Finance Committee's Pro's & Con's of STM

This article allows salary adjustments based upon negotiations with various bargaining units, cost of living adjustments and/or market adjustments as determined by the Board of Selectmen.

Failure to pass would cause the Board of Selectmen to renegotiate all of the various

agreements.

Additional year end account adjustments to provide sufficient funds to cover current year expenditures exceeding budgeted amounts.

Failure to pass would cause these expenditures to be carried over to the next fiscal year potentially causing similar problems again.

These capital expenditures are a necessary operating expense.  Since free cash is available, it would be prudent to acquire these items this year.

The alternative is to budget for these items in Fiscal year 2018. This approach leaves less funding for other FY 18 purchases.

Repairs.

The Other Post Employment Benefits Trust fund was created to ensure the benefits coverage of retired employees of the Town of Southwick. The Town votes to place a specific amount of money into this fund on an annual basis to ensure the funds will be available as needed for our retired employees.

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