Canton, Massachusetts · Saved source text
Latest Bond Issuance Report (PDF)
Saved text from 200 source pages. Transcription and OCR may contain errors; verify figures and wording against the original. Retrieved 2026-10-15.
Source page 41
COMMUNITY PRESERVATION ACT
The Massachusetts Community Preservation Act (the “CPA”) permits cities and towns that accept its provisions
to levy a surcharge on its real property tax levy, dedicate revenue (other than state or federal funds), and to
receive state matching funds for (i) the acquisition, creation, preservation, rehabilitation and restoration of land
for recreational use, open space, and affordable housing and (ii) the acquisition, preservation, rehabilitation and
restoration of historic resources. The provisions of the CPA must be accepted by the voters of the city or town
at an election after such provisions have first been accepted by either a vote of the legislative body of the city or
town or an initiative petition signed by 5% of its registered voters.
A city or town may approve a surcharge of up to 3% (but not less than 1% under certain circumstances) and
may make an additional commitment of funds by dedicating revenue other than state or federal funds, provided
that the total funds collected do not exceed 3% of the real property tax levy, less any exemptions adopted (such
as an exemption for low-income individuals and families and for low and moderate-income senior citizens, an
exemption for $100,000 of the value of each taxable parcel of residential real property or $100,000 of the value
of each taxable parcel of class three, commercial property, and class four, industrial property as defined in
Chapter 59, Section 2A of the General Laws, and an exemption for commercial and industrial properties in
cities and towns with classified tax rates). In the event that the municipality shall no longer dedicate all or part
of the additional funds to community preservation, the surcharge on the real property tax levy of not less than
1% shall remain in effect, provided that any such change must be approved pursuant to the same process as
acceptance of the CPA. The surcharge is not counted in the total taxes assessed for the purpose of determining
the permitted levy amount under Proposition 2½ (see “Tax Limitations” under “TAX LEVIES” above). A city
or town may revoke its acceptance of the provisions of the CPA at any time after 5 years from the date of such
acceptance and may change the amount of the surcharge or the exemptions to the surcharge at any time,
including reducing the surcharge to 1% and committing additional municipal funds as outlined above, provided
that any such revocation or change must be approved pursuant to the same process as acceptance of the CPA.
Any city or town that accepts the provisions of the CPA will receive annual state matching grants to supplement
amounts raised by its surcharge and dedication of revenue. The state matching funds are raised from certain
recording and filing fees of the registers of deeds. Those amounts are deposited into a state trust fund and are
distributed to cities and towns that have accepted the provisions of the CPA, which distributions are not subject
to annual appropriation by the state legislature. The amount distributed to each city and town is based on a
statutory formula and the total state distribution made to any city or town may not exceed 100% of the amount
raised locally by the surcharge on the real property tax levy.
The amounts raised by the surcharge on taxes, the dedication of revenue and received in state matching funds
are required to be deposited in a dedicated community preservation fund. Each city or town that accepts the
provisions of the CPA is required to establish a community preservation committee to study the community
preservation needs of the community and to make recommendations to the legislative body of the city or town
regarding the community preservation projects that should be funded from the community preservation fund.
Upon the recommendations of the committee, the legislative body of the city or town may appropriate amounts
from the fund for permitted community preservation purposes or may reserve amounts for spending in future
fiscal years, provided that at least 10% of the total annual revenues to the fund must be spent or set aside for
open space purposes, 10% for historic resource purposes and 10% for affordable housing purposes.
The CPA authorizes cities and towns that accept its provisions to issue bonds and notes in anticipation of the
receipt of surcharge and dedicated revenues to finance community preservation projects approved under the
provisions of the CPA. Bonds and notes issued under the CPA are general obligations of the city or town and
are payable from amounts on deposit in the community preservation fund. In the event that a city or town
revokes its acceptance of the provisions of the CPA, the surcharge shall remain in effect until all contractual
33Source page 42
obligations incurred by the city or town prior to such revocation, including the payment of bonds or notes issued
under the CPA, have been fully discharged. In November, 2012, the Town voted to accept the provisions of the
Community Preservation Act and has begun collecting these funds effective July 1, 2013. The balance in the
account as of June 30, 2014 was $476,621.
INVESTMENTS
Investments of funds of cities and towns, except for trust funds, are generally restricted by Massachusetts
General Laws, Chapter 44, section 55. That statute permits investments of available revenue funds and bond
and note proceeds in term deposits and certificates of deposits of banks and trust companies, in obligations
issued or unconditionally guaranteed by the federal government or an agency thereof with a maturity of not
more than one year, in repurchase agreements, with a maturity of not more than 90 days secured by federal or
federal agency securities, in participation units in the Massachusetts Municipal Depository Trust (“MMDT”), or
in shares of SEC-registered money market funds with the highest possible rating from at least one nationally
recognized rating organization.
MMDT is an investment pool created by the Commonwealth. The State Treasurer is the sole trustee and the
funds are managed under contract by an investment firm under the supervision of the State Treasurer’s Office.
According to the State Treasurer the Trust’s investment policy is designed to maintain an average weighted
maturity of 90 days or less and is limited to high-quality, readily marketable fixed income instruments,
including U.S. Government obligations and highly-rated corporate securities with maturities of one year or less.
Trust funds, unless otherwise provided by the donor, may be invested in accordance with section 54 of Chapter
44, which permits a broader range of investments than section 55, including any bonds or notes that are legal
instruments for savings banks in the Commonwealth. The restrictions imposed by sections 54 and 55 do not
apply to city and town retirement systems.
UNDESIGNATED GENERAL FUND BALANCE AND FREE CASH
Under Massachusetts law an amount known as "free cash" is certified as of the beginning of each fiscal year by
the State Bureau of Accounts and this, together with certain subsequent tax receipts, is used as the basis for
subsequent appropriations from available funds, which are not required to be included in the annual tax levy.
Subject to certain adjustments, free cash is surplus revenue less uncollected and overdue property taxes from
prior years. The Town Accountant may certify as available for appropriation an adjusted free cash figure by
adding back those uncollected and overdue property taxes which are subsequently collected between July 1 and
the following March 31 of any year.
The following shows the unassigned and undesignated general fund balance and free cash for the most recent
fiscal years:
Unassigned and
Undesignated
July 1, Fund Balance (1) Free Cash
2014 $9,815,657 $3,271,361
2013 8,276,920 2,924,558
2012 7,118,096 3,234,349
2011 5,825,529 2,180,097
2010 1,959,548 990,878
____________________
(1) Effective fiscal 2011, due to GASB 54, there are changes in how Fund Balances are categorized and the Stabilization Fund is now
classified as “Unassigned” in the General Fund Balance.
34Source page 43
Free cash amounts estimated for the enterprise funds of the Town as of July 1, 2014 are as follows:
Water $1,955,013
Sewer 800,665
Skating Rink 74,919
STABILIZATION FUND
The Town has maintained a Stabilization Fund for several years. Under Massachusetts statutes, funds may be
appropriated from the Fund for any municipal purpose by a two thirds vote of the Town Meeting. The
following is the balance in the account at the end of the most recent fiscal years:
Fiscal Year Balance
2014 $5,074,180 (1)
2013 4,610,294
2012 4,210,832
2011 3,463,814
2010 3,234,212
____________________
(1) Included in the Stabilization Fund Balance is $91,146 set aside for school special education. The Stabilization Fund is included
in the “Unassigned” General Fund Balance.
OTHER TAXES
Three additional sources of revenue for local governments are the room occupancy excise tax, local meals
excise tax and the aviation fuel tax. All of these taxes take effect only where accepted by individual
municipalities. Under the room occupancy excise tax, local governments may tax the provision of hotel, motel,
lodging house and bed and breakfast rooms at a rate not to exceed six percent of the cost of renting such rooms.
The tax is paid by the operator of the hotel, motel, lodging house or bed and breakfast rooms to the State
Commissioner of Revenue, who in turn pays the tax back to the municipality in which the rooms are located.
The Town has voted to impose the room occupancy excise tax. The Town’s first hotel opened in December,
2011 so no room occupancy excise tax was budgeted for fiscal 2012. The amount of room occupancy excise
tax collected in fiscal 2013 was $224,236, fiscal 2014 was $246,061 and the amount budgeted for fiscal 2015 is
$250,000.
The local meals excise tax, effective for sales of restaurant meals on or after October 1, 2009, is a three-fourths
percent tax on the gross receipts of a vendor from the sale of restaurant meals. The tax is paid by the vendor to
the State Commissioner of Revenue, who in turn pays the tax to the municipality in which the meal was sold.
The Town voted to accept the local meals excise tax effective July 1, 2012. The amount of meals excise tax
collected in fiscal 2013 was $236,669, in fiscal 2014 was $322,256 and the amount budgeted for fiscal 2015 is
$300,000.
