Canton, Massachusetts · Saved source text
FINCOM 20170208 Mtg Handouts
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Source page 1
REVENUE FORECASTING POLICY Revenue surpluses are more desirable than revenue deficits. Therefore, the process of estimating revenues is not designed to reach a number which has an equal probability of being exceeded or producing a shortfall. Rather, the objective is to develop an estimate, based on historical averages and current available information, which has a substantial chance of being met and a small chance of falling short. REVENUE FORECASTING POLICY.DOC
Source page 2
SUMMARY OF GENERAL REVENUES AND EXPENDITURES -~
FY 2012 FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 FY 2017 FY 2018
ACTUAL ACTUAL ACTUAL ACTUAL ACTUAL BUDGET ESTIMATE ESTIMATE
GENERAL FUND REVENUES:
PROPERTY TAX REVENUE 57,020,621 58,943,238 61,389,516 63,587,464 67,267,824 69,587,305 69,956,355 73,073,334
STATE AID 6,972,715 7,767,007 8,166,757 7,553,514 7,891,869 8,052,320 8,224,875 1 8,868,080
LOCAL RECEIPTS 5,702,014 6,594,642 6,982,273 7,720,938 7,801,500 6,263,040 6,263,040 6,468,816
TRANSFERS FROM OTHER FUNDS 2,404,929 2,664,482 3,004,822 2,966,964 3,249,544 2,248,003 2.,267,025 2,340,524
TAX TITLE /FORECLOSURE REVENUE 371,909 219,963 782,539 351,721 147,456 0 78,707 0
TOTAL REVENUES 72,472,188 76,189,331 80,325,907 82,180,601 86,358,192 86,150,668 86,790,001 90,750,753
GENERAL FUND EXPENDITURES: __ _ _ __ _~
SCHOOL PRIOR YEAR BUDGET 36,259,994 ~ 38,077,710
SCHOOL STEPS &LANES ~ ~ 350,709 331,120
SCHOOL COLA'S 796,085 1,037,732
SCHOOL BUDGET ADJUSTMENT NEEDED TO BALANCE ~ 1,165,922' 774,997
SCHOOL EXPENSES 30,390,978 32,011,496 33,395,505 34,627,548 36,259,290 38,572,738,572,710 40,221,559
MUNICIPAL PRIOR YEAR BUDGET 8,101,726 19,016,901
MUNICIPAL STEP/LONGEVITY INCREASES ~ 129,968 164,858
MUNICIPAL COLA'S 243,043 236,969
MUNICIPAL BUDGET ADJUSTMENT NEEDED TO BALANCE 542,164 500,348
MUNICIPAL EXPENSES 15,562,479 16,079,678 16,918,738 17,488,884 18,136,889 19,016,901 19,016,901 19,919,076
FIXED COSTS 23,055,030 23,857,242 24,674,243 25,451,017 i 25,878,984 26,804,887 26,857,974 28,175,270
TOTAL OPERATING EXPENSES 69,008,487 71,948,416 74,988,486 77,567,449 80,275,163 84,394,498 ' 84,447,585 88,315,904
CASH CAPITAL EXPENDITURES 1,119,429 ' 2.,087,710 1,821,917 1,765,198 2,120,500 1,972,000 1,972,000 1,400,000
TRANSFERS TO STABILIZATION FUNDS 690,000 400,000 485,000 700,000 600,000 0 0 0
SPECIAL APPROPRIATIONS 0 120,000 70,000 85,000 183,069 159,265 159,265 0
STATE &COUNTY CHARGES 874,821 959,538 959,868 944,583 927,338 956,905 1,002,359 1,034,849
TOTAL EXPENDITURES 71,692,737 75,515,665 78,325,271 81,062,230 84,706,070 87,482,668 87,581,209 90,750,753
OPERATING SURPLUS/(DEFICIT)-GENERAL FUND 779,452 673,666 ' 2,000,636 1,118,371 2,252,122 (1,332,000). (791,208) 0
