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General Fund FYE23 Operating Results memo 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: Select Board
FROM: Randy Scollins, Finance Director
DATE: September 5, 2023
SUBJECT: General Fund Fiscal 2023 Operating Results
Having recently closed the books for fiscal 2023, 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, 2023
Budgeted Revenues and Expenditures
The summary report compares budgeted revenues and expenditures against actuals for
fiscal 2022 and 2023. The fiscal 2023 budgeted deficit of $2,978,000 was due to cash
reserves used for the following items:
Galvin Middle School Feasibility Study $1,500,000
Capital Stabilization Deposit – Galvin Middle School earmark 1,000,000
Transfer to School SPED Reserve 250,000
Fire Contract – EMS Stipends 178,000
July 4th Community Celebration 35,000
Drainage easement at 145 Sherman Street 10,000
Community Recognition 5,000
Total Cash Reserves $2,978,000
Actual Revenues and Expenditures
Fiscal 2023 was another solid year for the Town, financially speaking, with revenues
coming in ahead of expenditures by $3.37 million. Compared to the budgeted deficit of
$2.98 million the total operating surplus was $6.35 million better than plan.
The revenue and expenditure variances to plan are as follows:Source page 2
General Fund’s Fiscal 2023 Operating Results
September 5, 2023
Page 2 of 4
Local Receipts (excise taxes, bldg. permits, misc. revenues, P.I.L.O.T. pmts.) $4,327,625
Transfers from Other funds (variance primarily from Solar facility) 582,183
Tax Title Revenue 222,957
State Aid 103,329
Property Tax Revenue (99.6% collection rate w/in year of tax) -336,480
Total Revenue Surplus $4,899,614
Unspent appropriations (mostly municipal budgets and fixed costs) 1,446,025
Total Variance to Plan $6,345,639
FYE 2023 revenue performance was improved by a variety of factors impacting each of
three of the four primary revenue categories, Local Receipts, Transfers and State Aid.
Local Receipts continued their rebound in FY ’23, beating budget by $4.33MM and prior
year by $2.44MM. 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.
Local Receipts variances to plan are as follows:
Earnings on Investments $1,369,776
(988.0% improvement over prior year! – Highest earnings on record.
Federal Funds Target Rate increased from 1.5% at 7/1/22 to 5.25% at 6/30/23,
or 350%. The Town’s Treasury division actively managed its cash
investments in this rate hypergrowth environment.)
Motor Vehicle Excise (5.5% improvement over prior year.) 1,049,490
Building and Related Permits 601,923
Other Miscellaneous Revenue 402,016
(Includes $216.9K In Lieu of Borrowing repayment by Housing Trust, $128.7K
Opioid Settlement receipts - $153.9K received to date, $38.1K Blue Hills
Regional Over Assessment, $32.7K Uncashed Checks harvested, $10K
Insurance overpayment, $6.8K Unclaimed Property returned by the State.)
Hotel Excise ($537K in FY ’23, is Highest on Record by 68%, reflecting the 342,469
addition of the Hilton Garden Inn that opened during COVID.)
Meals Excise ($486K-Highest on Record by 8.6%, despite restaurant closures) 331,134
School Medicaid Reimbursements (Highly variable) 143,868
All Other 9 Local Receipts Categories 86,949
Total Local Receipts Variance to Plan $4,327,625
As noted above, funding from Transfers were better than plan by $582,183 entirely
related to the rate received on Net Metering Credits (NMC) being the highest on record
since the Pine Street Solar Farm was constructed. The NMC rates do vary as they are
impacted by market prices, which are reset twice per year. The FY ’23 average NMC
rate was $0.3189 per Kilowatt. The range on this rate prior to FY ’23 was $0.1613 in the
farm’s first year in 2013 to $0.2360 in FY ’22. The FY ’23 average rate was 35.1%
higher than the previous high in FY ’22. Please note that the rate has since be reset due
to market conditions to $0.2594 for the balance of the 2023 calendar year.
FY ’23 Kilowatts generated by the Solar Farm were 6,570,480, the second highest in its
history. The range of Kilowatts generated has been from 5,946,690 in FY ’18 to
6,809,400 in FY ’19.Source page 3
General Fund’s Fiscal 2023 Operating Results
September 5, 2023
Page 3 of 4
State Aid came in $103.3K higher than budget, with $63.6K attributed to higher Lottery
Aid, $36.2K in higher Property Tax Exemption reimbursements, and $4.2K in higher
Charter School Reimbursements.