The aviation fuel tax is a five percent tax (with a minimum of five cents per gallon) on the sale or use of jet fuel
to or by jet aircraft. The tax is paid by the seller/user of the fuel to the Commissioner of Revenue, who in turn
rebates the tax to the municipality in which the fuel being taxed was transferred into an aircraft. The Town did
not vote to accept the aviation fuel tax.
35Source page 44
COLLECTIVE BARGAINING
City and town employees (other than managerial or confidential employees) are entitled to join unions and to
bargain collectively on questions of wages, hours and other terms and conditions of employment. The Town
has approximately 708 full and part-time employees, of which approximately 86 percent belong to unions or
other collective bargaining groups as follows:
Number of Contract
Union Department People Expires
AFSCME, AFL-CIO State DPW, Library, 73 6/30/15
Council 93, Local 362 Planning Board, Secretaries
and Custodians
Administrative Employees Assoc. Various 5 6/30/15
IAFF, AFL-CIO, Local 1580 Fire 50 6/30/15
Canton Police Association, IBPO Police 39 6/30/15
Canton Police Superior Officers Association Police 2 6/30/15
Canton Teachers Association School 292 8/31/15
Canton School Maintenance &
Custodians Association School 25 6/30/15
Canton School Secretaries Association School 18 6/30/15
Cafeteria Personnel School 23 6/30/15
Educational Support Personnel Association School 82 8/31/15
609
PHYSICAL AND ECONOMIC CHARACTERISTICS
The Town occupies a land area of approximately 19.38 square miles and is a residential community with
significant commercial and industrial activity. Located in Norfolk County, approximately 18 miles south of
downtown Boston, it is bordered on the east by the Town of Randolph, on the north by the Towns of Milton and
Dedham, on the west by the Towns of Westwood and Norwood and on the south by the Towns of Sharon and
Stoughton.
Economic Development
The Town takes a pro-active approach to encouraging well-planned economic development. The Town
appreciates the significance of commercial and industrial growth and development (and redevelopment)
especially in terms of long-term fiscal stability. The Town continues its focus on future growth, which is
sustainable and complimentary to economic development including employment opportunities for its residents.
Municipal officials work closely with and receive valuable support from the State Office of Business
Development as well as regional planning support from the Metropolitan Area Planning Council (MAPC). In
addition, business advocacy organizations, such as Canton Association of Business and Industry (CABI), play a
vital role.
The Town strives to take full advantage of the latest initiatives and incentives made available to it notably under
Chapter 43D for expedited permit approvals and Tax Incremental Financing (TIF). The Town’s continued
accomplishments in promoting 43D sites in Town are discussed in greater detail below.
The Town’s Economic Development Committee (EDC) is also a special resource. The Town regularly takes
advantage of local talent from the community who specialize in finance, banking, development and real estate.
36Source page 45
The Town continues to update and publish an economic development recruitment guide which includes
pertinent information sought by private company CEOs when making siting and expansion decisions. The
Board of Selectmen recently published a new business and community guide and has made that information
available online as well.
The Town has surpassed its required 10% affordable housing goal as required by State regulation. The Town
has incorporated a continued affordable housing unit goal, within the Housing Action Plan, to ensure the Town
keeps pace with any new market rate unit starts. The recent construction by Avalon Development of additional
affordable housing on Randolph Street further increased the Town’s 40B compliance.
The Town continues to invest in infrastructure improvements such as roads, sewers, and water supply facilities,
as well as various municipal and school facility upgrades. These include: Town Hall, Library, Public Safety
Facilities, Public Works and School building improvement projects. Well underway is a renovation of a
recently purchased facility to become a new Senior Center located at 500 Pleasant Street to address the growing
aging population in need of expanded and updated senior services.
In addition, the Town has completed the construction of three important water/sewer projects - the Greenlodge
Street Interceptor Rehabilitation Project and two (2) new water filtration plants. These water filtration plants
will provide state-of-the-art water filtration capabilities and allow for the use of local source water to reduce
operating costs, improve water availability (including redundancy) and filtrate water for customers with the
most technologically advanced system available today. The sewer project has reduced MWRA treatment costs
and limited sewer overflows in environmentally sensitive areas.
All these projects are necessary to support new economic development and community growth as well as
minimize operational costs resulting from deferred maintenance and inefficient building “infrastructure”
including HVAC systems. These projects also improve safety conditions for the users of municipal and school
facilities.
The Town’s commitment to sound economic development is further demonstrated by its partnerships with
MAPC and Neponset Valley Chamber of Commerce to coordination with respect to resource allocation and key
planning issues facing the Town. The Town reactivated the Economic Development Committee and created,
with Town Meeting, the Permit Advisory Committee both of which provide technical assistance to businesses
new to Canton.
The Town has instituted a Google-based web search device, which identifies Canton as a business friendly
community. The web product highlights, via a series of videos, the Town of Canton as a solid and desirable
business and family destination. The Town’s continued status as a 43D Expedited Permitting Community has
benefitted the Town greatly and has led to the actual designation of many new priority development sites. This
43D designation, which was granted to the Town in 2008, came with a $150,000 grant to hire a permit specialist
who has completed the administrative and organizational work necessary to implement the issuance of permits
via an integrated and automated town wide permit system which better serves the public and the Town in terms
of real time tracking of permits.
The Town has available a permit guidebook, which lays out the Town’s permitting requirements in an easy to
use format. The goal is to identify key requirements and improve communications, saving applicants time and
money. The Permit Advisory Committee has been a successful endeavor by bringing together key permit
granting agency representatives to counsel and guide any proponent of a proposed commercial endeavor.
Participation and results continue to be overwhelmingly positive.
37Source page 46
The Town has also published a Tax Incremental Financing Evaluation Policy document designed to provide a
rational and consistent intake evaluation of TIF requests. The new approach allows the Town to quantify and
better evaluate any request to reduce taxes for a business seeking to locate or expand. Also, the Town launched
a Payment in Lieu of Taxes Program (PILOT) that encourages non-taxable property owners to voluntarily
participate in the support of public services.
The Town has completed construction of the downtown revitalization project commonly referred to as the
Streetscape Improvement Project. This work was funded as a result of a $2.6 million dollar Commonwealth
grant received due to the Town’s “Smart Growth” efforts and rezoning of the Downtown. The Town has also
completed safety and efficiency improvement work on two key intersections ($2.2 million dollar
Commonwealth grant) located in the heart of the Route 138 business district. These intersections are located at
the Randolph and Washington Street Intersections with Route 138. These projects have improved both the
safety and efficiency of this commercial roadway. The Board of Selectmen has also empanelled a multi-
disciplined group of volunteers who have completed a visioning process which has led to a variety of re-zoning
recommendations with a goal of improving the business climate and enhancing zoning flexibility to spur
additional economic development potential along this vital commercial roadway.
In cooperation with NSTAR, a new 345 kV transmission line was installed under Route 138 to ensure an
updated, reliable source of power is available to the Town and the region. The Route 138 Corridor Roadway
Improvement project has completed all segments from Route 128 to Randolph Street. The Town has completed
the under-grounding of all utilities in the Downtown, including fire alarm.
The Town was also a participant in a regional planning study to evaluate the effects of new growth in both
residential and commercial construction. The study’s focus was to identify growth related problems such as
transportation, infrastructure, environmental, and economic development issues. In addition, a build-out
analysis was completed to assist and improve public policy decision-making with regard to growth and
development related to educational planning. These studies have been coordinated with other immediate area
communities.
The Town is in the process of evaluating the opportunities and/or impacts of the South Coast Rail Project which
is advancing through preliminary and environmental design. This Commonwealth initiative would provide rail
service from Boston to Fall River/New Bedford via a route now determined by the Commonwealth, known as
the Stoughton Alternative, which will impact Canton.
In 2010, the Town received a MORE grant in the amount of $850,000 and completed infrastructure
improvements along Dan Road, an important commercial area of the Town. After much effort, the Town
secured the commitment of Organogenesis, a bio tech firm, now located on Dan Road, which was
contemplating relocation. Their commitment to stay in Canton and expand was an important part of the Town’s
success in obtaining this new funding. They are currently expanding their facilities into an additional Dan Road
location.
Canton’s Master Plan Initiative required a careful review and analysis of existing conditions balanced with a
vision for the future. The work program is designed to enlist public interest and participation in shaping the
Town’s future. Workshops, neighborhood meetings, leadership interviews and community surveys were
conducted. The Town has conducted an extensive public outreach campaign to better assure good attendance at
workshops and neighborhood focus groups. Existing planning, engineering reports and documents have been
reviewed and a written report, which summarizes their major issues and relevant recommendations, was
prepared and remains available in the Town. The overall objective of the Master Plan initiative was to develop a
sustainable residential and business development strategy for the Town.
