Acushnet Board Tackles Budget Deficit; Considers Creative Financing
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Meeting Type:
City Council
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Meeting Date:
04/22/2024
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Recording Published:
04/22/2024
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Duration:
16 Minutes
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Towns:
Acushnet
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County:
Bristol County
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State:
Massachusetts
- Meeting Overview:
The Acushnet Board of Selectmen meeting focused on addressing a budget deficit exceeding one million dollars and exploring various approaches to manage town finances for the fiscal year 2024-25. Key discussions revolved around potential cuts in larger department budgets, strategies for reducing the deficit, and creative financing options, including the handling of a lease agreement with Old Colony and the possibility of a meal tax to secure future revenues.
During the meeting, members of the board approved flat or increased funding for several department budgets due to contractual obligations or increased operational costs. For instance, the Forestry budget saw an increase of $5,500 to address the removal of dead trees, while the Recreation and Historical Commission budgets were raised due to energy cost hikes. Meanwhile, the Trash budget increased by $71,200, primarily due to a contractual fuel surcharge.
The board highlighted the importance of scrutinizing larger budgets for potential savings, given the substantial deficit and the significant increase in public safety spending from contract negotiations. The Town Administrator and the board emphasized the need to maintain fiscal responsibility and avoid excessive spending that could lead to higher taxation in the following year.
There was also a discussion about a revolving fund for soil previously established and the continuation of this initiative in the new warrant. Additionally, the topic of creative financing surfaced, including a proposal to address the budget deficit by utilizing a one-time funding source to offset an upcoming lease expiration with Old Colony, which could reduce the deficit by approximately 10%.
Other finance-related topics included the potential to retire school debt early, the consideration of a meals tax as a future revenue stream, and the importance of looking ahead with a multi-year financial outlook. The board expressed a commitment to present a balanced budget to the town meeting, with further budget discussions slated for the next meeting on April 30th.
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:
04/22/2024
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Recording Published:
04/22/2024
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Duration:
16 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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