Showing posts with label free cash. Show all posts
Showing posts with label free cash. Show all posts

Wednesday, April 7, 2021

FM #504 -Town Council - Capital Budget SubComm - 03/31/21 (audio)

FM #504 = This is the Franklin Matters radio show, number 504 in the series. 

This session of the radio show shares the Town Council Capital Budget Subcommittee meeting held on Wednesday, March 31, 2021.

The meeting was conducted in a hybrid format: the Subcommittee members, Town Administrator and key personnel, were in the Council Chambers; the public was remote via conference bridge, all to adhere to the ‘social distancing’ requirements of this pandemic period.

Links to the meeting agenda and associated documents are included in the show notes. The recording runs about 78 minutes, so let’s listen to the Capital Budget Subcommittee meeting.   Audio file => https://player.captivate.fm/episode/4bfe56e1-5469-43da-a665-d573497a9237


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Capital Budget agenda  https://www.franklinmatters.org/2021/03/capital-budget-subcommittee-meeting-mar.html 

Town of Franklin budget page  https://www.franklinma.gov/town-budget 
Franklin Schools budget page  https://www.franklinps.net/district/school-district-budget 


Audio recording of FinComm mtg (capital budget segment)
https://www.franklinmatters.org/2021/03/fm-488-finance-committee-meeting-031021.html 

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We are now producing this in collaboration with Franklin.TV and Franklin Public Radio (wfpr.fm). 

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

 

FM #504 -Town Council - Capital Budget SubComm - 03/31/21 (audio)
FM #504 -Town Council - Capital Budget SubComm - 03/31/21 (audio)

 

Sunday, March 14, 2021

FM #488 - Finance Committee Meeting - 03/10/21 - P1 of 3 - capital budget (audio)

FM #488 = Welcome. This is the Franklin Matters radio show, number 488 in the series. 

This session shares part 1 of the Franklin, MA Finance Committee meeting held on Wednesday, Mar 10, 2021. 

The meeting was conducted in a hybrid format: the Finance Committee members, Town Administrator and key personnel, were in the Council Chambers; the remainder, along with the public, were remote via conference bridge, all to adhere to the ‘social distancing’ requirements of this pandemic period.

I’ve split the just almost three hour meeting into three logical segments:
  • *** First *** covers the capital budget discussion and vote to approve (approx. 75 minutes)
  • Second - covers the public safety presentations and discussion; the MECC, Fire Dept and Police Dept. (approx. 67 mins)
  • Third - and last but not least a look at the estimate for revenues for the FY 2022 budget. More to come on this as the budget cycle begins in earnest now meeting (approx. 30 minutes)

The show notes contain links to the meeting agenda and to my notes. 

Let’s listen to this segment of the Finance Committee meeting of Mar 10, 2021



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Agenda doc   
https://franklinma.gov/sites/g/files/vyhlif591/f/agendas/revised_fin_com_agenda_complete_1.pdf

My notes from the meeting
https://www.franklinmatters.org/2021/03/finance-committee-meeting-recap-topics.html 
 
--------------

We are now producing this in collaboration with Franklin.TV and Franklin Public Radio (wfpr.fm).

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

Franklin uses 'free cash' for its capital budget
Franklin uses 'free cash' for its capital budget


Sunday, June 30, 2019

Town Council approves $692K of free cash for projects

Another source for timely news about Franklin is MyFM 103. Given the total of the $692 was approved, it included the $24K for study and analysis the old South Meeting House. We'll need to wait for the Actions Taken document to be published to confirm.

"The Franklin Town Council unanimously approved a resolution to transfer $692,000 in freecash Wednesday evening, left over money from the town's snow and ice account that will be used for several projects. Most of the free cash $448,000 will be used for roads and infrastructure it’s estimated Franklin has a $40 million backlog of road work. Two appropriations of $100,000 is earmarked for improving public safety radio communications and for the wage settlement account, to pay for some unanticipated contractual obligations."

