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General Fund FYE 20 Financial Results
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TOWN OF CANTON, MASSACHUSETTS
DEPARTMENT OF FINANCE
TOWN ACCOUNTANT
MEMORIAL HALL KATHLEEN D. BUTTERS
801 WASHINGTON STREET (781) 575-6605
CANTON MA 02021
WILLIAM R. SCOLLINS, III FAX (781) 575-6608 ASST. TREASURER/COLLECTOR
FINANCE DIRECTOR PHONE (781)575-6610 SUSAN DESJARDINS
TEL: (781) 575-6612 (781) 821-5006
INFORMATION
SYSTEMS MANAGER
LOUIS M. JUTRAS
(781) 821-5069
MEMORANDUM
TO: Board of Selectmen
FROM: Randy Scollins, Finance Director
DATE: September 20, 2020
SUBJECT: General Fund’s Fiscal 2020 Operating Results
Having recently closed the books for fiscal 2020, the Finance Department prepared the
following reports which are attached for your review:
1) Summary of Revenues and Expenditures
2) Revenue Report (2 pages)
3) Operating Expenditure Report (4 pages)
4) Balance Sheet as of June 30, 2020
Budgeted Revenues and Expenditures
The summary report compares budgeted revenues and expenditures against actuals for fiscal
2019 and 2020. The fiscal 2020 budgeted deficit of $1,693,987 was due to cash reserves,
funds raised on the Tax Recap, and the carry forward of appropriations from prior years used for
the following items:
Transfer to School SPED Reserve 700,000
Washington / Randolph Intersection Improvements 500,000
Collective Bargaining Funding 111,085
July 4th Community Celebration 35,000
Hansen Elementary School Roof 31,609
Fire Breathing Apparatus 16,000
Fire Grant Match 1,200
Total Cash Reserves Budgeted $1,394,894
DIF Funding related to PRHS raised on the Tax Recap $94,885
Encumbrances funded from Prior Year Appropriations $204,208
Total Additional Funds Budgeted $1,693,987Source page 2
General Fund’s Fiscal 2020 Operating Results
September 20, 2020
Page 2 of 3
Actual Revenues and Expenditures
Fiscal 2020 was a challenging year with revenues falling short of expenditures by $557K.
Compared to the budgeted deficit of $1.69 million this operating deficit was $1.13 million better
than plan.
The revenue and expenditure variances to plan are as follows:
Local Receipts (excise taxes, bldg. permits, misc. revenues, interest income) $880,154
Tax Title Revenue 235,221
Transfers from Other funds (Solar facility) 95,413
State Aid 49,947
Property Tax Revenue -1,689,835
Total Revenue Deficit -$429,101
Unspent appropriations (mostly municipal budgets and fixed costs) 1,565,962
Total Variance to Plan $1,136,861
FYE 2020 revenue performance was impacted very significantly by the economic challenges
presented by the Covid-19 pandemic in two areas, Property Taxes and Local Receipts.
Property tax revenue collections for FY 2020 were $1.69MM less than plan. Collections were
negatively impacted primarily by the decision to adopt the unique MGL statute allowed by the
legislature and adopted by the Select Board to provide taxpayers until June 30 to pay their 4th
quarter tax bills, usually due May 1st, as a form of relief. This resulted in a collection rate of
98.13% on FY ‘20 property taxes. The collection rate is typically over 99%. Over half of these
uncollected taxes have already been received, in FY ’21, as of this writing. Further, collection of
prior year property taxes is typically accretive to the current year’s property tax revenue
collections. However FY ’20 collections were negatively impacted by large abatements of prior
year taxes to one taxpayer totaling ~$509K in FY ‘20. The effect of returning these already
collected payments is to reduce current year revenue. This reduction was offset by a net $145K
in the collection of prior year tax payments. In summary, net FY ’20 property tax collections are
summarized as follows:
FY 2020 Tax Collections for FY ’20 Taxes – collection rate of 98.32% $77,780,712
FY 2020 Net Tax Collections for Prior Year Taxes 145,391
FY 2020 Abatements for Prior Year Taxes Paid (1 company) -505,893
Net FY 2020 Total Tax Collections $77,420,210
FY 2020 Property Tax Collections to date, not including collections of prior year taxes:
FY 2020 Property Taxes Budgeted $79,110,045
FY 2020 Property Taxes Collected in FY ’20 -77,780,712
FY 2020 Property Taxes Outstanding at FYE ’20 1,329,333
FY 2020 Property Taxes Collected to date in FY ’21 -755,065
Net FY 2020 Property Taxes Outstanding– collection rate to date 99.27% $574,268
Although Local Receipts were better than budget by $880K, the expectation was $1.5MM in
excess local receipts, consistent with prior year performance and plans. The impact of Covid-19
restrictions resulted in significant downward pressure on the world economy, including Canton.