Property Tax revenue collections for FY 2023 were $336K less than plan. The
collection rate of 99.63% on FY ‘23 net property taxes in FY ’23 was 1.05% higher than
FY ’22. The collection rate is typically over 99%. As of this writing the FY ’23 collection
rate is 100.13%
“New Property Tax Growth” came in slightly higher than plan. Real Estate and Personal
Property New Growth taxes were $68.8K and $24.1K better than plan, respectively, or
$92.9K combined.
On the expenditure side, it was another positive year with ~$1.45MM in appropriation
turn backs with the top 12 returning the following:
Fincom Reserve Fund 423,288
Fire Department 187,168
Public Works 102,909
Assessors 97,342
Town General Insurance 86,418
Recreation Department 83,736
Executive Branch 81,626
Veterans Department 80,299
Health Department 59,226
Debt Service 56,536
State & County Assessments 54,848
School Department 42,961
All 20 Other Voted Budgets 89,668
Total Appropriation Turn Backs $1,446,025
Status of Cash Reserves
The attached balance sheet report prepared as of June 30, 2023 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 $10.0 million as of
June 30, 2023. Please know that the final determination as to the Town’s free cash
reserve is made by the Department of Revenue in the Fall.
As an outcome of the operating results from fiscal 2023, the Town’s estimated cash
reserves have increased to $24.7 million as follows:
Stabilization Fund $ 10,303,955
Free Cash Reserve - estimate 10,000,000
Surplus Overlay Reserve (net of pending ATB cases) 4,443,545
Total $ 24,747,500
These reserves amount to 20.12% of fiscal 2024’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 2023.Source page 4
General Fund’s Fiscal 2023 Operating Results
September 5, 2023
Page 4 of 4
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: Kathy Butters, Town Accountant
Charles Doody, Town Administrator
Derek Folan, Superintendent of Schools
Stephen Marshall, Asst. Superintendent Director of Finance & Operations
Kendall O'Halloran, Chair, School Committee
Cindy Thomas, Chair, Finance CommitteeSource page 5
SUMMARY OF REVENUES AND EXPENDITURES
CURRENT FISCAL YEAR PRIOR FISCAL YEAR
FY 2023 FY 2023 Actuals vs. FY 2022 FY 2022 Actuals vs.
Revised Budget ACTUAL Revised Budget Revised Budget ACTUAL Revised Budget
GENERAL FUND REVENUES:
PROPERTY TAX REVENUE 90,361,116 90,024,636 (336,480) 85,687,763 86,840,178 1,152,415
STATE AID 10,697,742 10,801,071 103,329 9,328,290 9,557,997 229,707
LOCAL RECEIPTS 8,800,000 13,127,625 4,327,625 8,800,000 10,690,006 1,890,006
TRANSFERS FROM OTHER FUNDS 2,870,617 3,452,800 582,183 2,871,011 3,221,718 350,707
TAX TITLE / FORECLOSURE REVENUE 0 222,957 222,957 0 148,855 148,855
TOTAL REVENUES 112,729,475 117,629,089 4,899,614 106,687,064 110,458,754 3,771,690
GENERAL FUND EXPENDITURES:
SCHOOL EXPENSES 50,658,405 50,615,444 42,961 47,792,662 47,739,008 53,654
MUNICIPAL EXPENSES 25,025,058 24,254,458 770,600 23,618,027 23,165,390 452,637
FIXED COSTS 33,568,679 32,991,063 577,616 32,161,949 31,323,347 838,602
TOTAL OPERATING EXPENSES 109,252,142 107,860,965 1,391,177 103,572,638 102,227,745 1,344,893
CASH CAPITAL EXPENDITURES 1,909,000 1,909,000 0 1,636,509 1,636,328 181
TRANSFERS TO STABILIZATION FUNDS 1,000,000 1,000,000 0 660,000 660,000 0
SPECIAL APPROPRIATIONS 1,978,000 1,978,000 0 2,552,418 2,552,393 26
STATE & COUNTY CHARGES 1,568,333 1,513,485 54,848 1,428,426 1,495,914 (67,488)
TOTAL EXPENDITURES 115,707,475 114,261,450 1,446,025 109,849,991 108,572,380 1,277,611
SURPLUS/(DEFICIT) - GENERAL FUND (2,978,000) 3,367,639 6,345,639 (3,162,927) 1,886,374 5,049,301
ATMDATA - 3-28-23.xlsx FYE 23 GF Summary 8/29/2023Source page 6
TOWN OF CANTON, MA
REVENUE REPORT
SUMMARY OF REVENUE ACCOUNTS FOR FUND
As of June 30
FY 2023 FY 2023 FY2023 % OF FY 2022 FY 2023 YTD ACTUAL vs.
