Last Saturday morning, for about three hours, Mike Sullivan ran his annual municipal finance program for the Warrant Committee members, the Moderator, and this selectman. Mike called it his “municipal finance 101” course. Here are part of his materials.
This must be at least the third time that I have attended, but I find that I learn something new every time, so it is well worth the time. Kudos to Nick Athanasiadis, who was there, honoring his pledge to continue to be involved, as well as other new Warrant Committee members Tom Marie and Mike Marcucci. Existing Warrant Committee member Joanna Hilvert and Greg Sullivan were also there, along with Scott McDermott.
My biggest issues from Saturday’s session –
- there are some town held endowment monies that are not covered by arbitrage rules against making money, and I think the town should decide whether it wold like to see those more actively managed
- to more actively manage those town monies, I think it makes sense to make the Trust Fund Commissioners be appointed, instead of elected, as they are currently, so we could perhaps get some money managers who live in town to help out (ie. it is generally complicated enough to run for office, that we cannot expect volunteers to do so)
- the school budget totals 65% of our total town budget of $52 m., when one adds in the costs the town pays for the schools, mainly the health insurance for the teachers
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