As a result, meals and hotel excise taxes, earnings on investments, and miscellaneous
revenues were not as strong as they have been. In addition, allowing for tax payments to beSource page 3
General Fund’s Fiscal 2020 Operating Results
September 20, 2020
Page 3 of 3
paid by June 30, rather than May 1st, without fee and interest penalties, resulted in reduced
penalties & interest and fines and forfeits revenues. The silver lining being a form of financial
relief to taxpayers.
However on the expenditure side, it was a very positive year with $1.56MM in appropriation turn
backs with the top five returning the following:
Fincom Reserve Fund (no year-end transfers required) $700,000
Snow & Ice (mild winter) 244,594
Fire Department (Covid related expenses funded by FEMA/Cares) 178,655
Public Works 59,954
School Department 58,528
All Other Departments 324,231
Total Appropriation Turn Backs $1,565,962
Status of Cash Reserves
The attached balance sheet report prepared as of June 30, 2020 will be submitted to the
Department of Revenue for free cash reserve certification.
We estimate the general fund’s free cash reserve to be approximately $6.5 million as of June
30, 2020. Please know that the final determination as to our free cash reserve is made by the
Department of Revenue.
As a result of the operating results from fiscal 2020, the Town’s cash reserves have increased
to an estimated $18.2 million as follows:
Stabilization Fund $9,393,074
Free Cash Reserve 6,500,000
Surplus Overlay Reserve (net of pending ATB cases) 2,343,370
Total $18,236,444
These reserves amount to 17.6% of fiscal 2021’s budget. In efforts to maintain our AAA bond
rating we target our reserves to be 15% of budget and we have achieved that goal in fiscal
2020.
I hope you will find this information to be useful. If you have any questions or comments, please
contact me and I’ll be happy to discuss.
Attachments
cc: Charles Aspinwall, Town Administrator
Kathy Butters, Town Accountant
Jennifer Fischer-Mueller, Superintendent of Schools
Tim McKenna, Chair, Finance Committee
Kristin Mirliani, Chair, School Committee
Barry Nectow, School Business AdministratorSource page 4
SUMMARY OF REVENUES AND EXPENDITURES
CURRENT FISCAL YEAR PRIOR FISCAL YEAR
FY 2020 FY 2020 Actuals vs. FY 2019 FY 2019 Actuals vs.
Revised Budget ACTUAL Revised Budget Revised Budget ACTUAL Revised Budget
GENERAL FUND REVENUES:
PROPERTY TAX REVENUE 79,110,045 77,420,210 (1,689,835) 76,454,654 76,579,699 125,045
STATE AID 9,368,213 9,418,160 49,947 9,151,607 9,171,784 20,177
LOCAL RECEIPTS 7,378,804 8,258,958 880,154 6,772,736 9,116,611 2,343,875
TRANSFERS FROM OTHER FUNDS 3,169,138 3,264,551 95,413 2,626,374 2,901,030 274,656
TAX TITLE / FORECLOSURE REVENUE 235,221 235,221 0 220,536 220,536
TOTAL REVENUES 99,026,200 98,597,099 (429,101) 95,005,371 97,989,660 2,984,289
GENERAL FUND EXPENDITURES:
SCHOOL EXPENSES 44,114,362 44,055,834 58,528 42,391,565 42,391,565 (0)
MUNICIPAL EXPENSES 22,215,240 21,716,443 498,797 21,310,810 20,567,535 743,275
FIXED COSTS 30,022,368 29,074,828 947,540 28,815,599 28,316,500 499,099
TOTAL OPERATING EXPENSES 96,351,970 94,847,105 1,504,865 92,517,974 91,275,600 1,242,374
CASH CAPITAL EXPENDITURES 2,435,000 2,420,458 14,542 2,079,000 2,067,331 11,669
TRANSFERS TO STABILIZATION FUNDS 0 0 0 600,000 600,000 0
SPECIAL APPROPRIATIONS 700,000 700,000 0 2,558,809 2,558,809 (0)
STATE & COUNTY CHARGES 1,233,217 1,186,662 46,555 1,230,721 1,230,700 21
TOTAL EXPENDITURES 100,720,187 99,154,225 1,565,962 98,986,504 97,732,441 1,254,063
SURPLUS/(DEFICIT) - GENERAL FUND (1,693,987) (557,125) 1,136,861 (3,981,133) 257,220 4,238,353
ATMDATA - 9-18-20.xlsx summary 9/17/2020Source page 5
TOWN OF CANTON, MA
REVENUE REPORT
SUMMARY OF REVENUE ACCOUNTS FOR FUND
As of June 30
FY 2020 FY 2020 FY2020 % OF FY 2019 FY 2020 YTD ACTUAL vs.
