Fwd: [WNewton] Fw: Pushing back against misinformation

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Janet Sterman

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Mar 13, 2023, 9:55:09 PM3/13/23
to Newton Corner
Thank goodness we have sensible people like Arthur Jackson and our community.

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Janet Sterman
📳 (617) 329-1360

---------- Forwarded message ---------
From: arthur jackson <arthurj...@hotmail.com>
Date: Sat, Mar 11, 2023, 9:21 AM
Subject: [WNewton] Fw: Pushing back against misinformation
To: West Newton Neighborhood Group <westnewtonn...@googlegroups.com>, newto...@lists.neighborhood.net <newto...@lists.neighborhood.net>


Let's start with misinformation from the City at the start of the override campaign. 

The City claims that we will lose $20 million in State funding for Countryside if we don't approve a debt exclusion. I'm calling major misinformation on that statement. The City has the ability to easily borrow the extra $40 million to build Countryside without a debt exclusion. The debt exclusion is only $2.6 million. It's my understanding Countryside is proposed to be rebuilt starting in the summer of 2025. So at the earliest, we'll be paying for that in two years. Some statements from City Officials claim the debt exclusion won't hit until FY 2030.

Either way-guess what!!!! The City projects Northland will generate $10 million in permit fees-That's four years of the Countryside bond payment right there. Pg. 7


And Northland is scheduled to start building this year. 
Construction news for the development by Northland in Newton, Massachusetts. Neighbors and interested Newton residents are encouraged to come and sign up to get project construction updates, upcoming project news, and impacts to things like traffic.


Then when Northland is built,  it will generate millions more in additional tax revenue. So let's not hear the City claim that we would lose $20 million dollars from the State if the debt exclusion doesn't pass. Misinformation!!!

And if the override doesn't pass-the City claims we'll lose 40-50 school teachers. Misinformation! The city can't afford to cut a police officer, fireman, clerk, secretary, parking enforcement officer? It has to be all teachers?  Misinformation.

The City has millions of dollars it says No-we can't spend, while we want you to spend your money sitting in your bank account. 

The Free Cash has $24 million in it. The Mayor says she's taking $7.5 million from that account for Horace Mann. So YES -free cash can be used for long term costs.  When the pro-override people say it can't be done that's obviously not true.

That's in addition to the $24 million in the rainy day fund. The pro-override people claim we must keep that amount in the fund. Not true!!!! There's no statutory requirement for that amount. When the City wasn't so flush with cash the City didn't even have a rainy day fund. So YES, that money can be spent. What's the point of a rainy day fund if we don't spend it when we have budget needs????

ARPA funds-should we spend $3 million on Washington Street or on hiring teachers or building schools? There's still around $5 million in that account. Take the $3 million for Washington Street and the remaining $5 million and basically we don't need an override.  So YES we can spend ARPA funds. 

And the overlay account has excess amounts over the amount potentially owed to Eversource. So YES there is extra money there.  

Thank you.

Artie


Sent from Outlook

From: Vote Yes for Newton <in...@voteyesfornewton.org>
Sent: Thursday, March 9, 2023 1:31 PM
To: arthurj...@hotmail.com <arthurj...@hotmail.com>
Subject: Pushing back against misinformation
 
This is a fact-based campaign.
Dear Newton Neighbor,

One-time funds do not negate the need for an operating override.

Newton needs a reliable and recurring source of revenue. Maintaining reserves is part of being a fiscally responsible city. 

We’d like to address:

4 Common Misconceptions about Newton’s Finances

We have millions in ARPA money that can be used instead of an Override. FALSE
  • Newton received $63.5 million in federal APRA funds. $58.6 million has already been allocated for COVID relief and recovery. 
  • For context, the cost to rebuild all 3 school buildings (Horace Mann, Franklin, and Countryside) is $145 million. 
  • The city has kept $4.9 million (around 8%) of the ARPA funds in reserve in case we need it for continued COVID-19 response and recovery efforts.

Rainy Day Funds can be used instead of an Override. FALSE
  • 5% of Newton’s budget ($24 million) must be kept in the Rainy Day Fund to be used in case of a catastrophic fiscal event or significant reduction in state aid.
  • Many other AAA-rated cities keep more than 5% in their Rainy Day Fund. 
  • Using Rainy Day Funds to pay for roads or schools every year is like using your personal emergency fund to pay monthly bills: it is ok in an emergency, but it is not a good long-term plan.

Free Cash can be used instead of an Override. FALSE
Free Cash is the money in the City budget left over from the previous year.  This is how Newton spends its Free Cash:
  • Up to $1.5 million Free Cash goes to next year’s operating budget.
  • Some goes to replenish Rainy Day Funds depleted in the previous year.
  • A minimum of 40% is put in the Rainy Day Fund to keep it at its target level. 
  • Any additional Free Cash will be used for one-time, non-recurring expenditures.

Overlay Funds can be used instead of an Override. FALSE
  • Cities must keep an Overlay in case of a shortfall in real estate tax revenue. 
  • Right now, Newton has more than usual in the Overlay Fund because Eversource made a one time payment to Newton as a result of litigation. However, the case isn’t final yet - Eversource appealed - and Newton may be required to pay the full amount, plus interest, if Newton ultimately loses the ligation. 

Plain and simple: if this override doesn’t pass, it will be a decade before new schools are built. There will be significant budget cuts to the Newton Public Schools. And other necessary investments to senior services, roads, fields, parks, and playgrounds will not happen.

Please help Vote Yes for Newton to correct the misconceptions that are out there. You can share this email with your friends and neighbors and urge them to vote YES on Tuesday, March 14.

Thank you for your support of all 3 Override questions!
Kerry Prasad and Christine Dutt 

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