ATM DATA.xlsx summary 1 /26/2017Source page 3
PROPERTY TAX REVENUE
A W Y AA AC AE AF AG AH
1
2 FY 2012 FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 FY 2017 FY 2018
3 ACTUAL ACTUAL ACTUAL ACTUAL ACTUAL BUDGET ESTIMATE ESTIMATE
4 GENERAL FUND REVENUE:
5 I I
7
8 ADD 2.5% 1,361,400 1,412,490 ~, 1,464,807 ; 1,526,406 1,603,762 1,676,682 1,676,682 1,758,736
9 I
10 ADD REAL ESTATE NEW GROWTH 364,865 379,310 450,088 800,518 985,309 600,000 1,107,638 600,000
11
12 ADD PERSONAL PROP NEW GROWTH 317,329 300,896 549,052 767,316 327,736 200,000 497,845 250,000
13
14 ADD OVERRIDE 0 0 0 0 0 0 0 0
15
16 SUB-TOTAL LEVY LIMIT 56,499,590 58,592,286 61,056,233 64,150,473 67,067,280 69,543,962 70,349,445 72,958,181
17
18 ADD DEBT EXCLUSIONS(NET OF REIMBURSEMENTS) 2,141,667 2,111,287 2,019,591 1,643,171 1,706,408 1,575,033 , 1,559,011 1,651,108
19 '
20 LESS UNUSED LEVY CAPACITY (566,772). (548,306) (610,696) (1,164,023)1 (577,358) (535,955) (961,686) (535,955)
21
22 TOTAL PROPERTY TAXES-CURRENT YEAR 58,074,484 60,155,267 62,465,128 64,629,621 68,196,330 70,583,040 70,946,770 74,073,334
23
24 LESS ABATEMENTS (512,825) (878,605) (805,173) (761,986) (747,431) (1,000,000)' (1,000,000) (1,000,000)
- - -
25
26 ADJUST TO ACTUAL AMOUNT BILLED (60,575) (8,439) (46,041)' 6,808 8,513 4,265 9,585 0
27
28 SUB-TOTAL PROPERTY TAX REVENUE 57,501,084 59,268,223 61,613,914 63,874,443 67,457,412 69,587,305 69,956,355 73,073,334
-- -- - -
29
30 OVER/(UNDER) COLLECTIONS (480,463)1 (324,985) (224,398) (286,979) (189,588) 0 0 0
31
32 TOTAL PROPERTY TAX REVENUE 57,020,621 58,943,238 61,389,516 63,587,464 67,267,824 69,587,305 69,956,355 73,073,334
ATMDATA.xlsx property taxes 1/26/2017Source page 4
='\
ADDITIONAL PROPERTY TAXES FROM DEBT EXCLUSIONS -NET OF REIMBURSEMENTS
A S T U W Y Z AA AB
1 I
2 FY 2012 FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 ! FY 201 FY 2018
3 DESCRIPTION ACTUAL ACTUAL ACTUAL ACTUAL ACTUAL BUDGET ESTIMATE ESTIMATE
4
5 DRAPER PROPERTY (behind Police Station) 111,480 106,756 103,544 96,220 93,055 38,528 38,528 36,532
6
7 WILLIAMS ESTATE(Armando Center) 176,942 169,864 164,044 150,631 143,402 134,130 134,130 0
8
9 SCHOOL ADA 82,279 79,080 76,626 69,607 66,343 62.,610 62,610 59,364
10
1 1 SCHOOL REPAIRS 142,979 137,420 133,149 120,941 115,239 108,704 ' 108,704 103,326
12
13 SCHOOL TECHNOLOGY 0 0 0 0 0 0 0 0
14
15 LUCE SCHOOL 664,350 645,920 624,150 605,110 585,390 ~ 551,600 551,600 , 527,380
16
17 LIBRARY 446,888 437,513 443,710 381.,905 ~ 366,920 352,710 352,710 338,440
18
19 HIGH SCHOOL 1,558,500 1,527,250 1,527,842 807,112 758,093 707,783 707,783 659,098
ZO
21 HANSEN SCHOOL ADDITION 0 0 0 I 0 0 41,000 44,000 349,000
22 I
23 TOTAL DEBT SERVICE 3,183,417 3,103,802 3,073,065 ~ 2,231,526 2,128,440 1,997,065 2,000,065 2,073,140
24 i ~ ! 'i
25 LESS MSBA OFFSETS &OTHER ADJUSTMENTS: ', '