38Source page 47
Another objective of the Master Plan Initiative was to address the often-conflicting goals of economic
development and resource protection. Sustainable development providing for economic growth that is
compatible with resource protection remains an important Town focus. The Town’s approach includes
promoting economic development that is supported by adequate infrastructure. Thus, the dual objectives of the
Master Plan Initiative remain to provide for economic growth which is (1) compatible with resource protection
and (2) supported by adequate infrastructure. To ensure this, the Town embarked on a four-town regional
planning initiative, which is still ongoing. The Towns of Canton, Dedham, Norwood and Westwood share a
common watershed and an interlinked highway system. The Towns continue to work together and meet
regularly to discuss economic development on a regional basis. This regional planning initiative encourages and
reminds area towns that, despite borders, what happens in another neighboring community may have an impact,
both positive and potentially negative, on one another. The Towns plan and communicate to shape growth,
protect water resources, transportation infrastructure and to ensure support and advocacy for growth in the
Region to the community’s benefit. This group continues to pursue State and Federal funding for the
replacement of the I95/I93 Interchange, a source of safety concerns and traffic.
The Town’s location has contributed to the continuation of new residential and commercial construction.
Canton is 18 miles from downtown Boston and enjoys excellent access to commuter rail service from the
Canton MBTA station. In addition, the Town’s location along State Highway Route 128, Massachusetts
“Technology Highway”, provides excellent highway access to many of the Commonwealth’s high technology
firms. Assessed values of single family homes in the Town are currently averaging $470,000.
The Town’s pro-growth attitude ensures Canton will remain an attractive location for commercial and industrial
development in the future. The success of the Town’s business development efforts is repeatedly confirmed by
such commitments as Reebok International locating its worldwide corporate headquarters in the Town.
Residential developments such as Windsor Woods, Indian Woods, Pequit View and Blue Hill Commons are
complemented by commercial developments such as Dunkin Brands with their worldwide corporate
headquarters along with other top Canton companies such as Meditech, Network Engines, One Beacon, Boston
Mutual, Computershare, LoJack and Pepsi.
The Town’s planning focus includes improvements to the highway system that serves the Town and the region.
The Route 128 Add-a-Lane Project was federally funded and completed in 2013. Also, recently approved by the
Massachusetts Highway Division was the advancement of the planning of the I95/I93 interchange project along
with corridor studies of both Routes 1 and Interstate 95. The ultimate improvements to these roadways will
facilitate and provide transportation capacity for further economic development in the region with improved
safety and efficiency for commuters, suppliers, employees, visitors and customers.
The Town recently entered into a long-term lease of its capped landfill to be used by a private entity to install
solar panels on fifteen acres of the site at no cost to Canton. The lease provides the Town with guaranteed
payments of $20,000 per acre, per year, while allowing the Town the ability to purchase all the electricity
generated by this 5.6 megawatt facility at a substantial savings. The Pine Street Solar Facility went online
August 15, 2012 (one of the largest in the Northeast) and has provided to date over $135,000 in net metering
credits savings to the Town, as well as annual lease payments totaling $300,000 in new recurring operating
revenue increasing annually by 2.5%.
39Source page 48
Some of the developments recently completed, currently underway or expected to begin in the near future are:
Recently Completed Developments
Name Description Completion Date Anticipated Costs
Avalon Development Residential Development August 2014 $18,000,000
Future/In-Progress Developments
Name Description Anticipated Completion Anticipated Costs
Brightview Canton LLC Assisted Living Facility Spring 2016 $26,650,000
Cornerstone at Canton Assisted Living Facility Summer 2015 8,350,000
Pequit View Residential Development 24 Units Remaining (1) 2,076,000
Canton Pointe Residential Development Summer 2015 4,200,000
Premier Fence Commercial Development Fall 2015 1,650,000
TOTAL $42,926,000
__________________
(1) Estimated completion date of remaining units currently unknown.
Principal Employers
The following are the principal employers, other than the Town itself, located in the Town:
Nature of Approximate
Company Business Current Employees (1)
Reebok International Footwear 1,107
Computershare Operations Center/Transfer Agents 798
Meditech Hospital Software 650
Dunkin Brands, Inc. Food & Beverages 640
CB&I (Shaw Group) Engineering 425
Organogenesis Regenerative Medicine 354
Pollak Engineering Products Automotive Engineering 280
Boston Mutual Insurance Insurance Sales & Service 271
Lojack Recovery Systems 250
One Beacon Insurance Insurance Sales & Service 225
__________________
Source: The individual corporations as of January 2015.
40Source page 49
Employment by Industry
Calendar Year Average
2013 2012 2011 2010 2009
Construction & Natural Resources 2,395 2,067 2,053 2,103 2,426
Manufacturing 1,672 1,665 1,773 1,942 2,066
Trade, Transportation & Utilities 4,293 4,235 4,331 4,387 4,473
Financial Activities 1,937 2,074 1,923 1,940 2,101
Professional & Business Services 5,985 5,141 4,261 4,190 4,211
Education & Health Services 2,669 2,467 2,493 2,563 2,513
Leisure & Hospitality 1,212 1,160 1,211 1,189 1,126
Information & Other Services 1,715 1,849 1,828 1,759 1,784
Public Administration 498 392 382 395 397
Total Employment 22,378 21,052 20,274 20,468 21,097
Number of Establishments 1,036 1,034 1,062 1,072 1,023
Total Annual Wage (000) $1,550,248 $1,440,690 $1,311,968 $1,301,386 $1,348,468
Average Weekly Wage $1,332 $1,316 $1,244 $1,221 $1,228
___________________
Source: Massachusetts Executive Office of Labor & Workforce Development.
Building Permits
Calendar
Year Number Estimated Value
2014 1,132 $48,949,775
2013 882 48,014,121
2012 691 36,281,045
2011 655 39,973,850
2010 788 24,511,654
OTHER DATA
Unemployment (1)
Year Canton Massachusetts United States
2014 (November) 4.7% 5.2% 5.5%
2013 5.9 7.1 7.4
2012 5.8 6.8 8.1
2011 6.2 7.3 8.9
2010 7.0 8.3 9.6
______________________
(1) Massachusetts Executive Office of Labor & Workforce Development. Full year annual averages except for 2014 which is for the
month indicated.
41Source page 50
Population (1)
Canton Norfolk County Massachusetts
Year Number % Change Number % Change Number % Change
2013 (Estimate) 22,221 3.1% 687,802 2.5% 6692824 2.2%
2010 21,561 3.8 670,850 3.2 6,547,629 3.1
2000 20,775 12.1 650,308 5.6 6,349,097 5.5
1990 18,530 1.9 616,087 1.6 6,016,425 4.9
1980 18,182 606,587 5,737,037
____________________
(1) Source: U.S. Department of Commerce for actuals and estimates.
Population Density (1)
Canton Norfolk County Massachusetts
Year Number Density (2) Number Density Number Density
2013 (Estimate) 22,221 1,173.4 687,802 1,721.2 6,692,824 853.9
2010 21,561 1,138.5 670,850 1,678.8 6,547,629 835.4
2000 20,775 1,097.0 650,308 1,627.4 6,349,097 810.0
1990 18,530 978.5 616,087 1,541.7 6,016,425 767.6
1980 18,182 960.1 606,587 1,518.0 5,737,037 732.0
____________________
(1) Source: U.S. Department of Commerce for actuals and estimates.
(2) Based on 18.9 square miles.
Population Composition 2013 5-year estimates (1)
Canton Norfolk County Massachusetts
Age Number Percent Number Percent Number Percent
Under 5 Years 1,169 5.4% 37,497 5.5% 366,296 5.5%
5 Years to 19 Years 4,468 20.5 130,901 19.3 1,250,186 18.9
20 Years to 64 Years 12,424 57.0 408,438 60.3 4,054,796 61.4
65 Years & Over 3,720 17.1 100,460 14.8 933,780 14.1
Total 21,781 100.0% 677,296 100.0% 6,605,058 100.0%
Median Age 42.8 40.7 39.2
Median Age (2000) 39.8 38.1 36.5
__________________
(1) Source: U.S. Department of Commerce.
42Source page 51
Income Levels (1)
Canton Norfolk County Massachusetts
% Change from % Change from % Change from
Year Amount Previous Census Amount Previous Census Amount Previous Census
Per Capita-Personal
2013 (5-yr est.) $46,086 37.5% $44,692 37.6% $35,763 37.8%
1999 33,510 52.1 32,484 54.0 25,952 50.7
1989 22,035 21,091 17,224
Median Family
Income (2013) $115,595 $108,943 $84,900
Median Household
Income (2013) $89,900 $84,916 $66,866
% Below Poverty
Level (2013) 5.9% 6.6% 11.4%
_________________
(1) Source: U.S. Department of Commerce.