Continue reading the article online
https://myfm1013.com/news/franklin-town-council-approves-resolution-transfer-of-692000

Capital Budget Subcommittee agenda
https://www.franklinmatters.org/2019/06/capital-budget-subcommittee-meeting.html

Town Council agenda
https://www.franklinmatters.org/2019/06/franklin-ma-town-council-agenda-june-26.html

funds for a study of the old South Meeting House on Washington St were approved as part of the free cash allocation
funds for a study of the old South Meeting House on Washington St were approved as part of the free cash allocation

Sunday, June 10, 2018

Town Council Recap - June 6, 2018

The recap of the Town Council meeting held on Wednesday, June 6, 2018 is as follows:

  • Special recognition for James Pentikis, a student at FHS, for his work helping to prepare the FY 2019 budget documents.
  • The annual committee and board appointments for the new fiscal year was approved after an amendment to remove the appoint of the ZBA member. A new assessment of candidates for this position will be taken before bringing the appointment back to the Council.
  • The 4th of July Committee provided an update on the schedule for the coming event. It will be bigger and better than last year as the committee has had additional time to plan. Fireworks will return this year. The police and fire departments are still working out details for crowd control as the launching site will be one of the new softball fields at FHS. A mailer is about to be sent to all residents with info on the schedule and a request for donations.  https://www.franklin4th.com/
  • A long listing of legislation was approved, some for final approval and some for referral to the Planning Board. The complete listing can be found in the notes and Actions Taken document below.
  • The final approvals for the remaining free cash allocations will be on the next agenda. Approx. $500,000 remains after the snow/ice shortfall was covered. This remaining money would likely be used for other items on the Capital budget not funded in the first round earlier this year.
  • The proposal to address the parking problem caused by the Dean College students is also supposed to be on the scheduled for the next meeting.




The official Actions Taken document can be found here
https://drive.google.com/file/d/1R3ytQvC7HOqvpmLPuBvFnB4zq0-squNu/view?usp=sharing

My notes reported live from the meeting can be found here

Special recognition for James Pentikis by Councilor Padula
Special recognition for James Pentikis by Councilor Padula




Wednesday, February 14, 2018

Live reporting: Legislation for Action


J. Legislation for Action
J. Legislation for Action
1. Resolution 18-04 - Appropriation - Street Lighting (Motion to Move Resolution 18-04 - Majority Vote (5))

motion to approve, seconded, passed 8-0
funding repairs for existing street lights
requests for new ones being held until new LEDs are installed and can be evaluated in that 'light'


1aFY 18 Capital Plan Proposal
1bCapital Plan FY 19- FY 22

2. Resolution 18-05 - Appropriation - General Fund Capital FY 18 (Motion to Move Resolution 18-05 - Majority Vote (5))

motion to approve, seconded, passed 8-0
$1.866,500  for a variety of capital expenses


3. Resolution 18-06 - Appropriation - Fire Truck Stabilization Fund FY 18 (Motion to Move Resolution 18-06 - Majority Vote(5))

part of 7 year plan by savings some each year for future purchase of a new fire truck to maintain the rotation of new vehicles

motion to approve, seconded, passed 8-0

4. Resolution 18-07 - Appropriation - Turf Field Stabilization Fund FY 18 (Motion to Move Resolution 18-07 - Majority Vote (5)) 

year 1 of a ten year replacement plan

motion to approve, seconded, passed 8-0

5. Resolution 18-08 - Appropriation - Enterprise Fund Capital FY 18 (Motion to Move Resolution 18-08 - Majority Vote (5))

$405000 total for various vehicle uses

motion to approve, seconded, passed 8-0

6. Resolution 18-09 - Appropriation - OPEB Trust Fund FY 18 (Motion to Move Resolution 18-09 - Majority Vote (5))

$280,000 from free cash to the funding account to offset the outstanding liability of OPEB

motion to approve, seconded, passed 8-0

7Resolution 18-10 - Dissolution of the Senior Center Building Committee (Motion to Move Resolution 18-10 - Majority Vote (5))

motion to approve, seconded, passed 8-0

8Resolution 18-11 - Dissolution of the Library Building Committee (Motion to Move Resolution 18-11 - Majority Vote (5))

motion to approve, seconded, passed 8-0

9Resolution 18-12 - Dissolution 18-12 - Dissolution of the Franklin Advisory Committee (Motion to Move Resolution 18-12 - Majority vote (5))

motion to approve, seconded, passed 8-0

10Bylaw Amendment 18-798R - Chapter 155, Streets and Sidewalks - 1st Reading(Motion to Move Bylaw Amendment 18-798R to a 2nd  Reading - Majority Vote (5))

