Right now the 2.5% increase equates to $7,000,000… Referring back to our 5 Ways to Cut Taxes column on this:
- Cut North High payment by $1,600,000
- Please cut Wayfinder $1,000,000
- 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
- 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!!!!
— Mass. Municipal Assn (@massmunicipal) June 2, 2016