req to adjust the enterprise accounts indented under the Enterprise account header (water, sewer, trash) #fincom0209
  • Q on host community agreement - what it is and how long it lasts, $300K / year (not to exceed 3% of gross sales) - currently set at 5 years for Franklin #fincom0209 this completes the review of the policy, motion to approve, via roll call 8-0
  • FY 22 capital plan (see agenda doc) total free cash $4.4M a high amount, maybe a record, won't likely be repeated. proceeding section by section or the separate capital plan doc here ->  https://drive.google.com/file/d/1NmZGJ1f4Z8FiEpvZTVFUbRRZgkujzwxD/view?usp=sharing #fincom0209
  • with $4.4M as starting point, set aside for snow/ice, and to debt stabilization, leaves us with $2+M for the capital plan, first pass now, after snow/ice confirmed, to come back for a second pass #fincom0209
  • Dept level: School Department, School Technology, School Facilities - $701,000 multiple items covered in the details in agenda doc #fincom0209 Q - to clarify on text books, yes it is both materials and Chromebook licenses
  • one of the Senior Center requests is for a pavilion outside to provide some shade. If you have ever seen it, it is exposed, the bocci court is covered (at either end) but the chairs/tables are totally exposed. #FINCOM0209 hopefully to have Tri-County students build
  • fire alarm system upgrade, the vehicles were in the plan for several years and have risen to the top this year; grant to assist for the clothing request #fincom0209
  • 5 replacement vehicles for police, vehicles were hybrid but not available so they would go gas; NationalGrid doing a fleet analysis to help determine the economics would take approx. a year #fincom0209
  • on to enterprise accounts: water treatment plant analysis; tank replacement analysis for the hill behind Dean. #fincom0209 sewer enterprise, general improvements to whole system; Federal ARPA fund guidance being changed, may now qualify for ARPA, want to get it done either way
  • did apply for SRF funding for the Beaver St connector, set to bid in late August and then 2 year construction; loan will be paid out of sewer enterprise fund; can tell how much it could be now, too early. #fincom0209 will need to get the bids, SRF gets a 0% loan
  • check out the listing of all the other items that are on the wish list for future consideration #fincom0209 approve what has been submitted for, via roll call 8-0
  • approval of Jan 12 minutes, motion, second, passes 8-0 via roll call #fincom0209
  • stabilization account update, listed at the end of the capital and capital memo #fincom0209
  • future agenda items, DPW deep dive, next month (March 9); may cancel the April meeting - they will be meeting multiple times in May 2022 (budget hearing)
  • Joint Budget subcommittee meeting March 10, approx. 6:30 or 6 #fincom0209 motion to adjourn, second, passes 8-0 via roll call
Finance Committee Meeting - Feb 9, 2022 - agenda to review the FY 2022 Capital Plan
Finance Committee Meeting - Feb 9, 2022 - agenda to review the FY 2022 Capital Plan

Wednesday, March 31, 2021

Fiscal Year 2021 4th Quarter Real Estate & Personal Property Tax Bills have been mailed

Fiscal Year 2021 4th Quarter Real Estate & Personal Property Tax Bills have been mailed

Treasurer Collector, Kerri A. Bertone has mailed the Fiscal Year 2021 4th Quarter Real Estate and Personal Property tax bills. 

The due date for these bills is May 3, 2021


Shared from: https://www.franklinma.gov/treasurer-collector/news/fiscal-year-2021-4th-quarter-real-estate-personal-property-tax-bills-have


Fiscal Year 2021 4th Quarter Real Estate & Personal Property Tax Bills have been mailed
Fiscal Year 2021 4th Quarter Real Estate & Personal Property Tax Bills have been mailed

Monday, January 6, 2020

Franklin Issue on the 2020 'Watch List': Multiple Fiscal Challenges

I struggled with a short and quick way to state the obvious without going over the top to grab a headline. There are any number of fiscal challenges facing Franklin, and yes, I believe that this year IS different from the prior years. While I have heard any number of folks say every budget year is a challenge, in the dozen or so years I have been closely reporting on the Franklin budget, I have not seen as many issues come together as this year brings.

