APPRO-2023-28 : Fiscal 2024 Operating Budget in the amount of $101,173,341 (one hundred and one million, one hundred seventy-three thousand, three hundred forty-one dollars and 00/100 cents)

Transcript (~40 min @ 14:55)

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

▶ 14:54 Speaker 1: Yes. Councilor Stewart? Yes. Councilor Chetty? Yes. Councilor Bruski. Yes. President Grigoraitis? Yes. And Chair Elli? Yes. That's eight. Yes. Unanimous as well.

▶ 15:05 Leila Migliorelli: The rules now suspended. First on our agenda tonight is appropriation 2023 dash 28, fiscal 2024 operating budget in the amount of $101,173,341. First up tonight we have the treasurer, treasurer and collector's office with treasurer Catherine Armada.

▶ 15:30 Speaker 5: Welcome. Welcome.

▶ 15:37 Speaker 5: Uh, one question. Andrew, were you going to be putting up the PowerPoint? Yes,

▶ 15:41 Speaker 1: I'm working on that right now.

▶ 16:26 Speaker 5: Sorry for the delay. Uh, good evening, chair Elli and members of the committee. I'm pleased to be here tonight to present the budgets of the treasurer collector, the parking department, the city sheriff of Medicare, and the three debt budgets. Uh, since there are multiple budgets, I'd be happy to respond to questions after each individual budget presentation. Mm-hmm. Okay. Rather than waiting till the end, um, just put a brief presentation together, um, for an overview of the departments, and, um, then I'll move on to the budgets. Uh, the mission of the treasurer collector department is to officially collect monies owed or contributed to the city, and provide the city with a system of prudent monetary controls. These controls ensure the safeguarding of the collected and invested funds for the citizens of the city. To provide a brief overview of the team, there are six of us. We have three collectors, uh, one for each ducks excise real estate and water and sewer. We have a parking and treasury clerk, which is a split role. The assistant treasurer and me, the parking and treasury clerk's position is paid from two separate budgets. Six and a half hours of her salary come from the parking budget. The remaining 23 and a half hours are from the treasurer collector's budget at this time, we're fully staffed and we have no intention of expanding the team.

▶ 17:55 Speaker 5: The services we provide are start to finish of collecting funds, managing the funds, and ensuring that cash is available to the city to fund city expenses. The collectors are the customer facing, uh, team and behind the scenes they problem solve with banking institutions. Our processing partners interact with law firms and they work with the city hall, various city hall departments, particularly the water department and the assessor's department on issues. The treasury side of the operation is responsible for accounting for what is collected throughout the city. She processes all the payrolls for city and schools. Uh, we do managing banking relationships, government reporting debt, debt issuance, and in investment of the various investment trusts. The treasurer and parking clerk is a split rule. Uh, the clerk manages the parking program and she also acts as backup to the collector's area. And she also processes payroll deduction changes and is training up to be a payroll processing backup as well.

▶ 19:11 Speaker 5: What are you doing to me, Andrew?

▶ 19:19 Speaker 5: Okay. Um, the next slide was on, on the goals. So we set out all of our goals that we, um, established as fiscal 23. I had listed a number of them on the page, but the highlights that I wanted to point out are, um, we decreased the c monthly audit fees by over 50% of her time in the office, which is a significant decrease going forward. Uh, that was because of the implementation, implementation of the managed cash management module. We adjust 20 years of aged receivables for personal property taxes. Um, and we'll be working with the assessor and the auditors, um, to finalize that. This year we worked with D P W to implement a water assistance program through Boston, A B C D. Uh, the program assists qualified community members with funding of overdue water bills and in providing payments for towards future bills. The program, I believe, ends in September, and we recently learned that it did not get funding for last for next year through the state. So it was positive to the people that it impacted in the community, but it was very short lived. And then finally, we conducted an analysis of the overnight parking rates that we charge and parking rates at the train stations relative to everybody else on the train lines, north and southeast west. Uh, we made our rec, uh, we presented our recommendations to the traffic commission and all but one was accepted. So now we have a tiered overnight parking rate, which we feel is much more fair and an increase in the parking lots at the st train stations to $5 a day onto the budgets.

