The latest on Franklin's OPEB

• What is OPEB?

OPEB is "Other Post Employment Benefits"

• What is Franklin's outstanding unfunded liability?

Per the latest actuarial report (shown below), the unfunded liability is 92.5 million dollars.

• Is this an issue?

Yes, it is akin to a homeowner's mortgage, you need to have a plan to pay for it. Franklin has a plan to save for this liability and plans to increase their contribution to it as circumstances allow.

• How is Franklin doing compared to other MA communities?

Franklin is doing better than most according to the actuarial update provided at the Town Council meeting on Nov 18th
http://www.franklinmatters.org/2015/11/live-reporting-opeb.html


Here is the cover letter from Sherman Actuarial Services, LLC (SAS):

"The Town of Franklin has engaged Sherman Actuarial Services, LLC (SAS) to prepare an actuarial valuation of their post-retirement benefits program as of June 30, 2015. This valuation was performed using employee census data, enrollment data, claims, premiums, participant contributions and plan provision information provided by personnel of the Town of Franklin. SAS did not audit these data, although they were reviewed for reasonability. The results of the valuation are dependent on the accuracy of the data. 

The purposes of the valuation are to analyze the current funded position of the Town's post­ retirement benefits program, determine the level of contributions necessary to assure sound funding and provide reporting and disclosure information for financial statements, governmental agencies and other interested parties. This valuation report contains information required by the Governmental Accounting Standards Board's Statements Nos. 43 and 45, respectively entitled "Financial Reporting for Postemployment Benefit Plans Other Than Pension Plans" and "Accounting and Financial Reporting by Employers for Postemployment Benefits Other Than Pensions." 

According to GASB principles, if the benefits are not prefunded, the rate earned by the General Asset Account must be used to select the discount rat used to measure the plan. To measure on that basis we have used a discount rate of 4.0%. The Town is currently partially prefunding the obligation with additional contributions of $400,000. Based on this policy, we have determined that a discount rate of 4.5% is appropriate for financial reporting purposes. If the Town were to commence fully prefunding the Annual Required Contribution instead of paying benefits when due plus $400,000, the measurement would likely be based on an 8.0% discount rate. 

Section II provides a summary of the principal valuation results. Section VII provides a projection of funding amounts. 

While the actuary believes that the assumptions are reasonable for financial reporting purposes, it should be understood that there is a range of assumptions that could be deemed reasonable that would yield different results. Moreover, while the actuary considers the assumption set to be reasonable based on prior plan experience, it should be understood that future plan experience may differ considerably from what has been assumed. 

The report was prepared under the supervision of Daniel Sherman, an Associate of the Society of Actuaries and a Member of the American Academy of Actuaries, who takes responsibility for the overall appropriateness of the analysis, assumptions and results. Daniel Sherman is deemed to meet the General Qualification Standard and the basic education and experience requirement in the pension area. Based on over twenty years of performing FAS 106 valuations of similar complexity, Mr. Sherman is qualified by experience ·in retiree medical valuation. Daniel Sherman has met the Qualification Standards of the American Academy of Actuaries to render the actuarial opinion contained herein. 

The costs and actuarial exhibits presented in this report have been prepared in accordance with Generally Accepted Accounting Practices and the requirements of GASB 45. I am available to answer questions about this report. "

Respectfully Submitted,

SHERMAN ACTUARIAL SERVICES, LLC

DelCarte in autumn color 2015

The full report from Sherman Actuarial Services, LLC (SAS) can be read here:



Or use this link
https://drive.google.com/open?id=0B0wjbnXDBhczZFhRbjVXWjBPNTQ




Page 3 and page 10 were the two handouts for the Town Council meeting on Nov 18th




or use this link
https://drive.google.com/open?id=0B0wjbnXDBhczTkxYNkVCTVdGOTg


The Needham story
http://www.franklinmatters.org/2014/06/best-practice-how-is-needham-addressing.html

In the News: Santa on the Town Common, YMCA diabetes program

From the Milford Daily News, articles of interest for Franklin

Santa Claus is coming to town this Sunday to preside over a tree lighting at the Town Common. 

The event - set for Sunday, Nov. 29, at 4 p.m. - will see the lights, strung by the Department of Public Works, come aglow and the season officially start. 

