THE REVERE ADVOCATE – FRIDAY, MARCH 3, 2023 Page 3 Mass. Dept. of Revenue certifies $5.9M in free cash; Council holds off transfer to HS Stabilization fund By Barbara Taormina Councillors voted unaniE very year around this time, cities and towns get a financial boost when certified free cash makes it onto the agendas of city councils, boards of selectmen and aldermen. This year, the state Dept. of Revenue’s Division of Local Services certified $5,924,275 in free cash for a 2022 budget surplus for Revere. This week, city councillors voted to squirrel much of that money away in the city’s stabilization accounts and to channel needed funding to city operations. mously to transfer $888,641 from free cash to the city’s general stabilization fund, a rainy day account for deficits and emergencies. They also voted unanimously to move $592,428 from free cash to the Affordable Housing Trust Fund. The Capital Improvement Stabilization Fund received a $1,184,855 cut of free cash. With unanimous votes, councillors moved $250,000 from free cash to the Post-Employment Benefits Trust Fund and $355,470 from Water and Sewer free cash to the Revere City Councillors Respond to Mayor Arrigo’s Response to City Council Vote T he following is a statement from Revere City Councillors Anthony T. Zambuto, Gerry Visconti, Richard J. Serino, Dan Rizzo, Joanne McKenna, and Anthony Cogliandro: In response to the Mayor’s statement on the outcome of the vote of our City Council to not advance the schematic design of the proposed new Revere High School, published in the Revere Journal on March 1, we feel compelled to offer a rebuttal to the residents and taxpayers of the City. When a majority of your City Council – including a former teacher and a former mayor – is voting “no” on advancing a new high school as presented by the Mayor’s Administration, that should raise a serious red flag to the average resident as to the earnest concerns the City Council had about the proposal, and put into question if the proposal presented to our honorable body was truly a prudent one in the best interest of all residents, present and future – particularly from a financial standpoint. Part of the responsibility we have as your City Council is to serve as diligent guardians of the City’s finances, and for us, the question of advancing the schematic design of the new Revere High School was not solely a question of education and legacy – it was a question of the true viability of affordability to the City, especially when the overall projected cost for the construction of the school and the land it would sit on was nearly half a BILLION dollars - this was VOTING | SEE Page 12 Lawrence A. Simeone Jr. Attorney-at-Law ince * Corporate Litigation * Criminal/Civil * MCAD * Zoning/Land Court * Wetlands Litigation * Workmen’s Compensation * Landlord/Tenant Litigation * Real Estate Law * Construction Litigation * Tax Lein * Personal Injury * Bankruptcy * Wrongful Death * Zoning/Permitting Litigation 300 Broadway, Suite 1, Revere * 781-286-1560 lsi eone r si eonelaw net Water and Sewer Stabilization Fund. Councillors also voted to transfer $175,000 to the city’s Sand Sculpting Festival and to use free cash to cover the police patrolmen’s contract. Councillors put off transferring money to the High School Stabilization Fund. “It’s something we’ll utilize to fund some sort of high school,” said City Council President Patrick Keefe. But city CFO Richard Viscay advised the council to hold off. “It seems like we’re back to the drawing board,” said Viscay about the high school project. Like us on Facebook advocate newspaper Facebook.com/ Advocate.news.ma www eig t10 arandgrille co OPEN DAILY FOR DINNER AT 4 PM. CATCH THE CELTICS, BRUINS & NCAA SPORTS ON OUR 6 LARGE SCREEN TV'S! o WE'RE OPEN! 8 Norwood Street, Everett (617) 387-9810 Our 50th Anniversary Dan - 1972 We Sell Cigars & Accessories! C ris 2023 * Travel Humidors * Desk Top Humidors * Many Types of Lighters * Ash Trays * Juuls * Vapes * Glass Pipes * Rewards Program * CBD Infused Products * GIFTS UNDER $30 - GIFT CERTIFICATES R.Y.O. TOBACCO & TUBES ON SALE! NEW STORE HOURS: Mon. - Sat.: 9AM - 6PM Sunday & Holidays: 9AM - 5PM MA C MA Where Premium Quality and Friendly Prices Meet! in les Tins undles o es 170 R C C R 781 289-4959 R R R M O O A TA T AT COM T
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