Acushnet Finance Committee Grapples with Rising Health Insurance Costs Amid Budget Deliberations
- Meeting Overview:
The Acushnet Finance Committee met on May 22, 2025, to deliberate on the town’s budget, focusing heavily on rising health insurance costs and the need for a stabilization fund to manage these increases. The committee also examined departmental budgets, scrutinizing expenses and revenue projections to ensure balanced financial planning.
35:04The most prominent discussion centered around health insurance costs, which saw a substantial increase of $134,368, bringing the total to $265,789. The establishment of a health insurance stabilization fund was proposed as a proactive measure to cushion the town against these potential hikes. The committee recognized the need for such a fund, considering the volatility of health insurance rates and the impact they could have on future budgets.
33:11In addition to health insurance, the overall budget was presented at $36,988,765, balanced to meet the town’s financial needs. The committee was attentive to the impact of health insurance on the budget, noting that despite the increase, the overall budget was under projections when the library budget increase was excluded. The library budget itself was a point of discussion, as it played a role in the budget’s overall increase.
44:10Revenue projections were another focal point during the meeting. The committee decided to reduce the allowance for abatement and exemptions from $200,000 to $150,000, citing excess funds available in the overlay account. Additionally, local receipts were under scrutiny, with motor vehicle excise taxes estimated at $1.6 million—a conservative figure based on historical trends. The meals tax was also discussed, with an estimate of $100,000, though actual figures could potentially be higher.
The budget discussions extended to the debt payments, which experienced changes in principal and interest payments. A decision was made to maintain the interest costs at $61,250 until more accurate quotes were obtained. This cautious approach was indicative of the committee’s broader strategy to manage the town’s finances prudently.
15:53The committee also addressed departmental budgets, with the police department budget totaling $2,950,265. The need for additional officer positions was considered, contingent on the results of an upcoming assessment center for promotions. The fire department budget was set at $1,211,927, with plans to address reserve funds in a future article to prevent unforeseen expenses.
11:23Other departmental budgets included the assessors’ budget, which increased slightly to $189,496 due to necessary software updates. The town clerk’s budget of $162,486 saw a notable change with the removal of an annual salary adjustment for the elected official, sparking some discussion about salary adjustments for elected officials. The board of registrars’ budget decreased to $25,826, aligning with a general reduction in election-related expenses.
55:08The committee also evaluated the sewer and golf enterprise funds, incorporating indirect costs to enhance transparency about the services’ actual costs. The sewer budget was pending verification of revenues and retained earnings, while the golf budget saw a slight increase due to a more detailed cost analysis, including unemployment costs for part-time employees.
22:45The committee commended the school committee and Old Colony for their budget adjustments, which included staff reductions in response to fiscal challenges. The veterans budget decreased due to efficient management by the veterans agent, who was confident in the lower estimate given a decline in expenses related to aging veterans.
James Kelley
Financial Oversight Board Officials:
Michael R. Boucher, Susan M. Delgado, Peter Benoit, Eric Chew, Robert Ferreira, Eric R. McGlynn, Robert St. Jean, Cathy Murray (Secretary)
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Meeting Type:
Financial Oversight Board
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Committee:
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Meeting Date:
05/22/2025
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Recording Published:
05/23/2025
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Duration:
65 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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