Barbara Rondeau, who organizes the tree lighting, said the town has been holding the event for the past 22 years. 

"When Santa comes to the common on a firetruck ... at that time, we do the lighting," she said. "He sits on the bandstand and each child gets a gift."

Santa on the Town Common - November 2014

Continue reading the article online (subscription may be required)
http://www.milforddailynews.com/article/20151127/NEWS/151126475/1994/NEWS

The Hockomock Area YMCA released Diabetes Prevention Program, designed to support adults that are at high risk of developing type 2 diabetes and reduce their risk for developing the disease. 

The one-year program, consisting of 24 sessions, will provide a welcoming environment where participants work together in a small group to learn about healthier eating and increasing their physical activity. The classroom-based program is facilitated by a Y-USA trained facilitator at the Hockomock Area YMCA ,which has facilities in North Attleborough, Foxborough and Franklin.

Continue reading the article online (subscription may be required)
http://www.milforddailynews.com/article/20151127/NEWS/151127197/1994/NEWS

Franklin Federated Church: Christmas Concert - Dec. 12

Franklin Federated Church will present this year's Annual Christmas Concert, Peace on Earth, on Saturday, Dec. 12, at 7:00 PM at the church at 171 Main Street.

The concert will feature an arrangement of classical music and Christmas melodies performed by "Quartet Duviteux," a string quartet of young, talented musicians who met as students at the New England Conservatory of Music.The quartet has been described as "proficient, passionate, gifted, international, irreverent, flexible, experimental, and joyful."

Quartet Duviteux

The group hails from all points on the compass. Maria van der Sloot, violin, is from Medicine Hat, Alberta, Canada; Luther Warren also plays violin, and comes from Minneapolis, Minnesota; Linda Numagami plays viola, and comes from Philadelphia, Pennsylvania; and Cellist Marza Merophi Wilks was born in Peru and spent her high school years in Ithaca, New York.

Tickets are $15 and can be purchased by calling the church office at 508-528-3803.

Upcoming Events in Franklin, MA Area: FRI 11/27/15 - THU 12/3/15

FRIDAY 11/27/15
7:30pm   The Black Box: Electric Youth Reunion Concert
8-9:50pm   Frozen Friday DJ Public Skate at Pirelli Arena

SATURDAY 11/28/15
ALL DAY - #SHOPSMALL, support your local small business #shopFranklin

SUNDAY 11/29/15
4-6pm   Annual Christmas on the Common with Santa and Tree Lighting at the Town Common Gazebo

TUESDAY 12/1/15
Dec 1- Dec 12   Food Elves: 12 Days of Donating -  annual fundraiser for Franklin Food Pantry. To see how you can help, click HERE.

WEDNESDAY 12/2/15
7pm   FPAC holds an open auditions for Othello at The Black Box

THURSDAY 12/3/15
9:30am-12:30pm and 4-7pm  Holiday Business Extravaganza at the Franklin YMCA
4-8pm   FDP’s 7th Annual Holiday Stroll at Downtown Franklin. Get your flyer HERE.
7pm   Meet the Poster Sisters of Imperfection at BFCCPS. Open to public.
7:15pm   Conservation Commission public hearing on updates of Open Space and Recreation Plan (Municipal Building, Council Chambers).

For all the Town of Franklin Public Meetings click HERE.

For event details click HERE.

*If you have any suggestions or events for the calendar, please email Renata@BetterLivingRE.com

Abbreviated Survey for the Open Space and Recreation Plan

The survey to update the Open Space and Recreation Plan has been abbreviated from two pages to a single page.

The single page can be downloaded to fill out from here
https://drive.google.com/open?id=0B0wjbnXDBhczT2ZVM0pmdnlDbHc


You can submit your completed survey in one of the following ways

• Franklin Public Library
• Franklin Town Clerk
• Recreation Department
• Planning and Community Development
• Senior Center

or via postal mail to

Open Space and Recreation Planning Study 

Department of Planning and Community Development 

355 East Central St 

Franklin, MA  02038

Del Carte recreation space in autumn 2015

The initial release of the survey and process to update the Open Space Plan
http://www.franklinmatters.org/2015/11/franklin-open-space-and-recreation-plan.html


The report from the public meeting at the Library on Nov 14th
http://www.franklinmatters.org/2015/11/open-space-and-recreation-plan-public.html

The Franklin Police Association fund raising could use your help!

