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[4:51]
To give you a quick overview of how you come to issue debt. Basically, the town assumes you're going to do a new project. In this example, we're just going to say we're going to recreate your library project that you're currently paying your debt service on. So somebody comes up with the idea, let's do, the library.
[10:51]
So to get into a rating, both rating agencies review the same categories. They review your management economy finances and debt. And it's important to mention I said before that S&P last rated you in June of 2023. They actually updated their methodology in September of 24. So you haven't been rated per se under their new methodology,
[14:15]
They do mention the challenges. And this is where you're not alone is the challenges of proposition two and a half pensions and future capital needs. The town has historically been at your levy limit except for 2024 is an outlier year. And I looked into that. When we put this graph together, it was like, what was going on?
[28:20]
Then finances. Again, they're going to look at three year average operating results. So your positive budgetary performance has been a plus. They are going to make sure that your enterprise funds are enterprise supported or self-supported. I should say that no general fund is, supporting these. So you want to make sure your rates for water and sewer
[28:58]
You do have strong free cash and, fund balances. Your fund balance has been around nine. Free cash has been around 5 million, give or take, for the past 5 or 6 years. And then your unassigned fund balance has been 9 to 10 million as well over the same time period. Just to give you an idea of what
[30:09]
The reading report did state you have a solid financial position and you have, you're not reliant on state aid, which is great. You have 75% of your general fund revenues are property taxes. So they're predictable. You can model knowing what your revenues are going to be. And again, your repository budgetary performance.
[36:50]
Any additional questions? You think we have? Okay. Thank you Abby. Appreciate it. Is chair Brian Ryan Brian. All right. So Chad if you you're you know if you got something to say yeah. You just can't you. Yes. Thank you. Thank you. Let me.
[37:24]
Is it nice to.
[37:54]
Know you could you could. Okay, I got closed. You remember the name of the file being one of these? Oh, is. Yep. There you go, bro. I love thanks for having me tonight. Representing, Rockland Trust. As you can see, the names of the team right there for some of the team, mostly, I would say the contact that,
[43:15]
So that's kind of the bank and overview for this purposes tonight. Christine and Pam probably, you know, one probably get it to more often than they'd like and certainly longer than they would like. I have boiled this down so we can I'm just going to kick more of the, the treetops in the happy to talk
[46:13]
We had select representatives. Town Manager Pete was was there as well. Peter. And then, John Lehman and then we always had a select, Bruce was on it for a long time and, and, along with it as well. So essentially saying, okay, how do we want to set this up with a lot of input for us?
[1:00:24]
Thank you Brian. Appreciate it. Thank you. And assuming it ends up and I think all right I can't I can't tell from the screen is Dan on. I don't know if Dan can say anything that have happened since the beginning. Good evening. Hello, Dan. How are you? Very good. Thank you. Greetings. All those,
[1:05:37]
I think you I think he dropped. No I'm so here are there. So how do you how do you when you see the rates moving like they have in the past actually in the past four days, but really a year to date. How how do you tie that to what, what the discount rate probably should be.
[1:09:20]
One of the things that was brought up is, question regarding pension is, is how can Norwell, influence, the appropriation for pension and basically is hiring and salaries? That is the biggest issue. You're hiring people, you'll become a bigger portion of Plymouth County, you know, get a bigger allocation. It's an actuarial based calculation.
[1:12:05]
Let's see, that's what I wanted to cover on pension. Oh, another question came up, regarding extra contributions to the pension. So, because we have a good working old PEB trust, if you had extra cash that you wanted to get in and get invested, I would consider putting it either the pension or the old PEB trust,
[1:14:42]
I think that's all I've had on pension. And if if everybody's good, we can move to the OPM.
[1:14:51]
The next page, please, or a couple pages. One another one there. We got, the net profit and the other net assets. Thank you. So this is a, June 30th of 2025. OHP, have a valuation report. We don't have anything for 26 yet. I don't have data. I just got assets. Thank you. Brian, 9.9 almost.
[1:16:06]
Under Gadsby rules. If they have ask you this, show what the liability an asset, unfunded liability might be if you, increase or decrease the, investment rate of return. And you can see you go from either 36.1 million is your starting point, drops down 31 if you get earned eight and a half
[1:22:00]
And I think I'm going to skip the rest of this. Well, actually, if you could get to page eight. Yeah, another page there. Those are all the plans that are offered and their relative costs. So this is an area that you might want to spend some time on focusing on. Are these plans make sense?
[1:22:53]
Again, this take into consideration the recent health health update, health plan design or no. I'm actually looking at you,
[1:23:07]
the retirees. Okay. But yeah.
[1:29:06]
With their arm a little bit. Notice. Yeah. No kidding. Let's see what else would I need to cover or want to cover? Oh, one other thing. And this came from Abby. And it's a great reminder of what happened to Wakefield. We were one of the communities that got knocked down
[1:31:39]
Thanks, Dan. Yep. Is this just quick check my notes. I think it's everything I was wanted to cover. And I'd be happy to answer any other questions anybody has. Any questions for Dan? So. No. And thank you very much for your time tonight I appreciate it. Not a problem, guys. Have a good evening. Thanks. You too.
[1:32:16]
Anybody want to make a motion to adjourn? No. Because I'm a stay in session. No no no no no questions. No no no no. All right. I make a motion to adjourn. Okay. Advisory board is adjourned. I think we're all adjourned. Thank you. Everybody.