The city treasurer is an elective position that has a term of four years. The city treasurer provides a direct voice of the people regarding the management of all cash and all invested public funds. In general, the treasurer's office provides banking and investment services with minimum service cost and maximum yield on investments.
The office of the Treasurer is responsible for receipt, accurate accounting, disbursement of all funds both public and trust accounts, and prudent investment of all City funds in order to maximize yields while maintaining adequate liquidity. The Treasurer’s office receives all monies which come into the city, pays all bills, including payroll; is responsible for the administration of employee health and life insurance programs; works with the Assessor's, Tax Collector, and City Auditor’s departments to ensure the smooth and efficient operation of the City’s finances.
In addition, the Treasurer is responsible for investing the City’s funds in accordance with guidelines imposed by Ch. 44, Sec. 55, of Massachusetts General Laws. The Treasurer executes all short and long-term borrowing which the Mayor has authorized, with approval of the City Council.
The Treasurer manages the City’s property, which is in Tax Title or Foreclosure. The Treasurers Office places all outstanding taxes on agreements to be paid in a timely manner, if payments are not made or no agreement can be reached, a foreclosure process is done. Delinquent property is turned over to the Treasurer annually, when the Tax Collector does a tax taking; i.e., puts a lien on the property.
By virtue of the office the City Treasurer is also the Treasurer of the Holyoke Retirement Board, Holyoke Gas & Electric, and the Whiting Street Fund.
For a more detailed understanding of the Duties and Responsibilities of the Treasurer please read this Excerpt of MCTA Treasurer (Chapter 2 Duties & Responsibilities of the City Treasurer)
Treasurer’s of Holyoke
1850 John M. Chapin
1851-1852 Henry S. Babbit
1852-1866 Gustavus Snow (combined with Town Clerk)
1867-1868 E. H. Flagg (combined with Town Clerk)
1869-1871 Robert B. Johnson
1872-1873 Charles W. Ranlet
1873-1876 Charles W. Ranlet
1876-1877 Hon William B. Whiting
1877-1879 Charles W. Ranlet
1879 James R. Howes
1880-1884 Charles W. Ranlet
1885 Edwin L. Munn
1886 Oscar Ely
1887-1889 Edwin L. Munn
1890-1892 Hon Dennie L. Farr
1893-1931 Pierre Bonvouloir
1931-1943 Lionel Bonvouloir
1944-1972 Joseph Lucey
1972 Rita M. Leary
1973 Anne E. Savacheck
1974-1988 Daniel R. Owens
1988-2009 David B. Donoghue
2010- Jon D. Lumbra (Current Treasurer)
(413) 322-5560 Ext 5037
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On at least an annual basis, the City issues debt to finance capital projects, including streets, schools, storm-water, water utility, sanitary sewer, and power utility. In connection with the City’s most recent borrowing, the City requested a rating from Moody’s Investors Service. Moody’s assigned a rating of A1 to the City’s debt. The Moody’s rating report indicates the rating reflects the City’s sizable, diverse and affluent tax base, strong financial position, and low debt levels. A copy of the Moody’s credit report can be reviewed on below.
|City Bond Rating:||Long Term Debt Issued:|
|Moody’s Bond Rating||City Long Term Debt (Paid off in FY2032)|
|S&P A+(SPUR) Rating||School Long Term Debt (Paid off in FY2032)|
|Water Long Term Debt (Paid off in FY2018)|
|Sewer Long Term (Paid off in FY2037)|
|Preliminary Official Statement:||HG&E Long Term Debt (Paid off in FY2031)|
|2013-06-28 Holyoke POS||
|Sort Term Debt Issued:|
|Statement of Indebtedness:|
|Short Term Debt as of 06 30 2013|
|2013 As reported to DOR|
536 Dwight Street
Holyoke, MA 01040-5019 Map
(413) 322-5561 (fax)
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Posted on December 27, 2012 by Jon Lumbra