Thread by @FranklinMatters

Ready for the Joint Budget Subcom meeting, first one of the new charge status with 4xTown Council, 3xSchCom, 3xFincom as members #jbsc0310

Follow along with the agenda doc here franklinma.gov/joint-budget-s… #jbsc0310

One member on way but otherwise a quorum and ready to go #jbsc0310

Also one FinCom member unable to attend tonight #jbsc0310

"Three teams functioning as one town", FinCom during April will be conducting their budget hearings to do deep dives into each dept, the Town Council will do their hearings in May #jbsc0310

TA Jamie Hellen starts with revenue overview #jbsc0310 record breaking new growth numbers over past years but has slowed for FY 22 and projected for FY 23, working with Governor's H2 budget until it becomes final in Jul/Aug and then adjustments as reqd made before rate is set

Clarification on local receipts and how derived, hotel, cannabis, 10 yr avg and then juggled to make sense of it, it can get adjusted but so far seems to be within the realm of actually #jbsc0310

Estimates for new personnel hiring and tracking system (yes, paper was primary method today) added to the budget for this year #jbsc0310 cost driver for police is transitioning of new folks as two more senior folks are expected to retire in summer

For modeling purposes, the estimated school budget exceeds the net revenue increase so that doesn't work. #jbsc0310 (as those in SchCom earlier saw, they are requesting less than this 'model' amount) stay tuned as the details get worked out

Debt and debt reduction lines have been decreasing, so we do have capacity to do stuff. And the list is long, only question is which and when do they happen #jbsc0310 collective bargaining year, hence a set aside for anticipated settlement costs

This overwhelming a fixed cost budget, major costs are in jobs; between schools and DPW they are the major drivers and both still need resources #jbsc0310 clarification on compensation reserve, and on MECC charge after expansion, open at this point

This model shows a shortage of $3.2M, MECC can help with $600k so it can be 2.6, so then what else, where else does the balance come from before we go for the stabilization fund or override? THAT is the question!! #jbsc0310

Shifting now to the School budget, Superintendent Sara and Miriam are ready to share, #jbsc0310 recommended budget presented on Tuesday, so the new net opportunity could come down (if my cheat sheet is good)

Model had $3.4 for schools, the recommended is 2.3 hence a 1.1 less amount; take that off the 2.6 and we get to about 1.5 (again assuming my math is good) #jbsc0310

Clarification on revolving accounts, asking for more info...#jbsc0310 the account take fee revenue and pay expenses against the service of those fees, accumulated a balance and are dipping into the balances to offset (not a long term practice for successful budgeting)

Chair Mercer doesn't like "side" as a term as it indicates an opposition and we are together so he prefers to use "part" hence town part of the budget and school part of the budget #jbsc0310

Superintendent expressing nicely the outlook for the next several years #jbsc0310 clarification on net school spending, what's in and out, how the State/DESE does the calculation for all the districts to generate some equivalence

Got up to clarify my napkin math and it was ok'd as good... Q from A Charles to clarify the interest rate and AAA rating which we are striving towards. #jbsc0310

Important for committee to take the same message back to each of their committees, next meeting in April (date TBD) #jbsc0310

Mercer expressing desire for folks to take opportunity to keep informed on these matters #jbsc0310
Meeting adjourns, that is all for tonight, catch you next time!

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