Is that what that was? I thought it was about 90% stumping for an override.
The speech was pure propaganda for the override. The mayor’s speech tonight was an embarrassment as her data is unsupported. She is just pulling numbers out of the air.
Mayor Infurna declared there will be a 600k deficit in the budget with the city just making a 2% increase to the schools. Where is the Data that supports how she specifically calculated the 600k deficit and that this is the starting point after a 2% contribution to the schools? .What specific records is the mayor using to support the city is facing a 600k deficit in the city budget with only a 2% contribution to the schools. The mayor states the 600k deficit will require cuts to the rest of the city and a result, the city is not able to provide any contribution greater than 2%. What specific assumptions is Mayor Infurna using to support the starting point is a 600k deficit?
The Doomsday scenario painted by Mayor Infurna if the override fails is not supported by by our independent auditors(Powers & Sullivan LLC) or our bond rating firm, Standard & Poors(“S&P) who have no vested interest in the outcome of the override. Specifically, S&P states in it bond rating (which is the same rating we have had for several years) narrative Melrose has great budget flexibility with available fund balance of 8.8% of operating expenses. Furthermore, S&appears expects the city’s budget flexibility to remain very strong. This does not remotely mention the doomsday continuously painted by Mayor Infurna. Let’s all think about that for a moment the before we consider the merits of the amount of the override and how those funds will be used
For the past three fiscal years, the year over increase in the school budget was as follows
FY 18-19 4.2%
FY 17-18. 4%
FY 16-17 2.8%
Additionally, the city has had an increasing level of free cash for well over the past 10 years. For the past five years, the following amounts of free cash have been certified by the state as follows:
6/30/18. $3.6 million
6/30/17. $2.3 million
6/30/16 $ 4.32 million
6/30/15 $3.4 million
6/30/14 $3.2 million
For fiscal 2019, the free cash available for 2020 is expected to be even higher.
It’s no mystery why the city is attempting to paint a doomsday scenario for fiscal 20 just prior to the override vote. Although, the city projects doomsday for fiscal 2020, they have not provided any data to support how they arrived at the calculations.
An overwhelming majority of Melrose residents know the city’s override playbook very well. While it may be convenient for city hall to ignore the S&P narrative which states Melrose has great budget flexibility and a fund balance of 8.8% of operating expenses and our audited financial statements produced by the CPA firm Powers & Sullivan which don’t reflect the propaganda coming from city hall, anyone that knows how to read a balance sheet quickly recognizes the doom and gloom financial position painted by city hall is not remotely reflected in those reports.
Sorry my name's not Arnie, and I wasn't there. It was read by Infurna on MMTV prior to the actual speech. Check the time of my original post. 6:24PM.