Finance Committee Meeting 2/25/19 Text Size
Event takes place on February 25, 2019 at 6:30 PM
Holyoke City Hall: Council Chambers
Notice of Committee Meeting
There will be a regular meeting of the Committee on
At City Hall in the Council Chamber, on Monday February 25th 2019 at 6:30pm
Per order of the Chair: Joe McGiverin
Item 1: Collective Bargaining Agreement with Local 1459: DPW
Item 2: McGiverin 2/5/19: Ordered, that there be and is hereby appropriated by transfer in the fiscal year 2019, TWO THOUSAND THREE HUNDRED AND 00/100 Dollars ($2,300.00) as follows:
11511-51101 PAY-SOLICITOR $2,300.00
11512-53010 SPECIAL COUNSEL SERVICES $2300.00
Item 3: McGiverin 2/5/19: Ordered, that there be and is hereby appropriated by transfer in the fiscal year 2019, ONE HUNDRED THOUSAND AND 00/100 Dollars ($100,000.00) as follows:
11452-57950 LAND TAKINGS & EASEMENTS $100,000.00
11512-53010 SPECIAL COUNSEL SERVICES $80,000.00
19412-57630 CLAIMS 15,000.00
11512-57600 LITIGATION 5,000.00
Item 4: McGee 12/4/18: Ordered that the City invite in Matt Andre to discuss the DOR letter attached
Item 5: Order: that the following actions take place to strengthen the financial condition of our City as per recommendations by our financial advisor Cinder McNerney:
-That a debt management stabilization fund be established.
-That a financial plan to improve the bond rating from A+ to AA be established
-That a minimum of 10% of the budget be maintained in the stabilization fund with a goal of increasing the fund to 15% of the budget prior to funds being used from the fund for other than emergency purposes.
Item 6: Vacon 2/5/19: Ordered that our Auditor report to City Council on a quarterly basis ( or more frequently if needed ) on the financial status of our city, including but not limited to total debt and debt expense, bond rating, revenue and cash projections and updates on any financial plan development as recommended by Cinder, our financial consultant.
Item 7: McGiverin 2/19/19: Ordered, that in accordance with M.G.L. Chapter 44 Sec. 53A, the City Council hereby accepts the provisions of the “Veterans’ Heritage Grant Program” grant and authorizes the establishment of a Fund or other method appropriate for the accounting of the receipts and expenditures of all resources associated with the administration of said grant.
Administrative Assistant: Ryan M. Allen
The listing of matters are those reasonably anticipated by the chair which may be discussed at the meeting. Not all items listed may in fact be discussed and other items may also be brought up for discussion to the extent permitted by law.
Posted on February 21, 2019 by allenr