TR-2009-47 CONFIRMING AUTH OF FREE CASH RETAINED EARNINGS FY2010 CA
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TR-2009-47
A RESOLUTION CONFIRMING THE ORIGINAL AUTHORIZATION
OF THE USE OF FREE CASH AND RETAINED EARNINGS
IN THE FISCAL YEAR 2010 ANNUAL OPERATING BUDGET
WHEREAS, the Fiscal Year 2010 Annual Operating Budget for the Town of
Agawam was adopted by the Agawam Town Council on July 27, 2009;
WHEREAS, the eighth paragraph of the Fiscal Year 2010 Budget Resolution
(TR-2009-16) authorized the Assessor to use not more than $2,500,000.00 of"Certified
Free Cash" to reduce the Fiscal 2010 Tax Rate;
WHEREAS, in the ninth paragraph of the Fiscal Year 2010 Budget Resolution
(TR-2009-16), the Council appropriated $65,000.00 from the Agawam Municipal Golf
Course Retained Earnings Account (65200-31510) to Fund Balance Appropriations
Account-(65210-48500);
WHEREAS, the Commonwealth of Massachusetts Department of Revenue
certifications of the town's "Free Cash" and Agawam Municipal Golf Course Retained
Earnings had technically lapsed at the end of Fiscal Year 2009 on June 30, 2009;
WHEREAS, the Commonwealth of Massachusetts Department of Revenue
completed its annual certification of the town's "Free Cash" and the Agawam Municipal
Golf Course Retained Earnings on October 13, 2009; and
WHEREAS, since the Commonwealth of Massachusetts Department of
Revenue certifications of the town's "Free Cash" and Agawam Municipal Golf Course
Retained Earnings had technically lapsed oii the date of the Council adoption of the
Annual Operating Budget on July 27, 2009, it is necessary for the Counc'I to confirm its
co
"Free Cash" and Agawam Municipal Golf Course Retained Earnings votes now that the
Co�hmonwealth of Massachusetts Department of Revenue has completed its annual
cerjTic,ation of the town's "Free Cash" and the Agawam Municipal Golf Course Retained
Earnings; and
00
NOW THEREFORE, THE AGAWAM CITY COUNCIL HEREBY
C=)
REg�)LVES TO CONFIRM ITS PRIOR VOTE TAKEN ON JULY 27, 2009 AS
F013,OWS:
I. That the Assessor use not-more than $2,500,000'00 of "Certified Free Cash" to
reduce the Fiscal 2010 Tax Rate; and
2, That $65,000.00 is hereby appropriated from the Agawam Municipal Golf Course
Retained Earnings Account (65200-31510) to Fund Balance Appropriations
Account (65210-48500).
DATED THIS DAY OF 2009.
PER ORDER OF THE AGAWAM CITY COUNCIL
Giha M. Letellier, f4esident
APPROVED AS TO FORM AND LEGALITY
Christopher C. John Solicitor
MAYORAL ACIION
Received this day of n L �, 2009 from Town Council Clerk.
Signed by Council President this I day of An oo rx 60h, , 2009.
APPROVAL OF LEGISLATION
By the powers vested in me pursuant to Article 3, Section 3-6 of the Agawam Charter, as
amended, f hereby rove the passage of the above legislation on this day of
)Q" P�,-Q 2009.
Susan R. Dawson, Mayor
DISAPPROVAL OF LEGISLATION
By the powers vested in me pursuant to Article 3, Section 3-6 of the Agawam Charter, as
amended, I hereby veto the passage of the above legislation on this day of
2009 for the following reason(s):
Susan R. Dawson, Mayor
RETURN OF LEGISLATION TO COUNCIL CLERK
Returned to Council Clerk this t'-7"-x -dayof Y—�C)Lx 2009.