▶ 21:08 Speaker 5: Um, you do have the budgets in your machines, okay? Mm-hmm. Uh, treasurer collector budget 1 45 is 512,335 or 4%, 4.7% higher than fiscal 23. All the departmental costs are primarily driven by processing volume. Contractual salary increases postage and maintenance of machinery. The increases in the budget are primarily due to items. One is postage, postage factors in elections and increase in postal rates. And, um, we anticipate a higher volume from the city clerk's office next year, which I believe Kristen mentioned in her presentation. Uh, salaries also increase. These are due to your usual colas and step ups. Uh, there is also funding for six months of the year for the collector's department to move from 30 hours to 35 hours. Reductions include, um, eliminating the bank line for the, um, line item for the bank fees. Uh, one interest rates are up, but prior to that, when interest rates were still down, um, we sat down with our banking partner and came to an agreement that lockbox fees would be absorbed, uh, under any interest rate environment. And I've also spoken with several departments internally so that things like, um, health insurance coverage mailings at the end of the year can go through interoffice rather than spending 66 cents on postage. It all adds up. So we're trying to cut where we can. And as stated in my memo, the printing and professional services variances, which look very large on, on the screen, are they just offset each other. It was a miss booking of professional services, um, with one of our partners. And going forward, printing is just going to be for paper advertisements while our billing and collections partner will be defined under professional services. Um, I'd be happy to entertain any questions on the treasure collector's budget.

▶ 23:18 Speaker 4: Thank you. This was very helpful. Uh, questions from counselors? Councilor

▶ 23:23 Speaker 1: Stewart. Thank you, Madam Chair, Megan, Ms.

▶ 23:25 Robb Stewart: Automotive for being here this evening. Appreciate it. Um, the, the Boston A B C D, that's, I find that interesting. What, what was the amount of revenue that that contributed?

▶ 23:35 Speaker 5: It did, it didn't contribute revenue that that program helped, um, community members with their water bills.

▶ 23:42 Robb Stewart: Right. But I guess maybe I'm not stating it correctly. How much did it offset? Like what, what was their contribution?

▶ 23:50 Speaker 5: Their, um, it wasn't as large as we wanted. We were hoping the next year would ramp up. We learned about it late, so it's, um, several thousand dollars in arrears, maybe $9,000, $6,000. And then they are still calculating on some of the payments for people who are not in arrears, but they qualify for assistance for future bills. So we don't actually have the checks in yet. Okay. Um, but we are pro we've, we've gone through and done our part in auditing the information they sent us so these people can receive the assistance.

▶ 24:26 Robb Stewart: And so what other options do these people that may not be able to make their payments have?

▶ 24:32 Speaker 5: We do have payment programs, um, for water bills, but they have to make sense. Um, you have to put down a certain percentage and then promise to pay, uh, if you want to catch up on your bills or else water bills do go as a lien onto the property at the end of the year. So I don't know of any you'd, that would be probably another department to talk to about assistance other than the payment plans. Yeah. Okay. Okay. Um,

▶ 25:06 Robb Stewart: do you know how many are infected by this?

▶ 25:08 Speaker 5: Um, the original list she provided us, I think was in the sixties. Um, the, and we, they didn't, we were late coming into the game and then we found out that they were losing their funding and they took the list of the pre-approved people who had already applied for assistance under another program, say electricity, I don't know which program it was. And they said they automatically apply. So they got it automatically and then other people, um, could apply for it as well.

▶ 25:42 Speaker 1: Okay. So 60. Okay.

▶ 25:45 Speaker 5: I I can get you a firm number tomorrow.

▶ 25:50 Robb Stewart: Okay. Okay, great. Just, just a, it's a little concerning hearing that some people might not, may make the payments, but, um, thank you ma'am.

▶ 25:59 Speaker 4: Um, I just wanna note for the record, I believe councilor or vice Chair Jamal has joined online. Okay. Thank you. Um, quite any other questions? Councilor Garipay?

