said by Judith Pond Pfeffer in reference to the discussion around the information provided on assessed value versus sales price of local business/commercial properties since 2005.
"This is a deceptive piece of information... not apples to apples, oranges to oranges.."
Wednesday, November 28, 2007
Live blogging - Town Council Meeting 11/28/07
Tax rate hearing: Q&A
Where in Franklin? #20
Let's see if you can identify this building.
The guidelines to play "Where in Franklin?" can be found here.
Enjoy!
Before setting the tax rate
With the library leaking and the museum headed for a new downtown home, the Finance Committee recommended last night that money for the projects be taken from a fund dedicated in the past to open space.
The fund currently holds $1.6 million and is drawn from the town's hotel/motel tax. While that money would remain earmarked for open space, upcoming earnings from the current fiscal year would go to the library and the museum under a plan proposed by Town Administrator Jeffrey Nutting and recommended by the Finance Committee.
...
Since the Finance Committee is an advisory group, the Town Council is expected to discuss the museum and library tonight (Wednesday 11/28/07). To use the hotel/max tax for purposes other than open space, the council must make a final decision before setting the tax rate.
Tuesday, November 27, 2007
Town Council Meeting - Important Agenda Items
Given the recent discrepancy found in the school budget, the agenda calls for correcting this imbalance.
The Finance Committee met tonight as well as the School Committee. I chose to attend the School Committee meeting. We can depend on Michael Morton of the Milford Daily News to report on the FINCOM meeting.
A brief discussion with some members of the FINCOM after their meeting seemed to indicate they propose for the shortfall to be split between the Town and the Schools. The Town piece would be covered by the not yet certified "free cash" (in the mean time from the stabilization fund) with the School piece to be absorbed with additional budget cuts.
Yes, the schools already took a 2.1 Million cut (as the override only covered 2.4 of what they requested) and will apparently need to absorb another $300K.
We'll see what the Town Council does Wednesday 11/28/07.
The scheduled agenda can be found here (PDF file).
Michael Morton's recap of the Finance Committee meeting can be found here.
The Finance Committee met tonight as well as the School Committee. I chose to attend the School Committee meeting. We can depend on Michael Morton of the Milford Daily News to report on the FINCOM meeting.
A brief discussion with some members of the FINCOM after their meeting seemed to indicate they propose for the shortfall to be split between the Town and the Schools. The Town piece would be covered by the not yet certified "free cash" (in the mean time from the stabilization fund) with the School piece to be absorbed with additional budget cuts.
Yes, the schools already took a 2.1 Million cut (as the override only covered 2.4 of what they requested) and will apparently need to absorb another $300K.
We'll see what the Town Council does Wednesday 11/28/07.
The scheduled agenda can be found here (PDF file).
Michael Morton's recap of the Finance Committee meeting can be found here.
Franklin School Committee Statement 11/27/07 (audio)
The statement made by the Franklin School Committee regarding the budget shortfall just revealed as read by Chairperson Jeffrey Roy at the meeting 11/27/07
Time: 2 minutes, 53 seconds
MP3 File
an image version of the statement is available here
the text version of the statement is available here
Time: 2 minutes, 53 seconds
MP3 File
an image version of the statement is available here
the text version of the statement is available here
School Committee Statement 11/27/07 (image)
A image of the statement as read by Chairperson Jeffrey Roy Tuesday night at the School Committee meeting regarding the financial discrepancy just discovered.
School Committee Statement 11/27/07 (text)
Statement for November 27, 2007 Meeting
During the process of closing the financial books for the 2007 fiscal year, the Town Comptroller discovered irregularities in the school district’s accounts. Specifically, several 2007 expenses were charged against the 2008 budget. This practice is not allowed under Massachusetts Municipal Finance Law.
The Franklin School Committee, in conjunction with the Town Council, immediately ordered a complete legal and financial review of the circumstances surrounding these irregularities. Our effort includes an independent professional audit covering fiscal years 2005, 2006 and 2007.
In addition, the school district’s finance director has been placed on administrative leave.
Preliminary information indicates that these accounting irregularities may result in a shortfall of approximately $590,000 in the budget for the fiscal year that ended June 30, 2007.
However, the internal review and independent audit are still ongoing and the precise circumstances of the problem will not be known until both are completed. We expect the results to be presented to the School Committee and the Town Council sometime in mid to late December.
On the advice of our attorney, the School Committee and School Administration will not discuss this matter publicly or privately until such time as the review and audit are completed. Further discussion before then could create significant budget, legal and personnel issues for the schools and the town that would jeopardize efforts to understand the full circumstances of the situation.
Members of the School Committee and School Administration take this matter very seriously, which is why we have initiated a comprehensive review and audit and took the personnel action we did. We will provide a full legal and financial accounting as soon as possible after the detailed results of the investigation are completed.
During the process of closing the financial books for the 2007 fiscal year, the Town Comptroller discovered irregularities in the school district’s accounts. Specifically, several 2007 expenses were charged against the 2008 budget. This practice is not allowed under Massachusetts Municipal Finance Law.
The Franklin School Committee, in conjunction with the Town Council, immediately ordered a complete legal and financial review of the circumstances surrounding these irregularities. Our effort includes an independent professional audit covering fiscal years 2005, 2006 and 2007.
In addition, the school district’s finance director has been placed on administrative leave.
Preliminary information indicates that these accounting irregularities may result in a shortfall of approximately $590,000 in the budget for the fiscal year that ended June 30, 2007.
However, the internal review and independent audit are still ongoing and the precise circumstances of the problem will not be known until both are completed. We expect the results to be presented to the School Committee and the Town Council sometime in mid to late December.
On the advice of our attorney, the School Committee and School Administration will not discuss this matter publicly or privately until such time as the review and audit are completed. Further discussion before then could create significant budget, legal and personnel issues for the schools and the town that would jeopardize efforts to understand the full circumstances of the situation.
Members of the School Committee and School Administration take this matter very seriously, which is why we have initiated a comprehensive review and audit and took the personnel action we did. We will provide a full legal and financial accounting as soon as possible after the detailed results of the investigation are completed.
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