Mayor Ruthanne Fuller has announced that the City may soon have additional one-time funds of about $48 million available, and she has proposed that these funds be used for a combination of one-time needs and stabilizing the City’s financing through 2032 as the City completes its plan to fully fund…
Posts published in “Budgets”
In the past week, both the Newton Teachers Association (NTA) and the School Committee have released public statements regarding the status of negotiations for a new contract to replace the existing one, which expires on August 31. The School Committee has stated the two sides are at an impasse, and…
Ending months of sometimes tense negotiations with the Mayor, the City Council voted to approve the Mayor’s FY24 budget of $499,710,209 General Fund allocations with an additional $70, 306,117 for Community Preservation, Water, Sewer, and Stormwater funds, for a total of $570,016,326. (See FY2024 Budget, FY2024-2028 CIP, and FY2024-2028 Supplemental CIP).…
Prior to the City Council’s full budget review and approval, the City Council met to consider a resolution proposed by Ward 4 Councilor, Lenny Gentile, to use $10,000,000 of Free Cash designated for the Lincoln Eliot Elementary School project, as part of an unrestricted reserve fund comprised of: Councilor Gentile’s…
State Senator Cynthia Creem just announced that the Senate’s FY24 Budget is complete and shared a number of budget items that will benefit Newton programs and services. As Majority Leader in the Massachusetts Senate, with thirty-seven Democrats and three Republicans, Senator Creem achieved a wide range of budget goals for…
In the wake of the Operational Override failure on March 14th and after nearly two months of negotiations between the Newton City Council and the Newton Retirement Board, the City Council voted 23-0* to accept the Retirement Board’s proposal to increase funding for the Pension Trust at the rate of…
The City Council Committees have completed their review of departmental budgets for Mayor Fuller’s Proposed FY2024 Budget and the School Committee Approved Budget for FY2024 as well as the FY2024-2028 Capital Improvement Plan and the FY2024 Supplemental Capital Improvement Plan. The table below shows links to the each of the…
After several weeks of reviewing municipal and school department budgets, the City Council has submitted six budget resolutions — one to the School Department and five to the Mayor — for consideration.
The Finance Committee voted to approve the following (see Report and watch video on NewTV): The Finance Committee’s vote not to approve the following item:
On its May 15th agenda, the City Council discussed a requesti by Mayor Fuller to appropriate $10 million from Free Cash to pay down that amount of the $50 million bonds for construction of the new Lincoln-Eliot school. The Mayor indicated that the annual debt service saved from this allocation…
Mayor Fuller has put together a summary of a financial program to help fill some of the Newton Public Schools (NPS) budget gaps and the Horace Mann project after the failure of the general override. The plan includes the following: Increase pensions via COLA: The plan, which the Retirement Board…
City Council President Susan Albright sent this request to the Retirement Board to discuss the possibility of offering additional COLA payments balanced against a slightly slower rate of growth. The current rate of growth is 9.6%, and the Retirement Board is currently requesting a reduction to 6.6% with an increase…