ORIGINAL REVISED YTD ANNUAL YTD FY 2019 YTD ACTUAL
BUDGET BUDGET ACTUAL BUDGET ACTUAL $$ VARIANCE % VARIANCE
01-PROPERTY TAXES
10011 PERSONAL PROPERTY TAXES 4,700,000 4,700,000 4,745,574 101.0 4,657,227 88,347 1.9
10012 REAL ESTATE TAXES 74,410,045 74,410,045 72,674,636 97.7 71,922,472 752,164 1.0
TOTAL: 01-PROPERTY TAXES 79,110,045 79,110,045 77,420,210 97.9 76,579,699 840,511 1.1
02-LOCAL RECEIPTS
10015 MOTOR VEHICLE EXCISE 4,300,000 4,300,000 4,560,311 106.1 4,903,303 (342,991) (7.0)
10016 OTHER EXCISE-HOTEL/MEALS TAX 550,000 550,000 568,692 103.4 617,749 (49,056) (7.9)
10017 PENALTIES & INTEREST 300,000 300,000 240,078 80.0 284,011 (43,933) (15.5)
10018 PAYMENTS IN LIEU OF TAXES 248,804 248,804 254,165 102.2 242,736 11,429 4.7
10032 FEES 150,000 150,000 148,083 98.7 184,891 (36,808) (19.9)
10036 RENTALS 200,000 200,000 219,064 109.5 227,884 (8,821) (3.9)
10037 OTHER DEPARTMENT REVENUE 100,000 100,000 92,290 92.3 98,109 (5,820) (5.9)
10041 ALCOHOL LICENSES 70,000 70,000 81,825 116.9 90,410 (8,585) (9.5)
10042 OTHER LICENSES 80,000 80,000 61,541 76.9 71,740 (10,199) (14.2)
10045 PERMITS 750,000 750,000 1,279,096 170.5 1,095,731 183,365 16.7
10054 OTHER MISC FEDERAL REVENUE 0 0 139,691 0.0 3,511 136,180 3878.4
10077 FINES AND FORFEITS 100,000 100,000 54,683 54.7 87,062 (32,379) (37.2)
10082 EARNINGS ON INVESTMENTS 280,000 280,000 395,819 141.4 462,953 (67,134) (14.5)
10084 OTHER MISC. REVENUE 50,000 50,000 48,977 98.0 536,624 (487,647) (90.9)
10085 REIMBURSEMENTS 200,000 200,000 114,644 57.3 209,898 (95,253) (45.4)
TOTAL: 02-LOCAL RECEIPTS 7,378,804 7,378,804 8,258,958 111.9 9,116,611 (857,654) (9.4)
03-STATE AID
10062 EDUCATION DIST & REIMB. 6,799,243 6,799,243 6,823,009 100.3 6,662,453 160,556 2.4
10066 GEN GVMT REIMB & DISTRIB 2,568,970 2,568,970 2,595,151 101.0 2,509,331 85,820 3.4
TOTAL: 03-STATE AID 9,368,213 9,368,213 9,418,160 100.5 9,171,784 246,376 2.7
04-TRNS. FROM OTHER FUNDS
10097 OTHER FIN SRC-TRANSFERS 3,169,138 3,169,138 3,264,551 103.0 2,901,030 363,521 12.5
W:\Munis\MCR Library\Budget reports\Canton Revenue Report.rpt Page 1 of 2 9/16/2020Source page 6
TOWN OF CANTON, MA
REVENUE REPORT
SUMMARY OF REVENUE ACCOUNTS FOR FUND
As of June 30
FY 2020 FY 2020 FY2020 % OF FY 2019 FY 2020 YTD ACTUAL vs.
