Re: Templeton Re-Cap From: Fred Aponte (faponte@harvard.ma.us) This sender is in your contact list. Sent: Thu 12/19/13 8:38 PM To: towncoordinator@templeton1.org; treasurer@templeton1.org; 185wilberdr@gmail.com; jpb01468@comcast.net; dougmorrisonma@gmail.com; kcrobinson7@gmail.com; templetonadvisoryboard@gmail.com; j_farrell@hotmail.com All, We have all been trying to figure out how the town is having the issue regarding the budget and the recap. Jeff Ritter pointed out to me the FY12 budget in relation to revenue. The FY12 budget used $686,628 of Free Cash and $212,126 of Stabilization funds in order to balance the budget. As you probably remember the Accounting Consultant Matt Angel at last Friday's Selectmen meeting mentioned that if the town continues to use one time funds (Free Cash, Stabilization) the town’s money concerns will never be fixed. After a little research it is quite clear that the use of one time funds Free Cash, Stabilization have been used for a number of years. After examining the tax recaps for FY02 through FY12 with the exception of FY05, Free Cash and Stabilization have been used as a funding source every year through FY12. The recap in the state’s Gateway system only has records back to 2002. The recap in the State's Gateway system has records back to 2002.
Free$Cash Stabiliza:on
2002
2003
2004
2005
2006
220,403.00
377,582.04
143,493.00
0.00
582,421.00
39,392.64
118,190.45
24,468.00
0.00
27,963.00
FY07$Free$Cash$used$784,151.00$$$$$$$$$$Gen$Fund$Budget$4,064,358.00 FY08$Free$Cash$used$403,637.00$$$$$$$$$$Gen$Fund$Budget$3,686,661.00 FY09$Free$Cash$used$665,959.00$$$$$$$$$$Gen$Fund$Budget$4,883,566.00 FY10$Free$Cash$used$882,486.00$$$$$$$$$$Gen$Fund$Budget$5,160,573.00 FY11$Free$Cash$used$380,007.00$$$$$$$$$$Gen$Fund$Budget$5,101,816.00 FY12$Free$Cash$used$686,628.00$$$$$$$$$$Gen$Fund$Budget$5,277,527.00 FY13$Free$Cash$used$189,081.00$$$$$$$$$$Gen$Fund$Budget$4,627,447.00…12%$reduc*on$from$FY12 The Town Clerk’s certified town meeting minutes for ATMs has similar language for authorizing the use of Free Cash. It is generally the last article. As you can see the funds are used to balance the budget and not for other items. To see if the Town will vote to appropriate from available funds in the Treasury, a sum of money to be used by the Board of Assessors in fixing the tax rate to meet appropriations made for the fiscal year ending June 30, 2007 or take any other action relative thereto. On a motion duly made and seconded the Town voted to Appropriate from Certified Free Cash the sum of Seven Hundred Eighty Four Thousand, One Hundred Fifty-One Dollars ($784,151.00) to be used by
the Board of Assessors in fixing the tax rate to meet appropriations made for the fiscal year ending June 30, 2007. Obviously knowing why this has happened doesn't fix the current problem but should help for future budget years. The real question is, who made the decision to use Free Cash, former Town Accountant, past administration, past Select Boards? Again, it doesn't fix the problem but should shed some light on the budget process and the fact that more people should be involved and have input. Thanks Fred Aponte Accounting