2022, Templeton has received $1,168,088.00 in so called free cash (technically undesignated funds) that come from a variety of sources, Town financial management policy states so much of that money is to go into several funds and that request is on warrant for November 2,2022. There is 700 hundred thousand left over, with 100 thousand being asked for to create and pay for a grant writer and some more money for tax title,, leaving approximately 600 thousand dollars available and all that is being asked for is 2500 bucks for demolition fund? Are you kidding me, what building can be demoed for 2500 bucks/ Think 10 Pleasant Street is coming down for that amount? Think it is coming down for 50 grand? The demo fund needs money to take care of any town owned buildings that need to come down or any damaged building that is an immediate hazard. Surely 100 grand from the available 600 thousand can be put into a fund to benefit residents. How much of that 600 thousand do you think will go to rebuilding roads in town? Since 2017, the town has had around 7 million dollars in free cash, averaging one million plus each of those years, the money has gone to town savings, raises for town employees, covering operating budgets, positions, toys for town employees, but how much has gone to rebuild roads? There is approximately 600 thousand dollars sitting on the books (one can see this information under the agenda for the next select board meeting on Wednesday, October 26, 2022 under finance report.) There is money that has been sitting there since 2019 that was appropriated for such things as security cameras for town hall. Certainly, it would be a benefit to residents to put enough money into demolition fund so something could actually be done to benefit those residents, especially in the area of 10Pleasant Street. Let us amend this article and properly fund it! It is actually quite simple to amend the article, so let's do it.
I've got a question for the Town.
ReplyDeleteHow do we think this will work................Inflation is at 8% which roughly means costs will increase yr over yr by a multiple of 108% on average.
Town Budget fy 23 $9,945,395 x 1.08% =$10,750,747 which is a difference of $805, 352
So $805,352 amounts to the expected increase in the 2024 Town budget based solely on inflation.
The States Cherry Sheet shows an increase to Templeton of $104,698 for town.
Leaving the Town $700,654 unfunded to maintain this years services as they are.
The School is a little different, scarier if you will.
The school total GF budget in fy 23 was $20,947,994 x 1.08 = $22 623 833 leaving a difference of $1 675 839.
The Districts Cherry Sheet increase is $678,995 which leaves $996 844 unfunded
Just as a potential warning we need to be prepared for the problem our administration has placed us in.
We are looking at a potential $1 697 498 shortfall in our overall budget just due to inflation which our Administration did not plan for or understand.
These are the "Out Years" you were warned about. These are the out years in which our Administration will show just how ignorant they were and are to budgeting.
If you notice. The amount of this years "shortage" based solely on 8% inflation will absolutely wipe out our Stabilization account we saved for 5 years...............gone, over, fat lady singing.........
Enjoy!