Acushnet Board of Selectmen Takes Strategic Steps in Financial Management and Community Projects
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Meeting Type:
City Council
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Meeting Date:
10/22/2024
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Recording Published:
10/22/2024
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Duration:
86 Minutes
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State:
Massachusetts
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County:
Bristol County
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Towns:
Acushnet
- Meeting Overview:
In a meeting, the Acushnet Board of Selectmen focused on the town’s financial strategies, including the management of the OPAB trust program and investment portfolios, the appointment of a new town accountant, and the establishment of a committee for potential golf course improvements. Additionally, the board addressed snowplow driver retention and discussed enhancing payment systems at the recycling center.
The meeting commenced with a detailed review of the town’s involvement in the Plymouth County OPAB trust program, which aims to manage retiree healthcare liabilities. Kate Canny, accompanied by Treasurer Thomas O’Brien and Dennis Mel Mullins, explained the program’s structure and benefits, highlighting its growth to 34 members since 2015. The trust’s assets are protected and designated for retiree healthcare, with a confirmed tax-exempt status for contributions and distributions. Acushnet’s initial $100,000 contribution in September was part of liquidating an existing asset, with the trust’s balance standing at $1,535,486 by the end of September.
The investment strategies of the OPAB trust were also explored, with Mullins detailing a growth portfolio heavily invested in equities. The portfolio’s performance was noted, with a 12.04% return year-to-date, emphasizing a preference for index funds over managed ones due to consistent outperformance. A discussion on the economic conditions acknowledged the resilience of the market despite previous recession predictions, with GDP growth exceeding expectations.
The appointment of Michael Ellis as the new town accountant marked a notable move towards stabilizing the finance department. Ellis, bringing experience as a municipal auditor and assistant town accountant, was welcomed warmly. His role is anticipated to bring long-term stability, aligning with the board’s vision for robust financial management.
The board also considered improvements to the golf course facilities, with discussions on forming a committee to explore renovation or replacement options for the clubhouse. The facility is nearing the end of its useful life, coinciding with the completion of the golf course debt. A five-member committee was proposed to develop a plan within budget constraints.
Snowplow driver retention strategies were another focal point, with the board approving a $1,000 sign-on bonus for drivers with perfect attendance. This measure addresses the challenge of attracting and keeping drivers. Additionally, the board agreed on hourly rate increases for snowplow contractors.
The meeting also tackled the need for better communication and payment methods at the recycling center. A proposal for electronic payment systems was discussed to replace the cumbersome check-based system. The board expressed interest in exploring broader online payment solutions, focusing on enhancing the overall resident experience.
Cybersecurity concerns were addressed, with a suggestion to involve the IT technician in discussions to protect the town’s digital assets. As the town integrates more online services, the board emphasized the need for robust security measures to safeguard against increasing cyber threats.
In community updates, the board announced the first-ever Veterans Day parade on November 9th and confirmed the date for the Halloween parade organized by the firefighters’ association. The next board meeting is scheduled for November 6th, moved from the usual Tuesday to accommodate Election Day activities.
James Kelley
City Council Officials:
Kevin A. Gaspar, Sr., Robert Hinckley, David Wojnar
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Meeting Type:
City Council
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Committee:
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Meeting Date:
10/22/2024
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Recording Published:
10/22/2024
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Duration:
86 Minutes
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Notability Score:
Routine
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State:
Massachusetts
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County:
Bristol County
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Towns:
Acushnet
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