Family Income Distribution 2013 5-year estimates (1)
Canton Norfolk County Massachusetts
Income for Families Families Percent Families Percent Families Percent
Less than $10,000 167 2.9% 3,896 2.3% 58,546 3.6%
$10,000 - $24,999 155 2.7 7,497 4.4 133,530 8.3
$25,000 - $49,999 625 10.9 19,926 11.8 262,275 16.3
$50,000 - $74,999 633 11.1 22,559 13.3 254,762 15.9
$75,000 - $99,999 839 14.7 22,706 13.4 230,134 14.3
$100,000 - $149,999 1,359 23.7 39,196 23.1 329,489 20.5
$150,000 or more 1,946 34.0 53,595 31.6 338,346 21.1
Total 5,724 100.0% 169,375 100.0% 1,607,082 100.0%
_________________
(1) Source: U.S. Department of Commerce.
Household Income Distribution 2013 5-year estimates (1)
Canton Norfolk County Massachusetts
Income for Households Households Percent Households Percent Households Percent
Less than $10,000 282 3.3% 11,685 4.5% 156,920 6.2%
$10,000 - $24,999 756 8.9 25,520 9.9 351,310 13.9
$25,000 - $49,999 1,251 14.8 40,114 15.6 471,424 18.6
$50,000 - $74,999 1,263 14.9 38,198 14.8 407,803 16.1
$75,000 - $99,999 1,193 14.1 31,904 12.4 325,171 12.9
$100,000 - $149,999 1,601 18.9 49,501 19.2 420,563 16.6
$150,000 or more 2,129 25.1 60,529 23.5 396,956 15.7
Total 8,475 100.0% 257,451 100.0% 2,530,147 100.0%
_________________
(1) Source: U.S. Department of Commerce.
43Source page 52
Value Distribution Of Specified Owner-Occupied Housing Units 2013 5-year estimates (1)
Canton Norfolk County Massachusetts
Units Number Percent Number Percent Number Percent
Less than $100,000 155 2.4% 4,283 2.4% 63,391 4.0%
$100,000 - $199,999 393 6.1 8,821 4.9 216,024 13.6
$200,000 - $299,999 721 11.1 31,888 17.9 400,460 25.3
$300,000 - $499,999 3,108 48.0 77,635 43.5 581,528 36.7
$500,000 - $999,999 1,872 28.9 43,660 24.5 269,517 17.0
$1,000,000 or more 221 3.4 12,058 6.8 54,339 3.4
Total 6,470 100.0% 178,345 100.0% 1,585,259 100.0%
Median Value $425,800 $391,100 $330,100
_________________
(1) Source: U.S. Department of Commerce.
Age Distribution Housing Units 2013 5-year estimates (1)
Canton Norfolk County Massachusetts
Year Built Number Percent Number Percent Number Percent
2000 or later 891 10.0% 21,289 7.9% 214,896 7.7%
1980 to 1999 2,205 24.8 49,359 18.2 508,321 18.1
1940 to 1979 4,360 49.1 123,290 45.5 1,112,708 39.6
1939 or Earlier 1,430 16.1 76,970 28.4 972,624 34.6
Total 8,886 100.0% 270,908 100.0% 2,808,549 100.0%
_________________
(1) Source: U.S. Department of Commerce.
Housing Unit Inventory 2013 5-year estimates (1)
Canton Norfolk County Massachusetts
Units in Structure Number Percent Number Percent Number Percent
1, Detached 5,584 62.8% 156,665 57.8% 1,468,336 52.3%
1, Attached 540 6.1 12,429 4.6 143,933 5.1
2 to 4 715 8.0 37,403 13.8 598,191 21.3
5 to 9 639 7.2 14,564 5.4 167,093 5.9
10 to 19 776 8.7 12,333 4.6 118,438 4.2
20 or More 632 7.1 36,432 13.4 288,403 10.3
Mobil Home, Trailer, or Other 0 0.0 1,082 0.4 24,155 0.9
Total 8,886 100.0% 270,908 100.0% 2,808,549 100.0%
_________________
(1) Source: U.S. Department of Commerce.
44Source page 53
Educational Attainment 2013 5-year estimates (1)
Canton Norfolk County Massachusetts
Years of School Completed Number Percent Number Percent Number Percent
Less than 9th Grade 147 1.0% 12,975 2.8% 218,530 4.8%
9th to 12th Grade, No Diploma 406 2.6 16,540 3.5 260,180 5.8
High School Graduate 3,039 19.7 101,754 21.7 1,163,738 25.8
Some College, No Degree 2,916 18.9 70,901 15.1 743,847 16.5
Associate’s Degree 1,333 8.6 36,439 7.8 348,097 7.7
Bachelor’s Degree 4,632 30.0 128,024 27.3 1,006,270 22.3
Graduate or Professional Degree _2,992 19.3 103,144 22.0 770,052 17.1
Total 15,465 100.0% 469,777 100.0% 4,510,714 100.0%
High School Graduate or Higher 14,912 96.4 440,262 93.7% 4,032,004 89.4%
Bachelor’s Degree or Higher 7,624 49.3 231,168 49.2 1,776,322 39.4
_________________
(1) Source: U.S. Department of Commerce.
Public School Enrollments (1)
Actual Projected
2010-11 2011-12 2012-13 2013-14 2014-15 2015-2016
Pre K – 4 1,332 1,337 1,328 1,346 1,328 1,318
Grades 5 - 8 1,032 1,031 1,036 1,051 1,086 1,070
Grades 9 - 12 855 883 898 858 914 956
Ungraded 48 47 50 66 57 57
Total 3,267 3,298 3,312 3,321 3,385 3,401
___________________
(1) Source: Massachusetts Dept. of Education - As of October 1, each school year.
School Facilities
School Capacity Oct. 2014 Enrollment
Canton High School 1,000 914
Galvin Middle School 800 801
Hansen Elementary 484 479
Kennedy Elementary 528 498
Luce Elementary 584 553
Rodman Pre-School 80 83
3,476 3,328
45Source page 54
LITIGATION
At present there are a number of suits pending in which the Town is a defendant. In the opinion of the Town,
none of the pending litigation is considered likely to result, either individually or in the aggregate, in final
judgments which would materially affect the Town’s financial position.
TOWN OF CANTON
Massachusetts
By: /s/ James R. Murgia
Finance Director/Treasurer
Dated: February 24, 2015
46Source page 55
APPENDIX A
The following Balance Sheets for fiscal years ending June 30, 2010 through 2014, and the Comparative
Statements of Revenues, Expenditures and Changes in Fund Balances for fiscal years ending June 30, 2010
through 2014, have been taken from the audited financial statements of the Town. Powers & Sullivan, Certified
Public Accountants audited the accounts for the Town for 2010 through 2012.
The Town engaged Roselli, Clark & Associates, Certified Public Accountants, to audit the accounts for the
Town for the years ending June 30, 2013 and 2014. The June 30, 2014 audit is reproduced in Appendix B.
Certificate of Achievement for Excellence in Financial Reporting
The Certificate of Achievement for Excellence in Financial Reporting has been awarded to the Town by the
Government Finance Officers Association of the United States and Canada (GFOA) for its Comprehensive
Annual Financial Report (CAFR) for June 30, 2006 through June 30, 2014. The Certificate of Achievement is
the highest form of recognition in the area of governmental accounting and financial reporting, and its
attainment represents a significant accomplishment by a government and its management.
A-1Source page 56
TOWN OF CANTON
MASSACHUSETTS
GENERAL FUND
Balance Sheet
June 30,
2014 (1) 2013 (1) 2012 (2)
Assets
Cash and Cash Equivalents $13,388,921 $18,785,224 $17,788,726
Investments 2,971,619 0 124,239
Receivables, net of uncollectibles:
Real Estate & Personal Property Taxes 451,911 576,418 621,348
Tax Liens & Foreclosures 1,341,202 1,531,791 1,330,045
Motor Vehicle Excise Taxes 212,688 547,033 106,840
Intergovernmental 2,860,353 3,210,035 3,605,923
Due from Other Funds 39,618 472,315 436,899
Other Assets 651,390 228,660 7,149
Total Assets $21,917,702 $25,351,476 $24,021,169
Liabilities and Fund Balances
Liabilities
Warrants Payable $ 1,152,448 $ 1,131,795 $ 763,695
Accrued Payroll & Withholdings 3,562,869 3,148,230 2,821,074
Tax Refunds Payable 1,475,000 1,152,000 1,220,000
Other Liabilities 34,916 29,963 358,064
Deferred Revenues 4,624,671 5,620,685 5,472,257
Total Liabilities $10,849,904 $11,082,673 $10,635,090
Fund Balances (3)
Restricted $ 0 $ 5,160,240 $ 5,483,092
Committed 358,148 470,608 0
Assigned 893,993 361,035 784,891
Unassigned 9,815,657 8,276,920 7,118,096
Total Fund Balances $11,067,798 $14,268,803 $13,386,079
Total Liabilities
and Fund Balances $21,917,702 $25,351,476 $24,021,169
_____________________
(1) Excerpts from audited financial statements prepared by Roselli, Clark & Associates, Certified Public Accountants..