Exhibit one: the Town Council's proposed 'goals and objectives' doc fortunately captures most of these in the first Fiscal section:
Fiscal

● Approval of Annual Capital Improvement Plan -- FY20 and FY21
● Approval of a balanced Operating Budget -- FY21 and FY22
o Closely monitor expected budget shortfalls in both FY21 and FY22
● Establish Ad Hoc Subcommittee to evaluate storm water fee analysis
o Present analysis to the full Council
Determine Water rate increase for FY20/FY21, notably for the water treatment plant and wells loan package
Determine Sewer rate increase, if needed, for FY20/FY21
● Seek new borrowing capacity for municipal and school building capital improvements and sidewalks
● Discussion on the Community Preservation Act
Discussion on Trash & Recycling account
● Continue to ask for OPEB solutions with state officials
● Explore new revenue options, generally

The Town always passes a 'balanced budget', by law it has to, so the real issue is how do you bring the revenue and expense sides to 'balance' especially with "expected budget shortfalls in both FY21 and FY22"?

There is a new storm water fee coming and we are already facing increases in the water/sewer and trash/recycling fees. That is a whole lot of money coming from Franklin residents in one year. So I rest my case that it will be a challenge and ask your participation in the resolution.

The adage goes: you can be part of the problem, or part of the solution! I recommend getting involved in the discussion (aside from Facebook!) to be part of the solution. 

Action:
  • Get to a meeting. 
  • Talk with our Town Council, School Committee, Finance Committee, School Administration (including Superintendent Sara Ahern) as well as Town Administrator Jamie Hellen.
  • Have a civil conversation about one or more of these issues, together we can, and must, find a solution.

The full goals and objectives doc can be found on the Town of Franklin page
https://www.franklinma.gov/sites/franklinma/files/mai/files/8b._town_council_2020-2021_goals_memo.pdf

 
Franklin Issue on the 2020 'Watch List': Multiple Fiscal Challenges
Franklin Issue on the 2020 'Watch List': Multiple Fiscal Challenges

Monday, March 18, 2019

Franklin, MA: Town Council - Agenda - Mar 20, 2019

The published agenda and documents for the Franklin Town Council meeting scheduled for Wednesday, March 20, 2019

You can also find the full set of documents in one PDF
https://www.franklinma.gov/sites/franklinma/files/agendas/town_council_meeting_agenda_for_march_20_2019.pdf

You can also find the individual documents on the Meeting Agenda page
https://www.franklinma.gov/town-council/agenda/march-20-town-council-agenda

(Note: where there are active links in the agenda items shown below, the link will take you to the associated document)

Agenda ItemSummary
Town Council Meeting Agenda
Meeting of March 20, 2019
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. CITIZENS 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
None
4. PROCLAMATIONS/RECOGNITIONS
None
5. APPOINTMENTS
None
6. HEARINGS
None
7. LICENSE TRANSACTIONS
None
8. PRESENTATIONS/DISCUSSIONS
8a. PRESENTATIONS/DISCUSSIONS
a. Auditors- Independent Auditors Report for the Year Ended June 30, 2018
8b. PRESENTATIONS/DISCUSSIONS
b. Recreation Department
8c. PRESENTATIONS/DISCUSSIONS
c. Department of Public Works- Recycling
9. SUBCOMMITTEE REPORTS
a. Capital Budget Subcommittee
b. Budget Subcommittee
c. Economic Development Subcommittee
10. LEGISLATION FOR ACTION
10a. LEGISLATION FOR ACTION
Resolution 19-25: Appropriation Police & Fire Station Improvements (Motion to Approve Resolution 19-25 - Majority Vote (5))
10b. LEGISLATION FOR ACTION
Resolution 19-26: Appropriation Transfer Funds Public Works Curbside (Motion to Approve Resolution 19-26- Majority Vote (5))
10c. LEGISLATION FOR ACTION
Bylaw Amendment 19-839: Municipal Service Fees- Recycling Sticker Rate Increase- 1st Reading (Motion to Move Bylaw Amendment to a 2nd Reading- Majority Vote (5))
10d. LEGISLATION FOR ACTION
Bylaw Amendment 19-840: Municipal Service Fees- Curbside Trash/Recycling Rate Increase- 1st Reading (Motion to Move Bylaw Amendment 19-840 to a 2nd Reading- Majority Vote (5))
11. TOWN ADMINISTRATORS REPORT
12. FUTURE AGENDA ITEMS
13. COUNCIL COMMENTS
14. EXECUTIVE SESSION
None Scheduled
15. ADJOURN
Due to global market issues for recycling, proposal to increase curbside fee
Due to global market issues for recycling, proposal to increase curbside fee



Tuesday, January 23, 2018

Insights from the Audit Report 2017

The Audit Report for Fiscal Year 2017 does not have a "Management Letter" this time around. Hence, one can easily say the Town is in the best financial position from a control perspective than ever before.

