
financebudget
Calculator and change on table. Google Commons photo. More: View public domain image source here
Mayor Fuller is again choosing to underfund our schools. Her proposed FY2026 school budget increases by 3.65%, well below what is required to maintain current service levels.
In contrast, we continue to increase our contribution to fund our pension deficit by over 7% every year. This contribution, $42.4 million in FY 2026 is now the city’s second largest budget item.
We are told that we have no choice but to make pension contributions at this level, but that is false. State law requires that municipalities fully fund their pension plans by 2040. Newton is choosing to fully fund by 2032. By simply holding our pension contributions level with FY2025, we would release $3 million for our FY 2026 budget. Over the next six years, we would have an additional $80 million, cumulatively, to invest in schools and other city services. We would still fully fund our pension by 2035 vs. 2032.
There are no negative consequences. Pensioners will be paid. Newton will maintain its AAA rating. Nothing changes, except that we have more money to cover things like fair salaries and higher quality school programs to deliver academic excellence. Fiscal responsibility is important, but pursuing fiscal austerity for limited benefit is poor management.
Ryan McGlothlin
Newton Centre