This primer is drawn from and summarizes the key findings and recommendations of the Foundation Budget Review Commission. The report, issued 30 October 2015, represents more than a year of work by the 21 members of the Commission. Members and staff of the Commission are noted in Appendix B.

Wednesday, April 6, 2016 — 7:45AM Worcester County Registry of Deeds 90 Front Street, Worcester

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.

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.

Wednesday, November 12, 2014 7:45-9:00 A.M. Registry of Deeds, 100 Front Street

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?

Wednesday, November 6, 2013 7:45-9:15 a.m. Worcester City Hall, Levi Lincoln Room

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.

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.

March 12, 2013 Registry of Deeds