Right now the 2.5% increase equates to $7,000,000…    Referring back to our  5 Ways to Cut Taxes column on this:

  1. Cut North High payment by $1,600,000
  2. Please cut Wayfinder $1,000,000
  3. Do not spend $900,000 on new snow removal equipment, it was pre-treatment allocation of current vehicles problem.   New snow removal equipment does not address the real problem
  4. Local Receipts:   review what has actually been collected versus what has been collected in FY2016.

 

Do not not put $500,ooo to the OPEB unfunded liability.  Look no further then the Town of Holden who OPEB liability is maybe 10% that of the City of Worcester, who has a policy to put 10% of free cash or $250K to their OPEB liability.  IN FY17 this will equate to $385,000!!      Why did Holden do this???  GASB changes has made a municipality OPEB liability front and center and not hidden in some footnote.  If we do have a plan for OPEB, it will effect our bond rating!!!!

If we cut the $500,000 for OPEB it will hurt our bond rating, while the other cuts will not!!!!