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General Fund 2014 Year End Reports (PDF)
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DEPARTMENT OF FINANCE
KATHLEEN b. BUTTERS
MEMORIAL HALL TOWN ACCOUNTANT
801 WASHINGTON STREET kbutters@town.canton.ma.us
CANTON, MA 02021 (781) 575-6605
JAMES R. MURGIA PHONE: 781-575-6610
FINANCE DIRECTOR FAX: 781-575-6608 SUSAN E. DESJARDINS
jmurgia@town.canton.ma.us town.canton.ma.us ASST. TREASURER/COLLECTOR
(781) 575-6612 sdesjardinsgtown.canton.ma.us
MEMORANDUM (781) 821-5006
LOUIS M. JUTRAS
INFORMATION
TO: Board of Selectmen SYSTEMS MANAGER
ljutrasgtown.canton.ma.us
FROM: Jim Murgia, Finance Director (781) 821-5069
DATE: August 14, 2014
SUBJECT: General Fund's Fiscal 2014 Operating Results
Having recently closed the books for fiscal 2014, the Finance Department prepared the
following reports which are attached for your review:
1) Summary of Revenues and Expenditures
2) Revenue Report (2 pages)
3) Operating Expenditure Report (4 pages)
4) Balance Sheet as of June 30, 2014
Budgeted Revenues and Expenditures
The summary report compares budgeted revenues and expenditures against actuals for fiscal
2014. The budgeted deficit of $2,085,978 was due to free cash reserve used for the following
items:
Shepard's Pond Dam repairs $895,102
Snow and Ice budget supplement 485,594
Transfer to Stabilization Funds 485,000
Other budget supplements 150,282
July 4th events (2013 and 2014) 70,000
Total Free Cash Reserve Budgeted $2,085,978
Actual Revenues and Expenditures
Fiscal 2014 was an excellent year with revenues exceeding expenditures by over $2 million.
Compared to the budgeted deficit of $2.1 million this operating surplus was $4.1 million better
than expected.Source page 2
General Fund's Fiscal 2014 Operating Results
August 14, 2014
Page 2 of 2
The reasons for these results are as follows:
Local Receipts (excise taxes, building permits, FEMA refund, $1,407,729
hotel/meals taxes)
Property Tax Revenue (due to new growth, fewer abatements) 787,046
Tax Title/Foreclosure Revenue (December 2013 auction) 782,539
Transfers from Other funds (Solar facility, bond premium) 552,765
State Aid surplus 15,008
Total Surplus revenue 3,545,087
Unspent appropriations (mostly fixed costs) 541,527
Total $4,086,614
Actual state aid received of $7,616,220 per the attached revenue report has been increased to
reflect the balance of the MSBA grant for the high school renovation project, amounting to
$550,537, which was budgeted.
Status of Cash Reserves
The attached balance sheet report prepared as of June 30, 2014 will be submitted to the
Department of Revenue for free cash reserve certification.
We estimate the general fund's free cash reserve to be approximately $3.0 million as of June
30, 2014. Please know that the final determination as to our free cash reserve is made by the
Department of Revenue.
Due to the very positive operating results from fiscal 2014, the Town's cash reserves have
grown to an estimated $10.4 million as follows:
Stabilization Funds $5,074,180
Free Cash Reserve 3,000,000
Overlay Reserve 2,302,060
Total $10,376,240
These reserves amount to 13.0% of fiscal 2015's budget. In order to maintain our AAA bond
rating we target our reserves to be 10% to 15% of budget so we have achieved that goal in
fiscal 2014.
I hope you will find this information to be useful. If you have any questions or comments, please
let me know.
JRM/ej
Attachments
cc: Kathy Butters, Town Accountant Barry Nectow, School Business Administrator
William T. Friel, Town Administrator Mark Porter, Chairman, Finance Committee
Jeff Granatino, Superintendent of Schools Cindy Thomas, Chair, School CommitteeSource page 3
SUMMARY OF REVENUES AND EXPENDITURES
FY 2014 FY 2014 Actuals vs.
