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A Plan to Balance Natick’s Budget
Summing Things Up
Budget Balancing Suggestions
These innovative methods for controlling costs, while protecting services,
offer focused expense reduction strategies that will :
 |
Reduce deficit spending in the town immediately, |
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Correct duplicate administrative spending between the schools and Gen
Government. |
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Focuses budget increases to core and mandated areas |
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Strategically reduce expenses over time |
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Maintain Core Service levels |
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Proposed Plan for Balancing The Budget |
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Short Term Strategies
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|
Suggestion |
Approach |
Anticipated Savings |
| |
|
|
|
Freeze All Overtime |
Restrict OT Except Emergency |
$1,000,000 |
|
Operating Budget Control |
Implement 5% Reduction in Budget
Schools
General Government |
$500,000
$150,000 |
|
Wage Controls |
Limit COLA for 2009/2010 to 3%
Schools
General Government |
$300,000
$500,000 |
|
Total Possible Short Term Savings |
|
$2,450,000 |
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|
|
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Midterm Strategies |
|
Planned Staff Attrition |
Each year Natick retires on aver. 25 Employees. Do not
fill 25% of these positions (Using an aver salary of $50k and benefits of
$15k) |
$400,000 |
| Total Possible Midterm Savings |
|
$400,000 |
|
Longer Term Strategies |
|
Implement Expense Control
Task Force Recommendations |
Implement Shared
Services and Consolidation
Recommendations from Expense Control Task Force |
$500,000 |
|
Update Employee Health
insurance Plans |
Explore working putting
in place GIC plan similar to Weston or a West suburban Plan similar to
Wellesley |
$800,000 |
| Total Possible Long term Savings |
|
$1,300,000 |
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