Towns Face $89 Million in Unfunded Liabilities

The taxpayers of Tisbury have been warned they will have to come up with some $1.5 million each year for the next 30 years to meet their currently-unfunded liabilites to town employees.

The huge figure is contained in a comprehensive analysis, carried out by Jon Snyder of the town’s finance and advisory committee, of the problem posed by the failure of Tisbury — and other Martha’s Vineyard towns and regional entities — to provide for health insurance and other post-retirement benefits.

Kindergarten Registration

Kindergarten Registration

Tisbury parents of a children who will be five years of age on or before Sept. 1, 2009, are asked to register their child for kindergarten. Call Barbara Armstrong at 508-696-6500 between now and April 3 to request a pre-registration packet and to set up a registration appointment. Registration will be on Thursday, April 16.

goalie

Vineyarders Knocked Out of Semifinals

Matt Mincone, coach of the Martha’s Vineyard Regional High School boys’ hockey team, wasn’t disappointed by his team’s crushing 3-2 loss last Friday against Coyle Cassidy in the Division 2 South Sectional semifinals, a game decided by the largely unfamiliar format of a shoot-out.

Nor was the coach sad, or enraged by the shoot-out loss. Instead it left him, as it did many players and parents, feeling simply numb.

Bank Statement

Bank Statement

The Martha’s Vineyard Savings Bank reported it closed $90.6 million in mortgage loans during 2008. As a result, the bank grew its loan portfolio 6.89 per cent for the year. The bank’s total assets grew 2.55 per cent for the year. Core deposits grew to $360.9 million, and capital grew to $53.2 million at year end Dec. 31, 2008.

Richard

Mr. Labrecque Promoted

Richard J. Labrecque has been named senior vice president at the Edgartown National Bank.

The new title reflects Mr. Labrecque’s accomplishments in the commercial lending area, said bank president and chief executive Fielding Moore: “Rick has done an excellent job of working with Island businesses to find innovative solutions to meet the banking needs of our Island business community.”

Mr. Labrecque has 25 years of community banking experience.

West Tisbury Library Hosts Wednesday Reading Series

The West Tisbury library, in collaboration with the Fine Arts Work Center in Provincetown, will be hosting a five-week Wednesday reading series. The readings will take place Wednesdays, March 11, 18, 25 and April 1 at 5:30 p.m., and will feature one poetry fellow and one fiction fellow. Listeners will have the opportunity to ask questions and receptions will follow. All readings will be free and open to the public.

Consumer Price Watch

Gas

And now, more good news on the proposed gas tax. A group that includes the Greater Boston Chamber of Commerce doesn’t think 19 cents is enough; they’d like to make it 25 cents. Still another group thinks 29 cents sounds just right. At either 25 or 29 cents, Massachusetts will have the highest gas tax in the country. Welcome, tourists!

Prices for regular unleaded gas as of Mar. 4:

Edgartown

Airport Mobil 2.699 Depot Corner 2.599

Edgartown Mobil 2.659

No End In Sight: March Starts With Snow

The season’s first significant northeaster dumped snow on the mainland and shut down transportation, keeping many home, or away from home. March came in like a lion and gave Island school children one more day off before school resumed after the winter break. And many who spent the weekend trying to get back to the Island after a break, spent more time at the airport.

Buses between Boston and Woods Hole were cancelled all day on Monday.

Skate Shop Burgled During Snow Storm

Tisbury police are investigating a nighttime burglary at the Green Room in downtown Vineyard Haven Sunday night in which someone broke through a side door on the basement level and stole money from a cash register and donations canister and several items of clothing.

West Tisbury Board to Review Police Chief’s Contract Terms

West Tisbury selectmen plan to formally review the contract of Police Chief Beth Toomey in executive session, after learning the agreement contains language that automatically renews the employment terms every three years and has allowed the police chief to accumulate over $50,000 in unused sick days and vacation time.

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