Revised Budget ACTUAL Revised Budget
GENERAL FUND REVENUES:
PROPERTY TAX REVENUE 60,602,471 61,389,516 787,046
STATE AID 8,151,749 8,166,757 15,008
LOCAL RECEIPTS 5,574,543 6,982,273 1,407,729
TRANSFERS FROM OTHER FUNDS 2,452,057 3,004,822 552,765
TAX TITLE / FORECLOSURE REVENUE 0 782,539 782,539
TOTAL REVENUES 76,780,820 80,325,907 3,545,087
GENERAL FUND EXPENDITURES:
SCHOOL EXPENSES 33,395,505 33,395,505 (0)
MUNICIPAL EXPENSES , 17,003,173 16,918,738 84,435
FIXED COSTS 25,126,739 24,674,243 452,496
TOTAL OPERATING EXPENSES 75,525,417 74,988,486 536,931
CASH CAPITAL EXPENDITURES 1,826,102 1,821,917 4,185
TRANSFERS TO STABILIZATION FUNDS 485,000 485,000
SPECIAL APPROPRIATIONS 70,000 70,000 0
STATE & COUNTY CHARGES 960,279 959,868 411
TOTAL EXPENDITURES r— 78,866,798 78,325,271 541,527
OPERATING SURPLUS/(DEFICIT) - GENERAL FUND (2,085,978) 2,000,636 4,086,614
ATMDATA.xisx summary 8/8/2014Source page 4
TOWN OF CANTON, MA
REVENUE REPORT
SUMMARY OF REVENUE ACCOUNTS FOR FUND
As ofJune 30
FY 2014 FY 2014 FY 2014 % OF FY 2013 FY 2014 YTD ACTUAL vs.
ORIGINAL REVISED YTD ANNUAL YTD FY 2013 YTD ACTUAL
BUDGET BUDGET ACTUAL BUDGET ACTUAL $$ VARIANCE % VARIANCE
01-PROPERTY TAXES
10011 PERSONAL PROPERTY TAXES 3,000,000 3,000,000 3,708,575 2,917,035 791,540
123.6 27.1
10012 REAL ESTATE TAXES 57,602,471 57,602,471 57,680,941 56,026,203 1,654,738
100.1 3.0
TOTAL: 01-PROPERTY TAXES 60,602,471 60,602,471 61,389,516 101.3 58,943,238 2,446,278 4.2
02-LOCAL RECEIPTS
10015 MOTOR VEHICLE EXCISE 3,000,000 3,000,000 3,714,753 3,473,978 240,775
123.8 6.9
10016 OTHER EXCISE-HOTEL/MEALS TAX 450,000 450,000 568,317 126.3 460,905 107,412 23.3
10017 PENALTIES & INTEREST 250,000 250,000 344,012 323,695 20,317
137.6 6.3
10018 PAYMENTS IN LIEU OF TAXES 214,543 214,543 214,543 100.0 224,311 (9,767) (4.4)
10032 FEES 150,000 150,000 11,158
177,668 118.4 166,510 6.7
10036 RENTALS 200,000 200,000 201,454 16,681
218,135 109.1 8.3
10037 OTHER DEPARTMENT REVENUE 75,000 75,000 96,811 58,575 38,236
129.1 65.3
10041 ALCOHOL LICENSES 65,000 65,000 72,915 74,040 (1,125)
112.2 (1.5)
10042 OTHER LICENSES 70,000 70,000 94,133 134.5 91,849 2,285 2.5
10045 PERMITS 450,000 450,000 878,021 (227,240)
650,781 144.6 (25.9)
10054 OTHER MISC FEDERAL REVENUE 0 0 251,643 0 251,643
0.0 0.0
10068 OTHER STATE REVENUE 0 0 18,408 0 18,408
0.0 0.0
10077 FINES AND FORFEITS 125,000 125,000 141,311 109,411 31,900
113.0 29.2
10082 EARNINGS ON INVESTMENTS 100,000 100,000 91,250 91.2 82,772 8,478 10.2
10084 OTHER MISC. REVENUE 175,000 175,000 44,668 25.5 59,018 (14,350) (24.3)
10085 REIMBURSEMENTS 250,000 250,000 282,925 390,105 (107,180)
113.2 (27.5)
TOTAL: 02-LOCAL RECEIPTS 5,574,543 5,574,543 6,982,273 125.3 6,594,642 387,631 5.9
03-STATE AID
10062 EDUCATION DIST & REIMB. 5,927,567 5,927,567 5,244,448 88.5 5,308,809 (64,361) (1.2)
10066 GEN G'VMT REIMB & DISTRIB 2,224,182 2,224,182 2,371,772 106.6 2,135,346 236,426 11.1
TOTAL: 03-STATE AID 8,151,749 8,151,749 7,616,220 93.4 7,444,155 172,065 2.3
04-TRNS. FROM OTHER FUNDS
WAMunis\MCR Library\Budget reports\Canton Revenue Report.rpt Page 1 of 2 8/8/2014Source page 5
TOWN OF CANTON, MA
REVENUE REPORT
SUMMARY OF REVENUE ACCOUNTS FOR FUND
As of June 30
FY 2014 FY 2014 FY 2014 % OF FY 2013 FY 2014 YTD ACTUAL vs.
