MFOB ...say what?
An agenda item at tonight's selectmen's meeting:
Could there be a problem with obtaining a bond for the elementary school project? Say it ain't so!
So you want to borrow more money when the town is broke? without a bond rating? With no audits completed for FY13, FY 14, FY 15, FY 16 and FY 17?
On the bright side, the contract has been signed to have the audits completed:
$28,000 per audit. 5 audits @ $28,000 = $140,000
SHOW ME THE MONEY!
Show me where the money is coming from ?? As a member of the Advisory Board, you the readers of this blog must have the picture of where our Town really stands financially. This is no joke. The light at the end of the tunnel is not the end of our troubles. It is the train, about to run us over. I can see no way that we can afford this project at this time. We have too much debt already, so I do hope the people on this committee will have enough brains to say no. We have to much debt, and not enough income. It is as simple as that. If the Selectmen were responsible they would put this project on hold. I hope you know we have spent over 300,000. so far, trying to get our books done. Sen. Brewer told us that "no one would care about was done" during this time period. I did not agree then and I do not agree now. You cannot spend money you do not have, so why should the town ??
ReplyDeleteIt appears our town is run by the same people that brought us the 2008 financial crisis.
ReplyDeleteThe application for the MFOB, questions 9,10 ask about our "bond rating". Will we just answer, NONE!
It truly seems that our management is running the town on the "feels good" method.
Another thing. I thought 2013 was complete and had a $1,000,000 deficit? Why are we doing the audit again? Are we paying $28,000 for a signature.
What is our present debt? How are we possibly going to stay under 10% of borrowing limit?
No audits for 4 years, no bond rating, tax rate as high as ever and we are going to borrow more money then we ever have............Good planning!
So when we look at how far in debt we are as a town the numbers we will be told do not include the debt of the water dept. or the light dept and the co op they have formed for the wind power productions.
ReplyDeleteOur debt is a shell game that could be a big problem if the ratepayers don't pay their bills like the sewer customers that are holding out.
Chapter 164 laws that govern the operation and state the town is liable if the departments default. Hold onto your tax rate it could at any time be in for a rough ride into the ditch.
What will the light plant do with the 500,000.000 refund in 2017 for the over payments in the past. Batteries,Buildings,and new trucks come to mind when looking at their agendas. Maybe a new police cruiser or a loader for the highway dept.
How about a new sander all season body for one or both of the wing plow trucks to make the snow plow operation more efficient.
2017 should be a very interesting year for changes in Templeton.
You can bet your last dollar that the Town departments do not see a dime of that money. Maybe they could pay down some of their debt. How many new trucks do these guys need ? It would be nice if they could share but I doubt they will. The Light Commissioners could donate some money to the Town as they did every other time we were in a hole, but that will not solve the problem of having more government than we can afford. That is the bottom line.
ReplyDeleteHow are we paying this when the Gardner News reports .........The Board of Selectmen is working on ways to eliminate a $200,000 shortfall in this fiscal year’s budget, prompting members to take a close look at a possible restructuring of departmental administration as one of the ways to lower costs enough to meet the current gap, and continue the savings into fiscal 2018 and beyond.
ReplyDelete