FRBMeeting_9-23

7/29/2019 FRBMeeting_9-23

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September 23, 2013

Financial Restructuring Board for Loca

Governments Meeting


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All information included in thispresentation may be found on the

Boards website:

www.frb.ny.gov


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Statutory Overview


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Ch. 67 of the Laws of 2013 Created to assist distressed municipalities by develop

targeted recommendations and assistance

The Board has two primary functions and responsibil

Comprehensive Review

Binding Arbitration


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Comprehensive Review The Board may review a municipality's operations, fin

management practices, economic base, and any othe

factors to make findings and recommendations on ref

and restructuring its operations

A Comprehensive Review must be requested with the

of the municipalitys governing body and its chief exe

Certain municipalities are automatically eligible


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Comprehensive Review

Other municipalities may apply and provide justification a

they would benefit from the Boards services

The Board may offer grants or loans up to $5 million tomunicipalities upon implementation of Board recommen

Board recommendations must be finalized within six monaccepting a municipalitys application for services

The Board is not required to perform a Review for every a


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Binding Arbitration The Board is also authorized to resolve an impasse sub

binding arbitration (e.g. for police and fire bargaining

A Binding Arbitration Determination must be requested with

concurrence of the municipality and the public employee org

Determinations would be final and binding on both parties us

same criteria as the existing binding arbitration law

The Boards Determination would be finalized within six mon

Determinations may not be for a period longer than four yea


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Eligibility


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Fiscally Eligible Municipalities Certain municipalities are automatically a Fiscally Elig

Municipality if they meet one of two criteria:

A five year average full value property tax rate a75th percentile for all municipalities statewide

A five year average General Fund balance belowpercent of total expenditures

Any municipality that has not reported the informatinecessary to calculate these averages to OSC cannot deemed a Fiscally Eligible Municipality


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Fiscally Eligible Municipalities

TotalAutomaticall

Eligib

Counties 57 8

Cities 61 44

Towns 932 149

Villages 550 188

Total 1,600 389


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Applying for Board Services

h i i


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Comprehensive Review Municipalities apply through the Board Website: www.f

Upon receipt of an application, staff will immediately re

make a recommendation to the Board regarding accept

The Board will meet on a regular basis to ensure timely

C h i R i
http://www.frb.ny.gov/http://www.frb.ny.gov/


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Comprehensive Review Municipalities submit the following information :

Municipalities encouraged to submit any additional r

information to assist in the Comprehensive Review

Requesting Resolution Contact Information

Budget, Financial Plan, Financial Statements Organizational Chart an

Economic Conditions Areas of Opportunity

Existing shared services

Current Labor Agreements & Employee Health Insurance Contribution In

Bi di A bit ti


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Binding Arbitration

Municipalities and Public Employee Organizations mu

mutually agree to apply

Both Municipalities and Public Employee Organizationneed to apply separately through the Boards Website

www.frb.ny.gov

Municipalities and Public Employee Organizations wilrequired to submit certain information to the Board
http://www.frb.ny.gov/http://www.frb.ny.gov/


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Potential Consulting Services

Request for Proposal (RFP)

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Request for Proposal

The Board may need to procure a pool of resources t

be quickly deployed on an as-needed basis

If needed, the Division of the Budget (DOB) would iss

RFP, and manage the contracts

The Offices of the Attorney General and the State Co

would conduct normal review


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September 23, 2013

Financial Restructuring Board for LocaGovernments Meeting

Documents

FRBMeeting_9-23