ORIGINAL REVISED YTD ANNUAL YTD FY 2013 YTD ACTUAL
BUDGET BUDGET ACTUAL BUDGET ACTUAL $$ VARIANCE % VARIANCE
10097 OTHER FIN SRC-TRANSFERS 2,223,581 2,452,057 3,223,434 131.5 2,664,482 558,953 21.0
TOTAL: 04-TRNS. FROM OTHER FUNDS 2,223,581 2,452,057 3,223,434 131.5 2,664,482 558,953 21.0
05-TAX LIENS/FORECLOSURES
10014 TAX LIENS/TAX TITLES 0 0 782,539 0.0 219,963 562,576 255.8
TOTAL: 05-TAX LIENS/FORECLOSURES 0 0 782,539 0.0 219,963 562,576 255.8
GRAND TOTAL 76,552,344 76,780,820 79,993,982 104.2 75,866,479 4,127,503 5.4
W:\Munis\MCR Library\Budget reports\Canton Revenue Report.rpt Page 2 of 2 8/8/2014Source page 6
TOWN OF CANTON
OPERATING EXPENSES BY VOTING CATEGORY
FUND 100 EXCLUDING ARTICLES
As of June 30 for Fiscal Years 2013 -2014 FISCAL YEAR 2013
ORIGINAL REVISED EXPENDED YTD % OF TOTAL % OF REMAINING % OF REVISED EXPENDED % OF
BUDGET BUDGET THRU BUDGET EXPENDED & BUDGET BUDGET BUDGET
BUDGET Y-T-D BUDGET
FY 14 FY14 June 30 FY 14 ENCUM. YTD FY 14 FY 14 FY 14
129 EXECUTIVE OFFICE 440,572 440,572 423,086 96.0 423,086 96.0 17,486 4.0 433,057 412,334 95.2
151 TOWN COUNSEL 239,585 304,585 389,831 128.0 389,831 128.0 (85,246) (28.0) 240,166 308,795 128.6
154 HUMAN RESOURCES DEPT 78,616 78,616 78,629 100.0 78,629 100.0 (13) 0.0 74,853 77,239 103.2
179 PLANNING DEPARTMENT 5,320 5,320 5,312 99.9 5,312 99.9 8 0.1 4,320 5,310 122.9
192 PUBLIC BLDGS/PROP MAINT 324,393 324,393 300,178 92.5 300,985 92.8 23,408 7.2 314,056 299,700 95.4
193 POLICE STATION MAINT. 15,467 15,467 11,785 76.2 12,360 79.9 3,107 20.1 10,467 12,873 123.0
194 PUBLIC SAFETY FACILITY 7,187 7,187 8,525 118.6 9,415 131.0 (2,228) (31.0) 7,187 9,481 131.9
195 TOWN REPORTS 7,500 7,500 3,020 40.3 3,020 40.3 4,480 59.7 7,500 3,772 50.3
199 ARMANDO RECREATION FACILITY 8,853 8,853 8,595 97.1 8,595 97.1 258 2.9 8,853 9,420 106.4
244 SEALER OF WEIGHTS & MEAS 7,500 7,500 6,750 90.0 6,750 90.0 750 10.0 7,500 6,750 90.0
632 PEQUITS1DE FARM 25,022 25,022 31,179 124.6 31,179 124.6 (6,157) (24.6) 22,022 26,557 120.6
910 EMPLOYEE CONTRACT BENEFIT 173,147 173,147 128,852 74.4 128,852 74.4 44,295 25.6 173,147 130,605 75.4
TOTAL 01-Executive Branch 1,333,162 1,398,162 1,395,743 99.8 1,398,014 100.0 148 0.0 1,303,128 1,302,836 100.0
133 DIRECTOR OF FINANCE 167,446 167,446 166,880 99.7 166,880 99.7 566 0.3 156,461 157,866 100.9
135 ACCOUNTANT 192,297 202,247 197,533 97.7 197,533 97.7 4,714 2.3 183,035 178,704 97.6
