3. How is the motor vehicle excise calculated?
The owner’s motor vehicle excise is $25 per $1000 of excise value for the calendar year.
The excise value for the year is calculated by applying the percentage fixed by G.L. c. 60A,
§ 1 to the manufacturer’s list price for vehicles of the same make, type, model, and year of
manufacture. The percentage declines over several years until it reaches 10% of that list
price in the fifth year after manufacture and all succeeding years for the life of the vehicle.
The statutory percentages are:
Excise Assessed for Percentage
Year before model year 50%
Model year 90%
Second year 60%
Third year 40%
Fourth year 25%
Fifth and following years 10%
posted by Jeff Bennett
Sunday, August 14, 2016
According to annual town report of 2015, Templeton Assessors: $1 on tax rate raises $552,836.00.
Debt calculator on DLS website shows 24 million for 28 years at 3.5%, those are the numbers given at the special town meeting for the new school. The calculator shows a yearly payment of $1,358,463 or 38 million for total payback with 14 million in interest only. So how is the then stated $1.74 on the tax rate going to make that happen? According to the Assessors information, $2.00 on the tax rate raises $1,105,672.00, so where will the other 200 thousand come from? Was that some more Templeton creative math from selectmen? Selectmen serve on that committee too?
posted by Jeff Bennett
Debt calculator on DLS website shows 24 million for 28 years at 3.5%, those are the numbers given at the special town meeting for the new school. The calculator shows a yearly payment of $1,358,463 or 38 million for total payback with 14 million in interest only. So how is the then stated $1.74 on the tax rate going to make that happen? According to the Assessors information, $2.00 on the tax rate raises $1,105,672.00, so where will the other 200 thousand come from? Was that some more Templeton creative math from selectmen? Selectmen serve on that committee too?
posted by Jeff Bennett
This link should let you see the latest monthly budget versus actual for fiscal 2017 (expenses)
https://1drv.ms/b/s!Ag8wbGi1Ag0zgWXPkcYlct1yT2uB
This next link should show you the latest budget versus actual for fiscal 2017 (revenue)
https://1drv.ms/b/s!Ag8wbGi1Ag0zgWZ6BbIJgPxd49ab
The above are examples of a link. No copy, no paste any message
posted by Jeff Bennett
https://1drv.ms/b/s!Ag8wbGi1Ag0zgWXPkcYlct1yT2uB
This next link should show you the latest budget versus actual for fiscal 2017 (revenue)
https://1drv.ms/b/s!Ag8wbGi1Ag0zgWZ6BbIJgPxd49ab
The above are examples of a link. No copy, no paste any message
posted by Jeff Bennett
Massachusetts General Laws - chapter 41,
Officers and employees of cities, Towns and Districts
Section 56; Warrants for payment of bills.
As you read this, think about who should see first that there are not enough funds to pay for things such as pay raises? Could it be a complete failure of a system or lack of following an already established process? One procedure is for the accountant to produce an end of the fiscal year budget to actual report for the entire past fiscal year. This lets everyone see what was appropriated and what was actually spent. The fiscal year ended July 15, as that is the last day to do any transfers within the past fiscal year. Someone needs to be held accountable for this lapse. we already have an incomplete annual town report for 2015. Audits are not required to do this.
Section 56. The selectmen and all boards, committees, heads of departments and officers authorized to expend money shall approve and transmit to the town accountant as often as once each month all bills, drafts, orders and pay rolls chargeable to the respective appropriations of which they have the expenditure. Such approval shall be given only after an examination to determine that the charges are correct and that the goods, materials or services charged for were ordered and that such goods and materials were delivered and that the services were actually rendered to or for the town as the case may be; provided, however, that such approval may be given to any bill received from a state agency for the town's share of the costs of a federal urban planning assistance program, established under the provisions of section 701 of Public Law 83?560, as amended, before any goods, materials or services ordered or to be ordered under such a program have been delivered or actually rendered, as the case may be. The town accountant shall examine all such bills, drafts, orders and pay rolls, and, if found correct and approved as herein provided, shall draw a warrant upon the treasury for the payment of the same, and the treasurer shall pay no money from the treasury except upon such warrant approved by the selectmen. If there is a failure to elect or a vacancy occurs in the office of selectman, the remaining selectman or selectmen, together with the town clerk, may approve such warrant. The town accountant may disallow and refuse to approve for payment, in whole or in part, any claim as fraudulent, unlawful or excessive, and in such case he shall file with the town treasurer a written statement of the reasons for such refusal. The treasurer shall not pay any claim or bill so disallowed by the town accountant. So far as apt this section shall apply to cities.
