City of Medford Financial Task Force to Develop Plan for Investments in City and School Buildings and Operations

Mayor and leadership of City Council and School Committee announce timeline to release proposal for significant financial investments in capital needs and operations 

(MEDFORD)—The Financial Task Force, a group comprised of City Councilors, School Committee Members, City staff and the Mayor, have been meeting regularly since early fall to analyze the current fiscal landscape of the City, identify key budget priorities and develop a sustainable strategy that produces tangible results for the community in the upcoming FY25 budget.  

The group will release a proposal for major financial investments in city and school capital needs, school operations expenses and street and sidewalk work by the end of the fiscal year on June 30th. 

The Financial Task Force will review all options available under state municipal finance law to determine the best approach for funding Medford’s pressing needs. The options may include debt exclusions, where voters would consider raising the property tax levy for a defined period to pay for capital projects such as a new public High School, and Proposition 2 ½ override ballot measures, which if approved by voters, would allow Medford to increase its tax levy by more than the state-mandated constraint of 2.5 percent.  

In other municipalities where voters have approved debt exclusion and override proposals, this measure has allowed for permanent increases to operating budgets, enabling cities to keep pace with inflation/fixed cost growth and make progress on funding public schools and essential city services.  

The Financial Task Force will prioritize funding capital projects, such as the construction of a new Medford High School, Fire Headquarters and urgent operating budget needs for Medford Public Schools.   

“There have been significant fiscal challenges over the past four budget cycles, and though we’ve made progress reducing our reliance on one-time funds, we still need to be strategic about how we deploy our resources,” Mayor Breanna Lungo-Koehn said. “We have major capital investments on the horizon, and we must work collaboratively to further strengthen our financial future. I look forward to working closely with my fellow elected officials and residents to ensure that we are prepared for what lies ahead.” 

The task force was established after the Mayor and Council leadership reached an agreement to pass the FY24 budget last June, and now as the fiscal year is coming to an end, the group is working collaboratively to deliver a meaningful financial plan that meets the needs of the community and strengthens the City’s economic outlook.  

The members of the Financial Task Force are:  

• Mayor and School Committee Chair Breanna Lungo-Koehn 

• City Council President Isaac B. “Zac” Bears 

• School Committee Vice Chair Jenny Graham 

• City Council Vice President Kit Collins 

• Chief of Staff Nina Nazarian 

“Pressing needs for major capital projects and additional funding for our public schools and city services demand bold action,” said Council President Bears. “I’m confident that the community will rally around a plan to build a new Fire Headquarters and provide urgently needed operating funds for our schools and city departments starting this year as we prepare for the biggest investment our city has made in 60 years – building a new Medford High School.” 

“I am thrilled to see all branches of our city’s government collaborating to create a thoughtful and comprehensive plan to fund Medford’s future,” said School Committee Vice Chair Graham. “We are at the beginning stages of our project to replace and reimagine Medford High, but having a plan to fund our share of the cost now will help us move through the project at an accelerated pace. We are also working to reverse a history of deferred maintenance so that all our buildings can support learning for our students for many years to come.” 

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