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General Fund FYE 21 Financial Results pdf file
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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: Board of Selectmen
FROM: Randy Scollins, Finance Director
DATE: September 15, 2021
SUBJECT: General Fund’s Fiscal 2021 Operating Results
Having recently closed the books for fiscal 2021, 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, 2021
Budgeted Revenues and Expenditures
The summary report compares budgeted revenues and expenditures against actuals for
fiscal 2020 and 2021. The fiscal 2021 budgeted deficit of $838,539 was due to cash
reserves used for the following items:
Transfer to School SPED Reserve 500,000
Earl Newhouse Waterfront Improvements 239,130
(General Fund expected to be reimbursed from grant proceeds)
Sherman, Angela & Pleasant St’s. Intersection Improvements 85,000
(plus $500K to come from borrowing & $165K from mitigation)
Community Recognition 5,000
Total Cash Reserves Budgeted $829,130
TNC Funds for Work Force Shuttle in Royal St. Area $9,409
Total Additional Funds Budgeted $838,539Source page 2
General Fund’s Fiscal 2021 Operating Results
September 15, 2021
Page 2 of 3
Actual Revenues and Expenditures
Fiscal 2021 was a rebound year for the Town, financially speaking, with revenues
coming in ahead of expenditures by $3.8MM. Compared to the budgeted deficit of $839
thousand the total operating surplus was $4.6 million better than plan.
The revenue and expenditure variances to plan are as follows:
Local Receipts (excise taxes, bldg. permits, misc. revenues, interest income) $1,586,431
Property Tax Revenue 1,056,867
State Aid 869,669
Tax Title Revenue 221,451
Transfers from Other funds (Solar facility) 69,001
Total Revenue Surplus $3,803,420
Unspent appropriations (mostly municipal budgets and fixed costs) 1,034,140
State Assessments (primarily Charter School & School Choice) -198,217
Total Variance to Plan $4,639,343
FYE 2021 revenue performance was much improved by a variety of factors impacting
the three major revenue categories, Property Taxes, Local Receipts and State Aid,
despite the Covid-19 pandemic still raging for most of the fiscal year..
Property tax revenue collections for FY 2021 were $1.06MM better than plan. ~$475K of
this increase was due to “New Growth” coming in higher than plan. Real Estate and
Personal Property New Growth taxes were $319K and $156K better than plan,
respectively. Changes in how utility valuations are calculated impacted Personal
Property New Growth.
Collections were negatively impacted in the prior year, FY 2020, primarily by the Select
Board’s decision to adopt the unique MGL statute allowed by the legislature as a form of
relief to provide taxpayers until June 30 to pay their 4th quarter tax bills, usually due May
1st. However, over 80% of these FY 2020 taxes, or $1.38MM were collected in FY 2021.
The collection rate of 99.35% on FY ‘21 property taxes in FY ’21 was 1.25% better than
FY ’20. The collection rate is typically over 99%. As of this writing the FY ’21 collection
rate is 99.89%
Local Receipts rebounded nicely in FY ’21, beating budget by $1.59MM and prior year
by $927K. 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. The
impact of Covid-19 restrictions resulted in significant downward pressure on the world
economy, including Canton. So it was welcome news to see Building Permits beat
budget by $1.04MM. Motor Vehicle Excise (MVE) tax was the other category that
rebounded, beating budget by $600K. Although, the same effect of receiving FY ’20
MVE payments in FY ’21, as with property taxes, because MVE bills were also allowed
to be paid later last year without penalty as a form of relief to residents, also helped. All
of the other 13 local receipts categories netted out to $55K less than plan.
State Aid came in $870K higher than budget. The Governor and the legislature decided
to use CARES Act funds to commit to what the Governor had originally proposed in
January of 2020 for the FY ’21 budget. That decision wasn’t made until well into FY ’21,Source page 3
General Fund’s Fiscal 2020 Operating Results
September 15, 2021
Page 3 of 3
in December of 2020. In lieu of a firm commitment on State Aid, many municipalities
revised their State Aid budget estimates downward by 10%, which is exactly what
Canton did when the budget was finally set in June of 2020.
