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 William B. Whiting
1877-1879 Charles W. Ranlet
1879 James R. Howes
1880-1884 Charles W. Ranlet
1885 E. L. Munn
1886 Oscar Ely
1887-1889 Edwin L. Munn
1890-1892 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
(413) 322-5560 Ext 5038
(413) 322-5560 Ext 5034
(413) 322-5560 Ext 5036
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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|
When a real estate tax is uncollected by the Tax Collector, an Instrument of Taking is recorded at the Registry of Deeds. That instrument effectively places a lien on the property on which the tax is unpaid and the amount of the tax is certified to the Treasurer by the Tax Collector and becomes a Tax Title account. It then becomes the responsibility of the Treasurer to collect payment of the delinquent tax or foreclose on the property. If the tax is not paid within six months a Petition to Foreclose may be filed in Land Court.
For a more detailed understanding of how a parcel enters into Tax Title and the multiple processes that may be used to resolve the Tax Title please read this Excerpt of MCTA Treasurer’s Manual (Chapter 5 Tax Titles & Foreclosures).
School Employee’s Only
Part Time/Seasonal Employee’s
|Enrollment form||Enrollment Form 403b||Enrollment Form OBRA|
|Beneficiary Designation Form||Beneficiary Designation Form 403b||General Account Fund Fact Sheet|
|Contribution Change Form|
|Salary Deferral Agreement|
How Much Can I Contribute to my 403(b) and or 457(b)?
IRS Announces 2014 Pension Plan Limitations; Taxpayers May Contribute up to $17,500 to their 401(k) plans in 2014
WASHINGTON — The Internal Revenue Service today announced cost of living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2014. Some pension limitations such as those governing 401(k) plans and IRAs will remain unchanged because the increase in the Consumer Price Index did not meet the statutory thresholds for their adjustment. However, other pension plan limitations will increase for 2014. Highlights include the following:
- The elective deferral (contribution) limit for employees who participate in 401(k), 403(b), most 457 plans, and the federal government’s Thrift Savings Plan remains unchanged at $17,500.
- The catch-up contribution limit for employees aged 50 and over who participate in 401(k), 403(b), most 457 plans, and the federal government’s Thrift Savings Plan remains unchanged at $5,500.
- The limit on annual contributions to an Individual Retirement Arrangement (IRA) remains unchanged at $5,500. The additional catch-up contribution limit for individuals aged 50 and over is not subject to an annual cost-of-living adjustment and remains $1,000.
For more detail information click on this PDF. How Much Can I Contribute?
Have you noticed that your Net Pay has changed?
Here is the reason why. During the course of the year the Commonwealth allows for the first $2,000 contributed to Social Security (FICA), Medicare, Massachusetts, United States or Railroad Retirement systems to be exempt from the States 5.25% Tax.
Once you’re total withholding’s for these reaches $2,000 we are required to discontinue the exemption and tax the full amount.
For more information on the deduction please refer to Massachusetts Circular M, page 12. As always should you have any questions please don’t hesitate to contact this office.
536 Dwight Street
Holyoke, MA 01040-5019 Map
(413) 322-5561 (fax)
8:30 am - 4:30 pm
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Posted on December 27, 2012 by Jon Lumbra