▶ 26:08 Mark Garipay: Yes. Thank you Madam Chair. Just, uh, one quick question. We've had some other, um, departments in front of us that also do some, uh, collections for, whether it's the police department or and D P W. Have we ever looked at merging those in under your department? Um, I know talking when they were in front of us, it takes up a lot of their time. Sounds like you're already set up your department. Have we ever looked at merging those in to free up some time for

▶ 26:33 Speaker 5: They actually have to bring their deposits to our department. Uh, nobody has a pro, so Stephanie can do her assistant treasurer work on that. Um, cuz she does the final accounting. Nobody has ever approached me on that, so, and I'm not sure about the history behind that. I could talk to, I, I think it was Kim Upton who brought that up. Okay. Okay.

▶ 26:58 Mark Garipay: I'm just throwing some, some ideas out there as we, um, you know, next year looks like, you know, might be a little tough on the budget, so just trying to throw some ideas out there right now. Thank you. Okay.

▶ 27:11 Speaker 4: Any other questions?

▶ 27:15 Speaker 4: What is the will of the committee?

▶ 27:20 Speaker 6: Motion to move the bottom line.

▶ 27:24 Speaker 8: Second.

▶ 27:25 Leila Migliorelli: Councilor Eccles Motion to move the bottom line on 1 45. Seconded by Councilor Repe. Anyone on discussion?

▶ 27:33 Speaker 4: Mr. Clerk, will you please call the roll

▶ 27:35 Speaker 1: Vice chair Jamal Dean?

▶ 27:40 Speaker 4: Yes.

▶ 27:42 Speaker 1: Councilor McMaster? Yes. Councilor Eccles? Yes. Councilor Gepe? Yes. Councilor Stewart? Yes. Councilor Chetty? Yes. Councilor Abramsky? Yes. Present Gu? Yes. And Chair Elli? Yes. That is nine. Yes. Unanimous.

▶ 28:01 Leila Migliorelli: That motion carries. Um, next up we will discuss municipal debt, which is line seven 11.

▶ 28:09 Speaker 5: Okay. Uh, I'm going to do the three debt budgets together, if that's okay. Okay. Yep. So that is, um, a municipal debt, uh, seven 11. The principle 7 51 is interest on long-term debt and 7 52 is on, uh, payments on temporary, um, temporary debt. Mm-hmm. These city, these are city obligations that have been pre-approved after vigorous diligence and upon a vote by the council when, when presented for fiscal 24, the debt obligations are, uh, budget seven 11, the principal payments 3 million 848 4 10, budget, 7 51. Interest payments on long-term debt, 1 million 2 12 9 49 and budget 7 52 payments on bond anticipation notes or the temporary debt 2 45 815. So that is a total of 5 million 3 0 7 1 7 4.

▶ 29:10 Speaker 4: Thank you. Any questions from counselors?

▶ 29:15 Robb Stewart: Councilor Stewart? Thank you Madam Chair. So to understand these numbers, this is debt on existing capital expenditures, but not anything that's projected that we may be spending next year. Is that right? This is that accurate?

▶ 29:30 Speaker 5: These are payments on existing issued debt. So if we issued a million dollar bond five years ago and we're on payment six, it's the principle and interest on that bond. Yep. And if we issued a ban and the ban is maturing within fiscal 24, it is the interest on that ban.

▶ 29:52 Robb Stewart: Okay. And so if we, if we made a, uh, if we bonded out an additional, uh, issuance for a capitalized to capitalize something,

▶ 30:08 Robb Stewart: um, would we have to then come to us and add to that? Right.

▶ 30:12 Speaker 5: Uh, only if we did it for a term that was shorter than 12 months, because then that would be a temporary, that would be a ban. And so say you did it on month, say you did a nine month ban on the second month of the fiscal year. Sure. You would have to pay that off within that same fiscal year.

▶ 30:36 Speaker 1: Okay. And so, but

▶ 30:37 Speaker 5: We take that into consideration as we're planning these bonds. I didn't mean to interrupt you, I'm sorry. No, that's okay. Okay. We, we do take that into consideration when we're working with Hilltop and our other advisors and looking at our budget and try to make sure that we're not going to, uh, cause any stress.

