Thread by @FranklinMatters

Was going to be reporting on the SchCom Community Relations meeting but it either hasn't started, or someone is not letting folks in, or ??? #schcom0112 plenty to do tonight, Finance Committee up at 6:30 stay tuned for reporting on that!

If you have time, you can dial in to wfpr.fm to listen to my interview with Superintendent Sara Ahern, it is followed by Chair Tom Mercer and I in our "quarterbacking" session for the last Town Council meeting. Good info for both sessions? #schcom0112 #fincom0112

Agenda doc for the Finance Committee, note it has supporting pages with great info franklinma.gov/finance-commit… #fincom0112

#fincom0112 the meeting starts a little late, they have quorum, some in person and a couple remote, at request, Chair Dowd does provide names for those present.

Town Administrator Jamie Hellen provides insights into the joint budget committee meeting, looking to formalize the charter for the group and meeting regularly enough to help with the info and sharing with the community. #fincom0112

Charge or framework not part of meeting, #fincom0112 does get to see it, Town Council should see it next time. First draft of FY 2023 targeted for Mar 2022. Joint Budget would meet in mid March to review situation at that time

Getting the three bodies (Town Council budget -4, SchCom budget -3 and FinCom budget -3) #fincom0112 together to help make the decision and direction for the budget. Finance currently has 4. Would this also apply to capital? Let's do this first?

No decision making process for Joint, focus on collaboration and sharing info. #fincom0112 not meant for getting into the finance role of the hearings with Dept heads and line item details, side discussion on history of charter, prop 2 1/2, etc. Head nodding support for this

Page 3 of doc will be talked to and get into the revenue sheet #fincom0112 copy of part of sheet shown - for discussion purposes ONLY!

Excellent walk through of how the numbers come together #fincom0112 10 year avg and then an understanding of market conditions, pandemic is clearly having and impact; seen with the reduction of FY 2022 in Dec to set the tax rate, new growth not meeting last year's level

Debt exclusions listed showing the active ones and when they roll off. #fincom0112 highlights that we also need to plan to utilize that available capacity - town plans for 3% of op budget to support debt, with debt declining (as it is paid off) we have capacity to do more

Capacity to do more like Beaver St interceptor, police station renovate or build anew sometime? Etc... #fincom0112 note on chap 70 not mentioned, we won't get more because we already get $10m more than we should

Concerned about fee impacts, less anticipated due to pandemic, hotel revenue down, also means revenue reduction for us, maybe in a few years but not until then #fincom0112 cannabis fees (3%) of sales likely to recommend to support ops budget rather than capital

Only way to get pilot fee from Dean is to have a better relationship, not just Town Administrator; need a community relationship, and support of the school, and they need to give some love too #fincom0112

Capital program aside, there is more flexibility with CPA funds too. #fincom0112 CPA funds properly used will save from ops or capital dollars.

Bottom view of same sheet as shown earlier #fincom0112

Finance policy reviews, didn't get to redline possible changes. #fincom0112 possible removal of open space fund as we have CPA now, change wording on restriction of use only for ops rather than open space DPW Director Cantoreggi scheduled for 1/19/22 Council meeting ...

To get into the deep dive on DPW budget and operation requirements, lots of decisions possible, budget related too. #fincom0112 probably to look at again for next meeting with potential changes

General business, motion to approve mins for Dec 8, second, passes unanimously 7-0 via roll call #fincom0112 meeting schedule proposed Apr 20 meeting possible conflict with Jamie will address as we get closer. Budget timeline included in there too. Stabilization acct status

While we don't need fire truck money immediately, should not take the fund away, we will need eventually #fincom0112 when does the OPEB money get used? Dan Sherman back Mar 3, when he says. Real question is how is it applied to the liability?

Income from the fund will be used to pay for the benefits of the retirees, to pay for that bill then. Not now yes, but needed #fincom0112 discussion on what would happen if Medicare for all really happened, would this be needed, would someone come get it?

Great philosophical discussion. Capital and fiscal policies next month. Recycle on radar, DPW road process maybe if not covered with Council session, in May during the budget hearings yes #fincom0112
Motion to adjourn, vote via roll call passes 7-0

That's all for tonight, catch you next time! #fincom0112

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