CITY OF WORCESTER | Finance Committee Meeting | Tuesday, April 28, 2015 | Esther Howland (South) Chamber | Convened: 8:04 P.M. | Adjourned: 9:10 P.M. |
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Mayor
Joseph M. Petty | 
www.worcesterma.gov |
Clerk of the City Council
David J. Rushford | Committee Members | | Chairperson Joseph M Petty | | Councilor Morris A Bergman | | Councilor Tony Economou |
| | Councilor Michael T Gaffney | | Councilor Konstantina B Lukes | | Councilor Philip P Palmieri | | Councilor Sarai Rivera | | Councilor Gary Rosen | | Councilor Frederick C Rushton | | Councilor George J Russell | | Councilor Kathleen M Toomey |
City Hall - 455 Main Street Worcester, Massachusetts | |
| Present Were: | All members present with the Mayor as Chair | | | | | Also: | City Manager Edward M. Augustus, Jr.
Chief Financial Officer Thomas F. Zidelis
Budget Director Jarrett Conner
City Clerk David J. Rushford, clerk | | | |
| 1. | Communications of the City Manager | |
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| | | 1a. | Transmitting informational communication relative to the City's revenues through December for Fiscal Year 2015 per the City's Five Point Plan.
# 9.24A CM February 24, 2015
In Committee March 31, 2015 - Held
| Attachments | | | | | | | Recommend Hold | |
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| | | 1b. | Transmitting informational communication relative to the most recent actuarial valuation of the City's Other Post Employment Benefits (OPEB) as prepared by KMS Actuaries, LLC.
# 9.24B CM February 24, 2015
In Committee March 31, 2015 - Held
| Attachments | | | | | | | Recommend Hold | |
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| | | 1c. | Transmitting informational communication relative to the City's revenues through January for Fiscal Year 2015 per the City's Five Point Plan.
# 9.28A CM March 10, 2015
In Committee March 31, 2015 - Held
| Attachments | | | | | | | Recommend Hold | |
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| | | 1d. | Transmitting informational communication relative to a presentation to discuss the recent OPEB valuation.
# 8.34E CM April 28, 2015 | Attachments | | | | | | | Linda L Bournival, FSA, Consulting Actuary for KMS Actuaries, LLC gave a presentation to City Council and was available to answer any questions from the committee members.
Recommend Hold | | | | | | | | Chairman's Orders | | | | Request City Manager request the Consulting Actuary of KMS Actuaries, LLC to provide City Council with a report showing the impacts to the OPEB liability if proposed legislation (HB 59) regarding design changes for retirees health care were adopted at the state level. (Rushton) | | | | Request City Manager report what is the Worcester Public Schools portion of the current OPEB liability. (Economou) | |
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| | | 2a. | Order of Councilor Michael T. Gaffney request City Manager consider amending the Five Point Financial Plan to require that any increases in local aid received from the Commonwealth be assigned to the Other Post Employment Benefit Trust Fund.
# 12b CC June 17, 2014
In Committee March 31, 2015 - Held
| Attachments | | | | | | | Recommend Hold | |
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| | | 2b. | Order of Councilor Konstantina B. Lukes request City Manager report on any savings which would result from job and salary freezes in the next budget including savings from such freezes in the city enterprise accounts.
# 11n CC April 14, 2015 | Attachments | | | | | | | Recommend Hold | |
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| | | 2c. | Petition of Bill McNally et al request City Council to add one more teacher to the Norrback Avenue School's budget for next year.
# 9l CC April 14, 2015 | Attachments | | | | | | | Recommend Hold | |
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