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Date: 8/15/2023
HOLYOKE — In a continued effort to improve coordination among the city’s financial departments, Mayor Joshua Garcia has recently commissioned a Financial Policy Manual to address planning and day-to-day operations, and the manual initiative aligns with frequently articulated council wishes.
The state Division of Local Services Financial Management Resource Bureau developed the manual, which provides a comprehensive set of policies and procedures for Holyoke.
Garcia said in his weekly “From the Mayor’s Desk” update that when he sought office, he had a “dollars-and-cents ambition: to strengthen internal controls and better manage our municipal finances.” He added that he strongly believes in order to achieve this and improve the quality of life for citizens, Holyoke must cultivate a culture of responsible management, face-to-face communication and a commitment to protecting city assets and resources.
The 99-page guide is divided into two parts as the first section looks at financial planning policies and the second outlines day-to-day operations. Advice in the manual is based on municipal best practices. The policies draw on existing practices in Holyoke, incorporating them into one guide.
“The guidelines, metrics and benchmarks spelled out in the manual are drawn from state regulations and best practices. Once confirmed by the City Council, they will become municipal law enshrined in the city ordinances,” said Garcia and At-large Councilor Kevin Jourdain in a joint statement.
Garcia added they were keeping the promise from his campaign of bolstering internal financial controls and the city’s bond rating. Jourdain, also a Finance Committee member, assisted in the development of the manual and will present the manual to the full City Council for review and consideration.
Jourdain said the financial policies established in the manual need to become city ordinances. He added the goal is to codify best practices for the offices of tax collector, treasurer, auditor and assessor so that they remain in effect irrespective of who is mayor or who is serving on the City Council. Garcia agreed with Jourdain’s assessment.
The introduction to the manual affirmed the wisdom of an approach that would “bring together the city’s siloed financial management functions of accounting, assessing, treasury and collecting under one centralized organizational framework,” according to the mayor’s weekly update. “This singular point of contact and oversight for financial management is needed for a community the size and complexity of Holyoke to give the elected policy makers an opportunity to implement the core financial management practices detailed in these polices, including capital planning, financial forecasting and budgeting.”
Once confirmed by the City Council, the manual will become municipal law enshrined in the city ordinances.
“I appreciate their [Garcia, DLS, various department heads] leadership and hard work. I look forward to my colleagues and I in reviewing these important policies and getting these codified into our ordinances. This is really important for our future financial strength as a city that also gives our resident the type of government they deserve,” Jourdain said.
The manual assigns responsibilities within the city’s financial operation, including for the chief administrative and financial officer – a position that is known by the acronym CAFO within city discussions. Under the supervision of the mayor this position would oversee financial matters.
The DLS has implored the city to create the position as recently as when the Massachusetts School Building Authority approached construction and funding for the new middle school building. The DLS suggested Holyoke unify financial management functions, including roles related to accounting and assessing. However, the council previously rejected a budget request by the mayor to create the position as there was some work to be done, such as creating a financial policy manual, before officially bringing the position into the city.
The public is invited to review and offer comments on the manual. To review, visit https://docs.google.com/document/d/1ujhJxGsrjg7r9m9ucth_cLYzRhUs10Rp/edit?usp=sharing&
ouid=116914758029716249319
&rtpof=true&sd=true. Send any comments to mayorsoffice@holyoke.org as well as the reviewing process continues.