(2) Excerpts from audited financial statements prepared by Powers and Sullivan, Certified Public Accountants.
(3) Due to GASB 54, there are changes in how Fund Balances are categorized and the Stabilization Fund is now classified as part of
the General Fund.
A-2Source page 57
TOWN OF CANTON
MASSACHUSETTS
GENERAL FUND
Balance Sheet (1)
June 30,
2011 2010
Assets
Cash and Short-Term Investments $16,940,144 $14,563,128
Receivables-net of
Uncollectible Amounts:
Property Taxes 739,410 1,103,633
Tax Liens 846,362 788,169
Excise 170,863 173,803
Tax Foreclosures 257,922 190,764
Departmental & Other 0 74,027
Other Assets 8,134 10,575
Due from Other Funds 739,975 0
Due from Other
Governments (2) 4,001,029 4,396,135
Total Assets $23,703,839 $21,300,234
Liabilities and Fund Equity
Liabilities
Warrants Payable $ 1,034,789 $ 1,037,871
Payroll Payable 2,722,580 2,602,887
Other Liabilities 448,654 367,778
Deferred Revenue (2) 5,823,790 6,549,227
Tax Refunds Payable 446,000 584,000
Total Liabilities $10,475,813 $11,141,763
Fund Equity (3)
Reserve for Encumbrances $ 0 $ 463,609
Restricted (4) 6,033,902 0
Reserve for MSBA Grant 0 6,595,314
Unreserved Designated 0 1,140,000
Assigned 1,368,595 0
Unassigned 5,825,529
Undesignated Fund Balance 0 1,959,548
Total Fund Equity $13,228,026 $10,158,471
Total Liabilities
and Fund Equity $23,703,839 $21,300,234
_____________________
(1) Excerpts from audited financial statements prepared by Powers and Sullivan, Certified Public Accountants.
(2) Includes State School Building Authority construction grant reimbursements.
(3) Effective fiscal 2011, due to GASB 54, there are changes in how Fund Balances are categorized and the Stabilization Fund is now
classified as part of the Unassigned General Fund Balance.
(4) Reserved for MSBA Grant.
A-3Source page 58
TOWN OF CANTON
MASSACHUSETTS
Combined Statement of Revenues, Expenditures and Changes in Fund Balances (1)
General Fund
(000 omitted)
Revenues 2014 2013 2012 2011 2010
Property Taxes $61,063 $59,064 $56,247 $55,346 $52,217
Payment in Lieu of Taxes 215 224 219 199 199
Tax Liens 783 220 372 225 194
Excises 3,715 3,474 3,204 3,290 3,080
Hotel & Meals Taxes 568 461 0 0 0
Penalties and Interest 344 324 263 306 317
Departmental and Other 951 789 485 501 1,068
Licenses and Permits 818 1,044 912 646 659
Intergovernmental - State 16,882 16,482 15,228 14,884 14,315
Fines and Forfeits 141 110 99 145 124
Earnings on Investments 145 82 122 145 126
MSBA Capital Grant 0 0 0 0 0
Total Revenues 85,625 82,274 77,151 75,687 72,299
Expenditures
General Government 4,256 3,589 3,464 3,447 3,819
Public Safety 9,745 9,438 8,887 8,903 8,615
Education 34,942 33,426 32,222 31,750 30,333
Public Works 4,649 4,308 3,790 4,209 4,064
Human Services 794 770 782 699 655
Culture and Recreation 1,703 1,513 1,465 1,477 1,382
Debt Service 6,140 6,063 5,967 5,868 5,904
Intergovernmental Charges 960 960 875 849 933
Employee Benefits 11,081 10,226 10,304 9,974 9,108
Pension Benefits 11,915 11,733 11,325 11,105 10,483
Total Expenditures 86,185 82,026 79,081 78,281 75,296
Excess (Deficiency) of Revenues Over
Expenditures (560) 248 (1,929) (2,594) (2,997)
Other Financing Sources (Uses)
Premium from Issuance of Debt 2,259 101 55 175 9
Proceeds from Refunding Bonds 15,185 0 0 0 0
Payments of Refunded Bonds 21,740 0 0 0 0
Operating Transfers - In 2,677 2,260 2,380 2,630 2,158
Operating Transfers - Out (1,023) (1,726) (349) (376) (261)
Total Other Financing Sources (Uses) (2,641) 635 2,088 2,429 1,906
Excess (Deficiency) of Revenues and
Other Financing Sources Over
Expenditures and Other Financing Uses (3,201) 883 158 (165) (1,091)
Fund Balance – Beginning (2) 14,269 13,386 13,228 13,393 11,249
Fund Balance - Ending $11,068 $14,269 $13,386 $13,228 $10,158
____________________
(1) Excerpts from audited financial statements of the Town. Totals may not add due to rounding.
(2) Effective fiscal 2011, due to GASB 54, there are changes in how Fund Balances are categorized and the Stabilization Fund is now
classified as part of the General Fund.
A-4Source page 59
APPENDIX B
There follows in this Appendix the audited financial statements of the Town of Canton, Massachusetts, as of
June 30, 2014 prepared by Roselli, Clark & Associates, Certified Public Accountants.
B-1Source page 60
This page intentionally left blank.
Source page 61
TOW NOF CANTON ,M ASSACHUSETTS
COM PREHENSIVE ANNUAL FINANCIAL REPORT
RONALD D. "BUTCE" PASONIAROSA |
@ CAMPUS @ |
CANTON PUBLIC WORKS
For the F iscalY ear Ended
June 30,2014
[Original embedded text, retained for comparison]
TOWN OF CANTON, MASSACHUSETTS
COMPREHENSIVE ANNUAL FINANCIAL REPORT
For the Fiscal Year Ended
June 30, 2014Source page 62
On the cover: The recently renovated Public Works garage was dedicated to Ronald D.”’Butch” Pasquarosa who had suffered a fatal heart attack in 2009. Mr. Pasquarosa dedicated 45 years of service to the Town before retiring in 2004 as the Assistant Superintendent of Public Works. Public Works Administration Building This Building is dedicated to Ronald D. “Butch” Pasquarosa In memory of his 45 years of “around the clock” service and devotion to Public Works and to Canton. With thanks from’ the Residents of Canton. Robert E. Burr, Jr. ~ Victor D. Del Vecchio John J. Connolly = Avril T. Elkort Gerald A. Salvatori, Jr. 2014 [Original embedded text, retained for comparison] On the cover: The recently renovated Public Works garage was dedicated to Ronald D.”Butch” Pasquarosa who had suffered a fatal heart attack in 2009. Mr. Pasquarosa dedicated 45 years of service to the Town before retiring in 2004 as the Assistant Superintendent of Public Works.
Source page 63
Town of Canton, Massachusetts
Comprehensive Annual Financial Report
For the Fiscal Year
July 1, 2013 through June 30, 2014
Prepared by the Finance DepartmentSource page 64
This page intentionally left blank.
Source page 65
Introductory Section The Dean S. Luce Elementary School’s field was dedicated to William “Billy” Cravens. Mr. Cravens attended the Luce school and was a standout athlete on the Canton High School football team. Mr. Cravens dedicated 22 years to the Canton Recreation Department as a grounds maintenance worker before passing away due to complications from ALS.
Source page 66
This page intentionally left blank.
