Townsend Finance Committee Discusses Innovative Budget Tracking
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Meeting Type:
Financial Oversight Board
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Meeting Date:
04/09/2024
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Recording Published:
04/11/2024
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Duration:
20 Minutes
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State:
Massachusetts
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County:
Middlesex County
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Towns:
Townsend
- Meeting Overview:
In a recent Townsend Finance Committee working session, the committee members, including Don Hayes, Andrea Wood, and Mark Hussey, focused on developing a more detailed and transparent budget tracking system. Despite the absence of a quorum which led to the cancellation of the scheduled meeting, a productive working session ensued, centered on budget format and the recording of results for future presentation to the full board.
The proposed system is designed to capture individual line items within the budget, distinguishing wages from expenses and providing a platform for ongoing notes and updates. This would facilitate a more informed decision-making process, both for the committee and the public, by offering greater insight into changes and trends within the budget allocations.
The committee also deliberated on how to handle budget lines without firm amounts, such as insurance costs, where only estimates were available. The consensus was to record these as estimates and to revisit them as more concrete information became available.
Furthermore, they discussed the complications arising from the lack of clarity regarding the future of the ClearGov software, a platform initially granted to assist with budgeting. Despite its potential, it was not successful in meeting the town’s needs, and the committee decided to continue without it, as there was no funding to reassess its viability.
The committee is committed to preparing for the upcoming town meeting and intends to work on a five-year financial outlook, taking into consideration the implications of the ARPA (American Rescue Plan Act) funds and ensuring the town’s financial stability in the future.
Eric Slagle
Financial Oversight Board Officials:
Don Hayes, Jerrilyn Bozicas, Andrea Wood, Mark Hussey, Sam Grant, Jene Dilda
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Meeting Type:
Financial Oversight Board
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Meeting Date:
04/09/2024
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Recording Published:
04/11/2024
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Duration:
20 Minutes
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Notability Score:
Routine
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State:
Massachusetts
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County:
Middlesex County
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Towns:
Townsend
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