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General Fund FYE22 Operating Results memo pdf file

Budgets & Finance · Fiscal year 2022 · Record 1874c7c76643b27ae5

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Source page 1

TOWN OF CANTON, MASSACHUSETTS
                                DEPARTMENT OF FINANCE
                                                                                  SUSAN E. DESJARDINS
                                           MEMORIAL HALL                      ASST. TREASURER/COLLECTOR
                                      801 WASHINGTON STREET                  sdesjardins@town.canton.ma.us
                                                                                      (781) 821-5006
WILLIAM R. SCOLLINS III                  CANTON, MA 02021
                                        PHONE: 781-575-6610
FINANCE DIRECTOR                                                                     LOUIS M. JUTRAS
                                          FAX: 781-575-6608                           INFORMATION
rscollins@town.canton.ma.us
                                         town.canton.ma.us                          SYSTEMS MANAGER
(781) 575-6612
                                                                               ljutras@town.canton.ma.us
                                                                                      (781) 821-5069
KATHLEEN D. BUTTERS
TOWN ACCOUNTANT
                                                                                ALLYSON M. PODGURSKI
kbutters@town.canton.ma.us
                                                                             ASSISTANT TOWN ACCOUNTANT
(781) 575-6605
                                                                             apodgurski@town.canton.ma.us
                                        MEMORANDUM                                  (781) 821-5011

      TO:             Select Board
      FROM:           Randy Scollins, Finance Director
      DATE:           September 13, 2022
      SUBJECT:        General Fund’s Fiscal 2022 Operating Results

      Having recently closed the books for fiscal 2022, 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, 2022
      Budgeted Revenues and Expenditures

      The summary report compares budgeted revenues and expenditures against actuals for
      fiscal 2021 and 2022. The fiscal 2022 budgeted deficit of $3,162,927 was due to cash
      reserves and late arriving excess State Aid, used for the following items:

               Memorial / Town Hall Exterior Renovation Project          $1,200,494
               (plus $1.116MM from borrowing, $283,506 from CPA,
               & $300K transfer from Pool project surplus)
               Transfer to School SPED Reserve                             $660,000
               (Recaptures $160K in excess FY ’21 Circuit Breaker funds)
               Little League Bathrooms & Snack Shack project                 600,000
               School Revolving Replenishment - used in FY '21 COVID efforts 500,000
               Snow & Ice Deficit – from Excess State Aid                    200,000
               Land Taking off of Pleasant Street                             15,000
               Less Unallocated GF Receipts – Replaced with Other Sources -24,491
               Total Cash Reserves & Excess State Aid Budgeted           $3,151,003

               TNC Funds for Painting of Sharrows & Warner Trail Signage     $11,924

               Total Additional Funds Budgeted                             $3,162,927

Source page 2

General Fund’s Fiscal 2022 Operating Results
September 13, 2022
Page 2 of 3

Actual Revenues and Expenditures

Fiscal 2022 was a solid year for the Town, financially speaking, with revenues coming in
ahead of expenditures by $1.89 million. Compared to the budgeted deficit of $3.16
million the total operating surplus was $5.05 million better than plan.

The revenue and expenditure variances to plan are as follows:

   Local Receipts (excise taxes, bldg. permits, misc. revenues, P.I.L.O.T. pmts.) $1,890,006
   Property Tax Revenue                                                            1,152,415
   Transfers from Other funds (Solar facility & Insurance Proceeds)                  350,707
   State Aid                                                                         229,707
   Tax Title Revenue                                                                 148,855
      Total Revenue Surplus                                                       $3,771,690

   Unspent appropriations (mostly fixed costs and municipal budgets)              1,344,893
   State Assessments (primarily Charter School & School Choice)                     -67,282

       Total Variance to Plan                                                    $5,049,301

FYE 2022 revenue performance was much improved by a variety of factors impacting
each of the four primary revenue categories, Property Taxes, Local Receipts, State Aid
and Transfers.

Property tax revenue collections for FY 2022 were $1.15MM better than plan. All of this
increase can be attributed to “New Growth” coming in higher than plan. Real Estate and
Personal Property New Growth taxes were $253K and $1.014MM better than plan,
respectively. Changes in how utility valuations are calculated continued to impact
Personal Property New Growth.

The collection rate of 98.57% on FY ‘22 property taxes in FY ’22 was 0.78% less than
FY ’21. The collection rate is typically over 99%. As of this writing the FY ’22 collection
rate is 99.02%

Local Receipts continued their rebound in FY ’22, beating budget by $1.89MM and prior
year by $1.5MM. The expectation is that at least $1.5MM in excess local receipts are
collected, consistent with prior financial plans, in order to “recharge” Free Cash.

