So, is there approval of anything from the MFOB to Templeton?

A history lesson for kate fulton

MUNICIPAL FINANCE OVERSIGHT BOARD 

Meeting January 18, 2017 

Approved on February 23, 2017 

MINUTES 

Board Members Present: State Auditor Suzanne Bump (Chair), Craig Stepno (Office of the State Treasurer), Margaret Hurley (Office of the Attorney General), Marie Jane Handy (Department of Revenue)

Non-Board Members Present: Marissa Szabo (Office of the State Auditor), Sophia Apostola (Office of the State Auditor), Bill Arrigal (Department of Revenue), Zack Blake (Department of Revenue), Christine Smith (Gardner News), Mary Carney (Hilltop Securities), Julie Farrell (Advisory Board member, Town of Templeton)

For the Town of Templeton: Jonathan Winiker, Henry Mason, Kate Myers, Ann-Marie Geyster, Chris Casarant, Carter Terenzini, Tony Roselli, John Caplis

The meeting was called to order at 11:02 am. Auditor Bump opened the meeting with introductions of all Board members and representatives of the Town of Templeton.

Carter Terenzini provided an overview of his background followed by an overview of the school project plan and the city’s financial situation.

Tony Roselli provided an overview of the progress his firm is making in getting the Town’s books in order. Marie Jane Handy added to this that financial records from previous year had to be reconstructed.

Margaret Hurley asked if the debt exclusion vote received the required majority in 2015 and John Caplis indicated that was the case.

Auditor Bump asked for clarification of the school project’s history and Jonathan Winiker provided an overview of the history of the project and an explanation of why it has taken so long.

Carter, Mary Carney, and Chris Casarant explained the relationship of the Narragansett Regional School District to the elementary school project in terms of funding.

Marie Jane addressed the representatives from the Town of Templeton and explained the State Qualified Bond Act and the fact that the Town does not receive enough local aid to qualify for it. Carter and Mary asserted that the project needs to move forward or it could lose MSBA funding. Furthermore, the Town simply needs bond anticipation notes and would never issue the total amount for the project.

The Board deliberated on the possibility of a modified State Qualified Bond Act request.

 Marie Jane expressed concern about what the Town’s financial statements would show once they are completed.

The Board deliberated on what other options may be available to the Town.

Margaret Hurley suggested tabling the Town’s request until the financial statements are completed for the Board to review. Carter stated that he would like the opportunity to revisit the request at a later date.

Auditor Bump permitted Julie Farrell, a concerned citizen and member of the Town’s Advisory Board to speak to the Advisory Board’s concerns about the project and funding request. Julie provided a summary of those concerns.

The Board further deliberated on other options.

Craig Stepno made a motion to table the Town’s request for 6 weeks, thereby providing time to complete the financial statements and present them to the Board at a later date.

Margaret Hurley seconded the motion.

The Board unanimously approved the motion and set the date for the next meeting with the Town for March 8th.

Approval of the minutes: On the question of the approval of the minutes from the meeting on December 19, 2016, the Board voted approval with Margaret Hurley abstaining due to her absence from that meeting.

The meeting was adjourned at 12 pm

Templeton Board of Selectmen
Town Hall, 160 Patriots Road, East Templeton
Monday, Novemver 21, 2016, 6:30 p.m.
Minutes of Meeting/Workshop

Present: Board of Selectmen: John Caplis, Diane Haley Brooks, Doug Morrison, Julie
Richard, and John Columbus; and Interim Town Administrator, Carter Terenzini.
1. The special business meeting was called to order at 6:30 p.m.
2. Pledge of Allegiance
3. Action RE: Authorizing Treasurer to File Application w/MFOB RE: Elementary
School Bond ~ Carter Terenzini explained the reason that this was needed. It provides an
insurance to the lending institution and tends to earn you a higher rating. Ms. Haley
Brooks made a motion that the Board authorize the Treasurer to file an application with
the Municipal Finance Oversight Board to be signed by the Clerk of the Board. Ms. Richard
seconded the motion. The vote was 5 yes.

So did Templeton receive anything from the MFOB?

from the archives:

TO WHOM IT MAY CONCERN: Notice is hereby given in accordance with M.G.L. c. 30A, §20, that a meeting of the Municipal Finance Oversight Board, established under Chapter 46 of the Acts of 2003, will be held at 11:00 a.m. on Wednesday, January 18, 2017 in room 230 of the State House, Boston, Massachusetts.

