EACH YEAR on July 1, Massachusetts cities and towns must implement a new budget. The City of Worcester’s Fiscal Year 2018 (FY18) budget takes effect on July 1, 2018. Municipal budgets must balance—expenditures cannot exceed revenues.
See More...In order to further the Worcester City Council’s deliberations on tax policy, The Research Bureau is pleased to present a White Paper on criteria for consideration in preparation of annual tax rate determinations and alternatives to secure a more equitable single tax rate.
See More...In Massachusetts, state and local government retirees are eligible for pension and other post-employment benefits (OPEB), such as health care. Since these obligations are accrued daily but not due for decades in some cases, policymakers discount the cost and ultimately push the expense onto future generations.
See More...Since 1984, the City of Worcester has set residents against businesses in an annual duel over property tax rates. As municipal budgets continue to grow, a zero-sum game exists in which a decrease in taxes on one property class necessitates an increase in taxes on another.
See More...The Research Bureau offers its annual Breaking Down the Budget: Questions to Consider – a summary and analysis of the City of Worcester and Worcester Public Schools Fiscal Year 2017 Budgets, which go into effect on July 1, 2016.
See More...Each July 1, the City of Worcester and Worcester Public Schools begin a new fiscal year. Who sets the priorities and how is the budget developed? How much money are we really talking? Read Breaking Down the Budget: Questions to Consider to improve your understanding of the City’s FY16 budget.
See More...The City of Worcester, like most municipalities, has struggled with outstanding pension and other post-employment benefit (OPEB) liabilities. While the City is engaged on a plan to fund its pension obligations by 2032, there is no plan in place to address the more than $727 million owed for OPEB, which mainly consists of retiree health care costs.
See More...Each July 1, the City of Worcester and Worcester Public Schools begin a new fiscal year. Who sets the priorities and how is the budget developed?
See More...This report looks at Worcester’s FY14 budget of $563 million and suggest how Worcester can continue to balance its budget while facing increasing school, healthcare, and pension system costs.
See More...This report addresses a crisis local governments are facing across the nation: how to pay for OPEB – “other post-employment benefits” that were promised to retirees in better fiscal times.
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