Wednesday, November 18, 2015
Live reporting: OPEB
G. HEARINGS
none
H. LICENSE TRANSACTIONS
none
I. PRESENTATIONS/DISCUSSIONS
OPEB, Dan Sherman
also made presentation to FinCom this evening (meeting at 6:00PM)
had been 'pay as you go' costs for retirement
government accounting standards required changes in how this was handled
the amount of the outstanding promise was required to be specified, hence - "unfunded"
what is the time value of the money invested?
400,000 plus 10% of free cash is currently being planned for as part of the budget for the annual contribution. However, the requirement is about $2M so we are 'underfunded'
total unfunded liability = $92,5M
or 1.5% funded
the fact that we are setting money aside in the trust is good in the eyes of the rating agencies
the liability is 161% is low compared to peers, a 'wonderful place to be'
the annual cost of a home is all the ongoing costs, heating, electric, etc.
you also have a mortgage which is your liability
ARC = Annual Required Contribution, the amount that will be the line item eventually added to the budget
most communities are like us, setting something aside but not completely funding the liability
Like Needham, put some aside, gradually up the amount and eventually close the gap
Shrewsbury 2020 or bust, attempting to fully fund
some communities are not doing anything which the rating agencies won't like
Dan is currently a member of the FinCom for Wakefield, putting money aside to get fully funded eventually
pre-funding brings a bunch of advantages
OPEB is the one thing that for an employee is not paid up front, is paid after the employee retires
Q - to clarify on the unfunded and partial pre-funding
Q - can we change the plans we offer?
A - yes, we change the health plans frequently working with the unions
68/32 ratio
probably about 20 of the 350 communities are fully pre-funding
new employees don't get the same benefit as older employees
law change is being looked at for a change in the formula
Padula - recommend a motion to ask for legislative help
Kelly to be added to a future agenda
full copies to be posted to Town webpage in a couple of days
Live Reporting: Town Council - Nov 18, 2015
Present: Padula, Vallee, Kelly, Pfeffer, Bissanti, Dellorco, Mercer (remote via phone)
Absent: Jones
Pellegri (also present but not as a member of the Council yet)
A. APPROVAL OF MINUTES
C. ANNOUNCEMENTS
- 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.
D. PROCLAMATIONS/RECOGNITIONS
E. CITIZEN COMMENTS
none
F. APPOINTMENTS
Franklin Community Cable Access, Inc.- Board of Directors
William K Norman, Rose Turco
re-doing the vote to cover a technicality where last week it was referenced as a committee when they are really to the Board of Directors
Liaisons -SAFE Board
Communications
Absent: Jones
Pellegri (also present but not as a member of the Council yet)
A. APPROVAL OF MINUTES
C. ANNOUNCEMENTS
- 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.
D. PROCLAMATIONS/RECOGNITIONS
E. CITIZEN COMMENTS
none
F. APPOINTMENTS
Franklin Community Cable Access, Inc.- Board of Directors
William K Norman, Rose Turco
re-doing the vote to cover a technicality where last week it was referenced as a committee when they are really to the Board of Directors
Liaisons -SAFE Board
- Dellorco
Communications
- Jones
"Start by asking Great Questions"
StoryCorps invites families across America to participate in its Great Thanksgiving Listen from Nov. 26-29.
The goal of this project is to preserve the voices of a generation, in a single weekend. Equipment required is a smartphone or tablet and the StoryCorps App, available free for Apple and Android devices. The stories recorded can remain private or become part of the Library of Congress. The free app allows for up to 40 minutes per listening session to be recorded.Continue reading the article online (subscription may be required)
http://www.milforddailynews.com/article/20151117/NEWS/151116642/1994/NEWS
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| Story Corp - recording booth |
The Getting Started quick ref card
https://storycorpsme.s3.amazonaws.com/uploads/2015/10/Getting-Started.pdf
Interview tips
https://storycorpsme.s3.amazonaws.com/uploads/2015/10/Interview-Tips.pdf
Review some sample questions to ask https://storycorps.org/great-questions/
Downtown Partnership - Networking Luncheon - Nov 20
Please join us for our upcoming Networking Luncheon
Friday, November 20, at 1 p.m.