due to substantial changes, added an R to bring it through a second reading (actually a full cycle)

motion to move to second reading, seconded, passed 8-0

11Bylaw Amendment 18-799 - Chapter 82, Fees, Appendix B - Sewer Rates - 2nd Reading (Motion to Approve Bylaw Amendment 18-799 - Majority Roll Call Vote (5))

sewer rates ave increased state wide 14% in 3 years, state average is $816/vs. Franklin average of $440
effective for bills after June 30, 2018

motion to approve, seconded, passed 8-0 (via roll call)


12Bylaw Amendment 18-800 - Chapter 82, Fees, Appendix B - Water Rates - 2nd Reading (Motion to Approve Bylaw Amendment 18-800 - Majority Roll Call Vote (5))

effective for bills after June 30, 2018
avg $595/year vs $470 in Franklin, last rate change was 6 years ago

motion to approve, seconded, passed 8-0 (via roll call)

Tuesday, January 30, 2018

Franklin, MA: Finance Committee - Agenda - Jan 30, 2018

The agenda for the Finance Committee meeting scheduled for Tuesday, Jan 30, 2018.


1. Call to Order
2. Election of New Officers; Chairman, Vice-Chairman, and Clerk
3. Public Comments
4. Approval of Minutes
5. Free Cash Overview/Administration
6. Capital Budget Presentations:

  • School Department
  • Facilities Department
  • Technology Department
  • Town Clerk Department
  • Fire Department
  • Police Department
  • Public Works Department
  • Water Enterprise Department

7. Final Recommendations and Vote
8. Adjournment



Trust Fund Balances Update as of 12/31/17
• General Stabilization      $ 5,060,984
• Recreation Fields                    6,802
• Open Space Acquisition    1,101,229
• Budget Stabilization         1,848,663
• Free Cash                       2,821,988
• OPEB                              4,072,090
• Property Acquisition            260,620

OPEB Obligation as of 6/30/17 (PAYGO): 69,295,796


The full agenda document can also be found on the Town of Franklin webpage
http://www.franklinma.gov/finance-committee/agenda/finance-committee-agenda-revised-3

Franklin, MA: Finance Committee - Agenda -Jan 30, 2018
Franklin, MA: Finance Committee - Agenda -Jan 30, 2018

Wednesday, December 7, 2016

Finance Committee approves funding

In a preview of the funding measures coming before the Town Council on Wednesday, the Finance Committee heard the updates from Town Administrator Jeff Nutting and Deputy Administrator Jamie Hellen before voting to approve all three.

The three funding items
  • Technology – E Permitting Purchase
  • Technology – Google Applications Purchase
  • Turf Field Design and Development

Town Administrator Jeff Nutting and Deputy Administrator Jamie Hellen
Town Administrator Jeff Nutting and Deputy Administrator Jamie Hellen

(be sure to scroll within the Storify widget to review all the entries)

Additional info on the Finance Committee can be found on their page in the Town of Franklin website   http://www.franklinma.gov/finance-committee

Monday, December 5, 2016

Finance Committee - Agenda - Dec 6, 2016

The Finance Committee is scheduled to meet on Tuesday, Dec 6 at 7:00 PM in the Council Chambers. The full agenda document is attached below with the key items highlighted here:

  • Technology – E Permitting Purchase
  • Technology – Google Applications Purchase
  • Turf Field Design and Development

Items for Discussion:

Town Administrator Updates 
  • FY 17 Capital/FY 18 Budget, 
  • Multi-units development in Town

the new artificial turf field at FHS has good softness with its new infill although it is  crumb rubber and is controversial
the new artificial turf field at FHS has good softness with its new infill although it is 
crumb rubber and is controversial


Worthy of note is the balance of the budgetary savings accounts. These accounts are used to plan for actual or emergency expenses.

The "Rec Fields Stab" is money set aside to replace the FHS and Beaver St artificial turf fields. Coincidentally, one of the action items on this agenda is to use some money from the "Free Cash" to fund the design for those fields. The design is needed to put the work out to bid with an expectation to have the fields replaced during the period June-July 2017.