ORIGINAL REVISED YTD ANNUAL YTD FY 2022 YTD ACTUAL
BUDGET BUDGET ACTUAL BUDGET ACTUAL $$ VARIANCE % VARIANCE
01-PROPERTY TAXES
10011 PERSONAL PROPERTY TAXES 5,500,000 5,381,785 97.9 5,627,796 (246,011) (4.4)
5,500,000
10012 REAL ESTATE TAXES 84,861,116 84,642,851 99.7 81,212,382 3,430,468 4.2
84,861,116
TOTAL: 01-PROPERTY TAXES 90,361,116 90,361,116 90,024,636 99.6 86,840,178 3,184,458 3.7
02-LOCAL RECEIPTS
10015 MOTOR VEHICLE EXCISE 4,241,000 4,241,000 5,290,490 124.7 5,014,394 276,096 5.5
10016 OTHER EXCISE-HOTEL/MEALS TAX 350,000 350,000 1,023,603 292.5 718,256 305,347 42.5
10017 PENALTIES & INTEREST 275,000 275,000 313,655 114.1 284,510 29,144 10.2
10018 PAYMENTS IN LIEU OF TAXES 1,937,915 1,937,915 1,937,379 100.0 1,882,844 54,535 2.9
10032 FEES 170,000 170,000 159,153 93.6 173,284 (14,132) (8.2)
10036 RENTALS 200,000 200,000 176,005 88.0 236,884 (60,878) (25.7)
10037 OTHER DEPARTMENT REVENUE 100,000 100,000 91,482 91.5 97,545 (6,063) (6.2)
10041 ALCOHOL LICENSES 65,000 65,000 82,400 126.8 88,540 (6,140) (6.9)
10042 OTHER LICENSES 75,000 75,000 85,253 113.7 93,702 (8,449) (9.0)
10045 PERMITS 956,085 956,085 1,558,008 163.0 1,427,740 130,268 9.1
10054 OTHER MISC FEDERAL REVENUE 0 0 61,330 0.0 0 61,330 0.0
10077 FINES AND FORFEITS 55,000 55,000 58,206 105.8 39,461 18,745 47.5
10082 EARNINGS ON INVESTMENTS 175,000 175,000 1,544,776 882.7 156,257 1,388,518 888.6
10084 OTHER MISC. REVENUE 100,000 100,000 502,016 502.0 117,528 384,489 327.1
10085 REIMBURSEMENTS 100,000 100,000 243,868 243.9 359,061 (115,193) (32.1)
TOTAL: 02-LOCAL RECEIPTS 8,800,000 8,800,000 13,127,625 149.2 10,690,006 2,437,619 22.8
03-STATE AID
10062 EDUCATION DIST & REIMB. 8,051,641 8,051,641 8,055,849 100.1 6,849,129 1,206,720 17.6
10066 GEN GVMT REIMB & DISTRIB 2,646,101 2,646,101 2,745,222 103.7 2,708,868 36,354 1.3
TOTAL: 03-STATE AID 10,697,742 10,697,742 10,801,071 101.0 9,557,997 1,243,074 13.0
04-TRNS. FROM OTHER FUNDS
10097 OTHER FIN SRC-TRANSFERS 2,870,617 2,870,617 3,452,800 120.3 3,521,718 (68,918) (2.0)
W:\Munis\MCR Library\Budget reports\2020\Canton Revenue Report. Page 1 of 2 8/23/2023Source page 7
TOWN OF CANTON, MA
REVENUE REPORT
SUMMARY OF REVENUE ACCOUNTS FOR FUND
As of June 30
FY 2023 FY 2023 FY2023 % OF FY 2022 FY 2023 YTD ACTUAL vs.
