Springfield finance | WAMC

Springfield finance

The new fiscal year for Massachusetts municipalities started today, and Springfield has a new budget – minus some money for its police department. 

the front door of Springfield Police Headquarters
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       With a national debate raging over policing, some elected officials in the largest city in western Massachusetts say now is not the time to spend money for a police department shooting range.

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With the start of the new fiscal year just days away on July 1st, the Springfield City Council will meet Monday to consider passing a budget.

As the COVID-19 pandemic continues, red ink is mounting for cities and towns.

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     What does the largest city in western Massachusetts do with the millions of dollars it gets every year from its single-largest taxpayer?     It was a question City Councilors in Springfield asked at a joint committee meeting Tuesday.

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More money is being put into the retirement system for public employees in the third-largest city in Massachusetts.  But it will barely make a dent in what is the worst unfunded municipal pension liability in the state.  

Mayor Domenic Sarno urges the City Council to approve his proposed budget, as department and agency heads look on.
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The largest city in western Massachusetts has a new budget in place for the fiscal year that starts July 1st.   

The dean of the city council in Springfield, Massachusetts says he is calling it a career. 

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         A new budget proposed to operate the largest city in western Massachusetts would put more cops on the streets and more cash into the city’s savings account.  It also reflects a rebounding Springfield housing market after the foreclosure crisis of nearly a decade ago.

Officials in Springfield, Massachusetts have taken steps to shore up the city’s severely underfunded municipal employee pension fund.

Red flags have been raised about the pension fund for public employees in the third-largest city in Massachusetts.

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The third-largest city in Massachusetts will have a balanced budget in place when the new fiscal year arrives July 1st.  The Springfield City Council Monday night adopted intact the budget proposed by Mayor Domenic Sarno.

It is approaching crunch time for municipal budgets in Massachusetts where the fiscal year ends June 30th.  A new budget to run the state’s third-largest city is expected to be finalized later today.

The Springfield City Council has scheduled a special meeting Monday evening to vote on a budget for fiscal year 2016, which starts on July 1st.

New property tax rates have been set in Springfield, Massachusetts.  For the first time in many years, the rates for both homeowners and business property owners have been reduced, as property values continue to recover from the Great Recession

MGM Springfield

Millions of dollars from MGM Resorts will start flowing soon to Springfield and other western Massachusetts communities.  MGM is obligated to make the payments years before the $800 million casino it is building in downtown Springfield opens.

Now that MGM Resorts has been awarded a casino license by the Massachusetts Gaming Commission -- a formality that had been delayed for months by the ill-fated effort to repeal the casino law on Election Day — the company must honor development agreements with Springfield and surrounding communities.

Massgaming.com

Gaming industry regulators in Massachusetts have announced a revised timetable for issuing resort casino licenses.  Delays are costing the state and municipal governments gaming revenue that budget writers had counted on receiving by now.

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The mayor of Springfield, Massachusetts is proposing a city budget that he says leaves him in a good mood after years of belt tightening.  The president of the city council is promising a speedy, but thorough review of the spending plans. 

Springfield Mayor Domenic Sarno is recommending a $582 million budget for the new fiscal year that he says will maintain essential services, result in no layoffs of municipal workers, and fund public safety academies to fill vacancies in both the police and fire departments. 

" I'm in a good mood," said Sarno.