Town of Templeton: A Chapter 44A request for $47,563,184 in qualified bonds for the following:

• Elementary School Construction

Since my rolodex is a little slow these days and kate fulton apparently wanted to speak only about my commitment to the school and she stated she had some emails that showed I wrote a letter to the MFOB while a member of Advisory Committee, (even as Kate Fulton is a former member of the Advisory Committee, she mistakenly called it the advisory board), I thought I would share this from the archives:

From DHB FB page:

Diane Haley Brooks
Yesterday at 2:17pm · Templeton ·
Thank you Kate Fulton, a member of the Advisory Committee for this information:
Last night the advisory board voted 5 to 1 to send an email to the state Municipal Finance Oversight Board a letter bashing the elementary school project. The project is referred to as "ill-fated."
It stated that "the taxpayers were sold a bill of goods," that information given to voters "have proved to be false, as in lies." The letter was written by Julie and Peter Farrell and will be updated to include specific examples as requested by Paul Grubb. The names of five members of the committee will appear on the letter. I made it clear that my name was not to be included and Gordon Moore was not present.
I have also telephoned to Maura Healy and Deb Goldberg's office about the matter, both are on the oversight board. Let people know, make phone calls, attend the meeting, tomorrow at 11 a.m. in the state house room 230 and let the school board and selectmen know of your dismay at this interference to the elementary project. As a former newspaper reporter, I thought Fulton would have her facts straight at least.

Maybe she will read this!

just in case you missed it:

603 CMR 41.00 - Regional school district budgets.

(3)  Reconsideration of Rejected Budgets

(a)If the budget is not approved by two-thirds of the members, the regional school committee shall have 30 days from the date of disapproval by more than one-third of the members to reconsider, amend, and adopt a revised budget. With the approval of the Commissioner, this 30-day period may be extended an additional 15 days. Where the local appropriating authority is a town meeting and the annual town meeting is dissolved prior to voting on the budget, the budget shall be deemed disapproved by that member as of the date of such dissolution.

(b)The revised budget adopted by the regional school committee and the assessments corresponding to such budget may be less than, equal to, or greater than the amounts in the previously adopted budget.

(c)Within seven days following the regional school committee's adoption of a revised budget, the treasurer of the regional school district shall calculate and certify the assessment of each member and shall transmit the assessments and a copy of the revised budget to the members. Each member's local appropriating authority shall have 45 days from the date of the regional school committee's vote to meet and consider the revised budget.

(d)The approval of a revised budget shall be as set forth in 603 CMR 41.05(2)(a). If a local appropriating authority does not vote on the revised budget within the 45-day period, that member shall be deemed to have approved the revised budget.

(e)In a regional school district comprised of three or more members, if the revised budget is not approved, the regional school committee shall again reconsider, amend, and adopt a revised budget. The revised budget shall be resubmitted to the members pursuant to the provisions of 603 CMR 41.05(3).

(f)In a regional school district comprised of two members, if the revised budget is not approved by both members, the regional school committee shall again reconsider, amend, and adopt a revised budget and shall convene a district-wide meeting, at which the revised budget shall be placed before all voters eligible to vote at said meeting. If a majority of voters at this district-wide meeting votes to approve the revised budget, such vote shall constitute approval. If a majority of voters at this meeting votes to approve a greater or lesser amount for the budget, such amount shall be placed before the regional school committee for its ratification. If the regional school committee by a two-thirds vote ratifies this amount, it shall constitute approval. If the regional school committee rejects such greater or lesser amount, it shall again reconsider, amend, and adopt a revised budget and shall reconvene a district-wide meeting pursuant to the provisions of 603 CMR 41.05(3)(f).

(g)A district-wide meeting convened in accordance with 603 CMR 41.05(3)(f) shall only consider budgets based on the statutory assessment method.

(h)A regional school committee may reconsider, amend, and adopt a revised budget at any time prior to the approval of a previously adopted budget.

(i)If a local appropriating authority votes to approve an adopted budget subsequent to the required date for such action but prior to the regional school committee's revision of the budget, such vote shall be deemed valid.

(j)Whenever a member's assessment is reduced to a smaller amount than previously appropriated by the local appropriating authority, that appropriation shall automatically be reduced to the lesser amount.

(4)  Establishment of Budgets by the Commissioner

(a)If the operating budget for a regional school district has not been approved by July 1, the superintendent of schools shall notify the Commissioner, and the Commissioner shall establish an interim monthly budget for the regional school district. The interim monthly budget shall be one-twelfth of the regional school district's budget for the prior fiscal year or such higher amount as the Commissioner may determine. The interim monthly budget shall remain in effect until an operating budget is approved pursuant to 603 CMR 41.05(3) or December 1, whichever comes earlier.

(b)If a regional school district's budget has not been approved by December 1 of the fiscal year, the Commissioner shall assume fiscal control of the regional school district pursuant to M.G.L. c.71, §16B, and 603 CMR 41.07, and shall establish the final budget for the fiscal year.

(c)Whenever the Commissioner establishes an interim or final budget for a regional school district under the provisions of this section, the treasurer of the regional school district shall calculate and certify to the members their respective assessments. Every member shall pay its respective assessment in accordance with the payment schedule in the regional agreement. The appropriation of funds to pay an assessment ordered by the Commissioner under 603 CMR 41.05(4) shall not be deemed approval by the municipality of the district's budget.