145 TREASURER/TAX COLLECTOR 194,061 194,061 192,906 99.4 192,906 99.4 1,155 0.6 194,677 187,579 96.4
155 INFORMATION SYSTEMS 346,268 405,782 346,895 85.5 412,028 101.5 (6,246) (1.5) 388,258 328,579 84.6
TOTAL 02-Finance Dept 900,072 969,536 904,213 93.3 969,346 100.0 190 0.0 922,431 852,729 92.4
176 ZONING BOARD 34,895 35,895 33,081 92.2 33,081 92.2 2,814 7.8 40,001 35,447 88.6
241 BUILDING DEPARTMENT 297,455 302,029 293,267 97.1 293,267 97.1 8,762 2.9 296,876 286,644 96.6
TOTAL 03-Building & Zoning 332,350 337,924 326,348 96.6 326,348 96.6 11,576 3.4 336,877 322,091 95.6
220 FIRE DEPARTMENT 4,383,740 4,537,216 4,314,007 95.1 4,314,007 95.1 223,209 4.9 4,297,342 4,295,412 100.0
221 FIRE ALARMS, BOXES, ETC 22,975 22,975 10,920 47.5 10,920 47.5 12,055 52.5 22,075 14,243 64.5
231 AMBULANCE SERVICE 345,778 345,778 577,112 166.9 578,312 167.2 (232,534) (67.2) 342,181 351,692 102.8
232 UNMANNED AMBULANCE 1,000 1,000 1,000 100.0 1,000 100.0 0 0.0 1,428 1,000 70.0
291 EMERGENCY MANAGEMENT 10,850 10,875 13,097 120.4 13,097 120.4 (2,222) (20.4) 9,835 10,030 102.0
TOTAL 06-Fire Dept 4,764,343 4,917,844 4,916,135 100.0 4,917,335 100.0 509 0.0 4,672,861 4,672,377 100.0
W: \Munis NCR Library \Budget reports \Canton Expense Report - FY14.rpt Page 1 of 4
Date: 8/8/2014Source page 7
TOWN OF CANTON
OPERATING EXPENSES BY VOTING CATEGORY
FUND 100 EXCLUDING ARTICLES
As of June 30 for Fiscal Years 2013 - 2014 FISCAL YEAR 2013
ORIGINAL REVISED EXPENDED YTD % OF TOTAL % OF REMAINING % OF REVISED EXPENDED % OF
BUDGET BUDGET THRU BUDGET EXPENDED & BUDGET BUDGET BUDGET BUDGET Y-T-D BUDGET
FY 14 FY14 June 30 FY 14 ENCUM. YTD FY 14 FY 14 FY 14
400 PUBLIC WORKS ADMINISTRATI 285,075 285,075 288,385 101.2 288,385 101.2 (3,310) (1.2) 318,807 274,659 86.2
410 ENGINEERING DEPARTMENT 191,497 191,497 187,565 97.9 192,565 100.6 (1,068) (0.6) 175,883 180,751 102.8
420 HIGHWAY MAINTENANCE 818,538 831,249 797,044 95.9 797,044 95.9 34,205 4.1 766,571 742,372 96.8
421 SIDEWALKS 0 0 0 0.0 0 0.0 0 0.0 0 0 0.0
425 STREET SIGNS & TRAFFIC 49,200 50,213 55,595 110.7 56,597 112.7 (6,384) (12.7) 44,200 67,488 152.7
426 GAS & OIL FUND 96,190 96,812 79,195 81.8 79,195 81.8 17,618 18.2 96,259 86,494 89.9
427 HIGHWAY EQUIPMENT MAINT 251,219 252,919 262,334 103.7 262,334 103.7 (9,415) (3.7) 261,458 299,004 114.4
491 CEMETERY MAINT 163,657 163,657 179,889 109.9 179,889 109.9 (16,232) (9.9) 163,021 157,463 96.6
