VIDEO: Moore wants Quincy to begin long-term budgeting
3 months ago by Bob Gough
Alderman and mayoral candidate says the City needs to plan on how to pay for equipment and infrastructure
Quincy mayoral candidate Alderman Kyle Moore says the city needs to budget in five year increments in order to be ready for problems that may occur down the road.
Moore, a Republican 3rd Ward alderman, laid out his plan in a news conference at his Maine Street campaign headquarters Wednesday morning.
“I don’t know of too many $30 million a year corporations that operate on a year to year basis,” Moore said. “The budget that we pass every year will be just one part of an overall strategic plan that is formed with citizens and the leaders of our city. The budget process will start months before our current schedule, with input from the City Council, department heads and citizens on priorities over a 5 year period.”
Moore said doing this will enable the city to set aside funds for major expenses like equipment and infrastructure.
“Our commitment to infrastructure ebbs and flows based on the financial constraints of our general budget,” Moore said. “I believe we should use the surplus we collect in home rule sales tax versus the year prior to be placed in a dedicated infrastructure fund.”
Moore said had the City already had this plan in place, there could have been an additional $1.7 million spent on infrastructure.
Moore wants to develop an infrastructure plan that would be fiscally responsible and meet the City’s needs. He said he also wants to reduce the City’s unsupported debt.
“All too often we have borrowed money without a plan that dedicates revenue to pay off the debt. There will be problems that arise, such as our combined sewer overflow repairs, that may require borrowing, but we will identify a revenue stream or budgetary savings to account for the future payments,” said Moore. “Any budgetary savings we identify will be placed in an account for our citizens to know we kept our promise.”
The City Council’s Finance Committee heard a plan from the administration this week to refinance some of the City’s bond indebtedness. Mayor John Spring said the refinancing would save more than $200,000.