14—ir
TOWN OF AGAWAM
INTEROFFICE T q;
MEMORANDUM ED
To: Solicitor Christopher C. Johnson
CC: Mayor Susan R. Dawson
From: Laurel A. Placzek
Date: November 13, 2009
Subject: Reaffirmation of Fiscal Year 2010 Free Cash Appropriation
The amounts of Certified Free Cash and Retained Earnings expire each year at June 30". It' Free
Cash appropriations are not voted by June 3 01h, there is no certified amount from which to
appropriate, Since the Fiscal Year 2010 Budget Resolution was not acted upon by the City
Council until July 27, 2009, there was no "Certified Free Cash" available. The amounts of the
Town of Agawam's Free Cash and Retained Earnings as of July 1, 2009 were certified by the
Department of Revenue on October 13, 2009. A new resolution is now required to reaffirm the
original authorization of the use of Free Cash and Retained Earnings in the Fiscal Year 2010
Budget.
I have attached a proposed resolution using the verbiage from the original Budget Resolution,
TR2009-16.
This should go on the City Council Agenda as soon as possible so that it can be approved before
the Fiscal Year 2010 tax rate is set.
Thank you.
FROMI'llu DESK OF...
LAUREi.A.PLACZEK
TREASURER-COLUCTOR
ToWN OF AGAWAM
36 MAIN STREET
AGAWAM,MA 01003-1837
(413)786-0400 EXT17NSION 220
Fax: (413)786-9927
Christopher C. Johnson Page Two
October 15. 2009
WHEREAS, The Fiscal Year 2010 Annual Operating Budget for the Town of Agawam was
adopted on July 27, 2009; and
WHEREAS, The Fiscal Year 2010 Budget Resolution authorized that the Assessor use not more
than $2,500,000 of "Certified Free Cash" to reduce the Fiscal 2010 Tax Rate; and
WHEREAS, The Agawam City Council authorized and appropriated $65,000 from the Agawam
Municipal Golf Course Retained Earnings, account 65200-31510 to Fund Balance Appropriations,
account 65210-48500; and
WHEREAS, the Massachusetts Department of Revenue Certified the Town of Agawam's Free
Cash and the Agawam Municipal Golf Course Retained Earnings as of July 1, 2009 on October
13, 2009; and
NOW THEREFORE, THE AGAWAM TOWN COUNCIL 14EREBY RESOLVES AS
FOLLOWS:
I. That the Assessor use not more that $2,500,000 of "Certified Free Cash" to reduce the
Fiscal 2010 Tax Rate.
2. The Agawam City Council hereby resolves, authorizes and appropriates $65,000 from the
Agawam Municipal Golf Course Retined Earnings, account 65200-315 10 to Fund Balance
Appropriations, account 65210-48500.
FRONITHE.DFSK OF...
LA URFi.A.PI.ACZEK
TREASURER-COLLEC-MR
TowN or AGAWAM
36 MAIN STREET
AGAWAM,MAOIOOI-1837
(413)786-0400 EXTENSION 220
Fax� (413)786-9927
Page I of 2
barbara bard
From: Laurel Placzek
Sent: Monday, November 16, 2009 10:15 AM
To: barbara bard
Cc: Mayor Susan R. Dawson; Cheryl StJohn
Subject: RE� TR-2006-47 referred to Finance Comm/Free Cash Authorization
Dear Barbara,
Here are the certified free cash and retained earnings figures for the last three years:
07/01/09 Certified 10/13/09 07/01/08 Certified 10/06/08 07/01/07 Certified
11/29/07
Free Cash $6,824,712 $5,823,815 $4.753,178
Water Enterprise Fund 2,645,148 2,109,972 1,671,919
Sewer Enterprise Fund 1,602,539 n/a n/a
Golf Enterprise Fund 244,532 104,798 180,007
We will most likely be appropriating additional free cash next June as part of the FY201 1 budget, as we usually use some free
cash to reduce the tax rate.
Please forward this to members of the Finance Sub-Committee.
Thankyou.
Laurel
From: barbara bard
Sent: Monday, November 16, 2009 8:15 AM
To: Laurel Placzek
Subject: FW: TR-2009-47 referred to Finance Comm/Free Cash Authorization
Hi Laurel. I am forwarding Councilor Rossi's request to you and will call you later on this morning, If you could just email the info
to me I can also make copies for tonight in case anyone else requests it. Thanks and happy birthday to your hubby
Make it a great day!
