By Meredith McCulloch
The Town is in good fiscal shape,” Finance Director Victor Garofalo said at the beginning of the Fiscal Planning and Coordinating committee on October 2. The committee meeting marks the beginning of the budget process that will not conclude until Annual Town Meeting next March.
The model presented represents the financial status of the town as it approaches Special Fall Town Meeting, November 9. Garofalo reviewed recent changes:for example, the amount of state aid provided to cities and towns varies each year, based on multiple factors impacting the state’s own financial health. The amount of state aid is announced in January of each year when so called “cherry sheets” listing aid and assessments for town are released. This year the projected state aid is up by 3.6%.
Several other factors impacted the financial model. Last year there was less snowfall than usual so there is no large snow removal deficit to be made up. New residential and commercial growth is up in town. The cost of debt service budgeted for this year is lower because capital bonding has been delayed for the Lane School expansion project and for the new fields at Liljegren Way.
On the expense side, an increase in the number of pupils entering fifth grade required an increase in the Schools’ budget. The need for an additional teacher had been projected for the kindergarten class, but the fifth grade saw the increased enrollment.
The Fiscal Planning and Coordinating Committee is comprised of two Selectmen, the School Superintendent, chair of the School Committee, the chairs of the Finance and Capital Expenditures Committees, and chairs of the independent boards (Library Trustees, Planning Board, Board of Health, and Board of Assessors.) Four administrators, The Town Manager, Finance Director, Treasurer/ Collector, School Superintendent, and School Business Manager, serve as ex officio members.
With the projected budget as a guide, the Finance Committee will issue guidelines to departments in early December that will set expectations for their FY18 budgets. New budget requests will be presented to the Finance Committee in January and early February. The Finance Committee will make recommendations on each to the Annual Town Meeting. The six-month process concludes with Town Meeting votes in March
Editor’s Note: This article has been revised for clarification and to correct errors of fact.
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