ORIGINAL REVISED YTD ANNUAL YTD FY 2022 YTD ACTUAL
BUDGET BUDGET ACTUAL BUDGET ACTUAL $$ VARIANCE % VARIANCE
TOTAL: 04-TRNS. FROM OTHER FUNDS 2,870,617 2,870,617 3,452,800 120.3 3,521,718 (68,918) (2.0)
05-TAX LIENS/FORECLOSURES
10014 TAX LIENS/TAX TITLES 0 0 222,957 0.0 148,855 74,102 49.8
TOTAL: 05-TAX LIENS/FORECLOSURES 0 0 222,957 0.0 148,855 74,102 49.8
GRAND TOTAL 112,729,475 112,729,475 117,629,089 104.3 110,758,755 6,870,334 6.2
W:\Munis\MCR Library\Budget reports\2020\Canton Revenue Report. Page 2 of 2 8/23/2023Source page 8
TOWN OF CANTON
OPERATING EXPENSES BY VOTING CATEGORY
FUND 100 EXCLUDING ARTICLES
As of June 30 for Fiscal Years 2022 - 2023
FISCAL YEAR 2022
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 23 FY 23 June 30 FY 23 ENCUM. YTD FY 23 FY 23 FY 23
129 EXECUTIVE OFFICE 526,722 532,447 571,598 107.4 571,598 107.4 (39,151) (7.4) 516,550 498,371 96.5
151 TOWN COUNSEL 299,440 321,830 305,995 95.1 316,512 98.3 5,317 1.7 433,052 295,279 68.2
154 HUMAN RESOURCES DEPT 205,264 212,023 199,145 93.9 207,280 97.8 4,743 2.2 198,859 193,431 97.3
179 PLANNING DEPARTMENT 95,488 95,488 52,090 54.6 52,090 54.6 43,398 45.4 92,997 71,014 76.4
195 TOWN REPORTS 3,150 3,150 3,183 101.0 3,183 101.0 (33) (1.0) 3,000 2,920 97.3
244 SEALER OF WEIGHTS & MEAS 7,500 7,500 7,600 101.3 7,600 101.3 (100) (1.3) 7,500 7,575 101.0
910 EMPLOYEE CONTRACT BENEFIT 691,928 209,635 141,556 67.5 142,183 67.8 67,452 32.2 168,170 140,388 83.5
TOTAL 01-Executive Branch 1,829,492 1,382,073 1,281,166 92.7 1,300,447 94.1 81,626 5.9 1,420,128 1,208,978 85.1
133 DIRECTOR OF FINANCE 237,398 239,557 237,987 99.3 237,987 99.3 1,570 0.7 232,764 233,162 100.2
135 ACCOUNTANT 312,992 315,566 311,486 98.7 311,486 98.7 4,080 1.3 280,994 284,216 101.1
145 TREASURER/TAX COLLECTOR 233,323 238,337 228,353 95.8 228,353 95.8 9,984 4.2 231,289 216,076 93.4
155 INFORMATION SYSTEMS 676,663 816,417 694,653 85.1 816,646 100.0 (229) 0.0 740,348 614,517 83.0
TOTAL 02-Finance Dept 1,460,376 1,609,877 1,472,480 91.5 1,594,473 99.0 15,404 1.0 1,485,394 1,347,970 90.7
176 ZONING BOARD 28,587 28,587 13,763 48.1 13,763 48.1 14,824 51.9 27,772 20,982 75.6
241 BUILDING DEPARTMENT 388,376 405,436 415,045 102.4 415,045 102.4 (9,609) (2.4) 372,381 374,947 100.7
TOTAL 03-Building & Zoning 416,963 434,023 428,807 98.8 428,807 98.8 5,216 1.2 400,153 395,929 98.9
215 911 DISPATCHERS - FIRE 273,832 273,832 273,831 100.0 273,831 100.0 1 0.0 265,856 265,856 100.0
220 FIRE DEPARTMENT 6,645,940 6,822,311 6,650,728 97.5 6,736,744 98.7 85,566 1.3 6,592,943 6,535,805 99.1
221 FIRE ALARMS, BOXES, ETC 26,900 26,900 5,102 19.0 5,102 19.0 21,798 81.0 22,975 13,906 60.5
231 AMBULANCE SERVICE 466,436 470,417 365,853 77.8 395,981 84.2 74,436 15.8 445,665 484,463 108.7
232 UNMANNED AMBULANCE 0 0 0 0.0 0 0.0 0 0.0 0 0 0.0