492 TREE DEPARTMENT 208,771 208,771 223,529 107.1 223,529 107.1 (14,758) (7.1) 207,334 219,600 105.9
493 TREE WARDEN & SHADE TREES 0 0 0 0.0 0 0.0 0 0.0 0 0 0.0
TOTAL 07-Public Works 2,064,147 2,080,193 2,073,535 99.7 2,079,538 100.0 655 0.0 2,033,534 2,027,830 99.7
542 YOUTH SERVICES 3,667 3,667 3,744 102.1 3,744 102.1 (77) (2.1) 3,667 3,130 85.4
630 RECREATION & PLAYGROUND 463,610 488,610 487,639 99.8 488,230 99.9 380 0.1 428,647 429,182 100.1
TOTAL 08-Recreation & Playgr 467,277 492,277 491,384 99.8 491,975 99.9 302 0.1 432,314 432,312 100.0
210 POLICE DEPARTMENT 4,208,798 4,238,798 4,262,154 100.6 4,262,650 100.6 (23,852) (0.6) 4,019,463 4,045,063 100.6
292 ANIMAL CONTROL OFFICER 122,330 122,330 98,117 80.2 98,117 80.2 24,213 19.8 119,856 93,269 77.8
TOTAL 09-Police & Animal Ctrl 4,331,128 4,361,128 4,360,271 100.0 4,360,767 100.0 361 0.0 4,139,319 4,138,332 100.0
131 FINANCE COMMITTEE 11,500 11,500 8,177 71.1 8,177 71.1 3,323 28.9 11,500 8,956 77.9
149 WATER/SEWER RATE POLICY 1,000 1,000 0 0.0 0 0.0 1,000 100.0 1,000 1,000 100.0
182 CAPITAL OUTLAY & PLANNING 2,556 2,556 11 0.4 11 0.4 2,545 99.6 556 56 10.1
184 BUILDINGS RENOVATIONS COM 3,381 3,381 176 5.2 176 5.2 3,205 94.8 3,381 276 8.2
547 DISABILITY COMMISSION 2,565 2,565 247 9.6 247 9.6 2,318 90.4 565 518 91.6
691 HISTORICAL COMMISSION 3,669 10,658 10,040 94.2 10,040 94.2 618 5.8 9,944 2,915 29.3
692 BEAUTIFICATION COMMITTEE 1,378 1,378 0 0.0 0 0.0 1,378 100.0 1,378 750 54.4
TOTAL 10-Committees & Commissic 26,049 33,038 18,651 56.5 18,651 56.5 14,387 43.5 28,324 14,471 51.1
161 TOWN CLERK 176,369 176,369 174,928 99.2 176,028 99.8 341 0.2 170,312 171,976 101.0
163 ELECTIONS & REGISTRARS 34,168 34,168 24,046 70.4 24,546 71.8 9,622 28.2 61,168 59,276 96.9
W:\Munis\MCR Library \Budget reports \Canton Expense Report - FY14.rpt Page 2 of 4 Date: 8/8/2014Source page 8
TOWN OF CANTON
OPERATING EXPENSES BY VOTING CATEGORY
FUND 100 EXCLUDING ARTICLES
As ofJune 30 for Fiscal Years 2013 -2014 FISCAL YEAR 2013
ORIGINAL REVISED EXPENDED YTD % OF TOTAL % OF REMAINING % OF REVISED EXPENDED % OF
BUDGET BUDGET THRU BUDGET EXPENDED & BUDGET BUDGET BUDGET BUDGET Y-T-D BUDGET
FY 14 FY14 June 30 FY 14 ENCUM. YTD FY 14 FY 14 FY 14
TOTAL 11-Town Clerk & Elected 210,537 210,537 198,974 94.5 200,574 95.3 9,963 4.7 231,480 231,252 99.9
141 ASSESSORS 225,801 225,801 225,640 99.9 225,640 99.9 161 0.1 241,239 240,868 99.8
