City of Somerville, Massachusetts - File #: 203380

• File #: 203380
• Version: 1
• Type: Resolution
• Status: Approved
• File created: 5/9/2017
• In control: City Council
• On agenda: 5/11/2017
• Final action: 7/13/2017
• Enactment date: 5/11/2017
• Enactment #: 203380
• Title: That the Administration work with this Board to hire an independent financial consultant to review the actual and proposed increases in debt and prepare a risk analysis, including the amount of new growth required to support that debt, while accounting for projected spending increases in the remainder of the budget.
• Sponsors: William A. White Jr., Katjana Ballantyne

Date	Ver.	Action By	Action	Result
7/13/2017	4	City Council	Work completed
7/11/2017	3	Finance	Approved
5/11/2017	2	City Council	Approved

  Agenda Text

title

That the Administration work with this Board to hire an independent financial consultant to review the actual and proposed increases in debt and prepare a risk analysis, including the amount of new growth required to support that debt, while accounting for projected spending increases in the remainder of the budget.

body

Official Text

That the Administration work with the Board of Aldermen to hire an independent financial consultant to review the actual and proposed increases in debt for the City of Somerville and prepare a risk analysis, including the amount of new growth in the city that will be necessary to support the new debt, and accounting for increases in the remainder of the budget with projected spending scenarios.