Saturday, September 1, 2018

Consider an under ride vote on tax levy??

What is an Under ride?
Proposition 2 1/2 allows a community to reduce its levy limit by passing an under ride. When an under ride is
passed, the levy limit for the year is calculated by subtracting the amount of the under ride. The under ride results in a permanent decrease in the levy limit of a community because it reduces the base upon which levy limits are calculated for future years.
A majority vote of a community’s selectmen, or town or city council (with the mayor’s approval if required by law) allows an under ride question to be placed on the ballot. An under ride question may also be placed on the ballot by the people using a local initiative procedure, if one is provided by law. Under ride questions must state a dollar amount and require a majority vote of approval by the electorate.

With around one million dollars in so called "free cash" in 2017 and stated estimates of around eight thousand dollars left from FY 2018, perhaps it is time for an under ride for Templeton.

Free cash is a revenue source that results from the calculation, as of July 1, of a community's remaining, unrestricted funds from its operations of the previous fiscal year based on the balance sheet as of June 30. It typically includes actual receipts in excess of revenue estimates and unspent amounts in departmental budget line items for the year just ended, plus unexpended free cash from the previous year. Free cash is offset by property tax receivables and certain deficits, and as a result, can be a negative number.

The Bureau of Accounts (BOA) certifies free cash as of July 1 after the submission of the municipality's balance sheet. Updates to free cash must also be certified by the Director of Accounts. These certifications can only be appropriated from the date of certification through June 30. As of each July 1, a municipality's free cash available for appropriation is $0 until a new balance sheet is received and a new free cash amount is certified.

If selectmen cannot or will not ensure that taxpayer/voter's wishes, per their votes at town meeting, are carried out, then selectmen should have less funding available to them for budget planning.
When something is presented and voted on, selectmen should ensure it happens; when selectmen fail to do this, then steps need to be taken to show selectmen who is really in charge: the residents!