Proposed Ipswich budget stays within state limits
IPSWICH -- Taxes will go up to pay for the next general government budget, but the proposed budget stays within Proposition 2-1/2 limits.
The proposed 2020-2021 general government budget contains a 1.9% increase, up
Schools will look at their budget separately and began the process at the School Committee meeting last week.
The general government budget Town Manager
Tri-board is a meeting of the Select Board, the
Key elements driving the general government budget include:
--A sanitary waste increase, as the town's contract with JRM allows, of 7.8 percent or
--A 6% projected increase for employee health insurance;
--A 4.29% increase in employee pensions
--An average 2% increase in negotiated employee salaries.
The overall tax levy growth is 3.2%, Finance Director
Marino's budget turned down or reduced requests for hikes asked by some town departments to pay for more staffing.
A police department request for an additional full time officer dedicated to traffic and parking was rejected, as was the Ipswich Public library's request for an additional part time staff member. However, the budget will partially fund a part time archivist. The ReCreation and Culture Dept. asked for
Proposition 2-1/2 keeps the tax levy limit to a 2-1/2% total tax increase, excluding what town managers call "new growth" in the town's tax base, .7 percent this year.
The total tax increase includes the 2.5% state law allows, new growth, individual fluctuations in property values and operational overrides that voters must approve and remain from year to year and debt exclusion overrides that allow the town to pay for a specific project and once the town pays off that project, the override comes off the books.
The budget's OPEB payments -- essentially health care costs for retired employees -- remains separate from the 4.29% increase in employee health care costs in the proposed budget.
The town continues to pay into the OPEB account according to a formula Town Meeting approved.
The formula includes:
.25% of the figure for total employee salaries
25% of any figure over
The OPEB account now stands at
The town maintains a
"We're in good shape when it comes to OPEB," Johnson said. "A lot of communities are not funded at all. When it comes due, we've got a nice nest egg to address this liability."
___
(c)2020 Wicked Local North, Danvers, Mass.
Visit Wicked Local North, Danvers, Mass. at northofboston.wickedlocal.com
Distributed by Tribune Content Agency, LLC.


Connecticut Homeowners Again Seek FEMA Help For Crumbling Foundations
Asian Shares Rise Despite Continuing Virus Fears
Advisor News
- What to discuss during the first retirement planning meeting
- Inflation, competing priorities and uncertainty erode retirement security
- As health premiums rise, 1 in 8 workers cut retirement savings
- CT governor’s candidates claims: What’s true, and what’s misleading
- Retaining clients by giving them a memorable experience
More Advisor NewsAnnuity News
- National Life Group expands annuity portfolio
- AM Best to Join Life/Annuity Insurance-Focused Panel Discussion at Capitol Forum Event
- USAA Earns No. 1 Ranking in JD Power Individual Annuity Study for the Third Consecutive Year
- How flexible annuities fit today’s retirement portfolios
- Foresters Financial appoints Tom Ross as chief distribution officer for U.S. annuity sales
More Annuity NewsHealth/Employee Benefits News
- Medicare Plus supplement vs. Medicare Advantage (Maybe) 2026– Healthful Hints
- ‘Medically frail’ Medicaid enrollees won’t have to prove their inability to work to keep coverage
- IMPLEMENTATION OF IMMIGRANT ELIGIBILITY RESTRICTIONS FOR ACA MARKETPLACE SUBSIDIES UNDER THE 2025 RECONCILIATION LAW: ISSUES TO CONSIDER
- ACA HEALTH INSURANCE RATES RELEASED FOR 2027 OPEN ENROLLMENT
- HEALTH INSURERS AND PHARMACY BENEFIT MANAGERS URGED TO ASSIST FAMILIES AFFECTED BY LULU M. ROSS ELEMENTARY SCHOOL FIRE
More Health/Employee Benefits NewsLife Insurance News