An Update on First 100 Days: Finances & Management

An Update on City Finances & Management in Mayor Jen's First 100 Days:

1. Employment Policies & Practices: The City is in the final stages of a review and update of its personnel manual and policies. The review’s focus is to ensure that our policies and practices are legally compliant with changes to state and federal mandates, advance equity, and help us attract and retain high-quality staff to deliver services to our community.  In addition to ensuring that our policies and practices are current, inclusive, and equitable, the review and update will make us more competitive in the insurance market when we next go to procure coverage for the City.
    
2. External Financial Management Review: At my request, the Division of Local Services of the MA Department of Revenue will conduct a financial management review of the City of Melrose. This process, slated to begin in September, will take approximately 3- 6 months. DLS will provide a comprehensive operational review of Melrose’s local accounting, treasury, collection, assessing, and overall administrative functions, with recommendations and best practices on how to improve day-to-day management practices and procedures through specific and hands-on tools, guidance, and strategies.
    
3. Annual Financial Reports: The City has received its annual financial audit reports FY 23, with no significant findings. You can review the reports under the “City Finances” tab on the City website.
    
4. FY 25 Budget: As previously discussed in public meetings and communications, we are anticipating a challenging budget for the upcoming fiscal year.  On May 6^th, I will present the City Council with the following:
   • A balanced FY 25 budget for City and Schools based on our current anticipated revenue, as well as details on identified unfunded needs, which, on the City side, is focused on our collective bargaining agreements for City employees;
   • A request to increase the senior property tax work-off exemption to $2,000 for eligible residents aged 60 and over, which is the maximum exemption allowed by state law; and
   • A request for an operational override ballot question for late June to increase available funds for City and School needs.

Additional information on the City budget will be made available in the weeks ahead. To read Mayor Grigoraitis' First 100-Days Plan (released February 1, 2024), click here.