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Category: Finance

Upcoming Anticipated Paving Schedule for 2024

Chapter 90 funds from the Commonwealth of Massachusetts is the source of funding Cities and Towns use to improve and maintain publicly accepted roads. The order of roads to be improved have been identified through our City’s pavement management system that rates the conditions of roads, usage, and determines the order of priority for repair. … Continued

FY25 Budget Planning Process Has Begun

The new budget preparation season is here! A memo to all departments with instructions for the FY25 budget planning process were distributed. While departments work on their first draft budget requests, I have been meeting one-on-one with City Councilors to go over their objectives and priorities. Their input helps me identify what some of the shared … Continued

New middle school qualifies for supplemental grant funding

The Massachusetts School Building Authority (MSBA) recently notified Holyoke officials that they will provide additional reimbursement for the new middle school construction project. The Owner’s Project Manager (Anser Advisory) has estimated the additional funding will be approximately $11.7 million, which would bring the MSBA’s total contribution to an estimated $57.6 million. This would reduce the … Continued

Mayor’s Proposed FY24 Supplemental Budget

The following is a proposed supplemental budget for FY24 on its way to the City Council for approval (note: these figures are subject to change until final vote of the City Council). Proposed FY24 Supplemental Budget Consolidated Budget Workbook The updated figures are based on current revenue and expense projections to-date including revenue figures from … Continued

Statement from Holyoke Mayor Joshua A. Garcia regarding CSO consent decree

Statement from Holyoke Mayor Joshua A. Garcia regarding Combined Sewer Overflow (CSO) consent decree: A new federal court judgment reduces the Holyoke sewer construction costs from over $170 million in the original partial consent decree to $35 million through 2035. This was a true team effort that allowed the city to effectively make its case … Continued

Holyoke’s Fiscal Health Narrative – Mayor

It’s been about 1 year and 8 months since I took office as Holyoke’s mayor. When I sought office, I had a dollars-and-cents ambition: to strengthen internal controls and better manage our municipal finances. I strongly believed— and still do — that if we cultivate a culture of responsible management, face-to-face communication, and a commitment … Continued

Mayor’s State of the City Speech

On May 16, 2023, Mayor Garcia delivered to the City Council a State of the City presentation along with the proposed FY24 City Budget. The technical summary and the workbook documents of the City Budget can be found here: https://www.holyoke.org/mayors-proposed-fy24-city-budget/ The following is the full text of the Mayor’s State of the City speech – … Continued

Mayor’s Proposed FY24 City Budget

The following is a snapshot overview of the FY24 proposed budget in detail (note: these are subject to change between now and June 30, 2023): FY24 Holyoke Consolidated Budget Workbook  FY24 Proposed Working Budget Detailed This budget is based on what we understand to be our revenue and expense projections and a fairly balanced understanding … Continued

Standard and Poor’s (S&P) Affirms A+ Bond Rating for Holyoke, credits Holyoke’s strong budgetary performance

Citing Holyoke’s strong budgetary performance, liquidity and institutional framework as positive credit factors, Standard & Poor’s (S&P) Ratings Services, a municipal credit rating agency, has affirmed its A+ underlying rating on the City’s long-term debt. “This is a significant financial achievement for the City of Holyoke,” Mayor Joshua A. Garcia said. “Not only because of … Continued

FY24 Budget Planning process has begun

The new budget preparation season is here! Department Heads were sent instructions for preparing their anticipated budget needs for the next fiscal year. Their completed budget will be a primary source for the preparation of our entire City budget. The Auditor is working with the City Treasurer to update revenue receipts so we can forecast … Continued

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