Fascinating meeting working meeting last night. The Liars Club met to discuss actions to remedy the 31 page management letter released on April 25, 2017.
Haven't seen this kind of tap dancing since I don't know when:
Lots of tap dancing at last night's meeting, although not of the caliber displayed above.
The good news, a number of policies and procedures are to be adopted to correct some of the material findings in the 31 page management letter .
The bad news? Given the demonstrated track record of the selectmens' inability to follow their own policies and procedures, there is much doubt about policies and procedures fixing any of the material weaknesses found in the 31 page management letter, if those policies and procedures are not enforced.
31 page management letter, the lack of a full-time, permanent town administrator.
To Bob M. - The budget passed(FY 18) is unbalanced, just like last year's budget (FY 17). Last year the Selectmen's solution to an $87,500 shortfall, was to raid the $142,000 stabilization fund at the October 20, 2016 special town meeting.
Fortunately, that article was defeated. About a week later, the $87,500 shortfall ballooned to over $200,000. End of the year transfers will need to take place to "balance" FY 17.
The FY 18 budget passed at town meeting is at least $100,000 in deficit. Can't wait to see how large that $100,000 figure will balloon.
The federal government kicked the can down the road as far as a budget until September.
The Commonwealth of Massachusetts is currently behind in tax revenues for FY 17.
"“There were no answers today other than, I think, a shared commitment to find the right way forward," Senate Minority Leader Bruce Tarr said after the meeting of minds resulted in a number of theories being batted around as to why, in a period of economic growth, the state seems to lurch from budget crisis to budget crisis.
Baker said he's working through a solution to the $462 million shortfall in revenues hoping against hope that May tax collections will alleviate some of the pressure on this year's state budget.
But things could be worse. Again, just look down I-95 where Connecticut Gov. Dan Malloy is confronting his own state's revenue shortfall by emptying the Nutmeg State reserves and proposing to pull back on local aid payments. It hasn't gotten that bad here ... yet.
But the hole already dug means that as things stand now tax revenue would have to grow by almost 5.8 percent next year to make the math on the House's budget and the one filed by Baker add up. Given recent history, that would be like betting on Pablo Sandoval to steal 50 bases next year."
The town has unbalanced budget for FY 18.
"A shit storm is coming, and you don't have the right umbrella."