Motor Vehicle Excise Tax and Building Permits beat budget by $774K and $428,
respectively. Although, combined these two categories were down from prior year by
$406K. Hotel and Meals Excise came in better than budget by $371K. Hotel Excise had
a very strong improvement over prior of $140K or 108%. Meals Excise also improved
significantly from prior year by $156K or 53%. Combined Hotel & Meals Excise of
$718.3K has eclipsed the previous high of 2019, by just over $100K. The other category
that beat budget significantly was Reimbursements, beating budget by $259K, with
$231K attributed to School Medicaid Reimbursement and $28K to State
Reimbursements, primarily School Homeless Transportation. All of the other 10 local
receipts categories netted out to $57K higher than plan.

State Aid came in $229.7K higher than budget, with $140.1K attributed to higher Charter
School Reimbursement, and the balance attributed primarily to Property Tax Exemption
Reimbursements.

Source page 3

General Fund’s Fiscal 2022 Operating Results
September 13, 2022
Page 3 of 3

On the expenditure side, it was another positive year with ~$1.28MM in appropriation
turn backs with the top nine returning the following:

       Health Insurance                                                   $287,571
       Fincom Reserve Fund                                                 230,044
       Executive Branch                                                    176,194
       Trash Collection                                                    142,901
       Assessors                                                            90,676
       Veterans                                                             74,995
       Town General Insurance                                               68,382
       Debt Service                                                         65,839
       School Department                                                    53,654
       All 23 Other Voted Budgets                                           87,355
       Total Appropriation Turn Backs                                   $1,277,611


Status of Cash Reserves

The attached balance sheet report prepared as of June 30, 2022 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 $8.9 million as of
June 30, 2022. Please know that the final determination as to the Town’s free cash
reserve is made by the Department of Revenue.

As an outcome of the operating results from fiscal 2022, the Town’s estimated cash
reserves have increased to $23.5 million as follows:

       Stabilization Fund                                               $10,026,967
       Free Cash Reserve                                                  8,928,339
       Surplus Overlay Reserve (net of pending ATB cases)                 4,524,178
               Total                                                    $23,479,484

These reserves amount to 20.29% of fiscal 2023’s budget. In efforts to maintain the
Town’s AAA bond rating we target the reserves to be 15% of budget and we have
achieved that goal again in fiscal 2022.

I hope you will find this information to be useful. If you have any questions or comments,
please contact me and I’ll be happy to discuss.


Attachments
cc:    Charles Aspinwall, Town Administrator
       Kathy Butters, Town Accountant
       Derek Folan, Superintendent of Schools
       Stephen Marshall, Director of Finance & Operations
       Cindy Thomas, Chair, Finance Committee
       Kristian Merenda, Chair, School Committee

Source page 4

SUMMARY OF REVENUES AND EXPENDITURES

                                           CURRENT FISCAL YEAR                                PRIOR FISCAL YEAR
                                       FY 2022         FY 2022        Actuals vs.       FY 2021        FY 2021         Actuals vs.
                                    Revised Budget     ACTUAL       Revised Budget   Revised Budget    ACTUAL        Revised Budget
 GENERAL FUND REVENUES:

 PROPERTY TAX REVENUE                   85,687,763     86,840,178       1,152,415        83,714,637    84,771,504        1,056,867

 STATE AID                               9,328,290      9,557,997        229,707          8,722,010     9,591,679         869,669

 LOCAL RECEIPTS                          8,800,000     10,690,006       1,890,006         7,600,000     9,186,431        1,586,431

 TRANSFERS FROM OTHER FUNDS              2,871,011      3,221,718        350,707          2,759,918     2,828,919           69,001

 TAX TITLE / FORECLOSURE REVENUE                 0       148,855         148,855                  0      221,451          221,451

              TOTAL REVENUES           106,687,064    110,458,754       3,771,690       102,796,564 106,599,984          3,803,420


 GENERAL FUND EXPENDITURES:

 SCHOOL EXPENSES                        47,792,662     47,739,008          53,654        46,186,271    46,032,350         153,921

 MUNICIPAL EXPENSES                     23,618,027     23,165,390        452,637         22,731,468    22,340,658         390,810

 FIXED COSTS                            32,161,949     31,323,347        838,602         31,402,189    30,912,780         489,409

        TOTAL OPERATING EXPENSES       103,572,638    102,227,745       1,344,893       100,319,928    99,285,788        1,034,140

 CASH CAPITAL EXPENDITURES               1,636,509      1,636,328            181          1,250,000     1,250,000                0

 TRANSFERS TO STABILIZATION FUNDS         660,000        660,000                0                 0              0               0