The Audit Report is a good source of information, not just data.

How much stabilization money do we have?
At the end of 2017, the total was $6.7M a decrease of $1.3M primarily due to the use the purchase of the fire truck and the resurfacing of the turf fields. Both have stabilization accounts where we were saving for this expected purchase. (See the table at the top of page 10 of the printed doc, page 13 of the PDF for details).

How much did the FY 2017 budget change during the year?
You might be surprised to find that we added $3.9M to the budget but that was primarily due to the use of the "free cash" from the prior year. The expenditures for the fire truck and turf fields helped to contribute to this as money from "free cash" was added to what was saved in their respective stabilization accounts to provide the total for each purchase. (See General Fund Budgetary Highlights on page 10 of the printed doc, page 13 of the PDF for details).

How many stabilization funds do we have and what amount is in each?
Other than the agenda doc for each Finance Committee meeting which shows the current total during the fiscal year, this is one place to see that answer. The table also shows the change in funds along with the change in amounts over the years from 2008 to 2017. (See section G. Stabilization Funds on pages 11-12 of the printed doc, page 14-15 of the PDF for details).

How do we get "free cash"?
"Free cash" is neither free nor cash. It comes from two sources. (1) You receive more revenue than you budgeted for (2) you spend less than you budgeted for. You can see this effect in the table on See General Fund Statement of Revenues and Other Sources, Expenditures and Other Uses - Budget and Actual, for the year ended June 30, 2017. According to this, we should have $2.9M 'free cash' to use for FY 2018 which is less than we had available in FY 2017 (recall the $3.9M). (See page 19 of the printed doc, page 22 of the PDF for details).


You can find the audit report on the Town of Franklin webpage as part of the Town Council agenda for the January 24 meeting.
http://www.franklinma.gov/sites/franklinma/files/mai/files/2017_audit.pdf

Insights from the Audit Report 2017
Insights from the Audit Report 2017

Monday, January 11, 2016

In the News: contractor chosen for Senior Center project, Franklin's fiscal prospects good

From the Milford Daily News, articles of interest for Franklin

"After a process that drew lower-than-expected bids, a local committee voted Friday to award a contract for a renovation of the Franklin Senior Center. 
The Senior Center Building Committee opted to hire general contractor GTC Construction Management of Haverhill. The company bid just more than $1 million on a project that had been estimated to cost in the neighborhood of $1.6 million. 
Committee chairman and Town Council member Tom Mercer said the project had garnered nine bidders - a higher total than expected. 
Fellow committee members noted that there was not much variance among the bids, which was another surprise."
Franklin Senior Center in the rain
Franklin Senior Center in the rain

Continue reading the article online (subscription may be required)
http://www.milforddailynews.com/news/20160111/franklin-senior-center-contractor-chosen


"The town should be in good financial shape for the next couple of years, but may face challenges in the future, according to a recently-released fiscal forecast. 
Town Administrator Jeffrey Nutting put forward his five-year forecast during the most recent Town Council meeting. During a brief oral summary, he spoke about its basic conclusions. 
"It hasn't changed dramatically from last year," he said. "The town is in good shape in the short run, but there continue to be concerns about the future, as fixed costs continue to rise."