291 EMERGENCY MANAGEMENT 34,650 38,670 29,284 75.7 33,304 86.1 5,366 13.9 35,670 26,413 74.0
TOTAL 06-Fire Dept 7,447,758 7,632,129 7,324,797 96.0 7,444,962 97.5 187,168 2.5 7,363,109 7,326,443 99.5
192 PUBLIC BLDGS/PROP MAINT 630,924 703,751 678,535 96.4 734,963 104.4 (31,212) (4.4) 652,742 539,984 82.7
400 PUBLIC WORKS ADMINISTRATI 395,606 398,639 304,517 76.4 314,429 78.9 84,210 21.1 399,508 263,111 65.9
410 ENGINEERING DEPARTMENT 262,088 323,365 217,393 67.2 248,885 77.0 74,480 23.0 257,738 268,250 104.1
420 HIGHWAY MAINTENANCE 1,125,560 1,169,424 1,183,126 101.2 1,192,856 102.0 (23,432) (2.0) 1,112,642 1,160,161 104.3
W:\Munis\MCR Library\Budget reports\2020\Canton Expense Report.rpt Page 1 of 4 Date: 8/24/2023Source page 9
TOWN OF CANTON
OPERATING EXPENSES BY VOTING CATEGORY
FUND 100 EXCLUDING ARTICLES
As of June 30 for Fiscal Years 2022 - 2023
FISCAL YEAR 2022
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 23 FY 23 June 30 FY 23 ENCUM. YTD FY 23 FY 23 FY 23
425 STREET SIGNS & TRAFFIC 75,700 83,387 53,989 64.7 57,929 69.5 25,458 30.5 77,941 82,888 106.3
426 GAS & OIL FUND 61,190 61,190 74,036 121.0 74,036 121.0 (12,846) (21.0) 61,190 71,289 116.5
427 HIGHWAY EQUIPMENT MAINT 385,786 417,205 423,552 101.5 435,062 104.3 (17,857) (4.3) 360,762 381,189 105.7
491 CEMETERY MAINT 187,404 191,990 184,994 96.4 184,994 96.4 6,996 3.6 187,250 179,394 95.8
492 TREE DEPARTMENT 162,834 167,201 163,370 97.7 163,370 97.7 3,831 2.3 162,637 139,768 85.9
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 36,718 122.4 36,718 122.4 (6,718) (22.4) 30,000 32,774 109.2
TOTAL 07-Public Works 3,317,092 3,546,152 3,320,230 93.6 3,443,243 97.1 102,909 2.9 3,302,411 3,118,808 94.4
542 YOUTH SERVICES 5,000 5,000 5,220 104.4 5,220 104.4 (220) (4.4) 5,000 2,562 51.2
630 PARKS & RECREATION 886,277 913,813 825,073 90.3 842,783 92.2 71,030 7.8 859,059 874,245 101.8
650 PARKS DEPARTMENT 80,000 84,468 65,398 77.4 71,542 84.7 12,926 15.3 96,875 68,111 70.3
TOTAL 08-Recreation & Playgr 971,277 1,003,281 895,691 89.3 919,546 91.7 83,736 8.3 960,934 944,917 98.3
210 POLICE DEPARTMENT 5,724,898 6,095,786 6,038,863 99.1 6,098,584 100.0 (2,798) 0.0 5,741,405 5,594,629 97.4
292 ANIMAL CONTROL OFFICER 135,017 137,685 132,376 96.1 132,376 96.1 5,309 3.9 137,948 122,343 88.7
TOTAL 09-Police & Animal Ctrl 5,859,915 6,233,471 6,171,239 99.0 6,230,959 100.0 2,512 0.0 5,879,353 5,716,972 97.2
131 FINANCE COMMITTEE 12,500 12,500 10,140 81.1 10,140 81.1 2,360 18.9 12,500 14,959 119.7
177 SUSTAINABILITY COMMITTEE 3,000 3,000 2,183 72.8 2,183 72.8 817 27.2 1,000 2,433 243.3
182 CAPITAL OUTLAY & PLANNING 2,556 2,556 1,430 55.9 1,430 55.9 1,126 44.1 2,556 98 3.8
184 BUILDINGS RENOVATIONS COM 3,200 3,200 0 0.0 0 0.0 3,200 100.0 3,200 0 0.0