ORIGINAL REVISED YTD ANNUAL YTD FY 2019 YTD ACTUAL
BUDGET BUDGET ACTUAL BUDGET ACTUAL $$ VARIANCE % VARIANCE
TOTAL: 04-TRNS. FROM OTHER FUNDS 3,169,138 3,169,138 3,264,551 103.0 2,901,030 363,521 12.5
05-TAX LIENS/FORECLOSURES
10014 TAX LIENS/TAX TITLES 0 0 235,221 0.0 220,536 14,685 6.7
TOTAL: 05-TAX LIENS/FORECLOSURES 0 0 235,221 0.0 220,536 14,685 6.7
GRAND TOTAL 99,026,200 99,026,200 98,597,099 99.6 97,989,660 607,439 0.6
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TOWN OF CANTON
OPERATING EXPENSES BY VOTING CATEGORY
FUND 100 EXCLUDING ARTICLES
As of June 30 for Fiscal Years 2019 - 2020
FISCAL YEAR 2019
ORIGINAL REVISED EXPENDED YTD % OF TOTAL % OF REMAINING % OF REVISED EXPENDED % OF
BUDGET BUDGET THRU BUDGET EXPENDED & BUDGET BUDGET BUDGET BUDGET Y-T-D BUDGET
FY 20 FY20 June 30 FY 20 ENCUM. YTD FY 20 FY 20 FY 20
129 EXECUTIVE OFFICE 484,831 484,831 463,439 95.6 463,439 95.6 21,392 4.4 472,755 445,398 94.2
151 TOWN COUNSEL 297,778 308,756 257,488 83.4 313,054 101.4 (4,298) (1.4) 338,056 350,667 103.7
154 HUMAN RESOURCES DEPT 183,076 184,076 181,133 98.4 181,133 98.4 2,943 1.6 172,865 170,615 98.7
179 PLANNING DEPARTMENT 89,581 89,581 88,420 98.7 88,420 98.7 1,161 1.3 80,744 81,513 101.0
195 TOWN REPORTS 2,500 2,500 2,500 100.0 2,500 100.0 0 0.0 2,500 2,709 108.3
244 SEALER OF WEIGHTS & MEAS 7,500 7,500 7,500 100.0 7,500 100.0 0 0.0 7,500 7,500 100.0
910 EMPLOYEE CONTRACT BENEFIT 243,643 160,000 139,037 86.9 139,037 86.9 20,963 13.1 140,000 143,822 102.7
TOTAL 01-Executive Branch 1,308,909 1,237,244 1,139,518 92.1 1,195,084 96.6 42,160 3.4 1,214,420 1,202,224 99.0
133 DIRECTOR OF FINANCE 201,498 201,498 219,115 108.7 219,115 108.7 (17,617) (8.7) 195,881 195,810 100.0
135 ACCOUNTANT 235,579 238,221 222,252 93.3 222,252 93.3 15,969 6.7 218,385 225,785 103.4
145 TREASURER/TAX COLLECTOR 217,517 219,539 204,164 93.0 204,164 93.0 15,375 7.0 215,697 203,895 94.5
155 INFORMATION SYSTEMS 496,854 582,700 490,584 84.2 576,664 99.0 6,036 1.0 550,023 465,796 84.7
TOTAL 02-Finance Dept 1,151,448 1,241,958 1,136,115 91.5 1,222,195 98.4 19,763 1.6 1,179,986 1,091,286 92.5
176 ZONING BOARD 27,772 27,772 22,674 81.6 22,674 81.6 5,098 18.4 36,977 15,772 42.7
241 BUILDING DEPARTMENT 348,617 350,953 354,225 100.9 354,225 100.9 (3,272) (0.9) 352,268 330,743 93.9
TOTAL 03-Building & Zoning 376,389 378,725 376,898 99.5 376,898 99.5 1,827 0.5 389,245 346,515 89.0
215 911 DISPATCHERS - FIRE 241,113 241,113 241,113 100.0 241,113 100.0 0 0.0 225,000 234,090 104.0