▶ 31:01 Robb Stewart: Good. I'd like to hear that. Um, so does that mean that when we bond something, it doesn't? So if, if we're in November or December and we, um, do a bond issuance, it really doesn't start until the next fiscal year. We don't start mid-year. Do we start at the beginning of the fiscal year? The,

▶ 31:21 Speaker 5: The majority of the time we, we work with our advisors to work within our budget. So for if, if you wish issue a bond, you, you could have a flexible first interest payment. So instead of six months, it might be seven months or to so that we can manage those cash flows, um, you know, pending any emergencies.

▶ 31:48 Robb Stewart: Okay. And, and where I'm going with this is that, you know, there's a lot of talk about some fairly significant Yes. Bond issuances and, uh, that is not taken into consideration within these statements, right? No. Those will come to us in the future.

▶ 32:03 Speaker 5: No, this is actual debt on the books, not the

▶ 32:07 Speaker 1: Model. Okay. Great. That's all I need now. Thank you. Okay. Thank you. Thank you Madam Chair Council.

▶ 32:11 Mark Garipay: Uh, just one, uh, quick question. Um, is the library and the salt shed, are they in these numbers right now? That is that fully gone out? That, that the barn that we did for those two projects,

▶ 32:23 Speaker 5: The library is not, the salt shed is in the, hang on one second.

▶ 32:33 Speaker 5: The bad number for this year has the roads and the firetruck in it, so the No it does not.

▶ 32:39 Mark Garipay: So if I remember correctly, the library was 10.

▶ 32:42 Speaker 5: We have not issued that debt

▶ 32:45 Mark Garipay: Yet though. So we'll see that next, next fiscal year or 2025. We'll see that in the 2025

▶ 32:50 Speaker 5: Number. Yeah, I think we're still working on the timing of those issuances and Okay. When they'll need it.

▶ 32:56 Speaker 8: Thank you.

▶ 32:59 Speaker 4: Anyone else? Councillor Eccles?

▶ 33:01 Jack Eccles: Just a quick clarifying point on that. So the, the Sal Shed is not in this, what we're seeing,

▶ 33:10 Speaker 5: Not in this interest payment. It's in, it's in the current ban. Yes. It's in the current bin that we'll pay in the next year.

▶ 33:19 Speaker 6: So we'll be paying the debt on that next year.

▶ 33:25 Speaker 5: Which pleasure am I on? Yes. Cool. It is in that, yeah, I'm sorry. No worries. It, it, it is in that, I was thinking of something else. Cool. Thank And it was the salt. She had the, yeah. Awesome.

▶ 33:35 Speaker 6: Thank you.

▶ 33:36 Speaker 5: Okay. Sorry about that. No Worries.

▶ 33:44 Speaker 4: Anyone else? Counselors if, uh, vice Chair, Jamal Dean or Caram Shady have questions? I don't, they'll just let you know, right? Cause I can't quite see them. Okay. They

▶ 33:51 Speaker 1: Have not let me know, but they

▶ 33:53 Speaker 4: Thank you, uh, chair. And just, um, um,

▶ 33:57 Maya Jamaleddine: I'm gonna take a moment point privilege just to mention through the chair that, um, not sure. I don't wanna speak for Councilor Riva. It is extremely difficult to hear any comments, uh, from speaker or from my fellow, um, counselors. So, uh, my, our participation is gonna be, uh, probably, uh,

▶ 34:20 Speaker 4: limited. Thank you. Vice chair, Jamal Dean, try to speak into this microphone. Sounds better. Okay.

▶ 34:34 Speaker 4: Any other questions? Okay. Seeing none, what is the, um, will of the committee on municipal debt line seven 11.

▶ 34:46 Speaker 8: Make a motion to recommend, oh, I'm sorry. Move the bottom line. Second.

▶ 34:49 Speaker 5: Sorry.

▶ 34:49 Speaker 4: Councilor Garrette Motion to move the bottom line on seven 11. Seconded by Councilor Eccles. Anyone on discussion? Seeing none, Mr. Clerk, will you please call the role

▶ 34:59 Speaker 1: Vice chair Jamal Dean? Yes. Councilor McMaster? Yes. Councillor Les? Yes. Councilor Repe? Yes. Councilor Stewart? Yes. Councilor Chetty? Yes. Councilor Bruski? Yes. President Greg? Yes. And chair Meg? Yes. Nine. Yes. Unanimous.