545 SUBSTANCE ABUSE COMMITTEE 10,000 16,565 10,046 60.6 15,896 96.0 669 4.0 10,000 3,435 34.3
546 WALK,BIKE & HIKE COMMITTEE 1,000 1,000 2,249 224.9 2,249 224.9 (1,249) (124.9) 1,000 300 30.0
547 DISABILITY COMMISSION 400 400 0 0.0 0 0.0 400 100.0 900 0 0.0
691 HISTORICAL COMMISSION 3,669 3,669 3,100 84.5 3,100 84.5 569 15.5 3,669 2,700 73.6
692 BEAUTIFICATION COMMITTEE 692 692 0 0.0 0 0.0 692 100.0 1,378 0 0.0
TOTAL 10-Committees & Commissions 37,017 43,582 29,148 66.9 34,998 80.3 8,584 19.7 36,203 23,925 66.1
161 TOWN CLERK 224,429 230,846 231,236 100.2 231,279 100.2 (433) (0.2) 224,053 218,805 97.7
163 ELECTIONS & REGISTRAR'S 77,610 82,953 77,432 93.3 78,922 95.1 4,031 4.9 66,052 47,349 71.7
W:\Munis\MCR Library\Budget reports\2020\Canton Expense Report.rpt Page 2 of 4 Date: 8/24/2023Source page 10
TOWN OF CANTON
OPERATING EXPENSES BY VOTING CATEGORY
FUND 100 EXCLUDING ARTICLES
As of June 30 for Fiscal Years 2022 - 2023
FISCAL YEAR 2022
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 23 FY 23 June 30 FY 23 ENCUM. YTD FY 23 FY 23 FY 23
TOTAL 11-Town Clerk & Elected 302,039 313,799 308,668 98.4 310,201 98.9 3,598 1.1 290,105 266,154 91.7
141 ASSESSORS 394,311 406,227 300,885 74.1 308,885 76.0 97,342 24.0 388,926 290,250 74.6
171 CONSERVATION COMMISSION 171,052 175,063 153,902 87.9 163,427 93.4 11,636 6.6 163,907 154,843 94.5
175 PLANNING BOARD 75,079 76,826 69,692 90.7 69,692 90.7 7,134 9.3 73,670 73,491 99.8
198 UNPAID BILLS 0 336 336 100.0 336 100.0 0 0.0 15,207 15,207 100.0
510 HEALTH DEPARTMENT 404,442 424,979 349,159 82.2 365,753 86.1 59,226 13.9 393,919 360,843 91.6
541 ELDER & HUMAN SERVICES 501,726 511,351 507,569 99.3 507,693 99.3 3,659 0.7 509,450 505,747 99.3
543 VETERANS SERVICES DEPARTMENT 311,639 312,373 229,420 73.4 232,074 74.3 80,299 25.7 274,041 198,312 72.4
544 REVERE & SON HERITAGE TRUST 41,704 41,704 41,698 100.0 41,698 100.0 6 0.0 11,704 11,234 96.0
548 DIVERSITY EQUITY & INCLUSION 4,500 4,500 4,500 100.0 4,500 100.0 0 0.0 3,500 3,112 88.9
610 LIBRARY 1,478,676 1,503,933 1,483,388 98.6 1,483,388 98.6 20,545 1.4 1,488,116 1,482,209 99.6
TOTAL 12-Stand Alone 3,383,129 3,457,293 3,140,549 90.8 3,177,445 91.9 279,848 8.1 3,322,440 3,095,249 93.2
TOTAL 01-MUNICIPAL 25,025,058 25,655,680 24,372,774 95.0 24,885,080 97.0 770,600 3.0 24,460,231 23,445,345 95.9
710 PRINCIPAL PAYMENTS 3,777,683 3,777,683 3,753,902 99.4 3,753,902 99.4 23,781 0.6 3,544,621 3,690,100 104.1
751 LONG-TERM INTEREST PAYMENTS 957,722 957,722 924,967 96.6 924,967 96.6 32,755 3.4 802,296 856,178 106.7
752 SHORT-TERM INTEREST PAYMENTS 0 0 0 0.0 0 0.0 0 0.0 265,200 0 0.0
TOTAL 12-Debt Service 4,735,405 4,735,405 4,678,869 98.8 4,678,869 98.8 56,536 1.2 4,612,117 4,546,278 98.6
132 RESERVE FUND 600,000 423,288 0 0.0 0 0.0 423,288 100.0 230,044 0 0.0