 SPECIAL APPROPRIATIONS                  2,552,418      2,552,393              26          838,539       838,539                 0

 STATE & COUNTY CHARGES                  1,428,426      1,495,914         (67,488)        1,226,636     1,424,853         (198,217)

             TOTAL EXPENDITURES        109,849,991    108,572,380       1,277,611       103,635,103 102,799,180           835,923

 SURPLUS/(DEFICIT) - GENERAL FUND       (3,162,927)     1,886,374       5,049,301          (838,539)    3,800,804        4,639,343


ATMDATA - 09-08-22.xlsx                       FYE 22 GF Summary                                                            9/13/2022

Source page 5

TOWN OF CANTON, MA
                                                                            REVENUE REPORT
                                                                  SUMMARY OF REVENUE ACCOUNTS FOR FUND
                                                                               As of June 30
                                                              FY 2022           FY 2022       FY2022          % OF    FY 2021          FY 2022 YTD ACTUAL vs.
                                                             ORIGINAL          REVISED         YTD           ANNUAL    YTD             FY 2021 YTD ACTUAL
                                                              BUDGET           BUDGET        ACTUAL          BUDGET   ACTUAL       $$ VARIANCE % VARIANCE

01-PROPERTY TAXES
   10011 PERSONAL PROPERTY TAXES                               5,200,000       5,200,000      5,627,796       108.2    5,758,363        (130,568)           (2.3)
   10012 REAL ESTATE TAXES                                    80,487,763      80,487,763     81,212,382       100.9   79,013,140       2,199,242             2.8
      TOTAL: 01-PROPERTY TAXES                                85,687,763      85,687,763     86,840,178       101.3   84,771,504       2,068,675             2.4

02-LOCAL RECEIPTS
   10015   MOTOR VEHICLE EXCISE                                   4,240,254    4,240,254         5,014,394    118.3    5,057,570        (43,176)            (0.9)
   10016   OTHER EXCISE-HOTEL/MEALS TAX                             346,902      346,902           718,256    207.0     421,812         296,443          70.3
   10017   PENALTIES & INTEREST                                     275,000      275,000           284,510    103.5     382,088          (97,577)       (25.5)
   10018   PAYMENTS IN LIEU OF TAXES                              1,882,844    1,882,844         1,882,844    100.0     281,830        1,601,015        568.1
   10032   FEES                                                     170,000      170,000           173,284    101.9     258,238          (84,954)       (32.9)
   10036   RENTALS                                                  200,000      200,000           236,884    118.4     241,102           (4,218)        (1.7)
   10037   OTHER DEPARTMENT REVENUE                                 100,000      100,000            97,545     97.5     109,223          (11,678)       (10.7)
   10041   ALCOHOL LICENSES                                          65,000       65,000            88,540    136.2       72,756          15,784         21.7
   10042   OTHER LICENSES                                            75,000       75,000            93,702    124.9       80,626         13,076          16.2
   10045   PERMITS                                                1,000,000    1,000,000         1,427,740    142.8    1,791,140       (363,400)        (20.3)
   10077   FINES AND FORFEITS                                        70,000       70,000            39,461     56.4       53,018        (13,557)        (25.6)
   10082 EARNINGS ON INVESTMENTS                                    175,000     175,000           156,257      89.3      164,548         (8,291)         (5.0)
   10084 OTHER MISC. REVENUE                                        100,000     100,000           117,528     117.5      162,953        (45,426)        (27.9)
   10085 REIMBURSEMENTS                                            100,000      100,000           359,061     359.1     109,527         249,534         227.8
      TOTAL: 02-LOCAL RECEIPTS                                    8,800,000    8,800,000     10,690,006       121.5    9,186,431       1,503,575            16.4

03-STATE AID
   10062 EDUCATION DIST & REIMB.                                  6,708,990    6,708,990         6,849,129    102.1    7,123,958       (274,829)            (3.9)
   10066 GEN GVMT REIMB & DISTRIB                                 2,619,300    2,619,300         2,708,868    103.4    2,467,721        241,147              9.8
      TOTAL: 03-STATE AID                                         9,328,290    9,328,290         9,557,997    102.5    9,591,679         (33,682)           (0.4)

04-TRNS. FROM OTHER FUNDS
   10097 OTHER FIN SRC-TRANSFERS                                  2,871,011    2,871,011         3,521,718    122.7    2,828,919        692,799             24.5


W:\Munis\MCR Library\Budget reports\2020\Canton Revenue Report.                    Page 1 of 2                                                  8/31/2022

