This article emphasizes the importance of developing sound financial policies in communities and provides a general roadmap for local officials to reach consensus on those policies for their community.
This article is a helpful guide for local officials preparing for the annual budget season. It presents a helpful roadmap of suggestions and best practices that foster communication and collaboration as cities and towns craft their fiscal year budgets.
This article highlights the importance of developing a municipal calendar to assist in managing key processes, timely statutory reporting obligations, collection of revenues, and compliance with state and federal laws.
This article provides important information and guidance to local officials seeking to measure their community's override capacty, the difference between the community’s levy ceiling (the amount equal to 2.5% of the community’s total property values and the maximum allowable levy, outside of any debt exclusions) and its levy limit (the maximum property tax levy for that year).
Financial Management Resource Bureau recommends as a best practice, communities engage a certified public accountant to conduct independent audits of their financial records to review operating procedures, financial controls and comment on management practices.
This article discusses Other Postemployment Benefits (OPEB) for public employees in Massachusetts, focusing on the financial obligations municipalities face regarding retiree benefits such as health insurance. It highlights the importance of establishing OPEB trust funds and developing funding strategies to manage these liabilities effectively, as well as the implications for municipal budgeting and credit ratings.
This article provides important information and guidance to local officials evaluating the trends, challenges, and collection policies and procedures regarding their uncollected revenues.
This article provides recommendations for local officials submitting available appropriation information into Gateway through Page 4 of the Tax Rate Recap.
This article discusses the importance of utilizing the "Financial Indicators Dashboard" developed by the Financial Management Resource Bureau to help cities and towns plan for the future by analyzing financial and demographic trends, informing policy decisions, and setting realistic financial goals for long-term stability.