422 STREET LIGHTING 75,000 75,000 74,999 100.0 74,999 100.0 1 0.0 77,500 77,265 99.7
423 SNOW & ICE REMOVAL 650,500 510,500 510,500 100.0 510,500 100.0 0 0.0 783,500 758,519 96.8
433 TRASH COLLECTION 2,447,500 2,525,431 2,501,536 99.1 2,529,282 100.2 (3,851) (0.2) 2,458,964 2,298,132 93.5
840 BLUE HILLS REGIONAL 1,603,337 1,570,837 1,570,786 100.0 1,570,786 100.0 51 0.0 1,472,906 1,472,906 100.0
841 NORFOLK COUNTY AGRICULTR HS 50,000 50,000 38,196 76.4 38,196 76.4 11,804 23.6 20,000 19,800 99.0
911 RETIREMENT BENEFITS 6,932,851 6,932,851 6,932,851 100.0 6,932,851 100.0 0 0.0 6,463,772 6,449,186 99.8
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 13,045,159 12,967,659 12,967,659 100.0 12,967,659 100.0 0 0.0 13,143,953 12,856,382 97.8
915 EMPLOYER SHARE-LIFE INS 62,250 62,250 58,882 94.6 58,882 94.6 3,368 5.4 62,250 58,387 93.8
W:\Munis\MCR Library\Budget reports\2020\Canton Expense Report.rpt Page 3 of 4 Date: 8/24/2023Source page 11
TOWN OF CANTON
OPERATING EXPENSES BY VOTING CATEGORY
FUND 100 EXCLUDING ARTICLES
As of June 30 for Fiscal Years 2022 - 2023
FISCAL YEAR 2022
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 23 FY 23 June 30 FY 23 ENCUM. YTD FY 23 FY 23 FY 23
946 TOWN INSURANCE 1,460,666 1,533,847 1,333,831 87.0 1,447,430 94.4 86,418 5.6 1,403,711 1,262,147 89.9
990 TRANSFERS 656,011 693,350 693,350 100.0 693,350 100.0 0 0.0 98,497 98,497 100.0
993 OPEB TRANSFER 1,150,000 1,150,000 1,150,000 100.0 1,150,000 100.0 0 0.0 1,050,000 1,050,000 100.0
TOTAL 15-Misc. Fixed 28,833,274 28,595,013 27,932,589 97.7 28,073,934 98.2 521,080 1.8 27,365,097 26,501,221 96.8
TOTAL 02-FIXED EXPENSES 33,568,679 33,330,418 32,611,457 97.8 32,752,802 98.3 577,616 1.7 31,977,214 31,047,499 97.1
300 SCHOOL DEPARTMENT 50,658,405 55,384,985 50,568,968 91.3 55,342,024 99.9 42,961 0.1 51,557,656 46,777,422 90.7
TOTAL 17-School Admin 50,658,405 55,384,985 50,568,968 91.3 55,342,024 99.9 42,961 0.1 51,557,656 46,777,422 90.7
TOTAL 03-SCHOOL 50,658,405 55,384,985 50,568,968 91.3 55,342,024 99.9 42,961 0.1 51,557,656 46,777,422 90.7
820 CHERRY SHEET ASSESSMENTS 1,337,992 1,337,992 1,283,299 95.9 1,283,299 95.9 54,693 4.1 1,203,703 1,236,874 102.8
830 COUNTY TAX-CHERRY SHEET 230,341 230,341 230,186 99.9 230,186 99.9 155 0.1 224,723 224,723 100.0
TOTAL 19-State & County Chgs 1,568,333 1,568,333 1,513,485 96.5 1,513,485 96.5 54,848 3.5 1,428,426 1,461,597 102.3
TOTAL 05-STATE & COUNTY CHGS 1,568,333 1,568,333 1,513,485 96.5 1,513,485 96.5 54,848 3.5 1,428,426 1,461,597 102.3
GRAND TOTALS : 110,820,475 115,939,416 109,066,685 94.1 114,493,391 98.8 1,446,025 1.2 109,423,526 102,731,863 93.9
W:\Munis\MCR Library\Budget reports\2020\Canton Expense Report.rpt Page 4 of 4 Date: 8/24/2023Source page 12
CANTON
Combined Balance Sheet - All Fund Types and Account Groups