At the May 2021 Annual Town Meeting, it was voted to use $1MM of these surplus
revenues for: SPED Stabilization Reserve ($660K); School Revolving Account
Replenishment ($140K); and to cover the Snow & Ice deficit ($200K).
On the expenditure side, it was another positive year with $1.03MM in appropriation turn
backs with the top six returning the following:
Police Department & Animal Control $236,766
Assessors 224,026
Fire Department (Covid related expenses funded by FEMA/Cares) 200,604
Fincom Reserve Fund 162,829
School Department 153,921
Debt Service 128,951
All Other Departments -72,958
Total Appropriation Turn Backs $1,034,140
Status of Cash Reserves
The attached balance sheet report prepared as of June 30, 2021 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 $8.0 million as of
June 30, 2021. Please know that the final determination as to our free cash reserve is
made by the Department of Revenue.
As an outcome of the operating results from fiscal 2021, the Town’s cash reserves have
increased to an estimated $21.2 million as follows:
Stabilization Fund $10,060,653
Free Cash Reserve 8,000,000
Surplus Overlay Reserve (net of pending ATB cases) 3,170,257
Total $21,230,910
These reserves amount to 19.3% of fiscal 2022’s budget. In efforts to maintain our AAA
bond rating we target our reserves to be 15% of budget and we have achieved that goal
again in fiscal 2021.
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
Tim McKenna, Chair, Finance Committee
Kristian Merenda, Chair, School Committee
Stephen Marshall, Director of Finance & OperationsSource page 4
SUMMARY OF REVENUES AND EXPENDITURES
CURRENT FISCAL YEAR PRIOR FISCAL YEAR
FY 2021 FY 2021 Actuals vs. FY 2020 FY 2020 Actuals vs.
Revised Budget ACTUAL Revised Budget Revised Budget ACTUAL Revised Budget
GENERAL FUND REVENUES:
PROPERTY TAX REVENUE 83,714,637 84,771,504 1,056,867 79,110,045 77,420,210 (1,689,835)
STATE AID 8,722,010 9,591,679 869,669 9,368,213 9,418,160 49,947
LOCAL RECEIPTS 7,600,000 9,186,431 1,586,431 7,378,804 8,258,958 880,154
TRANSFERS FROM OTHER FUNDS 2,759,918 2,828,919 69,001 3,169,138 3,264,550 95,412
TAX TITLE / FORECLOSURE REVENUE 0 221,451 221,451 235,221 235,221
TOTAL REVENUES 102,796,564 106,599,984 3,803,420 99,026,200 98,597,099 (429,101)
GENERAL FUND EXPENDITURES:
SCHOOL EXPENSES 46,186,271 46,032,350 153,921 44,114,362 44,055,834 58,528
MUNICIPAL EXPENSES 22,731,468 22,340,658 390,810 22,215,240 21,716,443 498,797
FIXED COSTS 31,402,189 30,912,780 489,409 30,022,368 29,074,828 947,540
TOTAL OPERATING EXPENSES 100,319,928 99,285,788 1,034,140 96,351,970 94,847,105 1,504,865
CASH CAPITAL EXPENDITURES 1,250,000 1,250,000 0 2,435,000 2,420,458 14,542
TRANSFERS TO STABILIZATION FUNDS 0 0 0 0 0 0
SPECIAL APPROPRIATIONS 838,539 838,539 0 700,000 700,000 0
STATE & COUNTY CHARGES 1,226,636 1,424,853 (198,217) 1,233,217 1,186,662 46,555
TOTAL EXPENDITURES 103,635,103 102,799,180 835,923 100,720,187 99,154,225 1,565,962
SURPLUS/(DEFICIT) - GENERAL FUND (838,539) 3,800,804 4,639,343 (1,693,987) (557,125) 1,136,861
ATMDATA - 9-13-21.xlsx FYE 21 GF Summary 9/15/2021Source page 5
TOWN OF CANTON, MA
REVENUE REPORT
SUMMARY OF REVENUE ACCOUNTS FOR FUND
As of June 30
FY 2021 FY 2021 FY2021 % OF FY 2020 FY 2021 YTD ACTUAL vs.
