Research Bureau focuses on risks of increasing revenue estimates

Full and original posted on Worcester Magazine

The Worcester Regional Research Bureau has weighed in on a budget maneuver that would save taxpayers money this year by increasing the optimism of revenue estimates, saying “past performance is not an indicator of future success” and urging caution when assuming local receipts will continue to remain high.

“Last week, we called on this Council to craft a clear strategy toward taxing Worcester’s property owners,” WRRB Executive Director Tim McGourthy wrote in a letter to be delivered to the City Council. “Instead of furthering that goal, the December 12 proposal appears to undermine the City’s Five Point Financial Plan, increasing the risk of budget shortfalls and potentially damaging the City’s bond rating.”

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