Continue reading the article online (subscription may be required)
http://www.milforddailynews.com/news/20160110/franklin-short-term-fiscal-forecast-positive

You can find the five year fiscal forecast referred to here
http://franklin.ma.us/Pages/FranklinMA_News/022E2532-000F8513

Wednesday, January 6, 2016

Live reporting: to closing


K. TOWN ADMINISTRATOR’S REPORT
– Fiscal Forecast
to be posted to webpage this week (is as part of agenda doc now)
state aid is always an unknown, there are variations within the components
the charter school is looking to expand the school with a new facility, this could affect the reimbursement

when we saw the 17 and 18 numbers, it makes 19 look a little better
do have collective bargaining agreement with all the locals
teachers union remains to be worked by Schools

will be used by the Finance Committee as part of the budget process

change in harassment policy - for review by Council

L. OLD BUSINESS
Bissanti - alcohol awareness
Cerel - looking into this, no litigation to provide guidance
can provide before license is issued or if there is a problem

Jeff - survey sent to all the license holder, if they require training of their staff
Kelly - waiting for them to get their info together so we can put it on the agenda

draft report on DelCarte in couple of weeks (an update on an old item for Padula)

M. NEW BUSINESS
none

N. COUNCIL COMMENTS
Jones - happy new year, looking forward to goal setting session next Tuesday

Dellorco - Coalition, next meeting Feb 2, begins at 7 at FHS auditorium

Bissanti - happy new year, EDc has a lot of things going on

Pfeffer - happy new year

Vallee - rumors about the FHS football team with nasty remarks about
can someone enlighten me on how come we can't produce a winning team?

Mercer - open bids on Senior Center project last week, all 9 bids came in under budget, vetting low bidder; taking extra step to go to DECAM and vet the bidder their, looking to vote to award the contract. Beaver St possible entrance still under discussion

Padula - I had the privilige to be coached by Leone, it is a serious issue, the kids are affected by it, we are watching it and will weigh in on it

Pellegri - congrats to Alexis for MA Teen
can we keep the lights on through January?
Betty Noble, election worker and teacher for many years passed away this past week

Kelly - happy new year

O. EXECUTIVE SESSION
- Pending or threatened litigation

Proposed Excelon expansion of Medway electric generating facility pending before Energy Facilities Siting Board.
Proposed Spectra gas transmission line through Franklin.

motion to go to executive session, seconded, passed 9-0

Saturday, November 14, 2015

The new Town Council packet to study

At the beginning of each new term for the Town Council, Town Administrator Jeff Nutting provides the councilors with a packet of information. You can read along too!

Town Council getting sworn in by Town Clerk Debbie Pellegri
Town Council getting sworn in by Town Clerk Debbie Pellegri

1 - Town of Franklin - Home Rule Charter

http://town.franklin.ma.us/Pages/FranklinMA_TownCharter/revised%202013.pdf

The preamble to the Charter:
"We, the people of the Town of Franklin, Massachusetts, in order to form a more perfect community, reaffirm the customary and traditional liberties of the people with respect to the conduct of our local government and take fullest advantage of the Home Rule Amendment to the Constitution of the Commonwealth, do ordain and adopt this Home Rule Charter for our Town."

2 - Role of the Town Council

http://town.franklin.ma.us/Pages/FranklinMA_Council/role.pdf

The first section reads as follows:
1. A member of the Council, in relation to his/her community should:
A. Realize that his/her basic function is to make policy, with administration delegated to the Administrator.
B. Realize that he/she is one of a team and should abide by, and carry out, all Council decisions once they are made.
C. Be well-informed concerning the duties of a Council member on both local and state levels.
D. Remember that he/she represents the entire community at all times.
E. Accept the office as a means of unselfish service, not benefit personally or politically from his/her Council activities.
F. In all appointments, avoid political patronage by judging all candidates on merit, experience, and qualifications only.
G. Abide by the ethics established by the State and not use the position to obtain inside information on matters which may benefit someone personally.

3 - Fiscal Policies

http://town.franklin.ma.us/Pages/FranklinMA_Council/fiscal.pdf

Note: the fiscal policy document handed out on Wednesday is a proposed update to the document currently approved by the Town Council and linked to above.


4 - Fiscal 2016 Budget

http://town.franklin.ma.us/Pages/FranklinMA_Admin/budgets/FY%2016%20Budget/

The Fiscal budget is really a set of documents with the Budget Letter by Town Administrator Jeff Nutting summarizing the revenue and expense driving factors.


Additional information on the Town Council can be found on the Franklin website here  http://town.franklin.ma.us/Pages/FranklinMA_Council/index