The Town’s Finance Committee met earlier this week to go through all 52 Town Meeting warrant articles and provide recommendations for those that had financial implications. The only articles FinCom advised town voters to vote against were Articles 46, 47 and 48. Article 46 asks the Town to “vote to appropriate the funds from free cash not to exceed the sum of $100,000 and … [Read more...] about FinCom issues warrant advice
Alec Goolsby
Good news, bad news
The Finance Committee and Chief Financial Officer (CFO) discussed Marblehead's upcoming financial forecast for fiscal year 2026 (FY26), highlighting both positive news about free cash and concerns over rising expenses in the coming years. Finances have been a major focus in Marblehead since the conclusion of the teachers’ strike, with much attention on the need for an … [Read more...] about Good news, bad news
Finance Committee to identify town’s personnel cost
At Monday’s Finance Committee meeting, the discussion highlighted the need for thorough financial planning in Marblehead to ensure the town’s fiscal health. The Chair of the finance committee, Alec Goolsby, stated that a portion of the budget could be determined by identifying the personnel in each municipal department. There are approximately 800 to 900 people employed … [Read more...] about Finance Committee to identify town’s personnel cost
School and Finance committees brainstorm on budget
The Finance and School committees came together to discuss the budget for fiscal years 2024, 2025, and beyond on Monday. Assistant Superintendent for Operations and Finance Michelle Cresta began by giving an update on the FY24 budget, relaying that 11.2% of it has been spent so far. Cresta explained how the budget’s biggest obstacle has been the inability to consistently … [Read more...] about School and Finance committees brainstorm on budget
Town begins Fiscal Year 2025 discussions
Preparations are already underway among town leaders to begin putting together budgets for Fiscal Year 2025. The town’s Finance Committee met Monday night to provide an update on the FY25 calendar and a revenue forecast, in addition to a budget-process update. Committee member Alec Goolsby, who was re-elected as chair at the meeting, laid out key dates that will ultimately … [Read more...] about Town begins Fiscal Year 2025 discussions