FRAMINGHAM – Mayor Yvonne Spicer announced a financial summit will be held on Wednesday, March 14, this evening, March 12 just after 6 p.m.
The Mayor had requested an extension to that date as her chief financial officer would be on vacation. In January. the City Council voted unanimously to hold the financial summit on or before Tuesday, March 13.
City Council Chair Dennis Giombetti said the Council wanted the summit to hear a financial overview on the City of Framingham, including projected revenue and projected expenses for Fiscal Year 2019.
The summit will be held in Nevins Hall at 7 p.m. on Wednesday, March 14.
“Members of the City Council and School Committee will attend this presentation, arranged by the City’s Chief Financial Officer, Mary Ellen Kelley,” said the Mayor’s office in a media release.
“The goal of the summit will be to educate stakeholders about the processes of municipal finance by providing a brief history of revenues, expenditures, capital investment and property tax burden. In addition it will offer insight into the revenue and expenditure parameters for the FY2019 budget that will formally be presented to the City Council in May 2018. There will also be a demonstration of the City’s Financial Transparency Center program, an online resource available for the purpose of organizing and viewing relevant financial data and statistics pertaining to the City,” said the media release.
Residents are also invited and encouraged to attend this meeting.
UPDATED 6 a.m. Tuesday – City of Framingham announced city offices were closed today, except for essential employees.
The summit would allow the City Council, the School Committee and the community to have a better understanding of the numbers, said Giombetti, in January.
The fiscal year begins on July 1, 2018.
Now, the City of Framingham School Committee will submit a budget to the Mayor, to be included in her budget to submit to the 11-member City Council.
Per the Charter, the “budget message of the Mayor shall explain the budget for all municipal agencies both in fiscal terms and in terms of work programs. It shall outline proposed financial policies of the municipality for the ensuing fiscal year, describe important features of the budget, indicate any major variations from the current fiscal year in financial policies, expenditures and revenues together with the reasons for these changes, summarize the municipality’s debt position and include other material that the Mayor considers desirable, or that may be required by the provisions of a municipal ordinance.”
The Mayor’s proposed budget shall “show in detail all estimated income from the proposed property tax levy and from all other sources and all proposed expenditures, including debt service, for the fiscal year. The budget shall be arranged to show the actual income and expenditures for the previous three fiscal years and the estimated income and expenditures for the current and ensuing fiscal years.”
Per the Charter, a public hearing shall be held by the City Council subcommittee on Finance, chaired by at-large City Councilor George King. The Finance subcommittee shall hold a public hearing on the proposed operating budget, providing no less than 10 days. That subcommittee will thoroughly review the budget making a presentation and recommendation to the full council within 21 days.
The Council shall consider the budget in open public meetings after the Mayor and Finance subcommittee make presentations to the full council.
Per the Charter, the Council “shall adopt the budget, with or without amendments, within 21 days after the day the proposed budget was reported out by its Finance
The Council “may delete or decrease any programs or amounts except expenditures required by law, or for debt service, but, the Council shall have no authority to add programs or increase amounts except as provided by the general laws,” per the Charter.
“If the Council fails to take any action with respect to any item in the proposed budget within the 21-day period that amount shall, without any action by the council, become a part of the appropriations for the ensuing fiscal year and shall be available for the purposes specified,” according to the Charter.
The vote to approve the budget, or any amendments thereto, shall be on a roll call vote, as required by the Charter.