220 FIRE DEPARTMENT 5,800,457 5,805,183 5,638,118 97.1 5,653,698 97.4 151,485 2.6 5,472,049 5,362,136 98.0
221 FIRE ALARMS, BOXES, ETC 22,975 22,975 15,508 67.5 15,508 67.5 7,467 32.5 22,975 15,726 68.4
231 AMBULANCE SERVICE 442,710 447,880 413,068 92.2 428,690 95.7 19,190 4.3 446,006 507,470 113.8
232 UNMANNED AMBULANCE 1,000 1,000 0 0.0 0 0.0 1,000 100.0 1,000 0 0.0
291 EMERGENCY MANAGEMENT 28,850 28,850 25,317 87.8 29,337 101.7 (487) (1.7) 28,538 28,253 99.0
TOTAL 06-Fire Dept 6,537,105 6,547,002 6,333,124 96.7 6,368,346 97.3 178,655 2.7 6,195,567 6,147,674 99.2
192 PUBLIC BLDGS/PROP MAINT 570,113 606,735 512,892 84.5 523,858 86.3 82,877 13.7 610,617 550,191 90.1
193 POLICE STATION MAINT. 0 0 0 0.0 0 0.0 0 0.0 0 0 0.0
194 PUBLIC SAFETY FACILITY 0 0 0 0.0 0 0.0 0 0.0 0 0 0.0
199 ARMANDO RECREATION FACILITY 0 0 0 0.0 0 0.0 0 0.0 0 0 0.0
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TOWN OF CANTON
OPERATING EXPENSES BY VOTING CATEGORY
FUND 100 EXCLUDING ARTICLES
As of June 30 for Fiscal Years 2019 - 2020
FISCAL YEAR 2019
ORIGINAL REVISED EXPENDED YTD % OF TOTAL % OF REMAINING % OF REVISED EXPENDED % OF
BUDGET BUDGET THRU BUDGET EXPENDED & BUDGET BUDGET BUDGET BUDGET Y-T-D BUDGET
FY 20 FY20 June 30 FY 20 ENCUM. YTD FY 20 FY 20 FY 20
400 PUBLIC WORKS ADMINISTRATI 360,817 363,357 252,998 69.6 253,248 69.7 110,109 30.3 340,746 253,345 74.4
410 ENGINEERING DEPARTMENT 246,025 251,642 225,978 89.8 228,405 90.8 23,237 9.2 238,177 234,939 98.6
420 HIGHWAY MAINTENANCE 1,029,674 1,103,578 1,201,442 108.9 1,208,519 109.5 (104,941) (9.5) 1,014,707 985,954 97.2
421 SIDEWALKS 0 0 0 0.0 0 0.0 0 0.0 0 0 0.0
425 STREET SIGNS & TRAFFIC 51,700 55,900 103,874 185.8 103,874 185.8 (47,974) (85.8) 55,278 69,531 125.8
426 GAS & OIL FUND 61,190 61,190 34,411 56.2 34,411 56.2 26,779 43.8 86,190 47,960 55.6
427 HIGHWAY EQUIPMENT MAINT 317,176 370,001 394,800 106.7 421,706 114.0 (51,705) (14.0) 323,568 386,965 119.6
491 CEMETERY MAINT 173,465 178,917 149,392 83.5 149,392 83.5 29,525 16.5 173,879 157,588 90.6
492 TREE DEPARTMENT 143,781 150,149 163,631 109.0 163,631 109.0 (13,482) (9.0) 168,015 130,301 77.6
493 TREE WARDEN & SHADE TREES 0 0 0 0.0 0 0.0 0 0.0 0 0 0.0
632 PEQUITSIDE FARM 30,000 30,000 24,471 81.6 24,471 81.6 5,529 18.4 31,891 24,917 78.1
TOTAL 07-Public Works 2,983,941 3,171,469 3,063,889 96.6 3,111,515 98.1 59,954 1.9 3,043,069 2,841,690 93.4
542 YOUTH SERVICES 5,000 5,000 1,402 28.0 1,402 28.0 3,598 72.0 5,000 2,577 51.5
