State Legislation allowing Lawrence to deficit borrow to balance the 2010 and 2011 city budgets to be decided on by the state legislature.

Posted on 03. Feb, 2010 by ywwlawrence in Homepage, Register to VOTE

In order to meet a 24.5 million dollar budget shortfall in the City of Lawrence the State Legislature will soon be debating and voting on a bill, written by Governor Deval Patrick, which (as stated in the bills introduction):

• Allows the city to borrow into deficit to balance its fiscal year 2010 and 2011 budgets, thus allowing it to generate a steady cash flow, and to meet payroll and other commitments.
• Increases state oversight of city finances by providing for a state designated fiscal overseer working cooperatively with the new mayor and city council.  The overseer will report directly to the Secretary of Administration and Finance.
• Requires the overseer to assess the ability of City government to manage the City’s fiscal challenges and develop a three year financial plan.
• Requires the City to act to move to GIC or a regional health purchasing group if it will save the city money.
• Requires the City to consolidate municipal and school business functions.
• Provides that, if the City is not able to balance its fiscal year 2011 budget before January 31, 2011, the overseer shall report this, as well as the underlying reasons, to the Secretary of Administration and Finance.  At any time after January 31, 2011, if the state overseer shall report this in writing to the Secretary, and the Secretary may appoint a finance control board with extensive powers.

Follow this link to read the complete text of the bill.  An Act PROVIDING FOR THE FINANCIAL STABILITY OF THE CITY OF LAWRENCE

Also more information can be found by contacting the following State and City Officials. 

Governor Deval Patrick 617.725.4005, 888.870.7770

State Senator Susan Tucker (617) 722-1612, Susan.Tucker@state.ma.usState

State Representative Barry Finegold 617-722-2263 Rep.BarryFinegold@hou.state.ma.us

State Representative William Lantigua 617-722-2810, Rep.WilliamLantigua@hou.state.ma.us

State Representative David Torissi 617-722-2013, 978-682-5644 Rep.DavidTorrisi@hou.state.ma.us

Mayor William Lantigua 978-620-3010