DataStat Newton



Outcome #7 – Long-Term Financial Stability
Long term financial stability evident through maintenance of the City of Newton’s Aaa Bond Rating, improved financial reserves, annual unqualified audit opinions, conservative financial forecasting, implementation of comprehensive financial policies, elimination of the “structural deficit”, reduction of non-recurring funding sources to balance the annual budget, and appropriate investment in capital infrastructure

Strategy for Achievement
For the past four years the Executive Team has worked with the financial departments of the City to position the City for long-term financial stability. Efforts in this area include the successful negotiation of all 17 Collective Bargaining Agreements, the implementation of zero-based budgeting, the introduction of outcomes-based management, the establishment of the City’s Rainy Day Stabilization Fund, the development of a five-year financial forecast, the unveiling of the City’s one-of-a-kind interactive database and Capital Improvement Plan, the implementation of aggressive collections policies, and the adherence to the City’s Financial Management Guidelines and Internal Controls.

This year the City will continue to advance its long-term financial position; by investing in areas that address long-term liabilities, reviewing internal policies and procedures, revising collection and disbursements functions in outlying departments, implementing new policies in Human Resources and IT, and revising the City’s procurement ordinances. 

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August 2017 Data
Assessing
Metric Goal Result Trend
% of abatements applied for  (Less than 5%)  Less Than 5% Not Applicable    
% of assessment challenges made to Appellate Tax Board per fiscal year (Less than 25% )  March-July Cumulative Less Than 25% 9%    NEEDS IMPROVEMENT
% of assessment challenges upheld by Appellate Tax Board (More than 80%)   Not Applicable    
# exemptions applied for (rolling total August -April)   241    
# of exemptions issued (rolling total December - June)   Not Applicable    
Procurement
Metric Goal Result Trend
Amount of $ saved through prompt pay discount $0 $549    GOAL ATTAINED
Amount of $ lost through prompt pay discount $0 $418    NEEDS IMPROVEMENT
Amount of $ saved by going out to bid   $2,282,378    GOAL ATTAINED
Treasury
Metric Goal Result   Trend
# of excise refunds received   196    
# of excise refunds processed within 2 weeks of adjustment issuance 100% 194    GOAL ATTAINED
DPW: Utilities
Metric Goal Result Trend
# of HCF's purchased (Hundred Cubic Feet (750 gallons))   435,901    
# of HCF's billed 2590092 335,043    
Amount of unaccounted for water (monthly) 12% 23%    

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