▶ 35:22 Leila Migliorelli: Thank you. Um, okay. So in just another note of like the speaking into the microphone off, off to the side, cuz I noticed we always do that when we're talking, so as long as we're just talking right into the mics. Um, next up is municipal debt interest line 7 51.

▶ 35:39 Speaker 4: What is the will of the committee?

▶ 35:42 Speaker 7: Motion to move the bottom line on 7 51

▶ 35:44 Speaker 6: Second.

▶ 35:46 Leila Migliorelli: President Greg Motion to move the bottom line on 7 51. Seconded by Councilor Eccles. Anyone on discussion? See none. Mr. Clerk, will you please call the roll

▶ 35:55 Speaker 1: Vice chair Jamal Dean? Yes. Councilor McMaster? Yes. Councilor Eccles? Yes. Councilor Repe? Yes. Councilor Stewart? Yes. Councilor Chetty? Yes. Councilor Bruski? Yes. President Grigoraitis? Yes. And Chair Elli? Yes. That's nine. Yes. Unanimous. That

▶ 36:15 Speaker 4: Motion carries. And next is projected debt line 7 52.

▶ 36:20 Robb Stewart: I'm chair. Make a motion to move line 7 52 to the bottom line. Second,

▶ 36:25 Leila Migliorelli: Councilor Stewart Motion to move the bottom line on 7 52. Seconded by Councilor repay. Anyone on discussion? Mr.

▶ 36:33 Speaker 4: Clerk,

▶ 36:37 Speaker 1: Vice Chair Jamal Dean? Yes. Councilor McMaster? Yes. Councilor Eccles? Yes. Councilor Gpe? Yes. Councilor Stewart? Yes. Councilor Chetty? Yes. Councillor Bruski? Yes. President Gregs? Yes. And Chair Elli? Yes. That's nine. Yes. Unanimous.

▶ 36:55 Leila Migliorelli: Okay, That motion carries. Um, next up is Medicare City portion line nine 16.

▶ 37:03 Speaker 5: Medicare City portion is $920,000 or 4% higher than fiscal 23. This is due to increases in city payroll due to contract settlements stepped ups, colas and embedded in that payroll number are an, is an increase in healthcare costs of 7.9%.

▶ 37:28 Speaker 4: Okay. Questions from the council?

▶ 37:32 Speaker 4: Seeing none, what is the will of the committee?

▶ 37:35 Robb Stewart: Madam Chair? I'll, I'll make a motion to move line nine 16 to the bottom line.

▶ 37:43 Leila Migliorelli: Second, councilor Stewart, um, Motion to move the bottom line on nine 16. Seconded by President Greg.

▶ 37:53 Speaker 4: Anyone on discussion? Seeing none, Mr.

▶ 37:57 Speaker 1: Clerk, vice Chair Jamal Dean? Yes. Councilor McMaster? Yes. Councilor Eccles? Yes. Councilor Repe? Yes. Councilor Stewart? Yes. Councillor Chetty? Yes. Councilor Abramsky? Yes. President, your yes. And chair Guily? Yes. Nine. Yes. Unanimous.

▶ 38:13 Leila Migliorelli: Okay, that motion carries. Um, next is parking, which is line 2 96.

▶ 38:20 Speaker 5: The parking budget is 65,000 6 0 1 or down 8.7 from fiscal 23. These decreases are due to a reduction in overall costs with a new vendor that we put in late in fiscal 22, and also lower estimated parking volume at the train stations that we have to recognize as consistent in this post. Covid world expenses are created by volume when we're processing the tickets. So that's, that's a big driver in the decrease. Um, the budget does include, um, printing of parking tickets for the police force this year, which I hadn't before, which is an offset.

▶ 39:05 Speaker 4: Okay. Um, questions from the council.

▶ 39:10 Mark Garipay: Councilor Repe. I'll make a motion to move the bottom line. Second.

▶ 39:13 Leila Migliorelli: Motion to move the bottom LA line made by Councilor Gar. Be seconded by President Greg Grigoraitis. Um, on line 2 96. Anyone on discussion? Seeing none, Mr. Clerk, will you please call the roll

▶ 39:28 Speaker 1: Vice chair Jamal Dean?