ORIGINAL REVISED YTD ANNUAL YTD FY 2020 YTD ACTUAL
BUDGET BUDGET ACTUAL BUDGET ACTUAL $$ VARIANCE % VARIANCE
01-PROPERTY TAXES
10011 PERSONAL PROPERTY TAXES 4,900,000 4,900,000 5,758,363 117.5 4,745,574 1,012,789 21.3
10012 REAL ESTATE TAXES 78,237,806 78,237,806 79,013,140 101.0 72,674,636 6,338,505 8.7
TOTAL: 01-PROPERTY TAXES 83,137,806 83,137,806 84,771,504 102.0 77,420,210 7,351,294 9.5
02-LOCAL RECEIPTS
10015 MOTOR VEHICLE EXCISE 4,457,291 4,457,291 5,057,570 113.5 4,560,311 497,259 10.9
10016 OTHER EXCISE-HOTEL/MEALS TAX 550,000 550,000 421,812 76.7 568,692 (146,880) (25.8)
10017 PENALTIES & INTEREST 275,000 275,000 382,088 138.9 240,078 142,010 59.2
10018 PAYMENTS IN LIEU OF TAXES 276,468 276,468 281,830 101.9 254,165 27,664 10.9
10032 FEES 175,000 175,000 258,238 147.6 148,083 110,155 74.4
10036 RENTALS 200,000 200,000 241,102 120.6 219,064 22,038 10.1
10037 OTHER DEPARTMENT REVENUE 100,000 100,000 109,223 109.2 92,290 16,933 18.3
10041 ALCOHOL LICENSES 70,000 70,000 72,756 103.9 81,825 (9,069) (11.1)
10042 OTHER LICENSES 80,000 80,000 80,626 100.8 61,541 19,085 31.0
10045 PERMITS 750,000 750,000 1,791,140 238.8 1,279,096 512,045 40.0
10077 FINES AND FORFEITS 80,000 80,000 53,018 66.3 54,683 (1,664) (3.0)
10082 EARNINGS ON INVESTMENTS 300,000 300,000 164,548 54.8 395,819 (231,271) (58.4)
10084 OTHER MISC. REVENUE 86,240 86,240 162,953 189.0 48,977 113,976 232.7
10085 REIMBURSEMENTS 200,000 200,000 109,527 54.8 114,644 (5,117) (4.5)
TOTAL: 02-LOCAL RECEIPTS 7,599,999 7,599,999 9,186,431 120.9 8,258,958 927,474 11.2
03-STATE AID
10062 EDUCATION DIST & REIMB. 6,585,034 6,585,034 7,123,958 108.2 6,823,009 300,949 4.4
10066 GEN GVMT REIMB & DISTRIB 2,118,029 2,118,029 2,467,721 116.5 2,595,151 (127,430) (4.9)
TOTAL: 03-STATE AID 8,703,063 8,703,063 9,591,679 110.2 9,418,160 173,519 1.8
04-TRNS. FROM OTHER FUNDS
10097 OTHER FIN SRC-TRANSFERS 2,732,418 2,732,418 2,828,919 103.5 3,264,551 (435,632) (13.3)
W:\Munis\MCR Library\Budget reports\2020\Canton Revenue Report. Page 1 of 2 8/25/2021Source page 6
TOWN OF CANTON, MA
REVENUE REPORT
SUMMARY OF REVENUE ACCOUNTS FOR FUND
As of June 30
FY 2021 FY 2021 FY2021 % OF FY 2020 FY 2021 YTD ACTUAL vs.