26
27 LUCE SCHOOL MSBA REIMBURSEMENT (458,345) (422,032) (422,032) (422,032) (422,032) (422,032] (422,032) (422,032)
28 HIGH SCHOOL MSBA REIMBURSEMENT (550,810)i, (539,765) (550,537) 0 0 0 0 0
29 ADDITIONAL INTEREST PAID IN APRIL 2014 (52,289)' 52,289
30 NET PREMIUM RECEIVED ON NOTES &BONDS (32,595) (30,718) (28,616) (218,612) 0~ 0 (19,022) 0
31
32 TOTAL MSBA OFFSETS &OTHER ADJUSTMENTS (1,041,750) (992,515) (1,053,474) (588,355) (422,032) (422,032 (441,054) (422,032)
33
34 NET DEBT SERVICE 2,141,667 j 2,111,287 2,019,591 j 1,643,171 1,706,408 1,575,033 1,559,011 1,651,108
ATMDATA.xlsx debt exclusions 1/26/2017Source page 5
STATE AID COMPARISON
A B O Q S U W X Y Z
1
2 FY 2012 FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 FY 2017 FY 2018
3 DESCRIPTION ACTUAL ACTUAL ACTUAL ACTUAL ACTUAL BUDGET ESTIMATE ESTIMATE
4
5 CHAPTER 70 3,838,238 4,580,646 4,751,687 4,936,587 5,126,669 5,191,049 5,320,092 5,903,276
6
7 SCHOOL TRANSPORTATION 0 0 0 0 0 0 0 0
8
9 CHARTER TUITION ASSESSMENT REIMBURSEMENT 5,102 54,945 36,456 6,667 3,969 14,868 49,046 25,768
10
11 SUB-TOTAL EDUCATION 3,843,340 4,635,591 4,788,143 ~ 4,943,254 5,130,638 5,205,917 5,369,138 , 5,929,044
12
13
17 UNRESTRICTED GENERAL GOVERNMENT AID 1,682,666 1,813,812 ' 1,856,687 1,908,176 1,976,870 2,061,875 2,061,875 2,142,288
18
19 HIGHWAY FUND 0i 0 0 0 0 0 0 0
20
21 POLICE CAREER INCENTIVE(QUINN) 0' 0 0 0 0 0 0 0
22
23 VETERANS' BENEFITS 100,759 106,829 129,968 147,636 143,180 143,237 152,714 159,972
24 i
25 STATE OWNED LAND(PAYMENTS IN LIEU OF TAXES) 149,899 149,947 152,912 37,903 37,903 38,013 37,870 37,870
26
27 EXEMPTIONS FOR ELDERLY, VETS ETC. 152,623 64,758 232,205 60,240 146,973 146,973 146,973 142,601
28
29 SUB-TOTAL GENERAL GOVERNMENT 2,085,947 ' 2,135,346 2,371,772 2,153,955 2,304,926 2,390,098 2,399,432 2,482,731
30
31 SUB-TOTAL STATE AID 5,929,287 6,770,937 7,159,915 7,097,209 7,435,564 7,596,015 7,768,570 8,411,775
32 'i
33
34 SCHOOL CONSTRUCTION (MSBA):
35 LUCE SCHOOL 458,345 422,032 422,032 422,032 422,032 422,032 422,032 422,032
36 HIGH SCHOOL 550,810 539,765 550,537 0 0 0 0 0
37 HANSEN SCHOOL ELEVATOR 18,328 18,328 18,328 18,328 18,328 18,328 18,328 18,328
38 KENNEDY SCHOOL ELEVATOR ~' 15,945 15,945 ' 15,945 15,945 15,945 15,945 15,945 15,945
39 TOTAL SCHOOL CONSTRUCTION AID 1,043,428 996,070 1,006,842 456,305 456,305 456,305 ' 456,305 ' 456,305
40
41
42 TOTAL STATE AID 6,972,715 7,767,007 8,166,757 7,553,514 7,891,869 ' 8,052,320 8,224,875 8,868,080
ATMDATA.xlsx state aid 1/26/2017Source page 6
LOCAL RECEIPTS
A B C D Q S U W Y Z AA AB
1
2 ORG FY 2012 FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 FY 2017 FY 2018
3 DESCRIPTION # ACTUAL ACTUAL ACTUAL ACTUAL ACTUAL BUDGET ESTIMATE ESTIMATE
4 ~ ~
5 EXCISE TAXES (Motor Vehicle) 10015 3,165,287 3,473,978 3,714,753 4,119,643 4,555,904 3,600,000 3,600,000 3,850,000