�Baz&w
Barbara A. Bard
Administrative Assistant to the City Council
36 Maiii Strvet
A-awain, MA. 01001
(413) 786-0400 x233
(413) 789-9927 fax
bbardna agawam.ma.us
From: Robert Rossi [mailto:ltrer@msn,com)
Sent: Saturday, November 14, 2009 7:50 AM
To: barbara bard
Subject: Re: TR-2009-47 referred to Finance Comm/Free Cash Authorization
11/16/2009
Page 2 of 2
Barb,, Thanks for the information.. However, I would like to know "how much free cash
and retained earnings" were certified by the DOR on October 13, 2009. The last certified
number of retained earnings I remember prior to July 1st, was 6.8 million, give or take a few
pennies.. I would like to know the current certification level and the probably factor that we
will not be dipping into it next June. Laurel can e-mail it to me directly or she can give it to
you to e-mail me.
If you feel unconfortable with this, it's not a problem, I can do it monclay morning..
Thanks, Just let me know..
B
..... Original Message -----
From: barbara bard
To: Youn , Robert M LgQu�Lines M Ln cilizL labr�ese � Rot� rt nn is, Pprry.
Sent: Friday, November 13, 2009 9:00 AM
Subject: TR-2009-47 referred to Finance Comm/Free Cash Authorization
Attached is a memo of back up for this resolution. Laurel Placzek cannot be at the meeting so she wanted to make sure you
received this. I will bring hard copies to the meeting for everyone. Thanksi
Confidentiality Statement
This Town of Agawam electronic iftssage mung with aiLy corresponding atlachnients may commm privileged o�confideriliai itliorniation.This infoirnation is toT ilie use Of
the intended recipient(s)Only.Any disclOSUre.copying.(Wribution,oi use of ino contents.ol this message in aiiy maniier is strictly prohibited by Rnyooa cithiar tlian tlic.,
intended roctpient(s) If you have received this email in error notify tha iender immediately by email and delete all copies from Your oetwor�
11/16/2009
Page I of 2
barbara bard
From. Laurel Placzek
Sent: Monday, November 16, 2009 10:15 AM
To: barbara bard
Cc: Mayor Susan R. Dawson; Cheryl StJohn
Subject: RE: TR-2009-47 referred to Finance Comm/Free Cash Authorization
Dear Barbara,
Here are the certified free cash and retained earnings figures for the last three years:
07/01109 Certified 10/13/09 07/01/08 Certified 10/06/08 07/01/07 Certified
11/29/07
Free Cash $6,824,712 $5,823,815 $4,753,178
Water Enterprise Fund 2,645,148 2,109,972 1,671,919
Sewer Enterprise Fund 1,602,539 n/a n/a
Golf Enterprise Fund 244,532 104,798 180,007
We will most likely be appropriating additional free cash next June as part of the FY2011 budget, as we usually use some free
cash to reduce the tax rate.
Please forward this to members of the Finance Sub-Committee.
Thank you.
Laurel
............ ............ ....... ......
From: barbara bard
Sent: Monday, November 16, 2009 8:15 AM
To: Laurel Placzek
Subject: FW: TR-2009-47 referred to Finance Comm/Free Cash Authorization
Hi Laurel. I am forwarding Councilor Rossi's request to you and will call you later on this morning. If you could just email the info
to me I can also make copies for tonight in case anyone else requests it. Thanks and happy birthday to your hubby
Make ita great day!
,q4ZLM
Barbara A. Bard
Adniiiiistrative Assistant to the City Council
36 Main Street
11--gawam, MA. 01001
(413) 786-0400 x233
(413) 789-9927 fax
bbardna.nawain.mams ....*..................
From: Robert Rossi [maj Ito:Itrer@msn.coml
Sent: Saturday, November 14, 2009 7:50 AM
To: barbara bard
Subject: Re: TR-2009-47 referred to Finance Comm/Free Cash Authorization
11/16/2009
Page 2 of 2
Hi Barb,, Thanks for the information., However, I would like to know "how much free cash
and retained earnings" were certified by the DOR on October 13, 2009. The last certified
number of retained earnings I remember prior to July 1st, was 6.8 million, give or take a few
pennies., I would like to know the current certification level and the probably factor that we
will not be dipping into it next June, Laurel can e-mail it to me directly or she can give it to
you to e-mail me.
