SOMERVILLE –
Mayor Joseph A. Curtatone announced today that the Financial Advisory
Committee (FAC) convened in January has issued a series of
recommendations designed to ensure the City's long-term financial
sustainability. The FAC, made up of five representatives from the
business, nonprofit and financial sectors, made its recommendations
after a series of meetings with City officials and an extensive review
of information about the Somerville's finances and municipal
operations. The FAC's key recommendations span the areas of health
care; fees and fines; competitive sourcing; regionalization of
services; cost recovery; wages and salaries; capital assets; programs
and policies such as Pay-As-You-Throw trash disposal and the rezoning
of business districts.

"All of us were honored to assist the
Mayor and people of Somerville in responding to this historic
challenge," said Samuel Tyler, President of the Boston Municipal
Research Bureau.  "Our report is based on a wide-ranging review of
Somerville's operations, structure and policies. We were impressed by
the expertise of the current administration as well as its grasp of the
city's fiscal challenges and their potential solutions.  These
recommendations underscore our belief that this crisis demands more
than incremental change.  To preserve core public services, municipal
leaders will require, and should receive, greater flexibility so that
they can take decisive action in both the design and management of city
operations."

"I sincerely thank all of the members of the FAC
for volunteering their time and effort on this critical task," said
Mayor Curtatone. "I have been impressed by both the breadth and
thoughtfulness of the committee's discussions throughout this process
and I look forward to reviewing their recommendations. Given the fiscal
realities facing municipalities across the Commonwealth, we have
already begun working internally to identify opportunities for
cost-savings, increased efficiencies and new revenue options. This
committee has given us the opportunity to tap into the wealth of
knowledge and experience on these issues that exists in Somerville and
our surrounding communities.

I am eager to get to work on analyzing their suggested actions and implementing them wherever appropriate and feasible."

Mayor
Curtatone convened the FAC to provide expert financial advice designed
to help the City maintain its ability to provide core services while
facing both severe cuts in state and a deepening economic recession.
The FAC included Ronald Bonney, Jr., President of Bonney Automotive and
Executive Committee Member of the Somerville Chamber of Commerce;
Geoffrey Hargadon, Sr.Vice President for Investments, UBS Financial
Services; Professor Daniel Richards of the Tufts University Economics
Department Barry R. Sloane, President and Co-CEO of Century Bancorp;
and Samuel Tyler, President of the Boston Municipal Research Bureau.

Additionally,
Mayor Curtatone and City Finance staff presented to the Board of
Aldermen and the School Committee at a special meeting on Monday, May
4th, on the latest state and local factors affecting the City's Fiscal
Year 2010 budget. Curtatone presented a number of cost-savings and
revenue generating options and urged the Board of Aldermen to take
immediate and decisive action in order to bridge the budget gap.

The
recommendations will be reviewed internally and, where deemed
appropriate, implemented. For the complete recommendations and
accompanying report, as well as additional information on the City's
budget please visit: http://www.somervillema.gov/spotlight.cfm?id=73.