171 CONSERVATION COMMISSION 85,996 89,068 88,653 99.5 88,653 99.5 415 0.5 71,568 63,462 88.7
175 PLANNING BOARD 53,075 59,125 52,676 89.1 57,476 97.2 1,649 2.8 58,142 45,314 77.9
198 UNPAID BILLS 0 0 0 0.0 0 0.0 0 0.0 0 0 0.0
510 HEALTH DEPARTMENT 331,760 331,760 314,635 94.8 314,635 94.8 17,125 5.2 326,422 308,574 94.5
541 COUNCIL ON AGING 217,870 217,870 217,509 99.8 217,509 99.8 361 0.2 213,587 213,518 100.0
543 VETERANS SERVICES DEPARTMENT 218,930 262,256 261,593 99.7 261,593 99.7 663 0.3 235,457 233,918 99.3
610 LIBRARY 1,111,874 1,111,874 1,085,902 97.7 1,085,902 97.7 25,972 2.3 1,030,294 1,030,188 100.0
TOTAL 12-Stand Alone 2,245,306 2,297,754 2,246,609 97.8 2,251,409 98.0 46,345 2.0 2,176,709 2,135,841 98.1
TOTAL 01-MUNICIPAL 16,674,371 17,098,393 16,931,864 99.0 17,013,958 99.5 84,435 0.5 16,276,976 16,130,072 99.1
710 PRINCIPAL PAYMENTS 4,433,245 4,433,245 4,460,204 100.6 4,460,204 100.6 (26,959) (0.6) 4,482,270 4,478,192 99.9
751 LONG-TERM INTEREST PAYMENTS 1,461,219 1,553,503 1,575,100 101.4 1,575,100 101.4 (21,597) (1.4) 1,510,622 1,591,215 105.3
752 SHORT-TERM INTEREST PAYMENTS 53,000 53,000 4,444 8.4 4,444 8.4 48,556 91.6 167,000 86,589 51.8
TOTAL 12-Debt Service 5,947,464 6,039,748 6,039,748 100.0 6,039,748 100.0 0 0.0 6,159,892 6,155,995 99.9
132 RESERVE FUND 500,000 287,000 0 0.0 0 0.0 287,000 100.0 9 0 0.0
422 STREET LIGHTING 150,000 159,137 106,204 66.7 109,278 68.7 49,859 31.3 210,961 117,457 55.7
423 SNOW & ICE REMOVAL 364,735 850,329 839,895 98.8 839,895 98.8 10,434 1.2 644,735 644,641 100.0
433 TRASH COLLECTION 1,448,992 1,490,789 1,483,863 99.5 1,490,738 100.0 51 0.0 1,462,874 1,461,279 99.9
840 BLUE HILLS REGIONAL 1,059,042 1,059,042 1,059,042 100.0 1,059,042 100.0 0 0.0 1,173,074 1,173,074 100.0
841 NORFOLK COUNTY AGRICULTR HS 10,000 10,000 8,589 85.9 8,589 85.9 1,411 14.1 10,000 6,000 60.0
911 RETIREMENT BENEFITS 3,212,846 3,212,846 3,202,606 99.7 3,202,606 99.7 10,240 0.3 3,145,759 3,085,292 98.1
913 UNEMPLOYMENT COMPENSATION 150,000 150,000 150,000 100.0 150,000 100.0 0 0.0 100,000 100,000 100.0
914 EMPLOYER SHARE-HEALTH INS 10,498,160 10,498,160 10,473,152 99.8 10,473,152 99.8 25,008 0.2 10,147,018 10,018,636 98.7
915 EMPLOYER SHARE-LEFE INS 60,000 60,000 58,289 97.1 58,289 97.1 1,711 2.9 60,000 57,696 96.2
946 TOWN INSURANCE 877,950 924,950 910,457 98.4 910,457 98.4 14,493 1.6 847,950 846,675 99.8
990 TRANSFERS 0 0 0 0.0 0 0.0 0 0.0 150,078 150,078 100.0