Source page 67
TOWN OF CANTON, MASSACHUSETTS
COMPREHENSIVE ANNUAL FINANCIAL REPORT
YEAR ENDED JUNE 30, 2014
TABLE OF CONTENTS
Page(s)
INTRODUCTORY SECTION
Letter of Transmittal ....................................................................................................................... 1-11
Certificate of Achievement For Excellence in Financial Reporting................................................. 13
Organizational Chart Town .............................................................................................................. 14
Organizational Chart Schools ........................................................................................................... 15
Principal Town Officials .................................................................................................................. 16
FINANCIAL SECTION
Independent Auditor’s Report ....................................................................................................... 17-19
Management’s Discussion and Analysis ....................................................................................... 21-34
Basic Financial Statements:
Statement of Net Position .......................................................................................................... 37
Statement of Activities ............................................................................................................... 38
Balance Sheet – Governmental Funds ....................................................................................... 39
Reconciliation of the Governmental Funds Balance Sheet Total Fund Balances to
the Statement of Net Position ............................................................................................ 40
Statement of Revenues, Expenditures and Changes in Fund Balances –
Governmental Funds ........................................................................................................... 41
Reconciliation of the Statement of Revenues, Expenditures and Changes in Fund
Balances of Governmental Funds to the Statement of Activities ..................................... 42
Statement of Net Position – Proprietary Funds .......................................................................... 43
Statement of Revenues, Expenses, and Changes in Net Position – Proprietary Funds.............. 44
Statement of Cash Flows – Proprietary Funds ........................................................................... 45
Statement of Fiduciary Net Position .......................................................................................... 46
Statement of Changes in Fiduciary Net Position ....................................................................... 47
Notes to Basic Financial Statements ....................................................................................... 48-73
Required Supplementary Information:
Schedules of Funding Progress .................................................................................................. 77
Schedules of Contribution Funding ........................................................................................... 77
Schedule of Revenues, Expenditures and Changes in Fund Balances – Budget and
Actual – General Fund .................................................................................................. 78-80
Notes to Required Supplementary Information ....................................................................... 81
Combining Statements:
Nonmajor Governmental Funds ............................................................................................ 83-85
Combining Balance Sheet – Nonmajor Governmental Funds ........................................ 86-89
Combining Statement of Revenues, Expenditures, and Changes in Fund
Balances – Nonmajor Governmental Funds ........................................................... 90-93
iSource page 68
TOWN OF CANTON, MASSACHUSETTS
COMPREHENSIVE ANNUAL FINANCIAL REPORT
YEAR ENDED JUNE 30, 2013
TABLE OF CONTENTS
Page(s)
Internal Service Funds ............................................................................................................ 95
Combining Statement of Net Position – Internal Service Funds ...................................... 96
Combining Statement of Revenues, Expenses and Changes in Net Position –
Internal Service Funds ............................................................................................. .97
Combining Statement of Cash Flows – Internal Service Funds ....................................... .98
Fiduciary Funds ....................................................................................................................... 99
Statement of Changes in Assets and Liabilities – Agency Fund ..................................... 100
STATISTICAL SECTION
Narrative ..................................................................................................................................... 101
Net Position by Component – Last Ten Fiscal Years...................................................................... 103
Changes in Net Position – Last Ten Fiscal Years ....................................................................... 104-105
Fund Balances, Governmental Funds – Last Ten Fiscal Years ....................................................... 106
Changes in Fund Balances, Governmental Funds – Last Ten Fiscal Years .................................... 107
Assessed Value and Estimated Actual Value of Taxable Property By Classification
and Tax Rates – Last Ten Fiscal Years............................................................................ 108
Principal Taxpayers – Current Year and Nine Years Ago .............................................................. 109
Property Tax Levies and Collections – Last Ten Fiscal Years........................................................ 110
Ratios of Outstanding Debt by Type – Last Ten Fiscal Years ........................................................ 111
Ratios of General Bonded Debt Outstanding .................................................................................. 112
Computation of Legal Debt Margin – Last Ten Fiscal Years ......................................................... 113
Direct and Overlapping Governmental Activities Debt .................................................................. 114
Demographic and Economic Statistics – Last Ten Fiscal Years ..................................................... 115
Principal Employers (Excluding Town) – Current Year and Nine Years Ago ............................... 116
Full-time Equivalent Town Employees by Functions – Last Ten Fiscal Years .............................. 117
Operating Indicators by Function/Program – Last Ten Fiscal Years .............................................. 118
Capital Asset Statistics by Function/Program – Last Ten Fiscal Years .......................................... 119
iiSource page 69
Letter of Transmittal
November 26, 2014
Honorable Board of Selectmen and Citizens of the Town of Canton, Massachusetts:
I am pleased to acknowledge that the Town of Canton has completed its ninth Comprehensive Annual
Financial Report (CAFR). The report is for the fiscal year ended June 30, 2014, and I am proud that we
have continued this annual tradition of preparing a report that communicates to our constituents and
investors the highest degree of transparency in financial reporting for municipalities.
The Town is responsible for the accuracy, completeness and fairness of the data presented in the CAFR.
This letter of transmittal and the management’s discussion and analysis, located in the financial section
of the CAFR, provide a comprehensive financial overview of the Town and ensure that the financial and
general operations of Town government remain open for easy viewing.
The CAFR represents a complete set of financial statements in conformity with generally accepted
accounting principles in the United States of America (GAAP), that are audited in accordance with
generally accepted auditing standards by a firm of licensed certified public accountants. This CAFR
meets and exceeds those requirements and presents itself as an informative resource for all those
interested in the financial activities of the Town.
The report is designed to be used by the elected and appointed officials of the Town and others who are
concerned with its management and progress such as bond analysts, banking institutions and rating
agencies as well as the citizens and taxpayers of the Town of Canton.
Since the report consists of management’s representations concerning the finances of the Town,
management assumes full responsibility for the completeness and reliability of all of the information
presented. In addition, management of the Town is responsible for establishing and maintaining an
internal control structure designed to ensure the assets of the Town are protected from loss, theft or
misuse and to ensure that adequate accounting data is compiled to allow for the preparation of financial
statements in conformity with GAAP. Because the cost of internal controls should not outweigh their
benefits, the Town of Canton’s comprehensive framework of internal controls has been designed to
provide reasonable rather than absolute assurance that the financial statements will be free from material
misstatement.
Town of Canton, Massachusetts Page 1 of 119 Comprehensive Annual Financial ReportSource page 70
The Town of Canton’s financial statements have been audited by Roselli, Clark and Associates, a firm of
licensed certified public accountants. The goal of the independent audit is, to on an annual basis, provide
reasonable assurance that the financial statements of the Town of Canton are free of material
misstatement. The independent audit involved examining, on a test basis, evidence supporting the
amounts and disclosures in the financial statements; assessing the accounting principles used and
significant estimates made by management; and evaluating the overall financial statement presentation.
The independent auditor concluded, based upon the audit, that there was a reasonable basis for rendering
an unqualified opinion that the Town of Canton’s financial statements for the fiscal year ended June 30,
2014 are fairly presented in conformity with GAAP. The independent auditor’s report is presented as the
first component of the financial section of this report.
The independent audit of the financial statements of the Town of Canton was part of a broader, federally
mandated “Single Audit” designed to meet the special needs of federal grantor agencies. The standards
governing Single Audit engagements require the independent auditor to report not only on the fair
presentation of the financial statements, but also on the audited government’s internal controls and
compliance with legal requirements, with special emphasis on internal controls and legal requirements
involving the administration of federal awards. These reports are available in the Town of Canton’s
separately issued Single Audit Reports Pursuant to OMB Circular A-133.
GAAP requires that management provide a narrative introduction, overview, and analysis to accompany
the basic financial statements in the form of Management’s Discussion and Analysis (MD&A). This letter
of transmittal is designed to complement that analysis and should be read in conjunction with it. The
Town of Canton’s MD&A can be found immediately following the report of the independent auditors.
Profile of the Town
Canton was incorporated as a Town in 1797. The Town is located in eastern Massachusetts,
approximately 18 miles southwest of Boston, has a population of approximately 21,000 and a land area of
approximately 19 square miles. It is situated at the junction of Interstates 95 and 93, with access to Routes
24 and 138, providing an excellent location for residents, businesses and commuters.
Town of Canton, Massachusetts Page 2 of 119 Comprehensive Annual Financial ReportSource page 71
MBTA commuter rail trains on the Providence/Stoughton Line pass through Canton. Some stop at Canton
Junction. This line crosses the Neponset River on the Canton Viaduct, a prominent local landmark. Route
128 Station in neighboring Westwood also carries many Canton commuters into Boston. Amtrak trains
(including the Acela Express high-speed trains) also stop at Route 128, but pass through Canton without
stopping. Another line branches into Stoughton, stopping at Canton Center.
Bus service is available to Mattapan Station in the MBTA system, and Canton’s close proximity to
Boston also places it within a reasonable distance from Logan International Airport, the largest
transportation center in New England.
The Town has a rich and varied industrial heritage, serving as the location of Paul Revere’s copper rolling
mills in post-Colonial times, and as the site of rubber, chemical and woolen manufacturing in more recent
times. Present commercial enterprises play a key role in the Town’s fiscal stability and are considered a
major asset to the community. The prime commercial areas are well located so as to allow direct highway
access without affecting the community’s small town charm.
Many of the Town’s lakes, ponds and wetlands have been protected and preserved for present enjoyment
and future generations. Among the protected areas are the Eleanor Cabot Bradley Reservation, an 82 acre
estate that blends open fields, woodlands and gardens in the shadow of Great Blue Hill and Pequitside
Farm, a town-owned 38 acre conservation and recreation area which offers playing fields, picnicking,
hiking and cross country skiing.