Source page 6

TOWN OF CANTON, MA
                                                                            REVENUE REPORT
                                                                  SUMMARY OF REVENUE ACCOUNTS FOR FUND
                                                                               As of June 30
                                                              FY 2022           FY 2022        FY2022          % OF    FY 2021           FY 2022 YTD ACTUAL vs.
                                                             ORIGINAL          REVISED          YTD           ANNUAL    YTD              FY 2021 YTD ACTUAL
                                                              BUDGET           BUDGET         ACTUAL          BUDGET   ACTUAL        $$ VARIANCE % VARIANCE

      TOTAL: 04-TRNS. FROM OTHER FUNDS                            2,871,011     2,871,011         3,521,718    122.7   2,828,919          692,799            24.5

05-TAX LIENS/FORECLOSURES
   10014 TAX LIENS/TAX TITLES                                             0            0           148,855       0.0     221,451          (72,596)       (32.8)
      TOTAL: 05-TAX LIENS/FORECLOSURES                                   0             0           148,855       0.0     221,451          (72,596)       (32.8)

                GRAND TOTAL                                  106,687,064      106,687,064   110,758,755        103.8   106,599,984        4,158,771           3.9




W:\Munis\MCR Library\Budget reports\2020\Canton Revenue Report.                     Page 2 of 2                                                  8/31/2022

Source page 7

TOWN OF CANTON
                                                        OPERATING EXPENSES BY VOTING CATEGORY
                                                             FUND 100 EXCLUDING ARTICLES
                                                             As of June 30 for Fiscal Years 2021 - 2022
                                                                                                                                                                    FISCAL YEAR 2021
                                                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 22        FY 22             June 30      FY 22   ENCUM. YTD         FY 22     FY 22        FY 22


129 EXECUTIVE OFFICE                               510,826      516,550          498,371      96.5       498,371          96.5       18,179        3.5     503,830          489,357            97.1
151 TOWN COUNSEL                                   299,440      433,052          295,279      68.2       317,669          73.4      115,384      26.6      355,006          212,025            59.7
154 HUMAN RESOURCES DEPT                           191,594      198,859          193,431      97.3       197,995          99.6         864         0.4     190,259          184,353            96.9
179 PLANNING DEPARTMENT                             91,376           92,997       71,014      76.4        71,014          76.4       21,983      23.6       91,376            86,873           95.1
195 TOWN REPORTS                                     3,000            3,000        2,920      97.3          2,920         97.3          80         2.7       3,000             2,935           97.8
244 SEALER OF WEIGHTS & MEAS                         7,500            7,500        7,575     101.0          7,575        101.0          (75)      (1.0)      7,500             7,500          100.0
910 EMPLOYEE CONTRACT BENEFIT                      436,696      168,170          140,388      83.5       148,391          88.2       19,779      11.8      159,636          135,176            84.7

       TOTAL 01-Executive Branch                 1,540,432     1,420,128       1,208,978       85.1     1,243,935         87.6      176,194      12.4     1,310,607        1,118,218           85.3

133 DIRECTOR OF FINANCE                            229,115      232,764          233,162     100.2       233,162         100.2         (398)      (0.2)    229,015          225,341            98.4
135 ACCOUNTANT                                     273,787      280,994          284,216     101.1       284,216         101.1       (3,222)      (1.1)    255,642          252,698            98.8
145 TREASURER/TAX COLLECTOR                        229,119      231,289          216,076      93.4       216,076          93.4       15,213        6.6     224,759          211,649            94.2
155 INFORMATION SYSTEMS                            628,302      740,348          614,517      83.0       734,559          99.2        5,789        0.8     682,037          568,327            83.3

       TOTAL 02-Finance Dept                     1,360,323     1,485,394       1,347,970       90.7     1,468,012         98.8       17,382        1.2    1,391,453        1,258,015           90.4

176 ZONING BOARD                                    27,772           27,772       20,982      75.6        20,982          75.6        6,790      24.4       27,772            16,580           59.7
241 BUILDING DEPARTMENT                            366,486      372,381          374,947     100.7       374,947         100.7       (2,566)      (0.7)    359,492          356,894            99.3

       TOTAL 03-Building & Zoning                  394,258      400,153          395,929       98.9      395,929          98.9        4,224        1.1      387,264         373,473            96.4

215 911 DISPATCHERS - FIRE                         265,856      265,856          265,856     100.0       265,856         100.0            0        0.0     258,113          258,113           100.0
220 FIRE DEPARTMENT                              6,204,966     6,592,943       6,535,805      99.1      6,563,992         99.6       28,951        0.4    6,060,690        5,632,273           92.9
221 FIRE ALARMS, BOXES, ETC                         22,975           22,975       13,906      60.5        13,906          60.5        9,069      39.5       22,975            28,769          125.2
231 AMBULANCE SERVICE                              444,030      445,665          484,463     108.7       488,444         109.6      (42,779)      (9.6)    459,429          566,516           123.3
232 UNMANNED AMBULANCE                                   0               0            0        0.0              0          0.0            0        0.0              0              0            0.0
291 EMERGENCY MANAGEMENT                            31,650           35,670       26,413      74.0        30,433          85.3        5,237      14.7       35,670            24,205           67.9