630 PARKS & RECREATION 748,165 759,373 758,091 99.8 760,266 100.1 (893) (0.1) 728,909 727,969 99.9
650 PARKS DEPARTMENT 52,400 52,400 54,481 104.0 54,481 104.0 (2,081) (4.0) 50,000 0 0.0
TOTAL 08-Recreation & Playgr 805,565 816,773 813,973 99.7 816,148 99.9 624 0.1 783,909 730,546 93.2
210 POLICE DEPARTMENT 5,203,844 5,241,739 5,234,703 99.9 5,254,674 100.2 (12,935) (0.2) 5,043,790 5,018,047 99.5
292 ANIMAL CONTROL OFFICER 134,554 134,554 121,602 90.4 121,602 90.4 12,953 9.6 131,944 120,527 91.3
TOTAL 09-Police & Animal Ctrl 5,338,398 5,376,293 5,356,305 99.6 5,376,275 100.0 18 0.0 5,175,734 5,138,574 99.3
131 FINANCE COMMITTEE 11,500 11,500 10,073 87.6 10,073 87.6 1,427 12.4 12,500 12,368 98.9
149 WATER/SEWER RATE POLICY 0 0 0 0.0 0 0.0 0 0.0 0 0 0.0
182 CAPITAL OUTLAY & PLANNING 2,556 2,556 233 9.1 233 9.1 2,323 90.9 2,556 144 5.6
184 BUILDINGS RENOVATIONS COM 3,200 3,200 0 0.0 0 0.0 3,200 100.0 3,200 0 0.0
545 SUBSTANCE ABUSE COMMITTEE 10,000 10,000 1,261 12.6 1,261 12.6 8,739 87.4 10,000 4,347 43.5
546 WALK,BIKE & HIKE COMMITTEE 1,000 1,000 0 0.0 0 0.0 1,000 100.0 1,000 0 0.0
547 DISABILITY COMMISSION 900 900 0 0.0 0 0.0 900 100.0 900 0 0.0
691 HISTORICAL COMMISSION 3,669 3,669 600 16.4 600 16.4 3,069 83.6 3,669 1,886 51.4
692 BEAUTIFICATION COMMITTEE 1,378 1,378 0 0.0 0 0.0 1,378 100.0 1,378 0 0.0
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TOWN OF CANTON
OPERATING EXPENSES BY VOTING CATEGORY
FUND 100 EXCLUDING ARTICLES
As of June 30 for Fiscal Years 2019 - 2020
FISCAL YEAR 2019
ORIGINAL REVISED EXPENDED YTD % OF TOTAL % OF REMAINING % OF REVISED EXPENDED % OF
BUDGET BUDGET THRU BUDGET EXPENDED & BUDGET BUDGET BUDGET BUDGET Y-T-D BUDGET
FY 20 FY20 June 30 FY 20 ENCUM. YTD FY 20 FY 20 FY 20
TOTAL 10-Committees & Commissions 34,203 34,203 12,167 35.6 12,167 35.6 22,036 64.4 35,203 18,746 53.3
161 TOWN CLERK 214,886 215,891 212,193 98.3 212,193 98.3 3,698 1.7 207,021 204,689 98.9
163 ELECTIONS & REGISTRAR'S 56,475 56,475 47,154 83.5 47,207 83.6 9,268 16.4 69,175 71,195 102.9
TOTAL 11-Town Clerk & Elected 271,361 272,366 259,347 95.2 259,399 95.2 12,967 4.8 276,196 275,884 99.9
141 ASSESSORS 371,857 487,847 301,378 61.8 466,878 95.7 20,969 4.3 417,620 304,571 72.9
171 CONSERVATION COMMISSION 136,001 147,619 133,640 90.5 138,680 93.9 8,939 6.1 144,333 122,732 85.0
175 PLANNING BOARD 67,628 70,898 59,393 83.8 59,393 83.8 11,505 16.2 68,941 60,800 88.2
198 UNPAID BILLS 0 7,450 7,450 100.0 7,450 100.0 0 0.0 4,840 4,840 100.0
510 HEALTH DEPARTMENT 380,400 380,400 327,476 86.1 345,591 90.8 34,809 9.2 368,932 350,062 94.9