The Town offers a full range of traditional municipal services including police and fire protection,
ambulance and rescue services, education, maintenance of streets and infrastructure, solid waste
collection and disposal, health and human services, cultural and recreational, administrative and financial
services. The Town is a member community of the Massachusetts Water Resources Authority (MWRA)
for its water and sewer services.
Canton prides itself on its quality school system. Canton students consistently perform well on national
and state tests and over 90% of students graduating from the high school go on to higher education. The
Town is the location of the Blue Hills Regional Technical School which provides expanded vocational
education opportunities for high school students of Canton and eight other area communities. Canton is
also home to one of the two campuses of Massasoit Community College. The campus is a multi-level
facility with specialized labs and art studios that support the technical and visual arts programs of the
College. The campus also includes the Milton Art Museum, Akillian Gallery and the College’s
Professional Development Center.
Several years ago, the Town reached its 10% affordable housing requirement mandated by the
Commonwealth of Massachusetts (Commonwealth), which is an important milestone as communities
under the 10% threshold are subject to an appeals process that can overturn local zoning board decisions.
This will allow the Town to maintain its commitment to developing much needed affordable housing
units in areas of the Town that can accommodate the growth.
The Town operates under the Selectmen, Town Administrator, and Open Town Meeting form of
government. The five elected Selectmen make policy decisions, and the Town Administrator is
responsible for carrying out the policies of the Selectmen and for managing the day-to-day operations of
Town of Canton, Massachusetts Page 3 of 119 Comprehensive Annual Financial ReportSource page 72
the Town. The policies and procedures of the Board of Selectmen are detailed in the
administrative Code that will continue to evolve and be created over time to best serve the community.
An elected, five-member School Committee appoints a School Superintendent who administers the public
school system of the Town. School Committee members, like the Selectmen, are elected at-large to three-
year staggered terms.
An annual operating budget is approved by Town Meeting two months prior to the start of the fiscal year.
This annual budget serves as the foundation for the Town’s financial planning and control. The budget is
prepared by fund, function (e.g. general government) and department (e.g. finance) allowing the
department heads to allocate resources within the department as they see fit. Transfers between
departments, however, need special approval by Town Meeting unless specifically exempted by state
statute.
Factors Affecting Economic Condition
Canton continues to take a pro-active approach encouraging well planned economic development. The
Town fully appreciates the significance of commercial and industrial growth and development (and
redevelopment) especially in terms of long term fiscal stability. The Town continues its focus on future
growth, which is sustainable and “complimentary” for economic development including employment
opportunities for our residents.
Municipal officials continue to work closely with and receive valuable support from the State Office of
Business Development as well as regional planning support from the Metropolitan Area Planning Council
(MAPC). In addition business advocacy organizations, such as Canton Association of Business and
Industry (CABI) play a vital role. The Town strives to take full advantage of the latest initiatives and
incentives made available to it notably under Chapter 43D for expedited permit approvals and Tax
Incremental Financing (TIF).
The Town’s Economic Development Committee (EDC) is also a special resource. The Town regularly
takes advantage of local talent from the community who specialize in finance, banking, development and
real estate.
The Town continues to update and publish an economic development recruitment guide which includes
pertinent information sought by private company CEO’s when making siting and expansion decisions.
Recently, the Board of Selectmen published a new business and community guide and has made that
information available online as well.
As previously discussed, the Town surpassed its required l0% affordable housing goal as required by
State regulation. The Town has incorporated a continued affordable housing unit goal, within the Housing
Action Plan, to ensure the Town keeps pace with any new market rate unit starts. This year the
construction by Avalon Development of additional affordable housing will commence on Randolph Street
and further increase the Town’s 40B compliance.
The Town’s commitment to sound economic development is further demonstrated by creating
partnerships with (MAPC) Metropolitan Area Planning Council and Neponset Valley Chamber of
Commerce to ensure that the coordination and resource allocation on key planning issues facing the
Town. The Town reactivated the Economic Development Committee and created, with Town Meeting,
the Permit Advisory Committee both of which provide technical assistance to new businesses to Canton.
Town of Canton, Massachusetts Page 4 of 119 Comprehensive Annual Financial ReportSource page 73
The Town has instituted a Google-based web search device, which identifies Canton as a business
friendly community. The web product highlights, via a series of videos, the Town of Canton as a solid
and desirable business and family destination. The Town’s continued status as a 43D Expedited
Permitting Community has benefitted the Town greatly and has led to the actual designation of many new
priority development sites. This 43D designation, which was granted to the Town in 2008, came with a
$150,000 grant to hire a permit specialist who has completed the administrative and organizational work
necessary to implement the issuance of permits via an integrated and automated town wide permit system
which better serves the public and the Town in terms of real time tracking of permits.
The Town has available a permit guidebook, which lays out the Town’s permitting requirements in an
easy to use format. The goal is to identify key requirements and improve communications, saving
applicants time and money. The Permit Advisory Committee has been a successful endeavor by bringing
together key permit granting agency representatives to counsel and guide any proponent of a proposed
commercial endeavor. Participation and results continue to be overwhelmingly positive. The Town has
also published a Tax Incremental Financing Evaluation Policy document designed to provide a rational
and consistent intake evaluation of TIF requests. The new approach allows the Town to quantify and
better evaluate any request to reduce taxes for a business seeking to locate or expand. Also, the Town
launched a Payment in Lieu of Taxes Program (PILOT) that encourages non-taxable property owners to
voluntarily participate in the support of public services.
The Town has completed construction of the downtown revitalization project commonly referred to as the
Streetscape Improvement Project. This work was funded as a result of a $2.6 million dollar
Commonwealth grant received due to the Town’s Smart Growth efforts and rezoning of the Downtown.
The Town has also completed safety and efficiency improvement work on two key intersections ($2.2
million dollar Commonwealth grant) located in the heart of the Route 138 business district. These
intersections are located at the Randolph and Washington Street Intersections with Route 138. These
projects have improved both the safety and efficiency of this commercial roadway. In addition, the Board
of Selectmen has also empanelled a multi-disciplined group of volunteers who have completed a
visioning process which has led to a variety of re-zoning recommendations with a goal of improving the
business climate and enhance zoning flexibility to spur additional economic development potential along
this vital commercial roadway.
Town of Canton, Massachusetts Page 5 of 119 Comprehensive Annual Financial ReportSource page 74
The Town was also a participant in a regional planning study to evaluate the effects of new growth in
both residential and commercial construction. The study’s focus was to identify growth related problems
such as transportation, infrastructure, environmental, and economic development issues. In addition, a
build-out analysis was completed to assist and improve public policy decision-making with regard to
growth and development related to educational planning. These studies have been coordinated with other
immediate area communities.
The Town is in the process of evaluating the opportunities and or impacts of the South Coast Rail Project
which is advancing through preliminary and environmental design. The State initiative would provide rail
service from Boston to Fall River/New Bedford via a route now determined by the State, known as the
Stoughton Alternative, which will include impacts in Canton.
The Town had submitted approximately $76,000,000 in requests as part of the Federal Stimulus Funding
Initiative with a goal to benefit overall capacity and infrastructure. In 2010 the Town received a MORE
grant in the amount of $850,000 and completed infrastructure improvements along Dan Road, an
important commercial area of Town. After much effort, the Town secured the commitment of
Organogenesis, a bio tech firm, now located on Dan Road, which was contemplating relocation. Their
commitment to stay in Canton and expand was an important part of the Town’s success in obtaining this
new funding.
Canton’s Master Plan Initiative required a careful review and analysis of existing conditions balanced
with a vision for the future. The work program is designed to enlist public interest and participation in
shaping the Town’s future. Workshops, neighborhood meetings, leadership interviews and community
surveys were conducted. The Town has conducted an extensive public outreach campaign to better assure
good attendance at workshops and neighborhood focus groups. Existing planning, engineering reports and
documents have been reviewed and a written report, which summarizes their major issues and relevant
recommendations were prepared and remains available. The overall objective of the Master Plan initiative
was to develop a sustainable residential and business development strategy for the Town.
Another objective of the Master Plan Initiative was to address the often-conflicting goals of economic
development and resource protection. Sustainable development providing for economic growth that is
compatible with resource protection remains an important Town focus. The Town’s approach includes
promoting economic development that is supported by adequate infrastructure. Thus, the dual objectives
Town of Canton, Massachusetts Page 6 of 119 Comprehensive Annual Financial ReportSource page 75
of the Master Plan Initiative remain to provide for economic growth which is (1) compatible with
resource protection and (2) supported by adequate infrastructure. To ensure this, the Town embarked on a
four-town regional planning initiative, which is still ongoing. The Towns of Canton, Dedham, Norwood
and Westwood share a common watershed and an interlinked highway system. The Towns continue to
work together and meet regularly to discuss economic development on a regional basis. This regional
planning initiative encourages and reminds area towns that, despite borders, what happens in another
neighboring community may have an impact, both positive and potentially negative, on one another. The
Towns plan and communicate to shape growth, protect water resources, transportation infrastructure and
to insure support and advocacy for growth in the region - to everyone’s benefit. This group continues to
pursue State and Federal funding for the replacement of the Interstate 95 and Interstate 93 Interchange, a
source of safety concerns and traffic tie-ups.