ORIGINAL REVISED YTD ANNUAL YTD FY 2020 YTD ACTUAL
BUDGET BUDGET ACTUAL BUDGET ACTUAL $$ VARIANCE % VARIANCE
TOTAL: 04-TRNS. FROM OTHER FUNDS 2,732,418 2,732,418 2,828,919 103.5 3,264,551 (435,632) (13.3)
05-TAX LIENS/FORECLOSURES
10014 TAX LIENS/TAX TITLES 0 0 221,451 0.0 235,221 (13,770) (5.9)
TOTAL: 05-TAX LIENS/FORECLOSURES 0 0 221,451 0.0 235,221 (13,770) (5.9)
GRAND TOTAL 102,173,286 102,173,286 106,599,984 104.3 98,597,099 8,002,884 8.1
W:\Munis\MCR Library\Budget reports\2020\Canton Revenue Report. Page 2 of 2 8/25/2021Source page 7
TOWN OF CANTON
OPERATING EXPENSES BY VOTING CATEGORY
FUND 100 EXCLUDING ARTICLES
As of June 30 for Fiscal Years 2020 - 2021
FISCAL YEAR 2020
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 21 FY 21 June 30 FY 21 ENCUM. YTD FY 21 FY 21 FY 21
129 EXECUTIVE OFFICE 503,830 503,830 489,357 97.1 489,542 97.2 14,288 2.8 484,831 463,439 95.6
151 TOWN COUNSEL 299,440 355,006 212,025 59.7 345,637 97.4 9,368 2.6 308,756 257,488 83.4
154 HUMAN RESOURCES DEPT 190,259 190,259 184,353 96.9 187,353 98.5 2,906 1.5 184,076 181,133 98.4
179 PLANNING DEPARTMENT 91,376 91,376 86,873 95.1 86,873 95.1 4,503 4.9 89,581 88,420 98.7
195 TOWN REPORTS 3,000 3,000 2,935 97.8 2,935 97.8 65 2.2 2,500 2,500 100.0
244 SEALER OF WEIGHTS & MEAS 7,500 7,500 7,500 100.0 7,500 100.0 0 0.0 7,500 7,500 100.0
910 EMPLOYEE CONTRACT BENEFIT 160,000 159,636 135,176 84.7 135,343 84.8 24,293 15.2 160,000 139,037 86.9
TOTAL 01-Executive Branch 1,255,405 1,310,607 1,118,218 85.3 1,255,183 95.8 55,424 4.2 1,237,244 1,139,518 92.1
133 DIRECTOR OF FINANCE 229,015 229,015 225,341 98.4 225,341 98.4 3,674 1.6 201,498 219,115 108.7
135 ACCOUNTANT 255,642 255,642 252,698 98.8 256,124 100.2 (482) (0.2) 238,221 222,252 93.3
145 TREASURER/TAX COLLECTOR 224,759 224,759 211,649 94.2 211,649 94.2 13,110 5.8 219,539 204,164 93.0
155 INFORMATION SYSTEMS 595,957 682,037 568,327 83.3 674,869 98.9 7,168 1.1 582,700 490,584 84.2
TOTAL 02-Finance Dept 1,305,373 1,391,453 1,258,015 90.4 1,367,983 98.3 23,470 1.7 1,241,958 1,136,115 91.5
176 ZONING BOARD 27,772 27,772 16,580 59.7 16,580 59.7 11,192 40.3 27,772 22,674 81.6
241 BUILDING DEPARTMENT 359,492 359,492 356,894 99.3 356,894 99.3 2,598 0.7 350,953 354,225 100.9
TOTAL 03-Building & Zoning 387,264 387,264 373,473 96.4 373,473 96.4 13,791 3.6 378,725 376,898 99.5
215 911 DISPATCHERS - FIRE 258,113 258,113 258,113 100.0 258,113 100.0 0 0.0 241,113 241,113 100.0
220 FIRE DEPARTMENT 6,045,110 6,060,690 5,632,273 92.9 5,753,014 94.9 307,675 5.1 5,805,183 5,638,118 97.1
221 FIRE ALARMS, BOXES, ETC 22,975 22,975 28,769 125.2 28,769 125.2 (5,794) (25.2) 22,975 15,508 67.5
231 AMBULANCE SERVICE 444,030 459,429 566,516 123.3 568,151 123.7 (108,722) (23.7) 447,880 413,068 92.2