▶ 39:33 Speaker 1: Yes. Councilor McMaster? Yes. Councilor Eccles? Yes. Councilor Gepe? Yes. Councilor Stewart? Yes. Councilor Chetty? Yes. Councilor Abramsky. Yes. President Greg? Yes. And Chair Elli? Yes. That's nine. Yes. Unanimous.

▶ 39:50 Leila Migliorelli: Thank you. That motion carries. Um, and thank you Ms. Armar. I think we've come to the end. Thank. Thank you. Next we have the auditor's department with cfo, Patrick LaRusso.

▶ 40:25 Speaker 9: Welcome, Welcome in. Good evening.

▶ 40:31 Speaker 9: I truly appreciate being here this evening and, um, taking the time to go over my budget with you all, and if there's any questions as I move through it, feel free to ask. I'll be happy to address it. Um,

▶ 40:46 Speaker 9: As an overview, the audited salary and wages category reflects the updates to staff compensation as a result of the HRS Comp and class study. But three of its four employees who are non-union, which include the assistant city auditor, the finance manager, and me as the CFO city auditor. We have one union member of staff responsible for accounts payable. This position is in the Association of City Hall Employee Union, and the fiscal 2024 budget reflects the C B A that was ratified during fiscal year 2 0 23. That's the, that the first category is 85% and a little bit more of the budget as a whole. The next category that we do have is the contractual category that includes the outside auditing services provided by Powers and Sullivan, and the annual comprehensive financial report. The first of its kind that was done for the City of Melrose, and I wanna talk about that in a moment. The, um, professional services line of that same category, Plex, no change in cost from Metro Y 20 to 23, and it provides funding for the Clifton Lawson, L L L P or c l a to assist the city in year end reporting inclusive of the balance sheet in year end state reporting and related reconciliation processes. In addition, it covers the cost of the actuary. Stone Consulting needed to perform the evaluation work required each year to ascertain, uh, other post-employment benefits known as opep liability. And finally, the last category in my budget. Other charges, you'll see an increased request of $800. That, again, is really directly impacted, um, due to the, um, membership on the Government Finance Office Association G F O A. That is required now that we have, uh, begun the process of getting certification. Each and every year, financial statements have burst in the city of Melrose. I, I, I just wanna take a, a moment personal, uh, privilege for a second. Just acknowledge all the hard work done by everyone in the city to make this report happen. I believe that the counselor should have received a hard copy. If you haven't, please let me know. I'll be pleased to get it to you. It is online, on the website. This is extremely, extremely detailed. It covers the stats from going back 10 years ago to current. Um, this was done for year end, December, uh, 2022 fiscal year end. And I think that you'd find it really, really in an interesting report to read and helps to understand and in common terms, the, um, financial stability of the city, the, the, um, past history. And it gives you a concept of where we've come from, which is the historical context. I encourage everyone, um, here and obviously those at home to take a look at it. I think you'd be extremely pleased, and I think it was worth all the effort that we did. Um, and again, the objective here in my office is to continue this report each and every year thereafter. Um, I think it's extremely worthwhile and I'm, I'm, I'm hoping that anyone feels the same when, when they take a look at it. But overall, my office continues to, uh, be the steward of the city's finances and we do our due diligence each and every year. Um, that to ensure that everything is in order on behalf of the city and all its residents. If there's any questions that be happy of yen. No,

▶ 44:40 Leila Migliorelli: Thank you. Um, so this is questions on the auditor's department line 1 35. Um, just checking with counselors. Caram, JD or Vice chair Jamal,

▶ 44:52 Speaker 4: uh, vice chair Jamal,

▶ 44:57 Maya Jamaleddine: Thank you. Um, I would like to take a moment, um, to thank you Mr. LaRusso, uh, for being with us tonight. Uh, when I truly wish that, uh, we were able to have you, uh, throughout this hearing, um, budget hearing. Um, I totally, I am aware that you are here now discussing, uh, your, uh, department budget. But I feel that moving forward and in future, uh, budget hearing, uh, it would be very critical and specifically for the sake of transparency that the C f O be present while we are discussing and making such a important and big decisions on, um, um, on the city budget. Um, I don't have a direct question about your department budget, but I really hope that you find a way, um, to express and explain to us and to, uh, Mary's community how is the city budget is doing specifically that we heard during, uh, previous, uh, uh, budget hearing meetings that, um, we, you know, we've been, they've been recommended for, um, bonds and, and that, um, our, um, pre-cash is, is,

▶ 46:27 Speaker 4: you know, is very short. Thank you. Thank you. Vice Chair, Jamal. Dean. Thank you.