The Franklin Police Association is a charitable organization that promotes the welfare, education, and the good will of the people of Franklin. In the Past, the FPA has raised money that was donated to help several organizations within the town of Franklin. 

The Franklin Police Association has donated to local youth and high school sport teams and this past year assisted in purchasing a specialty bike for a Franklin Resident with Parkinson’s Disease. The Franklin Police Association has also supported the schools by sponsoring classes such as the anti-bullying class, by supporting D.A.R.E. Camp for local students, and by supporting other benevolent organizations. 

Franklin Police Association gofundme image

For many years, the Franklin Police Association has sponsored an annual Senior Dinner that is held between Thanksgiving and Christmas to meet with and to provide a warm meal to the senior citizens of Franklin. During this dinner the Franklin Police Association serves approximately 300-350 meals. 

With your help this year we will be able to continue our support of the above programs and look forwad to assisting other organizations in our community. Any amount you can donate will be greatly appreciated and will be continued to be put to good use.

Thank You for your support


The GoFundMe page is here  https://www.gofundme.com/a84sjf6x

National Diabetes Awareness Month

During National Diabetes Awareness Month, the Hockomock Area YMCA is encouraging the community to learn their risks for prediabetes and type 2 diabetes, and to take preventive steps to potentially reduce their chances of developing the disease.

Statistics for the Centers for Disease Control and Prevention (CDC) show that one in four Americans (86 million people) have prediabetes, up from 79 million in 2010. Prediabetes is a condition in which a person’s blood glucose is elevated, but not high enough for a diabetes diagnosis. Only 10 percent of those with prediabetes know they have it but with awareness and simple actions, people with prediabetes may prevent the onset of diabetes.

The Hockomock Area YMCA has released a Diabetes Prevention Program designed to support adults that are at high risk of developing type 2 diabetes and reduce their risk for developing the disease.

Add caption

This 1-year program, consisting of 24 sessions, provides a welcoming environment where participants work together in a small group to learn about healthier eating and increasing their physical activity. This classroom-based program is facilitated by a Y-USA trained facilitator at the Hockomock Area YMCA which has facilities in North Attleboro, Foxboro and Franklin.

Individuals are encouraged to assess their risk for prediabetes and type 2 diabetes by taking a simple test at YMCA.net/diabetes.

Through this assessment, visitors can also learn how lifestyle choices and family history help determine the ultimate risk for developing the disease. Several factors that could put a person at risk for type 2 diabetes include race, age, weight and activity level. If a person is at risk, a diabetes screening conducted by a physician can confirm a diabetes or prediabetes diagnosis.

The Hockomock Area YMCA is helping to improve health through their Prescription for a Healthy Lifestyles program which includes the YMCA Diabetes Prevention Program. These supportive, small group physical activity programs are making a positive difference in the lives of individuals diagnosed with or at risk of a chronic disease.

Making lifestyle changes that contribute to weight loss and healthy living can decrease the risk for type 2 diabetes. Among these are:

• Eat fruits and vegetables every day.
• Choose fish, lean meats and poultry without skin.
• Aim for whole grains with every meal.
• Be moderately active at least 30 minutes per day five days a week.
• Choose water to drink instead of beverages with added sugar.
• Speak to your doctor about your diabetes risk factors, especially if you have a family history or are overweight.

To learn more about the Hockomock Area YMCA’s Diabetes Prevention Program and other Prescription for a Healthy Lifestyle Programs, please contact phl@hockymca.org or call 508-772-1310.

About the Hockomock Area YMCA:

Where Cause Meets Community. At the Hockomock Area YMCA, strengthening community is our cause. The Hockomock Area YMCA is an organization of men, women, and children sharing a commitment to nurture the potential of kids, promote healthy living, and foster a sense of social responsibility. 

The Hockomock Area YMCA is committed to partnering and collaborating with others to create and deliver lasting personal and social change in the 15 communities they are privileged to serve. The Hockomock Area YMCA is a not-for-profit charitable cause-driven organization with facilities in North Attleboro, Foxboro, Franklin, and Mansfield. For more information visit hockymca.org.