       TOTAL 06-Fire Dept                        6,969,477     7,363,109       7,326,443       99.5     7,362,630        100.0         479         0.0    6,836,877        6,509,876           95.2

192 PUBLIC BLDGS/PROP MAINT                        625,418      652,742          539,984      82.7       601,804          92.2       50,938        7.8     621,849          543,841            87.5
400 PUBLIC WORKS ADMINISTRATI                      394,812      399,508          263,111      65.9       263,111          65.9      136,397      34.1      344,937          262,639            76.1
410 ENGINEERING DEPARTMENT                         253,185      257,738          268,250     104.1       326,366         126.6      (68,628)     (26.6)    252,491          254,339           100.7
420 HIGHWAY MAINTENANCE                          1,084,071     1,112,642       1,160,161     104.3      1,176,592        105.7      (63,950)      (5.7)   1,130,748        1,133,098          100.2

W:\Munis\MCR Library\Budget reports\2020\Canton Expense Report.rpt                                        Page 1 of 4                                                      Date: 8/31/2022

Source page 8

TOWN OF CANTON
                                                        OPERATING EXPENSES BY VOTING CATEGORY
                                                             FUND 100 EXCLUDING ARTICLES
                                                             As of June 30 for Fiscal Years 2021 - 2022
                                                                                                                                                                    FISCAL YEAR 2021
                                                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 22        FY 22             June 30      FY 22   ENCUM. YTD         FY 22     FY 22        FY 22


425 STREET SIGNS & TRAFFIC                          75,700           77,941       82,888     106.3        90,575         116.2      (12,634)     (16.2)     65,700            61,203           93.2
426 GAS & OIL FUND                                  61,190           61,190       71,289     116.5        71,289         116.5      (10,099)     (16.5)     61,190            62,652          102.4
427 HIGHWAY EQUIPMENT MAINT                        338,440      360,762          381,189     105.7       405,531         112.4      (44,768)     (12.4)    356,604          435,845           122.2
491 CEMETERY MAINT                                 186,373      187,250          179,394      95.8       179,394          95.8        7,857        4.2     181,074          178,111            98.4
492 TREE DEPARTMENT                                162,637      162,637          139,768      85.9       139,768          85.9       22,869       14.1     157,156          157,914           100.5
493 TREE WARDEN & SHADE TREES                            0               0            0        0.0              0          0.0            0        0.0              0              0            0.0
632 PEQUITSIDE FARM                                 30,000           30,000       32,774     109.2        32,774         109.2       (2,774)      (9.2)     30,000            24,124           80.4

       TOTAL 07-Public Works                     3,211,826     3,302,411       3,118,808       94.4     3,287,204         99.5       15,207        0.5    3,201,749        3,113,765           97.3

542 YOUTH SERVICES                                   5,000            5,000        2,562      51.2          2,562         51.2        2,438       48.8       5,000             3,074           61.5
630 PARKS & RECREATION                             806,100      859,059          874,245     101.8       885,716         103.1      (26,657)      (3.1)    780,818          743,063            95.2
650 PARKS DEPARTMENT                                80,000           96,875       68,111      70.3        72,579          74.9       24,297       25.1      92,200            56,849           61.7

       TOTAL 08-Recreation & Playgr                891,100      960,934          944,917       98.3      960,857         100.0          78         0.0      878,018         802,987            91.5

210 POLICE DEPARTMENT                            5,565,150     5,741,405       5,594,629      97.4      5,740,413        100.0         992         0.0    5,484,649        5,181,487           94.5
292 ANIMAL CONTROL OFFICER                         138,202      137,948          122,343      88.7       122,343          88.7       15,605       11.3     137,189          112,437            82.0

       TOTAL 09-Police & Animal Ctrl             5,703,352     5,879,353       5,716,972       97.2     5,862,756         99.7       16,597        0.3    5,621,838        5,293,925           94.2