▶ 46:38 Jen Grigoraitis: Thank you, Madam Chair. Thank you Mr. LaRusso for being here tonight, and thank you to you and your team for all the work that you do. It's been quite a year. Um, thank you very much. I just wanted to ask on the, it seems like we've been using Clifton and I'm sorry, not Clifton and Larson, um, powers and Sullivan pretty consistently for the audit. Yes. How often does that contract go out to bid?

▶ 46:59 Speaker 9: Um, they, it is exempt from 30 B. We do, we do, uh, um, try to, um, contract with them each every three years. Okay. And, um, right now, I think for the last three years, they were consistent in their, uh, costs for the audit. I think this year they're up 2000 overall, and they consistently try to maintain that for multiple years. Um, candidly, I, I probably, um, believe they're probably the best auditors in the Commonwealth. And I say that without hesitation and, and the fact that, um, having truly worked with them to make this a reality for us, and knowing the work they did to help the city do that, it real, they weren't overboard and really reached out to make sure this was gonna happen for us. So, I, I, um, hope it answers your question, but I'm more than satisfied. And if I wasn't, I would replace them. I've done that in the past and I'm not, I wouldn't hesitate for a moment.

▶ 47:56 Jen Grigoraitis: Okay. Thank you. Um, and then to, for Clifton Larson, Allen, um, they're in the professional services line for your budget. I also know the, um, schools have been working with them. Is that, are those separate contracts? Yeah. Okay. Yeah. Um, and then my last question is just that I know back in the fall when we were really all kind of digging into the budget, in light of some of the recent, um, discrepancies with the school budget, we had begun a process of having monthly budget reports. And those stopped around January, I believe, as we were transitioning into preparing for this budget. Can we anticipate that those will start up again, um, once we start the new fiscal year, or I I haven't seen one since January.

▶ 48:34 Speaker 9: They, it's my understanding that they do that. Um, my Carrie does produce those every month and doesn't send them up. I'll make sure, I'll check tomorrow, but I, that's a bit my understanding. If you're not getting them, then there's obviously this, this, that just should not be.

▶ 48:48 Speaker 7: Okay. Thank you. Thank you Madam Chair.

▶ 48:50 Speaker 9: Yep. Anytime.

▶ 48:51 Speaker 4: Any other questions?

▶ 48:56 Speaker 4: Seeing none. Um, oh, councilor McMaster.

▶ 48:59 Shawn M. MacMaster: Uh, Madame Chair, at this time I was gonna make a motion to move the bottom line in Department 1 35

▶ 49:07 Leila Migliorelli: Councilor McMaster Motion to move the bottom line on 1 35. Seconded by Councilor Repe, anyone on dis discussion? Seeing none, Mr. Clerk,

▶ 49:17 Speaker 1: Vice Chair Jamal Dean? Yes. Councilor McMaster? Yes. Councilor Eccles? Yes. Councilor Garipay. Yes. Councilor Stewart? Yes. Councillor Chetty? Yes. Councilor Aki? Yes. President Grees? Yes. And Chair Elli? Yes. That's nine. Yes. Unanimous,

▶ 49:36 Speaker 4: That motion carries.

▶ 49:37 Speaker 9: Thank you very much.

▶ 49:38 Leila Migliorelli: Next is the, um, stabilization OPEP funds line 9 42.

