Mayor Alex B. Morse Presents Budget of $123.6 Million Text Size
Mayor Alex Morse presented the City Council with a proposed budget to run the city in the fiscal year that begins July 1, 2013. The $123.6 million spending plan is $740,427 less than the previous year’s proposed budget of $124.3 million.
The proposed budget is lean and conservative, as many departments will see no increases over FY13, and many will see decreases. In this budget, there are no new positions being funded, and department heads have been instructed to control spending until the end of the fiscal year in the hope of having a positive impact on next year’s free cash.
Additional savings are noticed in reduced health care costs, long-term debt service payments and grant monies received by the Fire Department to supplement salaries.
In addition, Mayor Morse says the City is in great financial shape; tax collections are up 35.26%, the bond rating has also received great marks from Moody’s. The city’s stabilization, or rainy day, fund is $11.9 million and the free-cash account is about $700,000.
For more information, please view the Masslive article including the Mayor’s complete budget proposal, and his letter sent to the City Council.
Posted on May 10, 2013 by cityadmin