131 FINANCE COMMITTEE                               12,500           12,500       14,959     119.7        14,959         119.7       (2,459)     (19.7)     12,500            10,172           81.4
177 SUSTAINABILITY COMMITTEE                         1,000            1,000        2,433     243.3          2,433        243.3       (1,433)    (143.3)             0              0            0.0
182 CAPITAL OUTLAY & PLANNING                        2,556            2,556          98        3.8             98          3.8        2,458       96.2       2,556               489           19.1
184 BUILDINGS RENOVATIONS COM                        3,200            3,200           0        0.0              0          0.0        3,200     100.0        3,200               110            3.4
545 SUBSTANCE ABUSE COMMITTEE                       10,000           10,000        3,435      34.3        10,000         100.0            0        0.0      10,000             3,948           39.5
546 WALK,BIKE & HIKE COMMITTEE                       1,000            1,000         300       30.0           300          30.0         700        70.0       1,000               481           48.1
547 DISABILITY COMMISSION                              900             900            0        0.0              0          0.0         900      100.0          900                 0            0.0
691 HISTORICAL COMMISSION                            3,669            3,669        2,700      73.6          2,700         73.6         969        26.4       3,669               600           16.4
692 BEAUTIFICATION COMMITTEE                         1,378            1,378           0        0.0              0          0.0        1,378     100.0        1,378                 0            0.0

       TOTAL 10-Committees & Commissions            36,203           36,203       23,925       66.1       30,490          84.2        5,713       15.8       35,203           15,799           44.9

161 TOWN CLERK                                     218,809      224,053          218,805      97.7       218,805          97.7        5,248        2.3     219,874          217,286            98.8
163 ELECTIONS & REGISTRAR'S                         66,000           66,052       47,349      71.7        52,692          79.8       13,361       20.2      69,963            72,213          103.2

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TOWN OF CANTON
                                                        OPERATING EXPENSES BY VOTING CATEGORY
                                                             FUND 100 EXCLUDING ARTICLES
                                                             As of June 30 for Fiscal Years 2021 - 2022
                                                                                                                                                                     FISCAL YEAR 2021
                                                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 22        FY 22             June 30      FY 22   ENCUM. YTD         FY 22     FY 22        FY 22



       TOTAL 11-Town Clerk & Elected               284,809      290,105          266,154       91.7      271,497          93.6       18,609       6.4        289,837         289,498            99.9

141 ASSESSORS                                      379,036      388,926          290,250      74.6       298,250          76.7       90,676      23.3        540,013         307,987            57.0
171 CONSERVATION COMMISSION                        161,688      163,907          154,843      94.5       156,943          95.8        6,964       4.2        143,673         136,832            95.2
175 PLANNING BOARD                                  70,734           73,670       73,491      99.8        73,491          99.8         179        0.2         70,734           63,638           90.0
198 UNPAID BILLS                                         0           15,207       15,207     100.0        15,207         100.0            0       0.0         70,072           70,327          100.4
510 HEALTH DEPARTMENT                              370,034      393,919          360,843      91.6       375,343          95.3       18,576       4.7        397,249         353,901            89.1
541 COUNCIL ON AGING                               470,774      509,450          505,747      99.3       509,450         100.0            0       0.0        466,837         432,245            92.6
543 VETERANS SERVICES DEPARTMENT                   272,602      274,041          198,312      72.4       199,046          72.6       74,995      27.4        268,653         198,400            73.8
544 REVERE & SON HERITAGE TRUST                     11,704           11,704       11,234      96.0        11,234          96.0         470        4.0          5,652            5,324           94.2
548 DIVERSITY EQUITY & INCLUSION                     3,500            3,500        3,112      88.9          3,112         88.9         388       11.1                0              0            0.0
610 LIBRARY                                      1,486,175     1,488,116       1,482,209      99.6      1,482,209         99.6        5,907       0.4      1,387,095        1,391,853          100.3

       TOTAL 12-Stand Alone                      3,226,247     3,322,440       3,095,249       93.2     3,124,285         94.0      198,155       6.0      3,349,978        2,960,506           88.4

         TOTAL    01-MUNICIPAL                  23,618,027    24,460,231      23,445,345      95.9     24,007,594         98.1      452,637       1.9     23,302,824       21,736,063           93.3

710 PRINCIPAL PAYMENTS                           3,544,621     3,544,621       3,690,100     104.1      3,690,100        104.1     (145,479)      (4.1)    4,088,314        4,110,415          100.5
751 LONG-TERM INTEREST PAYMENTS                    802,296      802,296          856,178     106.7       856,178         106.7      (53,882)      (6.7)      862,826         973,774           112.9
752 SHORT-TERM INTEREST PAYMENTS                   265,200      265,200               0        0.0              0          0.0      265,200     100.0        262,000                0            0.0

       TOTAL 12-Debt Service                     4,612,117     4,612,117       4,546,278       98.6     4,546,278         98.6       65,839       1.4      5,213,140        5,084,189           97.5