as of June 30, 2023
(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 33,100,588.99 22,024,612.51 13,260,905.41 6,678,842.84 12,102,015.12 24,961,701.65 112,128,666.52
Receivables:
Personal property taxes 78,616.14 78,616.14
Real estate taxes 663,035.04 663,035.04
Allowance for abatements and exemptions (6,301,328.18) (6,301,328.18)
Tax liens 1,139,569.06 6,702.93 95,455.81 1,241,727.80
Motor vehicle excise 868,288.29 868,288.29
User fees 793,276.10 793,276.10
Utility liens added to taxes 0.00
Departmental 1,691,047.60 1,691,047.60
Special assessments 57,852.62 609,547.18 667,399.80
Due from other governments 0.00
Foreclosures/Possessions 523,968.40 523,968.40
Prepaids 0.00
Working deposit 388,972.92 388,972.92
Inventory 0.00
Amounts to be provided - payment of bonds 1,107,000.00 30,242,137.75 30,018,493.99 61,367,631.74
Total Assets 30,072,737.74 24,887,215.66 13,260,905.41 38,419,259.68 12,490,988.04 24,961,701.65 30,018,493.99 174,111,302.17
LIABILITIES AND FUND EQUITY
Liabilities:
Accounts payable 1,628,673.58 741,891.39 81,206.44 59,462.13 137,214.36 21,069.71 2,669,517.61
Accrued payroll 706,490.27 70,914.07 38,003.84 197.69 815,605.87
Withholdings 384,986.27 384,986.27
Due to/from other funds 0.00
Other liabilities 325.00 10,586.18 10,911.18
Deferred revenue:
Real and personal property taxes (5,559,677.00) (5,559,677.00)
Tax liens 1,139,569.06 1,139,569.06
Foreclosures/Possessions 523,968.40 523,968.40
Motor vehicle excise 868,288.29 868,288.29
User fees 793,257.10 793,257.10
Utility liens added to taxes 6,702.93 95,455.81 102,158.74
Departmental 1,691,047.60 1,691,047.60
Special assessments 57,852.62 609,566.18 667,418.80
Due from other governments 0.00
Tailings 0.00
IBNR 1,295,361.85 1,295,361.85
Agency Funds 0.00
Bonds payable 1,107,000.00 30,242,137.75 30,018,493.99 61,367,631.74
Total Liabilities (307,701.13) 3,675,733.61 81,206.44 31,848,468.99 1,432,576.21 21,267.40 30,018,493.99 66,770,045.51
Fund Equity:
Reserved for encumbrances 4,571,521.61 25,977.35 2,765,655.85 0.00 7,363,154.81
Reserved for expenditures 3,743,077.00 1,615,377.79 83,000.00 5,441,454.79
Reserved for continuing appropriations 4,884,904.04 2,389,324.42 1,473,549.67 1,290,351.15 15,888.92 10,054,018.20
Reserved for petty cash 200.00 50.00 250.00
Reserved for working deposit 61,800.00 61,800.00
Undesignated fund balance 17,180,736.22 17,180,802.49 8,940,493.45 10,996,611.83 24,924,545.33 79,223,189.32
Unreserved retained earnings 5,197,389.54 5,197,389.54
Total Fund Equity 30,380,438.87 21,211,482.05 13,179,698.97 6,570,790.69 11,058,411.83 24,940,434.25 0.00 107,341,256.66
Total Liabilities and Fund Equity 30,072,737.74 24,887,215.66 13,260,905.41 38,419,259.68 12,490,988.04 24,961,701.65 30,018,493.99 174,111,302.17