W:\Munis\MCR Library \Budget reports\Canton Expense Report - FY14.rpt Page 3 of 4 Date: 8/8/2014Source page 9
TOWN OF CANTON
OPERATING EXPENSES BY VOTING CATEGORY
FUND 100 EXCLUDING ARTICLES
As of June 30 for Fiscal Years 2013 -2014 FISCAL YEAR 2013
ORIGINAL REVISED EXPENDED YTD % OF TOTAL % OF REMAINING % OF REVISED EXPENDED % OF
BUDGET BUDGET THRU BUDGET EXPENDED & BUDGET BUDGET BUDGET BUDGET Y-T-D BUDGET
FY 14 FY14 June 30 FY 14 ENCUM. YTD FY 14 FY 14 FY 14
993 OPEB TRANSFER 400,000 400,000 400,000 100.0 400,000 100.0 0 0.0 50,000 50,000 100.0
TOTAL 15-Misc. Fixed 18,731,725 19,102,253 18,692,096 97.9 18,702,046 97.9 400,207 2.1 18,002,457 17,710,827 98.4
TOTAL 02-FIXED EXPENSES 24,679,189 25,142,001 24,731,844 98.4 24,741,793 98.4 400,207 1.6 24,162,349 23,866,823 98.8
300 SCHOOL DEPARTMENT 33,320,505 33,611,059 33,610,109 100.0 33,611,059 100.0 0 0.0 32,150,940 31,935,387 99.3
TOTAL 17-School Admin 33,320,505 33,611,059 33,610,109 100.0 33,611,059 100.0 0 0.0 32,150,940 31,935,387 99.3
TOTAL 03-SCHOOL 33,320,505 33,611,059 33,610,109 100.0 33,611,059 100.0 0 0.0 32,150,940 31,935,387 99.3
820 CHERRY SHEET ASSESSMENTS 752,873 765,873 765,462 99.9 765,462 99.9 411 0.1 698,670 763,657 109.3
830 COUNTY TAX-CHERRY SHEET 194,406 194,406 194,406 100.0 194,406 100.0 0 0.0 195,881 195,881 100.0
TOTAL 19-State & County Chgs 947,279 960,279 959,868 100.0 959,868 100.0 411 0.0 894,551 959,538 107.3
TOTAL 05-STATE & COUNTY CHGS 947,279 960,279 959,868 100.0 959,868 100.0 411 0.0 894,551 959,538 107.3
GRAND TOTALS: 75,621,344 76,811,731 76,233,684 99.2 76,326,677 99.4 485,054 0.6 73,484,816 72,891,819 99.2
W:\Munis\MCR Library \Budget reports \Canton Expense Report - FY14.rpt Page 4 of 4 Date: 8/8/2014Source page 10
TOWN OF CANTON
COMBINED BALANCE SHEET AS OF JUNE 30, 2014
#100 #1014299 #3004399 #6004700 #8014890 #970
GENERAL SPECIAL CAPITAL ENTERPRISE TRUSTS AND LONG-TERM TOTALS
FUND REVENUE PROJECTS FUNDS AGENCY ACCOUNT GROUP ALL FUNDS
ASSETS
CASH AND SHORT TERM INVESTMENTS 11,974,958.72 6,534,340.09 3,683,117.91 5,475,649.20 13,592,390.92 0.00 41,260,456.84
DEPARTMENTAL RECEIVABLES 0.00 453,670.36 0.00 0.00 0.00 0.00 453,670.36
EXCISE TAX RECEIVABLE 457,846.36 0.00 0.00 0.00 0.00 0.00 457,846.36
PERSONAL PROPERTY TAX RECEIVABLE 101,928.22 0.00 0.00 0.00 0.00 0.00 101,928.22
REAL ESTATE TAX RECEIVABLE 395,018.53 0.00 0.00 0.00 0.00 0.00 395,018.53
OTHER RECEIVABLES 3,262,682.00 0.00 0.00 3,196.80 0.00 0.00 3,265,878.80