132 RESERVE FUND                                   600,000      230,044               0        0.0              0          0.0      230,044     100.0        162,829                0            0.0
422 STREET LIGHTING                                 75,000           77,500       77,265      99.7        77,265          99.7         235        0.3         91,000           79,317           87.2
423 SNOW & ICE REMOVAL                             650,500      783,500          758,519      96.8       758,519          96.8       24,981       3.2        850,500         835,317            98.2
433 TRASH COLLECTION                             2,447,500     2,458,964       2,298,132      93.5      2,316,063         94.2      142,901       5.8      2,121,806        2,096,983           98.8
840 BLUE HILLS REGIONAL                          1,472,906     1,472,906       1,472,906     100.0      1,472,906        100.0            0       0.0      1,477,309        1,476,512           99.9
841 NORFOLK COUNTY AGRICULTR HS                     20,000           20,000       19,800      99.0        19,800          99.0         200        1.0         20,000           16,000           80.0
911 RETIREMENT BENEFITS                          6,463,772     6,463,772       6,449,186      99.8      6,449,186         99.8       14,586       0.2      6,035,616        6,035,583          100.0
913 UNEMPLOYMENT COMPENSATION                      100,000      100,000          100,000     100.0       100,000         100.0            0       0.0        100,000         100,000           100.0
914 EMPLOYER SHARE-HEALTH INS                   13,143,953    13,143,953      12,856,382      97.8     12,856,382         97.8      287,571       2.2     12,894,318       12,898,486          100.0
915 EMPLOYER SHARE-LIFE INS                         62,250           62,250       58,387      93.8        58,387          93.8        3,863       6.2         62,250           59,193           95.1
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TOWN OF CANTON
                                                        OPERATING EXPENSES BY VOTING CATEGORY
                                                             FUND 100 EXCLUDING ARTICLES
                                                             As of June 30 for Fiscal Years 2021 - 2022
                                                                                                                                                                      FISCAL YEAR 2021
                                                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 22        FY 22             June 30      FY 22   ENCUM. YTD         FY 22     FY 22        FY 22


946 TOWN INSURANCE                               1,367,845     1,403,711       1,262,147      89.9      1,335,328         95.1       68,382       4.9       1,262,203        1,218,901           96.6
990 TRANSFERS                                       96,106           98,497       98,497     100.0        98,497         100.0            0       0.0          50,970           50,970          100.0
993 OPEB TRANSFER                                1,050,000     1,050,000       1,050,000     100.0      1,050,000        100.0            0       0.0         914,000         914,000           100.0

       TOTAL 15-Misc. Fixed                     27,549,832    27,365,097      26,501,221       96.8    26,592,333         97.2      772,764       2.8      26,042,801       25,781,261           99.0

         TOTAL    02-FIXED EXPENSES             32,161,949    31,977,214      31,047,499      97.1     31,138,611         97.4      838,602       2.6      31,255,941       30,865,450           98.8

300 SCHOOL DEPARTMENT                           48,292,662    51,557,656      46,777,422      90.7     51,504,002         99.9       53,654       0.1      49,447,603       45,078,817           91.2

       TOTAL 17-School Admin                    48,292,662    51,557,656      46,777,422       90.7    51,504,002         99.9       53,654       0.1      49,447,603       45,078,817           91.2

         TOTAL    03-SCHOOL                     48,292,662    51,557,656      46,777,422      90.7     51,504,002         99.9       53,654       0.1      49,447,603       45,078,817           91.2

820 CHERRY SHEET ASSESSMENTS                     1,203,703     1,203,703       1,236,874     102.8      1,236,874        102.8      (33,171)      (2.8)     1,004,078        1,202,295          119.7
830 COUNTY TAX-CHERRY SHEET                        224,723      224,723          224,723     100.0       224,723         100.0            0       0.0         222,558         222,558           100.0

       TOTAL 19-State & County Chgs              1,428,426     1,428,426       1,461,597      102.3     1,461,597        102.3      (33,171)      (2.3)     1,226,636        1,424,853          116.2

         TOTAL    05-STATE & COUNTY CHGS         1,428,426     1,428,426       1,461,597     102.3      1,461,597        102.3      (33,171)      (2.3)     1,226,636        1,424,853          116.2

                 GRAND TOTALS :                105,501,064   109,423,526 102,731,863          93.9    108,111,804         98.8    1,311,722       1.2     105,233,005       99,105,183           94.2