232 UNMANNED AMBULANCE 0 0 0 0.0 0 0.0 0 0.0 1,000 0 0.0
291 EMERGENCY MANAGEMENT 31,650 35,670 24,205 67.9 28,225 79.1 7,445 20.9 28,850 25,317 87.8
TOTAL 06-Fire Dept 6,801,878 6,836,877 6,509,876 95.2 6,636,273 97.1 200,604 2.9 6,547,002 6,333,124 96.7
192 PUBLIC BLDGS/PROP MAINT 610,883 621,849 543,841 87.5 571,166 91.8 50,684 8.2 606,735 512,892 84.5
400 PUBLIC WORKS ADMINISTRATI 344,687 344,937 262,639 76.1 262,639 76.1 82,298 23.9 363,357 252,998 69.6
410 ENGINEERING DEPARTMENT 250,064 252,491 254,339 100.7 254,339 100.7 (1,848) (0.7) 251,642 225,978 89.8
420 HIGHWAY MAINTENANCE 1,063,671 1,130,748 1,133,098 100.2 1,161,669 102.7 (30,921) (2.7) 1,103,578 1,201,442 108.9
W:\Munis\MCR Library\Budget reports\2020\Canton Expense Report.rpt Page 1 of 4 Date: 8/26/2021Source page 8
TOWN OF CANTON
OPERATING EXPENSES BY VOTING CATEGORY
FUND 100 EXCLUDING ARTICLES
As of June 30 for Fiscal Years 2020 - 2021
FISCAL YEAR 2020
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 21 FY 21 June 30 FY 21 ENCUM. YTD FY 21 FY 21 FY 21
425 STREET SIGNS & TRAFFIC 65,700 65,700 61,203 93.2 63,443 96.6 2,257 3.4 55,900 103,874 185.8
426 GAS & OIL FUND 61,190 61,190 62,652 102.4 62,652 102.4 (1,462) (2.4) 61,190 34,411 56.2
427 HIGHWAY EQUIPMENT MAINT 329,698 356,604 435,845 122.2 458,167 128.5 (101,563) (28.5) 370,001 394,800 106.7
491 CEMETERY MAINT 181,074 181,074 178,111 98.4 178,988 98.8 2,086 1.2 178,917 149,392 83.5
492 TREE DEPARTMENT 157,156 157,156 157,914 100.5 157,914 100.5 (758) (0.5) 150,149 163,631 109.0
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 24,124 80.4 24,124 80.4 5,876 19.6 30,000 24,471 81.6
TOTAL 07-Public Works 3,094,123 3,201,749 3,113,765 97.3 3,195,101 99.8 6,649 0.2 3,171,469 3,063,889 96.6
542 YOUTH SERVICES 5,000 5,000 3,074 61.5 3,074 61.5 1,926 38.5 5,000 1,402 28.0
630 PARKS & RECREATION 778,643 780,818 743,063 95.2 746,311 95.6 34,507 4.4 759,373 758,091 99.8
650 PARKS DEPARTMENT 92,200 92,200 56,849 61.7 73,725 80.0 18,475 20.0 52,400 54,481 104.0
TOTAL 08-Recreation & Playgr 875,843 878,018 802,987 91.5 823,110 93.7 54,908 6.3 816,773 813,973 99.7
210 POLICE DEPARTMENT 5,464,679 5,484,649 5,181,487 94.5 5,272,635 96.1 212,014 3.9 5,241,739 5,234,703 99.9
292 ANIMAL CONTROL OFFICER 137,189 137,189 112,437 82.0 112,437 82.0 24,752 18.0 134,554 121,602 90.4
TOTAL 09-Police & Animal Ctrl 5,601,868 5,621,838 5,293,925 94.2 5,385,072 95.8 236,766 4.2 5,376,293 5,356,305 99.6
131 FINANCE COMMITTEE 12,500 12,500 10,172 81.4 10,172 81.4 2,328 18.6 11,500 10,073 87.6
182 CAPITAL OUTLAY & PLANNING 2,556 2,556 489 19.1 489 19.1 2,067 80.9 2,556 233 9.1
184 BUILDINGS RENOVATIONS COM 3,200 3,200 110 3.4 110 3.4 3,090 96.6 3,200 0 0.0
545 SUBSTANCE ABUSE COMMITTEE 10,000 10,000 3,948 39.5 3,948 39.5 6,052 60.5 10,000 1,261 12.6