Residential developments such as Windsor Woods, Indian Woods, Pequit View and Blue Hill Commons
are complimented by commercial developments such as Dunkin Brands with their worldwide corporate
headquarters along with other top Canton companies such as Meditech, Network Engines, One Beacon,
Boston Mutual, Computershare, LoJack and Pepsi.
The Town’s planning focus also includes improvements to the highway system that serves the Town and
the region. Now underway is the Route 128 Add-a-Lane Project, which is federally funded with expected
completion by the end of 2015.
The Town recently entered into a long-term lease of its capped landfill to be used by a private entity to
install solar panels on fifteen acres of the site at no cost to Canton. The lease provides the Town with
guaranteed payments of $20,000 per acre, per year, while allowing the Town the ability to purchase all
the electricity generated by this 5.6 megawatt facility at a substantial savings. The Pine Street Solar
Facility went online August 15, 2012 (one of the largest in the Northeast) and provided over $100,000
in net metering credits savings to the Town, along with lease payments totaling $300,000 in new
recurring operating revenue increasing annually by 2.5%.
In summary, Town leaders recognize the importance of maintaining a stable tax situation for its residents.
Development on the commercial side helps accomplish this goal and the Town continues to seek out the
means to maintain vigilance in this area.
Property Taxes The growth of the Town’s main source of revenues, property taxes, is capped by
Proposition 2 ½ and can only be overridden through a ballot by the voters. While revenue increases have
been limited in recent years, fixed costs, including health insurance and pension costs, have increased
Town of Canton, Massachusetts Page 7 of 119 Comprehensive Annual Financial ReportSource page 76
more proportionally. As a result, balancing the annual budget is a challenge without an appropriation
from free cash. The Town attempts to mitigate this impact by conservatively forecasting revenues thus
creating free cash in the subsequent year.
Several years ago, the Town’s management made the difficult choice to cut services and raise fees in
order to balance the budget. With more cuts looming in future years, the Town’s voters approved a $4.5
million Proposition 2 ½ tax override for fiscal year 2009 that allowed for the restoration of most of the
budget cuts from the prior years. The tax override was planned to be phased in over a three year period
with an annual cost to the average residential homeowner of $450. In addition, effective fiscal year
2013, the Town negotiated changes to its health insurance plans that required higher out of pocket costs
from its employees and retirees but stabilized rates. These initiatives have allowed the Town to maintain a
consistent level of reserves from year to year and continue to make contributions to its OPEB Trust Fund.
The following illustrates the Town’s unassigned fund balance trend since 2010:
Unassigned Fund Balances (Millions)
10.0
8.0
6.0
4.0
2.0
0.0
2010 2011 2012 2013 2014
As a result of the Proposition 2 ½ tax override, and strong reserve levels, Standard and Poor’s upgraded
the Town’s bond rating from ‘AA+’ to ‘AAA’, their highest rating given. The override and the resulting
revenue flexibility to restore lost services and stabilize budgets in future fiscal years were cited as
prominent factors in the upgrade. Standard and Poor’s also cited the Town’s strong wealth and income
levels.
The Town is committed to maintaining its reserves at a level expected from communities that engender
the highest bond rating.
Long-term Financial Planning
Several years ago, the Town implemented a policy of preparing rolling projections. The Town believes
this will provide better insight when preparing annual budgets and will also alert the Town to any
potential budgeting issues far ahead of when these situations become real issues.
The following represents the Town’s summarized budgets for each of the next five years:
Town of Canton, Massachusetts Page 8 of 119 Comprehensive Annual Financial ReportSource page 77
2015 2016 2017 2018 2019
Revenues and Other Sources
Real Estate and Personal Property Taxes $ 63,075,283 $ 65,663,612 $ 67,515,167 $ 69,357,771 $ 71,230,890
State Aid 7,644,728 7,644,728 7,644,728 7,644,728 7,644,728
Local Receipts 5,815,324 5,840,405 5,846,040 5,851,816 5,857,736
Transfers and Other Sources 2,488,960 2,346,425 2,384,766 2,424,297 2,465,053
Total Revenues 79,024,295 81,495,170 83,390,701 85,278,612 87,198,407
Expenditures and Other Uses
Education Budget 34,548,305 35,281,850 35,747,840 36,205,948 36,529,244
Municipal Budget 17,274,371 17,641,148 17,874,147 18,103,205 18,264,854
Fixed Costs 24,999,563 26,501,647 27,573,926 28,649,801 30,059,160
State and County Charges 946,854 970,525 994,788 1,019,658 1,045,149
Capital costs 1,750,000 1,100,000 1,200,000 1,300,000 1,300,000
Total Expenditures 79,519,093 81,495,170 83,390,701 85,278,612 87,198,407
Surplus/(Deficit) $ (494,798) $ - $ - $ - $ -
Graphically by fiscal year in millions:
Annual Budget $ millions
90
80
70
60
2015 2016 2017 2018 2019
Town of Canton, Massachusetts Page 9 of 119 Comprehensive Annual Financial ReportSource page 78
Capital Improvements and Financing
The Town continues to invest in infrastructure improvements such as roads, sewers, and water supply
facilities, as well as various municipal and school facility upgrades. These include: Town Hall, Library,
Public Safety Facilities, Public Works and School building improvement projects. This year the Town
has begun the renovations of a former Knights of Columbus Hall to become a new Senior Center located
at 500 Pleasant Street to address the growing, aging population in need of expanded and updated senior
services.
As part of the annual budget process, the Capital Planning Committee (CPC) recommends the capital
budget for the upcoming year and prepares a five-year plan to address the long-term capital needs of the
Town. The capital spending plan for the five year period from fiscal year 2015 through fiscal year 2019
has an estimated cost of $58.5 million, with $7.5 million to be funded from estimated revenues with the
remainder to be funded from the issuance of bonds. The CPC’s capital plan has allocated $5.9 million for
municipal departments, $4.8 million for the school department, $8.7 million for the water enterprise fund,
$38.7 million for the sewer enterprise fund, and $415,000 for the rink enterprise fund.
The Town’s target set aside to finance its capital plan is 5% to 6% of recurring revenues. A portion of its
annual capital plan funds smaller capital projects on a pay-as-you-go basis through recurring revenues
while larger capital projects are financed through borrowing.
In addition, the Town has completed the construction of two new water filtration plants. These water
filtration plants will provide state of the art water filtration capabilities and allow for the use of local
source water to reduce operating costs, improve water availability (including redundancy) and filtrate
water for customers with the most technologically advanced system available today.
The Town has begun repairs to Shepard Pond dam which was classified by the state as being a Significant
Hazard Dam in poor condition. To help fund this repair project, the Town will receive a $665,000 grant
and a $335,000 low interest loan from the Executive Office of Environmental Affairs.
Awards and Acknowledgements
The Government Finance Officers Association of the United States and Canada (GFOA) awards a
Certificate of Achievement for Excellence in Financial Reporting. This is a very prestigious award and
in order to be awarded a Certificate of Achievement, a government must publish an easily readable and
efficiently organized comprehensive annual financial report. This report must satisfy both generally
accepted accounting principles and applicable legal requirements.
The GFOA awarded this Certificate of Achievement for Excellence in Financial Reporting to the Town of
Canton for its comprehensive annual financial report for the fiscal year ended June 30, 2013. This was the
eighth year that the Town has achieved this prestigious award.
A Certificate of Achievement is valid for a period of one year only. We believe that our current
comprehensive annual financial report will meet the Certificate of Achievement Program’s requirements,
and we are submitting it to the GFOA to determine its eligibility for this certificate.
The publication of this CAFR represents an important achievement in the ability of the Town of Canton
to provide enhanced financial information and accountability to its citizens, elected and appointed
Town of Canton, Massachusetts Page 10 of 119 Comprehensive Annual Financial ReportSource page 79
officials, and investors. The preparation of this report would not have been possible without the efficient
and dedicated services of the entire staff of the Finance Office.
Special thanks also go to the certified public accounting firm of Roselli, Clark and Associates for their
advice and assistance in the preparation of this report.
Respectfully submitted,
William T. Friel
Town Administrator
James R. Murgia
Finance Director
Town of Canton, Massachusetts Page 11 of 119 Comprehensive Annual Financial ReportSource page 80
This page intentionally left blank. Town of Canton, Massachusetts Page 12 of 119 Comprehensive Annual Financial Report