The town manager has issued a revised fiscal estimate which was discussed with the Finance Committee and Board of Selectmen on May 8th.  Resulting from changes in the Town's health insurance program, the Group Health and Life Insurance budget can be level funded for FY 2009.  This will free up additional funds to be re-allocated among the several municipal and school departments.

• Fiscal Projection Three - FY 2009 05/08/2008

The town manager submitted to the Finance Committee a series of proposed reductions to bring the Fiscal Year 2009 spending plan into balance.  These proposals are made to assist the Finance Committee in forming its recommendations. 

The Finance Committee will begin its deliberations on what form its recommendations will take at their next meeting on March 27th which begins at 7:00 PM with a presentation by the School Committee. 

Mr. Morgado will then present his proposals along with warrant articles being submitted for consideration at the May 19th Annual Town Meeting.  A public hearing on the entire Fiscal Year 2009 spending plan including warrant articles will take place at 7:30 PM on Thursday, April 3, 2008 at 7:300 PM in the Selectmen's Meeting Room.

• Fiscal Year 2009 Budget 03/26/2008

At a March 5th meeting of the School Committee that was attended by the Board of Selectmen and Finance Committee, the town manager outlined his revised fiscal projection for FY 2009.  There will be ongoing discussion of the Town's fiscal picture at a joint meeting of the Board and Finance Committee on March 6th at 7:00 PM in the Selectmen's Meeting Room.

• Fiscal Projection Two - FY 2009

The town manager has filed with the Board of Selectmen and Finance Committee the proposed operational budget for Fiscal Year 2009. The Finance Committee will commence hearings on the proposed budget on February 2nd at 9:00 AM and continue on February 9th also at 9:00 AM. Copies of the budget are available for public inspection in the Offices of the Board of Selectmen, Town Clerk and the Public Library during normal business hours.

• Budget Message & Financial Workshop Materials

Today the town manager filed with the Board of Selectmen and Finance Committee the Capital Budget for the period of FY 2009 to 2013. The filing of the budget is the first step towards the establishment of the FY 2009 spending program for the Town that will be presented at the May 2008 Annual Town Meeting. The full text of the Capital Budget may be viewed in the Offices of the Town Clerk and Town Manager during normal business hours. In addition, a copy will be on file in the Town Library.

• Capital Budget FY 2009 to FY 2013

On November 8, 2007, the Moody's Rating Committee reviewed and assigned to the Town of Shrewsbury a rating of MIG-1 and affirmed the Town's Aa3 Bond Rating.  This action was taken in preparation of the upcoming sale of $13.9 Million in Bond Anticipation Notes

• Moody's Investors Service Bond Rating

At the Board's recent workshop it met with the department heads that work in the public works and public facilities areas to review the Public Works Priority List for 2007-2008.  This annual event in the traditional kick off of the successor budget development process since much of the Priority List will form the Capital Budget for the next five years. Attending this workshop along with the full Board of Selectmen was John Knipe, Angela Snell, Robert Cox, Jack Perreault, Robert Tozeski, Michael Hale and Daniel Morgado and involved a project by project update on each item. 

Recent success in the public works and public facilities areas are the result of this identification and prioritization process which continually evolves on a daily basis as projects are advanced and held based upon current conditions and opportunities.

• Public Works Priority List 2007-2008

SHREWSBURY - The Fiscal Year 2006 audit report has been received by the Board of Selectmen. This report includes the financial detail of all Town transactions, comments of grant funds and awards and make certain management recommendations.

• Report on the Examination of Financial Statement - FY end 06/30/06
• Schedule of Expenditures of Federal Awards and Auditor's Report - FY end 06/30/06