The town has announced the final results for FY08 and the news is good, nearly $2 million. You can get an idea where those turn backs came from at this post. I also find that amount troubling because the taxpayers approved a $1.5 million override for FY09 based upon dire predictions of mass layoffs and reduction of services if the override failed. Some of the money returned ...
...came from health care and insurance accounts so they are not direct labor costs, but the townspeople have every reason to wonder why an override was needed. I do. I have not noticed a drastic reduction of services and since $178K was returned from the unemployment insurance account, I don't think there has to be wholesale layoffs.
What I think is that this state of affairs highlights the need for a multi year financial plan as I called for in this post and this one. What are your thoughts on unspent revenue amounting to 5% of the tax levy?
Wednesday, September 10, 2008
Turn backs and overrides
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7 comments:
One of the things that struck me about the "free cash" this year was that $300k of it was actually the "free cash" from last year. This was the money that Fincom gave the schools from the reserve stemming from last year's turnbacks.
Also, the highway department may have turned back $252k but that was money that was charged back to ratepayers for water and sewer. I don't know what people's water and sewer bills are like because I have a well and septic. The rates stayed the same so I guess it's O.K.
I believe we are about to enter into a debate about spending this money on the operational budget and what defines operational versus capital expense. Arguments were made at the last Town Meeting that certain things were capital expenses even though they have historically treated as operational. I feel that one of the most pressing needs is the library roof and this is unarguably a capital expense.
I agree, we need to take care of town buildings. We'll see what happens at Fall Town Meeting. Should be interesting.
I agree Bill. I was shocked when I heard the amount and I'm sure there are a lot of taxpayers out there wondering how this can be. I'm not saying there isn't an explanation, what I am saying is there should be a plan so this doesn't happen. With all the dire predictions of government coming to a halt, this is a bit ironic.
i think we should be celebrating. Cutting back, becoming more efficient and adjusting to a new policy of receiving no replenishing of budgets at fall mtg is a process which is apparently working. With the knowledge that expenses due to utilities, health ins. etc continuing to rise this money will be needed to extend our budget without needing an override in the near future.
Ed Iacaponi has no vision and needs to retire. This stuff could have been figured into the operational equation. The fact of the matter is no leader on Select Board does anything about Ed or Mike's job performance. There should be discussion as to whether these people are the best profesasional people for the future? All this underfunding, for no reason it seems. We need the plan Bill for how we want to fund our services and then we need to do it. Enough see saw and will see attitudes. Every dept. could have been funded better.
Free oil anyone? How about getting it from the oil companies, many local ones not our strapped town budget. How high will the rainy day fund get after Fall meeting?
We will never know the truth here. Who do we trust and which override is right? Beats the heck out of me.
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