posted by Jeff Bennett
Officers and employees of cities, Towns and Districts
Section 56; Warrants for payment of bills.
As you read this, think about who should see first that there are not enough funds to pay for things such as pay raises? Could it be a complete failure of a system or lack of following an already established process? One procedure is for the accountant to produce an end of the fiscal year budget to actual report for the entire past fiscal year. This lets everyone see what was appropriated and what was actually spent. The fiscal year ended July 15, as that is the last day to do any transfers within the past fiscal year. Someone needs to be held accountable for this lapse. we already have an incomplete annual town report for 2015. Audits are not required to do this.
Section 56. The selectmen and all boards, committees, heads of departments and officers authorized to expend money shall approve and transmit to the town accountant as often as once each month all bills, drafts, orders and pay rolls chargeable to the respective appropriations of which they have the expenditure. Such approval shall be given only after an examination to determine that the charges are correct and that the goods, materials or services charged for were ordered and that such goods and materials were delivered and that the services were actually rendered to or for the town as the case may be; provided, however, that such approval may be given to any bill received from a state agency for the town's share of the costs of a federal urban planning assistance program, established under the provisions of section 701 of Public Law 83?560, as amended, before any goods, materials or services ordered or to be ordered under such a program have been delivered or actually rendered, as the case may be. The town accountant shall examine all such bills, drafts, orders and pay rolls, and, if found correct and approved as herein provided, shall draw a warrant upon the treasury for the payment of the same, and the treasurer shall pay no money from the treasury except upon such warrant approved by the selectmen. If there is a failure to elect or a vacancy occurs in the office of selectman, the remaining selectman or selectmen, together with the town clerk, may approve such warrant. The town accountant may disallow and refuse to approve for payment, in whole or in part, any claim as fraudulent, unlawful or excessive, and in such case he shall file with the town treasurer a written statement of the reasons for such refusal. The treasurer shall not pay any claim or bill so disallowed by the town accountant. So far as apt this section shall apply to cities.
posted by Jeff Bennett
As for the school, I hope the house is packed and questions are asked. Concerning finance, how will this go, again please, so it is clear. How much will be borrowed, what will the percentage be and can we afford it? How much in interest will we be paying in addition to the principle. At this point in time, a sales pitch is not wanted, just the cold hard facts. I hope a real estate agent would not tell you that you can afford more house than you really can just to make a sale and or commission!
posted by Jeff Bennett
posted by Jeff Bennett
It may be time for Templeton to swing over to a more conservative approach when it comes to funding things. Rather than looking for every penny available, begin but pretending the funds are not there. Take new growth for instance, it is an unknown, cannot be counted on and when it is "only" 60 to 100 thousand dollars, Perhaps, just ignore that for a year or two. The same can be done with vehicle excise tax, use a very very conservative approach. Take 2013 for instance, the estimate for excise tax was $821,000.00, the actual was $813,759.00. Estimate for 2014 was $888,779.00 and the actual was $948,747.00. A much better outcome and one that probably needs to be repeated for at least two years. In a very simple example, say you make 100 thousand per year in salary, but you live as though you only make 50 thousand per year. You should be able to save substantially, have few bills and not have the worry about how to pay for this or that. It may be time for Templeton to take the same approach. Stop looking at the documents to show how much is available and start looking at what we can live without, at least for say three years and plan it that way and then things should really work the way it has been presented the past 2 1/2 years. Just a thought.
posted by Jeff Bennett
posted by Jeff Bennett
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