If you feel unconfortable with this, it's not a problem, I can do it monday morning..
Thanks, Just let me know..
B
-----Original Message
From: barbara bard
To: Young, Robert M Cq5 s) iqse p
qsi�ness _h_Minpq ; ��ecilia_�alaljreaq ; &Q_�ert_RQ I : Qqnnis P"r
s5�
Sent: Friday, November 13, 2009 9:00 AM
Subject* TR-2009-47 referred to Finance Comm/Free Cash Authorization
Attached is a memo of back up for this resolution. Laurel Placzek cannot be at the meeting so she wanted to make sure you
received this. I will bring hard copies to the meeting for everyone. Thanks!
Confidentiality Statement
This Town of Agawarn electronic message aiong with any correSporiding attachments may cantain privileged or confidential information.This infoinnatton is fol the use of
the intended recipient($)only.Any disclosure,copying,distribution,or use of lhe conlents of this message m any manner is strictly prohibited by anyone other(lian the
intended recipient(s).If you have received this email in error.notify the sender iminediately by ernail and delete all copes froill your network.
11/16/2009
TR-2009-47
A RESOLUTION CONFIRMING THE ORIGINAL AUTHORIZATION
OF THE USE OF FREE CASH AND RETAINED EARNINGS
IN THE FISCAL YEAR 2010 ANNUAL OPERATING BUDGET
WHEREAS, the Fiscal Year 2010 Annual Operating Budget for the Town of
Agawam was adopted by the Agawam Town Council on July 27, 2009;
WHEREAS, the eighth paragraph of the Fiscal Year 2010 Budget Resolution
(TR-2009-16) authorized the Assessor'to use not more than $2,500,000.00 of"Certified
Free Cash" to reduce the Fiscal 20 10 Tax Rate;
WHERE-AS, in the ninth paragraph of the Fiscal Year 2010 Budget Resolution
(TR-2009-16), the Council appropriated $65,000.00 from the Agawam Municipal Golf
Course Retained Earnings Account (65200-31510) to Fund Balance Appropriations
Account (65210-48500);
WHEREAS, the Commonwealth of Massachusetts Department of Revenue
certifications of the town's "Free Cash" and Agawam Municipal Golf Course Retained
Earnings had technically lapsed at the end of Fiscal Year 2009 on June 30, 2009;
WHEREAS, the Commonwealth of Massachusetts Department of Revenue
completed its annual certification of the town's "Free Cash" and the Agawam Municipal
Golf Course Retained Earnings on bctober 13, 2009; and
WHEREAS, since the Commonwealth of Massachusetts Department of
Revenue certifications of the town's "Free Cash" and Agawam Municipal Golf Course
Retained Earnings had technically lapsed on the date of the Council adoption of the
Annual Operating Budget on July 27, 2009, it is necessary for the Council to confirm its
"Free Cash" and Agawam Municipal Golf Course Retained Earnings votes now that the
Commonwealth of Massachusetts Department of Revenue has completed its annual
certification of the town's"Free Cash" and the Agawam Municipal Golf Course Retained
Earnings; and
NOW THEREFORE, THE AGAWAM CITY COUNCIL HEREBY
RESOLVES TO CONFIRM ITS PRIOR VOTE TAKEN ON JULY 27, 2009 AS
FOLLOWS:
I- That the Assessor use not more than $2,500,000.00 of "Certified Free Cash" to
reduce the Fiscal 2010 Tax Rate; and
2. That $65,000.00 is hereby appropriated from the Agawam Municipal Golf Course
Retained Earnings Account (65200-31510) to Fund Balance Appropriations
Account(65210-48500).
DATED THIS DAY OF , 2009.
PER ORDER OF THE AGAWAM CITY COUNCIL
Gina M. Letellier, President
APPROVED AS TO FORM AND LEGALITY
Christopher C. John , Solicitor