Dean College Smith Dining Center
This luncheon is a great opportunity to talk about your business and grow relationships with other professionals in a relaxed atmosphere while enjoying a delicious lunch. It is an ideal way for new businesses to get the word out about their ventures and make new connections.
The Franklin Downtown Partnership holds these networking luncheons every 3rd Friday of the month. Networking Committee Co-Chairs Gary Donelan and Matt Lechter are looking in to after-hours events at local businesses, and are actively looking for speaker ideas. Please contact them with topics that you feel are instrumental to your business success.
Gary Donelan, gary.donelan@middlesexbank.com
Matt Lechter, mlechter@dean.edu
Friday, November 20, at 1 p.m.
Dean College Smith Dining Center
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| Dean College Smith Dining Center |
This luncheon is a great opportunity to talk about your business and grow relationships with other professionals in a relaxed atmosphere while enjoying a delicious lunch. It is an ideal way for new businesses to get the word out about their ventures and make new connections.
The Franklin Downtown Partnership holds these networking luncheons every 3rd Friday of the month. Networking Committee Co-Chairs Gary Donelan and Matt Lechter are looking in to after-hours events at local businesses, and are actively looking for speaker ideas. Please contact them with topics that you feel are instrumental to your business success.
Gary Donelan, gary.donelan@middlesexbank.com
Matt Lechter, mlechter@dean.edu
Franklin represented on Hockomock Cross Country All Stars - 2015
From Hockomock Sports, we share the All Stars for Cross Country. Nicole Clermont was named the MVP for the Girls
HOCKOMOCK LEAGUE MVP
HOCKOMOCK LEAGUE ALL STARS
Catherine Song, Canton
Lindsey Nelson, Foxboro
Erin Quinn, King Philip
Julie Romano, Mansfield
Jenise Madden, Milford
Ann Roberts, North Attleboro
Elizabeth Peckham, Oliver Ames
Olivia Timbone, Oliver Ames
Carly Ryter, Sharon
Ariadne Tolay, Sharon
Amanda Baptiste, Taunton
HONORABLE MENTIONS
HONORABLE MENTIONS
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| the top 16 girls at the Hockomock Cross Country Championships, Oct 31, 2015 |
Girls Cross Country
HOCKOMOCK LEAGUE MVP
- Nicole Clermont, Franklin
HOCKOMOCK LEAGUE ALL STARS
Catherine Song, Canton
Lindsey Nelson, Foxboro
- Nicole Clermont, Franklin
- Kate Hartnett, Franklin
- Brittany Robinson, Franklin
- Sabrina Roche, Franklin
Erin Quinn, King Philip
Julie Romano, Mansfield
Jenise Madden, Milford
Ann Roberts, North Attleboro
Elizabeth Peckham, Oliver Ames
Olivia Timbone, Oliver Ames
Carly Ryter, Sharon
Ariadne Tolay, Sharon
Amanda Baptiste, Taunton
HONORABLE MENTIONS
- Nicole Mucciarone, Franklin
Boys Cross Country
HONORABLE MENTIONS
- Ryan Spelman, Franklin
Girls
Boys
Franklin's Meals on Wheels Program can use your help!
Got a few hours in the morning that you want to use helping others?
Deliveries are any weekday from 10:30 AM - 12:00 noon (routes are in Franklin and 2 surrounding towns).
Kitchen help is from 9:00 AM - 11:00 AM (in Franklin). Call 508-520-1422 with questions.
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| Meals on Wheels needs your help! |
Deliveries are any weekday from 10:30 AM - 12:00 noon (routes are in Franklin and 2 surrounding towns).
Kitchen help is from 9:00 AM - 11:00 AM (in Franklin). Call 508-520-1422 with questions.
Franklin Lifelong Learning: Decorating Holiday Cupcakes - Dec 2
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