▶ 49:43 Speaker 9: Yes. Thank you. Um, in this particular budget requesting, as we did last year and the year before that, that $50,000 go to the, um, foundation stabilization fund. That's fund number 84 0 1, which is the first line of the two line budget. And the second one to the Opep Trust fund number 84 0 7, also 50,000 for a total of 100,000. A little background. Um, the original stabilization fund, uh, contribution was set by ordinance in the city years ago, so that we would always take the time in each budget to make sure that we're, um, putting money aside for a rainy day. And it's, uh, going on for a number, number of years, um, that I've been here. Um, the Opep Trust, again, that was a commitment we made. Um, I did to standard employers that we would show consistency and funding every year to help draw down the very large opep liability of the city. And by putting it actually in the budget, it gives them assurance that was committed to that, um, objective. And it proves that we're not considering it a secondary afterthought. Um, and again, just for tho those people here tonight and, and those at home, uh, I really believe in my heart that because we've been so consistent that has maintained AA plus rating with standard and PO for the last 10 years, that's not easy to achieve, but it takes a committed effort. And I thank the city council before all their help and support because you've always been there. And without that, we could not have achieved that goal. And I thank you all. Um, I just, um, again, always look forward to, um, having this annual discussion because it, it really, really does matter. It matters when you're gonna borrow money. It matters on the interest rate you're gonna get. And it also is, um, something that assists in our financial statements to show continued growth and development. We have the highest fund balance this year than we've had in the history of the city, over 23 million. So in all areas, I'm, I'm extremely pleased right now. Thank you.

▶ 51:59 Speaker 4: Thank you. Um, questions from the council?

▶ 52:08 Leila Migliorelli: Um, okay. Seeing, actually, I just have a question. Thank you. For clarify. I had a question from a constituent about the Foundation stabilization, why it's in the budget, and then why we do other transfers from free cash into, um, stabilization funds. So thank you for explaining, um, reiterating that it one is, uh, due to an ordinance and the other one is due to recommendation by Standard and Poors. Um, can you just restate the, the balances on? Um, I'm sure we have it here, but I just don't have it right. And pull it up.

▶ 52:36 Speaker 9: I certainly can. The current balance of the stabilization fund, the foundation's stabilization fund I call it, is 3 million nine hundred forty two four fifty seven 0.99. And the opep is, the second fund is 1,115,002 35.15.

▶ 53:00 Leila Migliorelli: Thank you. This would add basically Mis cause I thought you said 23 million and I said that can't be possible. So thank you for saying that again. Any questions?

▶ 53:11 Speaker 4: Seeing none. What is the will of the committee motion?

▶ 53:14 Speaker 6: Move the bottom

▶ 53:16 Leila Migliorelli: Line. Second. Councilor Eccles. Motion to move the bottom line on 9 42. Seconded by Councilor Repe. Anyone on discussion? Seeing none, Mr. Clerk,

▶ 53:28 Speaker 1: Vice Chair Jamal Dean? Yes. Councilor McMaster? Yes. Councilor Eccles? Yes. Councilor Gepe? Yes. Councilor Stewart? Yes. Councilor Chetty? Yes. Councilor B Bruski? Yes. Present? Yes. And Chair Elli? Yes. That's nine. Yes. Unanimous.

▶ 53:45 Speaker 4: That motion carries. Thank you

▶ 53:48 Leila Migliorelli: Very much. Thank you. Um, so, uh, just to move on, I'll entertain a motion to hold appropriation 2023 slash 28 committee. Actually we can Motion to recommend?

▶ 53:58 Speaker 4: Yeah. Motion

▶ 54:00 Speaker 6: To recommend ma'am.

▶ 54:05 Leila Migliorelli: Second. Motion to recommend, um, passage for appropriation 2023 dash 28. That is the entire budget that we've just moved all the bottom lines on, um, to be heard in full counsel next week. I believe that is the correct motion. Um, Mr. Clerk, will you please call the role? Oh, actually, sorry. Let me just restate it. Motion made by Councilor Eccles. Seconded by President Grigoraitis. Um, Mr. Clerk, will you please call the role

▶ 54:33 Speaker 1: Vice Chair Jamine? Yes. Councilor McMaster? Yes. Councilor Les? Yes. Councilor Gepe? Yes. Councilor Stewart? Yes. Councilor Chetty? Yes. Councilor Bruski? Yes. President Grigoraitis? Yes. And Chair Elli? Yes. That's nine. Yes. Un unanimous.

▶ 54:51 Leila Migliorelli: Okay. That, um, that passes, that passes committee and will be heard at our full council meeting, um, on the 20th. Okay.