Balances update 09/30/16


  • Gen Stab 4,987,740
  • PW Stab -0- 
  • Rec Fields Stab 870,105
  • Traffic Stab 4,611 
  • Fire Truck Stab 486,407
  • Property Acquis Stab 255,527 
  • Open Space 1,085,668
  • Budget Stab 1,345,759 
  • OPEB Trust 2,262,251
  • Free Cash 3,516,586


OPEB Obligation: Pay as you go 93,975,598 as of 6/30/15



Sunday, April 10, 2016

Town Council authorizes $6.2 million for spending and sets aside $300,000 for future

The Town Council was busy approving spending and saving on Wednesday evening. The grand total approved was $6.5 million with the breakdown shown below.


Savings Approved
Fire truck$100,000
Artificial Turf Fields$200,000
$300,000
Spending approved
Election expenses$3,500
Veterans Benefits$50,000
Sidewalks for Pleasant and Chestnut Streets$1,800,000
Capital expenses (see listing for individual items)$1,938,607
Water improvements$1,300,000
Sewer improvements$1,200,000
Recreation improvements$50,000
$6,288,607
grand total of approvals$6,588,607


Within the document, the links will take you to the details on each authorization item



You can also find a copy of this file on the Town of Franklin webpage
http://franklin.ma.us/Pages/FranklinMA_News/023987EB-000F8513


My notes reported live from the meeting on Wednesday can be found here



DelCarte will get some funding to address the invasive species issues
DelCarte will get some funding to address the invasive species issues

Sunday, March 8, 2015

MassBudget: Analyzing the Governor's Budget for FY 2016

The Governor's Budget starts the Franklin budget process at the state level. Why? Franklin depends heavily on state funding for its local budget. Being aware of what is happening on the state level is a key piece to understanding what Franklin can do with its local budget.

Each department has prepared their capital needs. These will be prioritized and dependent upon what is left of 'free cash' after the shortfall in the snow/ice budget is covered.

Each department has also prepared their operational budget needs which will begin to get reviewed at the Finance Committee before coming to the Town Council for hearings and then a vote to approve the budget in late May or early June. The budget needs to be in place to fund operations for the new fiscal year beginning July 1.

It is note worthy that one of the 'one time solutions' in the Governor's budget is the delay of a payment of $24 million to the state OPEB account. Franklin has an outstanding unfunded liability of about $89 million in our OPEB account. One of the priorities in our budget will be to increase some funding each year to help cover the requirements.

Stay tuned for frequent updates as the budget process develops over the next several weeks.



MassBudget  Information.
  Participation.
 Massachusetts Budget and Policy Center  Democracy.


Analyzing the Governor's Budget for FY 2016

In releasing his state budget proposal (House 1) on Wednesday the Governor identified important priorities: "creating better communities, better schools, and better jobs for all of Massachusetts." House 1 does not, however, propose the types of significant investments in these areas that could make a meaningful difference in the lives of working people across the state.

With the budget, the Governor filed a tax reform proposal that would significantly help lower-wage working people across the state: a doubling of the state earned income tax credit. This is a tax credit that increases the after tax wages of people with incomes under about $52,000 a year. The largest benefits go to low wage workers with children. It helps these families to make ends meet and be able to pay for basic necessities like food, clothing and rent. The Governor proposes paying for the increase in the earned income tax credit by eliminating the state's tax subsidies for movie producers.

Our Budget Monitor describes the spending proposals in each major section of the budget. One of the most notable features overall is how heavily this budget proposal relies on temporary revenue and savings and on proposals that may prove to provide only temporary savings. As the chart below describes, the budget relies on over $600 million in temporary solutions that will help to balance the budget this year but will leave in place a longer term structural gap.
 
one time solutions  
In addition, the budget counts on $178 million in savings from an early retirement program. This savings estimate assumes that most of the positions of people who retire would not be filled. It is not clear, for reasons we describe in the Monitor, that doing so would be possible, or in the best interests of the Commonwealth.

Te read our full Budget Monitor, please click HERE

The Massachusetts Budget and Policy Center (MassBudget) produces policy research, analysis, and data-driven recommendations focused on improving the lives of low- and middle-income children and adults, strengthening our state's economy, and enhancing the quality of life in Massachusetts.

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BOSTON, MA 02108
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