ORDER-2024-30 : Acceptance of the provisions of Chapter 44, § 53F½ of the Massachusetts General Laws to establish a separate account classified as an “Enterprise Fund” for the deposit of fee revenue generated related to solid waste and recycling collection and disposal costs, effective the start of Fiscal Year 25, on July 1, 2024.

Transcript (~2 min @ 7:02)

Speakers identified by voice; unnamed voices are numbered within this recording. Auto-caption text — verify against the video.

▶ 6:53 Ryan Williams: Um, assume folks are gonna stay in their seats 'cause we're gonna move right on to the next one, which is order number 2024 dash 30, uh, acceptance of the provisions of Chapter 44.

▶ 7:06 Ryan Williams: Chapter 53 f and a half. mm-Hmm. Okay. Of the Massachusetts General Laws to establish a separate account classified as an enterprise fund for the deposit of fee revenue generated related to solid waste and recycling collection and disposal costs effective the start of fiscal year 25 on July 1st, 2024.

▶ 7:28 Speaker 3: Great. Um, so tonight, this order before you is to establish an enterprise fund for solid waste and recycling under section of section of Mass General Law. Chapter 44, section 53 f and a half communities may establish a separate, separate financial accounting and reporting for municipal service for which a fee is charged in exchange for goods and services. Um, so currently the city operates for enterprise funds, water, sewer, mount, hood, and ambulance. Um, so this allows you to account for all the fees in a separate fund, um, and demonstrate the total cost of the service to, um, constituents. So it would allow for more transparency, um, and the revenues and would remain within the fund. And at the end of the year, it goes through the same process as, um, the other enterprise funds where their, um, they're, uh, they would certify the DOR would certify the balance in the fund at the end of the fiscal year and free cash and any money related to the program remains with the program. So that's also a benefit of this fund as well.

▶ 8:43 Speaker 1: Any questions? Any voting members? Okay, counselor.

▶ 8:50 Ryan Williams: Pinocchio. Pinocchio. Thank

▶ 8:51 Cal Finocchiaro: You. This might be a dumb question, but will this be a separate bill that the residents receive or will it show up on?

▶ 8:57 Speaker 3: No, it will still remain. Right now that fee is charged on your water and sewer bill, so it will remain on that.

▶ 9:04 Speaker 2: Okay. I know some people are asking that, so I didn't know if that changed anything.

▶ 9:06 Speaker 3: Yes. No, we're remain there. Thank you.

▶ 9:12 Ryan Williams: Okay. Any other questions? Any Motion? What's the role of the committee? Motion To recommend A Motion to recommend by Councilor Romanul. Second. Seconded by President ler MS. Role,

▶ 9:25 Speaker 3: Vice Chair Romanul? Yes. Councillor Jamine? Yes. Councilor Vandiver?