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CANTON
                                                              Combined Balance Sheet - All Fund Types and Account Groups
                                                                                 as of June 30, 2022
                                                                                     (Unaudited)
                                                                                                                                      Fiduciary       Account
                                                         Governmental Fund Types                       Proprietary Fund Types        Fund Types       Groups            Totals
                                                                 Special              Capital                           Internal      Trust and      Long-term       (Memorandum
                                              General           Revenue              Projects       Enterprise          Services       Agency          Debt             Only)
                      ASSETS
Cash and cash equivalents                    30,852,765.02        14,665,373.83    12,076,960.79     5,953,980.89    10,707,818.08   21,825,252.87                    96,082,151.48
Receivables:
   Personal property taxes                      102,882.30                                                                                                               102,882.30
   Real estate taxes                            543,101.91             6,841.92                                                                                          549,943.83
   Allowance for abatements and exemptions   (6,018,051.39)                                                                                                           (6,018,051.39)
   Tax liens                                  1,122,000.45             6,728.95                                                                                        1,128,729.40
   Motor vehicle excise                         870,850.79                                                                                                               870,850.79
   User fees                                                                                         1,531,467.06                                                      1,531,467.06
   Utility liens added to taxes                                                                        110,900.01                                                        110,900.01
   Departmental                                                    1,941,724.03                                                                                        1,941,724.03
   Special assessments                                                78,157.90                       559,755.85                                                         637,913.75
   Due from other governments                   34,272.00                                                                                                                 34,272.00
   Foreclosures/Possessions                    523,968.40                                                                                                                523,968.40
Prepaids                                        (6,515.65)                                                                                                                (6,515.65)
Working deposit                                                                                                         768,980.57                                       768,980.57
Amounts to be provided - payment of bonds                          1,292,000.00     1,807,000.00    28,016,322.50                                    26,501,570.27    57,616,892.77
        Total Assets                         28,025,273.83        17,990,826.63    13,883,960.79    36,172,426.31    11,476,798.65   21,825,252.87   26,501,570.27   155,876,109.35
         LIABILITIES AND FUND EQUITY
Liabilities:
   Accounts payable                             710,875.68          153,957.19         51,035.23        75,704.01       192,216.28      21,448.44                      1,205,236.83
   Accrued payroll                            1,780,592.91          115,828.67          2,503.02        50,544.60                        3,412.30                      1,952,881.50
   Withholdings                               1,130,881.62                                                                                                             1,130,881.62
   Due to other governments                                                                                 (7.56)                                                            (7.56)
   Other liabilities                                                    325.00                                                                                               325.00
   Deferred revenue:
        Real and personal property taxes     (5,372,067.18)            6,841.92                                                                                       (5,365,225.26)
        Tax liens                             1,122,000.45             6,728.95                                                                                        1,128,729.40
        Foreclosures/Possessions                523,968.40                                                                                                               523,968.40
        Motor vehicle excise                    870,850.79                                                                                                               870,850.79
        User fees                                                                                    1,542,044.88                                                      1,542,044.88
        Utility liens added to taxes                                                                   110,900.01                                                        110,900.01
        Departmental                                               1,941,724.03                                                                                        1,941,724.03
        Special assessments                                           78,157.90                       559,774.85                                                         637,932.75
        Due from other governments              34,272.00                                                                                                                 34,272.00
   Tailings                                     33,139.76                                                                                                                 33,139.76
   IBNR                                                                                                                 993,078.25                                       993,078.25
   Agency Funds                                                                                                                       1,347,678.31                     1,347,678.31
   Bonds payable                                                   1,292,000.00     1,807,000.00    28,016,322.50                                    26,501,570.27    57,616,892.77
         Total Liabilities                     834,514.43          3,595,563.66     1,860,538.25    30,355,283.29     1,185,294.53    1,372,539.05   26,501,570.27    65,705,303.48

Fund Equity:
   Reserved for encumbrances                  4,436,721.33          627,254.41                                                                                         5,063,975.74
   Reserved for expenditures                  2,784,317.00                                             380,000.00                                                      3,164,317.00
   Reserved for continuing appropriations     4,572,061.06         2,797,502.48    12,023,422.54     1,378,571.96                         8,820.00                    20,780,378.04
   Reserved for petty cash                          200.00                                                  50.00                                                            250.00
   Reserved for working deposit                                                                                          61,800.00                                        61,800.00
   Undesignated fund balance                 15,397,460.01        10,970,506.08                                      10,229,704.12   20,443,893.82                    57,041,564.03
   Unreserved retained earnings                                                                      4,058,521.06                                                      4,058,521.06
       Total Fund Equity                     27,190,759.40        14,395,262.97    12,023,422.54     5,817,143.02    10,291,504.12   20,452,713.82            0.00    90,170,805.87

       Total Liabilities and Fund Equity     28,025,273.83        17,990,826.63    13,883,960.79    36,172,426.31    11,476,798.65   21,825,252.87   26,501,570.27   155,876,109.35