Every tax is a pay cut.  Every tax cut is a pay raise. Citizens for Limited Taxation

Framingham's Long Term Financial Report 2011 - 2015

Click on any image to enlarge. First, there is the budget gap. This budget gap does not include any OPEB funding (see last page). In essence, the budget gap is significantly bigger.... like $20 million for the fiscal year 2011, starting on July 1, 2010. I understand that the town departments have been advised to prepare budgets that have 4% and 8% cuts. I might suggest culling the large herd of public employees by 10%. Cummulative information from the annual reports on the retirement fund shows that the herd has significantly expanded in recent years. There exists in the British Museum a plaintive letter written on papyrus in A.D. 288, signed by Servaeus Africanus, addressed to the district governors of Middle Egypt and reading as follows: It is apparent from the accounts alone that a number of persons wishing to batten on the estates of the Treasury have invented titles for themselves such as controllers, secretaries or superintendents, whereby they procure no advantage to the Treasury but swallow up the profits. (Papyrus 752) General Fund revenues by type. General Fund alternative revenues by type General Fund expenditures. This does not include OPEB (see last page). Pension funding schedule Other Post Employment Benefits (OPEB) funding schedule.

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