546 WALK,BIKE & HIKE COMMITTEE 1,000 1,000 481 48.1 481 48.1 519 51.9 1,000 0 0.0
547 DISABILITY COMMISSION 900 900 0 0.0 0 0.0 900 100.0 900 0 0.0
691 HISTORICAL COMMISSION 3,669 3,669 600 16.4 600 16.4 3,069 83.6 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 35,203 35,203 15,799 44.9 15,799 44.9 19,404 55.1 34,203 12,167 35.6
161 TOWN CLERK 216,645 219,874 217,286 98.8 217,286 98.8 2,588 1.2 215,891 212,193 98.3
163 ELECTIONS & REGISTRAR'S 66,000 69,963 72,213 103.2 72,265 103.3 (2,302) (3.3) 56,475 47,154 83.5
TOTAL 11-Town Clerk & Elected 282,645 289,837 289,498 99.9 289,551 99.9 286 0.1 272,366 259,347 95.2
W:\Munis\MCR Library\Budget reports\2020\Canton Expense Report.rpt Page 2 of 4 Date: 8/26/2021Source page 9
TOWN OF CANTON
OPERATING EXPENSES BY VOTING CATEGORY
FUND 100 EXCLUDING ARTICLES
As of June 30 for Fiscal Years 2020 - 2021
FISCAL YEAR 2020
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 21 FY 21 June 30 FY 21 ENCUM. YTD FY 21 FY 21 FY 21
141 ASSESSORS 374,513 540,013 307,987 57.0 315,987 58.5 224,026 41.5 487,847 301,378 61.8
171 CONSERVATION COMMISSION 138,633 143,673 136,832 95.2 137,582 95.8 6,091 4.2 147,619 133,640 90.5
175 PLANNING BOARD 70,734 70,734 63,638 90.0 63,638 90.0 7,096 10.0 70,898 59,393 83.8
177 SUSTAINABILITY COMMITTEE 0 0 0 0.0 0 0.0 0 0.0 0 0 0.0
198 UNPAID BILLS 0 70,072 70,327 100.4 70,327 100.4 (255) (0.4) 7,450 7,450 100.0
510 HEALTH DEPARTMENT 379,749 397,249 353,901 89.1 368,401 92.7 28,848 7.3 380,400 327,476 86.1
541 COUNCIL ON AGING 466,837 466,837 432,245 92.6 447,603 95.9 19,234 4.1 416,442 396,739 95.3
543 VETERANS SERVICES DEPARTMENT 268,653 268,653 198,400 73.8 198,400 73.8 70,253 26.2 288,790 234,900 81.3
544 REVERE & SON HERITAGE TRUST 5,652 5,652 5,324 94.2 5,324 94.2 328 5.8 1,000 2,179 217.9
548 DIVERSITY EQUITY & INCLUSION 0 0 0 0.0 0 0.0 0 0.0 0 0 0.0
610 LIBRARY 1,387,095 1,387,095 1,391,853 100.3 1,391,853 100.3 (4,758) (0.3) 1,338,762 1,325,384 99.0
TOTAL 12-Stand Alone 3,091,866 3,349,978 2,960,506 88.4 2,999,114 89.5 350,864 10.5 3,139,208 2,788,541 88.8
TOTAL 01-MUNICIPAL 22,731,468 23,302,824 21,736,063 93.3 22,340,658 95.9 962,166 4.1 22,215,240 21,279,878 95.8
710 PRINCIPAL PAYMENTS 3,879,415 4,088,314 4,110,415 100.5 4,110,415 100.5 (22,101) (0.5) 3,695,515 3,620,028 98.0
751 LONG-TERM INTEREST PAYMENTS 666,701 862,826 973,774 112.9 973,774 112.9 (110,948) (12.9) 707,618 816,229 115.3
752 SHORT-TERM INTEREST PAYMENTS 262,000 262,000 0 0.0 0 0.0 262,000 100.0 152,000 33,750 22.2
TOTAL 12-Debt Service 4,808,116 5,213,140 5,084,189 97.5 5,084,189 97.5 128,951 2.5 4,555,133 4,470,007 98.1
132 RESERVE FUND 600,000 162,829 0 0.0 0 0.0 162,829 100.0 700,000 0 0.0
422 STREET LIGHTING 91,000 91,000 79,317 87.2 79,317 87.2 11,683 12.8 93,982 62,632 66.6