6
7 OTHER EXCISE (Hotel &Meals) 10016 38,309 460,905 568,317 581,621 601,227 600,000 600,000 550,000
8
9 PENALTIES &INTEREST 10017 291,572 323,695 344,012 310,740 254,164 300,000 300,000 300,000
10
1 1 PAYMENTS IN LIEU OF TAXES 10018 219,2051 224,311 ~ 214,543 222,149 225,405 231,040 231,040 236,816
12 j
13 FEES 10032 160,747 166,510 177,668 160,361 199,823 150,000 150,000 150,000
14
15 RENTALS 10036 19.8,375 201,454 218,135 247,420 193,689 200,000 200,000 200,000
16
17 OTHER DEPARTMENT REVENUE 10037 58,673 58,575 96,811 124,390 144,641 77,000 77,000 77,000
18 j
19 ALCOHOLIC BEVERAGES LICENSES 10041 75,075 74,040 72,915 79,970 77,035 70,000 70,000 70,000
20
21 OTHER LICENSES 10042 83,928' 91,849 94,133 86,466 84,019 80,000 80,000 80,000
22
23 PERMITS 10045 753,229 878,021 650,781 1,116,006 874,017 650,000 650,000 650,000
24
25 OTHER FEDERAL REVENUE 10054 71,103 0 251,643, 0 0 0 0 0
26
27 OTHER STATE REVENUE 10068 0 0 18,408 0 0 0 0 0
28 j
29 FINES &FORFEITURES 10077 99,500 109,411 141,311 113,467 119.,540 100,000 100,000 100,000
30
31 INTEREST INCOME 10082 96,495' 82,772 91,250 81,755, 96,625 80,000 80,000 80,000
32
33 OTHER MISCELLANEOUS REVENUE 10084 38,701 59,018 44,668 71,969 113,864' 25,000 25,000 25,000
- -
34
35 REIMBURSEMENTS 10085 i 351,814 390,105 282,925, 404,982 261,549 100,000 100,000 100,000
36
37 TOTAL LOCAL RECEIPTS 5,702,014 6,594,642 6,982,273 7,720,938 7,801,500 6,263,040 6,263,040 6,468,816
ATMDATA.xlsx local receipts 1/26/2017Source page 7
TRANSFERS FROM OTFIER FUNDS
A B O Q S U W X Y Z
~ - i
2 FY 2012 i FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 FY 2017 FY 2018
3 FUND # DESCRIPTION ACTUAL ACTUAL^ ACTUAL ACTUAL i ACTUAL BUDGET ~ ESTIMATE ESTIMATE
4
5 101 SCHOOL FOOD SERVICE 115,165 102,224 102,224 122,378 120,770 146,805 ~ 146,805 160,500
6 111 SOLAR FACILITY 0 303,519 413,585 498,069 556,205 323,067 323,067 331,144
7 115 BOND PREMIUMS &ISSUANCE COSTS 100,506 143,525 171,821 275,400 31,648 0 19,022 0
9 135 GREENLODGE STREET PARKING FEES 40,000 45,000 35,000 35,000 35,000 35,000 ~ 35,000 35,000
13 170 AMBULANCE SERVICE -OPERATING ~ 650,000 650,000 803,476 650,000 650,000 650,000 ' 650,000 650,000
14 170 AMBULANCE SERVICE -CAPITAL 91,000 0 45,000 0 326,000 0 0 0
15 170 AMBULANCE SERVICE -DEBT SERVICE 112,160 108,960 86,980 53,350 107,325 111,150 111,150 175,190
16 170 AMBULANCE SERVICE -REGIONAL DISPATCH 0 0 0 0 0 0 0 100,000
17 170 AMBULANCE SERVICE -TOTAL 853,160 758,960 935,456 703,350 1,083,325 761,150 761,150 925,190
18 171 ANIMAL CONTROL FEES 0 30,000 0 0 0 0 0 0
19 172 SALE OF LOTS/GRAVES 25,000 ~ 5,000 10,000 10,000 10,000 10,000 10,000 10,000
20 173 INSURANCE REIMBURSEMENT OVER $20,000 0 0 0 73,536 0 0 0 0
21 174 WETLANDS PROTECTION ~ 10,000 5,000 5,000 0 0 0 0 0
22 175 SALE OF REAL ESTATE 23,378 22,809 12,677 0 0 0 0 0