TAX LIENS 882,981.10 0.00 0.00 45,436.21 0.00 0.00 928,417.31
USER CHARGES RECEIVABLE 0.00 0.00 0.00 348,607.83 0.00 0.00 348,607.83
UTILITY LIENS ADDED TO TAXES 0.00 0.00 0.00 453,847.37 0.00 0.00 453,847.37
AMOUNT PROVIDED FOR BONDS 0.00 0.00 0.00 30,648,855.00 0.00 29,139,400.00 59,788,255.00
OTHER ASSETS 2,409.32 648,980.87 0.00 0.00 58,400.00 ' 0.00 709,790.19
TAX FORECLOSURES 458,221.05 0.00 0.00 0.00 0.00 0.00 458,221.05
CONSTRUCTION IN PROGRESS 0.00 0.00 891,851.65 93,158.01 0.00 0.00 985,009.66
TOTAL ASSETS 17,536,045.30 7,636,991.32 4,574,969.56 37 068,750.42 13,650,790.92 29,139,400.00 109 606 947.52
LIABILITIES
ACCOUNTS PAYABLE 1,152,447.72 87,153.58 155,880.30 180,578.52 337,984.58 0.00 1,914,044.70
ACCRUED PAYROLL 3,254,656.75 179,356.27 120.00 26,491.27 476.36 0.00 3,461,100.65
BONDS PAYABLE 0.00 0.00 0.00 30,648,855.00 0.00 29,139,400.00 59,788,255.00
DEFERRED REVENUES 3,256,617.33 453,670.36 0.00 851,088.21 0.00 0.00 4,561,375.90
NOTES PAYABLE 0.00 0.00 1,985,950.00 930,000.00 0.00 0.00 2,915,950.00
OTHER LIABILITIES 34,916.97 175.21 0.00 10,000.00 2,147,421.78 0.00 2,192,513.96
PROVISIONS FOR ABATEMENTS AND EXEMPTIONS 2,302,059.93 0.00 0.00 0.00 0.00 0.00 2,302,059.93
WITHHOLDINGS PAYABLE 308,212.12 0.00 0.00 0.00 0.00 0.00 308,212.12
TOTAL LIABILITIES 10,308 910 82 720,355.42 2,141,950.30 32,647,013.00 2,485,882.72 29,139,400.00 77,443,512.26
FUND EQUITY
RESERVE FOR ENCUMBRANCES 451,140.81 0.00 0.00 465,780.14 0.00 0.00 916,920.95
RESERVE FOR EXPENDITURES 801,000.00 0.00 0.00 678,000.00 0.00 0.00 1,479,000.00
RESERVE FOR PETTY CASH & OTHER ASSETS 625.00 0.00 0.00 50.00 0.00 0.00 675.00
RESERVE FOR EXCLUDED DEBT 166,323.08 0.00 0.00 0.00 0.00 0.00 166,323.08
RESERVE FOR DEPOSITS 0.00 0.00 0.00 0.00 0.00 0.00 0.00
RESERVE FOR UNPROVIDED ABATEMENTS/EXEMPT (226.88) 0.00 0.00 0.00 0.00 0.00 (226.88)
RESERVE FOR UNSPENT CONSTRUCTION PROCEEDS 0.00 0.00 2,433,019.26 384,852.48 0.00 0.00 2,817,871.74
UNRESERVED FUND BALANCE 5,808,272.47 6,916,635.90 0.00 2,893,054.80 11,164,908.20 0.00 26,782,871.37
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TOTAL FUND EQUITY 7,227,134.48 6,916,635.90 2,433,019.26 4,421,737.42 11,164,908.20 0.00 32,163,435.26
TOTAL LIABILITIES AND FUND EQUITY 17,536,045.30 7,636,991.32 4,574,969.56 37,068,750.42 13,650,790.92 29,139,400.00 109,606,947.52
Fy 14 Balance Sheets.xlsx Combined Balance Sheets 8/13/2014