423 SNOW & ICE REMOVAL 650,500 850,500 835,317 98.2 835,317 98.2 15,184 1.8 650,500 405,906 62.4
433 TRASH COLLECTION 2,090,000 2,121,806 2,096,983 98.8 2,108,447 99.4 13,359 0.6 2,056,801 2,024,995 98.5
840 BLUE HILLS REGIONAL 1,477,309 1,477,309 1,476,512 99.9 1,476,512 99.9 797 0.1 1,448,406 1,447,694 100.0
841 NORFOLK COUNTY AGRICULTR HS 20,000 20,000 16,000 80.0 16,000 80.0 4,000 20.0 20,000 19,460 97.3
911 RETIREMENT BENEFITS 6,035,616 6,035,616 6,035,583 100.0 6,035,583 100.0 33 0.0 5,638,751 5,638,718 100.0
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 12,894,282 12,894,318 12,898,486 100.0 12,898,486 100.0 (4,168) 0.0 12,456,739 12,452,037 100.0
915 EMPLOYER SHARE-LIFE INS 62,250 62,250 59,193 95.1 59,193 95.1 3,057 4.9 62,250 59,181 95.1
W:\Munis\MCR Library\Budget reports\2020\Canton Expense Report.rpt Page 3 of 4 Date: 8/26/2021Source page 10
TOWN OF CANTON
OPERATING EXPENSES BY VOTING CATEGORY
FUND 100 EXCLUDING ARTICLES
As of June 30 for Fiscal Years 2020 - 2021
FISCAL YEAR 2020
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 21 FY 21 June 30 FY 21 ENCUM. YTD FY 21 FY 21 FY 21
946 TOWN INSURANCE 1,312,368 1,262,203 1,218,901 96.6 1,254,766 99.4 7,437 0.6 1,209,807 1,133,058 93.7
990 TRANSFERS 50,970 50,970 50,970 100.0 50,970 100.0 0 0.0 0 94,885 0.0
993 OPEB TRANSFER 914,000 914,000 914,000 100.0 914,000 100.0 0 0.0 1,030,000 1,030,000 100.0
TOTAL 15-Misc. Fixed 26,298,295 26,042,801 25,781,261 99.0 25,828,591 99.2 214,210 0.8 25,467,235 24,468,565 96.1
TOTAL 02-FIXED EXPENSES 31,106,411 31,255,941 30,865,450 98.8 30,912,780 98.9 343,161 1.1 30,022,368 28,938,572 96.4
300 SCHOOL DEPARTMENT 46,186,271 49,447,603 45,078,817 91.2 49,293,682 99.7 153,922 0.3 46,971,758 44,011,807 93.7
TOTAL 17-School Admin 46,186,271 49,447,603 45,078,817 91.2 49,293,682 99.7 153,922 0.3 46,971,758 44,011,807 93.7
TOTAL 03-SCHOOL 46,186,271 49,447,603 45,078,817 91.2 49,293,682 99.7 153,922 0.3 46,971,758 44,011,807 93.7
820 CHERRY SHEET ASSESSMENTS 1,004,078 1,004,078 1,202,295 119.7 1,202,295 119.7 (198,217) (19.7) 1,016,088 969,533 95.4
830 COUNTY TAX-CHERRY SHEET 222,558 222,558 222,558 100.0 222,558 100.0 0 0.0 217,129 217,129 100.0
TOTAL 19-State & County Chgs 1,226,636 1,226,636 1,424,853 116.2 1,424,853 116.2 (198,217) (16.2) 1,233,217 1,186,662 96.2
TOTAL 05-STATE & COUNTY CHGS 1,226,636 1,226,636 1,424,853 116.2 1,424,853 116.2 (198,217) (16.2) 1,233,217 1,186,662 96.2
GRAND TOTALS : 101,250,786 105,233,005 99,105,183 94.2 103,971,973 98.8 1,261,032 1.2 100,442,583 95,416,919 95.0
W:\Munis\MCR Library\Budget reports\2020\Canton Expense Report.rpt Page 4 of 4 Date: 8/26/2021Source page 11
TOWN of CANTON
Combined Balance Sheet - All Fund Types and Account Groups