26 600 SEWER ENTERPRISE FUND 373,811 388,281 394,399 376,369 384,876 356,442 356,442 358,865
27 640 WATER ENTERPRISE FUND 716,685 744,799 756,170 620,022 978,960 510,539 510,539 514,825
28 700 RINK ENTERPRISE FUND 76,472 80,243 82,015 90,729 0 0 0 0
29 801 STABILIZATION FUND 0 0 75,000 80,000 0 0 0 0
32 812 CEMETERY PERPETUAL CARE(EXPENDABLE) 5,000 15,000 5,000 5,000 5,000 5,000 5,000 5,000
33 MISCELLANEOUS FUNDS 33,555 20,122 6,475 77,112 43,759 100,000 100,000 0
35 TOTALS 2,404,929 2,664,482 3,004,822 2,966,964 3,249,544 2,248,003 2,267,025 2,340,524
ATMDATA.xlsx trensfers 1/2612017Source page 8
~~
FIXED COSTS AND STATE AND COUNTY CHARGES
A B N O Q S U V W X
1
2 FY 2012 FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 FY 2017 FY 2018
3 DEPT DESCRIPTION ACTUAL ACTUAL ACTUAL ACTUAL ACTUAL BUDGET ESTIMATE REQUEST
4
5 132 RESERVE FUND 0 0 0 0 0 500,000 500,000 500,000
6 422 STREET LIGHTS 125,028 1 15,634 100,141 100,116 136,752 120,000 120,000 95,000
7 423 SNOW &ICE 226,849 644,641 839,895 1,263,215 681,690 564,500 564,500 600,500
8 433 TRASH COLLECTION 1,371,307 1,453,522 1,484,613 1,665,574 1,797,927 1,840,240 1,840,240 1,900,000
9
10 INSIDE LEVY 2,804,501 3,052,193 2,966,683 2,608,238 2,818,352 2,886,141 2,867,843 2,713,463
11 OUTSIDE LEVY 3,183,417 3,103,803 3,073,065 2,231,526 2,128,440 1,997,065 2,000,065 2,073,140
12 TOTAL DEBT SERVICE 5,987,919 6,155,995 6,039,748 4,839,764 4,946,792 4,883,206 4,867,907 4,786,603
13
14 840 BLUE HILLS REGIONAL 1,337,865 1,173,074 1,059,042 1,098,642 1,117,954 1,195,356 1,180,767 1,235,185
15 841 NORFOLK COUNTY AGGIE 0 6,000 8,589 7,472 9,340 10,000 10,000 10,000
16 911 RETIREMENT EXPENSES 2,942,040 3,085,292 3,202,606 3,595,847 3,994,324 4,397,322 4,397,289 4,799,947
17 913 U NEMPLOYMENT 100,000 100,000 150,000 150,000 100,000 100,000 100,000 100,000
18
19 914 HEALTH INSURANCE 10,146,298 10,018,636 10,473,152 1 1,251,554 10,924,342 1 1,279,278 1 1,362,286 12,082,117
20 915 LIFE INSURANCE 57,233 57,696 58,289 58,637 58,637 60,000 60,000 60,000
21 TOTAL HEALTH &LIFE INSURANCE 10,203,531 10,076,332 10,531,441 1 1,310,191 10,982,980 1 1,339,278 1 1,422,286 12,142,117
22
23 946 TOWN INSURANCE 760,491 846,675 910,457 869,196 1,011,226 1,084,985 1,084,985 1,205,918
24 993 OPEB TRUST FUND 0 50,000 400,000 551,000 750,000 770,000 770,000 800,000
25 990 OTHER TRANSFERS 0 150,078 0 0 350,000 0 0 0
26
27 TOTAL FIXED COSTS 23,055,030 23,857,242 24,726,532 25,451,017 25,878,984 26,804,887 26,857,974 28,175,270
28
29
30 820 STATE ASSESSMENTS 683,717 763,657 765,462 745,317 725,754 750,282 795,736 825,840
31 830 NORFOLK COUNTY TAX 191,104 195,881 194,406 199,266 201,584 206,623 206,623 209,009
32
33 TOTAL STATE &COUNTY 874,821 959,538 959,868 944,583 927,338 956,905 1,002,359 1,034,849
ATMDATA.xlsx fixed costs 1/26/2017