Lying Liars Lie Again

Calendar Year vs Fiscal Year

A calendar year runs from January 1st of any given year to December 31st of that same year.

A  fiscal year runs from July 1st of any given year to June 30th of the next year.

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From Jeff Bennett's Templeton Watch:

Friday, December 1, 2017
Templeton tax rate set by the Massachusetts Department of Revenue;

$16.72 per thousand, couple that with increase in valuations and people will see a nice tax bill increase coming their way - Merry Christmas

On Templeton Town website, one can find the bid/contract proposals for the police station addition listed at $2,133,200.00. This seems to contrast with the amount listed in a memo from the part time town administrator to selectmen.

part of that memo:
The initial reaction is that we will not be able to obtain a MIG 1 rating.  There is a strong possibility we can achieve a MIG 2 rating but that is never certain until one formally submits the documentation for review.  Even if we achieve a MIG 2 rating it is at least .25% above the interest rate of a borrowing rated MIG 1 rating.  Our advisor has recommended, and I agree, that we not seek a formal bond rating at this time but instead finance our needs through unrated bank notes.

The maximum for this in this calendar year will be $10,000,000 which is more than enough to cover our needs ($5M BAN, $1M Police, $2.3 Sewer, $1.7 new money).  This gives us $5.4M+/- for the school in CY ’18.  We will then seek an additional $10,000,000 in CY 2019 and continue to work toward an acceptable bond rating as your financial picture slowly improves.

Notice that 1 million for the police station - time to regroup/ so does that mean only 4.5 million for the new school for FY 18?
Does anyone remember that 1.9 million dollar number for a 12,000 sq. ft. building for a town hall? I think the bid proposals came in near 4 million, leaving me with the opinion when the elected ones tell you it will cost this $$$, you should take that number and double it.  Lets not forget that 5 million dollar BAN (bond anticipation note) due in December. Will there be a bond or will that note be extended?

On another front, Hubbardston is the latest town to change to all salt for the winter months. Some of the reasons given, saves money, keeps road side drains clean, salt is actually a anti ice - de-icing agent while sand is neither of those. That is from an article in a news paper with the DPW director explaining that. No mention of a required $250,000.00 for a new storage facility.

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From the November 30, 2017 Town Administrator Report:

 

 "It is anticipated that the new elementary school will open to students in the Fall of 2019."

 

So $10,000,000 will be borrowed in the Calendar year 2018. Not all of that money will go to the school building project.

 

Another $10,000,000 will be borrowed in the Calendar year 2019. 

Question: How on earth will a $ 47 million dollar school be built with $15,000,000 in Town of Templeton borrowings AND be open in the Fall of 2019?

 

Even with MSBA reimbursement? 

 

Seems there is a shortfall kinda like with the Police Station project.

Shell game with YOUR tax dollars!