as of June 30, 2021 (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 24,932,293.20 12,808,598.56 4,166,439.99 6,378,978.48 9,897,693.35 22,396,193.18 80,580,196.76
Receivables:
Personal property taxes 93,956.74 93,956.74
Real estate taxes 535,433.66 7,098.72 542,532.38
Allowance for abatements and exemptions (4,373,130.54) (4,373,130.54)
Tax liens 1,006,044.90 5,665.34 1,011,710.24
Motor vehicle excise 925,488.46 925,488.46
User fees 1,528,175.24 1,528,175.24
Utility liens added to taxes 74,345.07 74,345.07
Departmental 804,098.52 804,098.52
Special assessments 89,570.89 64,822.95 154,393.84
Due from other governments 68,547.00 68,547.00
Other receivables (273.44) 359,331.80 359,058.36
Foreclosures/Possessions 523,968.40 523,968.40
Working deposit 245,720.28 245,720.28
Amounts to be provided - payment of bonds 1,477,000.00 1,857,000.00 21,556,865.00 23,696,891.98 48,587,756.98
Total Assets 23,712,328.38 15,551,363.83 6,023,439.99 29,603,186.74 10,143,413.63 22,396,193.18 23,696,891.98 131,126,817.73
LIABILITIES AND FUND EQUITY
Liabilities:
Accounts payable 1,541,214.60 172,743.91 244,831.51 90,214.46 129,236.00 80,400.60 2,258,641.08
Accrued payroll 1,029,242.44 61,162.59 2,330.83 41,517.64 1,180.57 1,135,434.07
Other liabilities 839,759.68 325.00 10,596.82 850,681.50
Deferred revenue:
Real and personal property taxes (3,743,740.14) 7,098.72 (3,736,641.42)
Tax liens 1,006,044.90 5,665.34 1,011,710.24
Foreclosures/Possessions 523,968.40 523,968.40
Motor vehicle excise 925,488.46 925,488.46
User fees 1,528,175.24 1,528,175.24
Utility liens added to taxes 74,345.07 74,345.07
Departmental 1,163,430.32 1,163,430.32
Special assessments 89,570.89 64,822.95 154,393.84
Due from other governments 68,547.00 68,547.00
IBNR 1,127,863.25 1,127,863.25
Agency Funds 1,347,655.30 1,347,655.30
Bonds payable 1,477,000.00 1,857,000.00 21,556,865.00 23,696,891.98 48,587,756.98
Total Liabilities 2,190,525.34 2,976,996.77 2,104,162.34 23,366,537.18 1,257,099.25 1,429,236.47 23,696,891.98 57,021,449.33
Fund Equity:
Reserved for encumbrances 4,164,472.13 392,520.62 1,261,272.68 5,725.99 5,823,991.42
Reserved for continuing appropriations 1,811,303.02 1,489,554.66 3,919,277.65 454,000.00 7,674,135.33
Reserved for expenditures 2,175,494.00 2,175,494.00
Reserved for petty cash 200.00 50.00 250.00
Reserved for working deposit 245,720.28 245,720.28
Undesignated fund balance 13,370,333.89 10,692,291.78 8,640,594.10 20,961,230.72 53,664,450.49
Unreserved retained earnings 4,521,326.88 4,521,326.88
Total Fund Equity 21,521,803.04 12,574,367.06 3,919,277.65 6,236,649.56 8,886,314.38 20,966,956.71 0.00 74,105,368.40
Total Liabilities and Fund Equity 23,712,328.38 15,551,363.83 6,023,439.99 29,603,186.74 10,143,413.63 22,396,193.18 23,696,891.98 131,126,817.73