541 COUNCIL ON AGING 405,628 416,442 396,739 95.3 397,957 95.6 18,485 4.4 398,479 383,690 96.3
543 VETERANS SERVICES DEPARTMENT 288,790 288,790 234,900 81.3 234,900 81.3 53,890 18.7 295,231 243,682 82.5
544 PAUL REVERE HERITAGE COMM 1,000 1,000 2,179 217.9 2,179 217.9 (1,179) (117.9) 0 0 0.0
610 LIBRARY 1,318,501 1,338,762 1,325,384 99.0 1,325,384 99.0 13,378 1.0 1,319,105 1,304,022 98.9
TOTAL 12-Stand Alone 2,969,805 3,139,208 2,788,541 88.8 2,978,414 94.9 160,794 5.1 3,017,480 2,774,398 91.9
TOTAL 01-MUNICIPAL 21,777,124 22,215,240 21,279,878 95.8 21,716,443 97.8 498,797 2.2 21,310,810 20,567,535 96.5
710 PRINCIPAL PAYMENTS 3,695,515 3,695,515 3,620,028 98.0 3,620,028 98.0 75,487 2.0 3,757,421 3,712,421 98.8
751 LONG-TERM INTEREST PAYMENTS 707,618 707,618 816,229 115.3 901,354 127.4 (193,736) (27.4) 769,717 870,091 113.0
752 SHORT-TERM INTEREST PAYMENTS 152,000 152,000 33,750 22.2 33,750 22.2 118,250 77.8 112,000 (24,851) (22.2)
TOTAL 12-Debt Service 4,555,133 4,555,133 4,470,007 98.1 4,555,132 100.0 1 0.0 4,639,138 4,557,661 98.2
132 RESERVE FUND 700,000 700,000 0 0.0 0 0.0 700,000 100.0 216,000 0 0.0
422 STREET LIGHTING 91,000 93,982 62,632 66.6 62,632 66.6 31,350 33.4 95,966 86,783 90.4
423 SNOW & ICE REMOVAL 650,500 650,500 405,906 62.4 405,906 62.4 244,594 37.6 714,500 714,458 100.0
433 TRASH COLLECTION 2,010,000 2,056,801 2,024,995 98.5 2,056,801 100.0 0 0.0 2,008,894 1,952,943 97.2
840 BLUE HILLS REGIONAL 1,448,406 1,448,406 1,447,694 100.0 1,447,694 100.0 712 0.0 1,214,066 1,207,788 99.5
841 NORFOLK COUNTY AGRICULTR HS 20,000 20,000 19,460 97.3 19,460 97.3 540 2.7 20,000 13,755 68.8
911 RETIREMENT BENEFITS 5,638,751 5,638,751 5,638,718 100.0 5,638,718 100.0 33 0.0 5,249,494 5,249,461 100.0
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TOWN OF CANTON
OPERATING EXPENSES BY VOTING CATEGORY
FUND 100 EXCLUDING ARTICLES
As of June 30 for Fiscal Years 2019 - 2020
FISCAL YEAR 2019
ORIGINAL REVISED EXPENDED YTD % OF TOTAL % OF REMAINING % OF REVISED EXPENDED % OF
BUDGET BUDGET THRU BUDGET EXPENDED & BUDGET BUDGET BUDGET BUDGET Y-T-D BUDGET
FY 20 FY20 June 30 FY 20 ENCUM. YTD FY 20 FY 20 FY 20
913 UNEMPLOYMENT COMPENSATION 100,000 100,000 100,000 100.0 100,000 100.0 0 0.0 100,000 100,000 100.0
914 EMPLOYER SHARE-HEALTH INS 12,448,089 12,456,739 12,452,037 100.0 12,456,362 100.0 377 0.0 12,469,658 12,419,882 99.6
915 EMPLOYER SHARE-LIFE INS 62,250 62,250 59,181 95.1 59,181 95.1 3,069 4.9 62,250 60,202 96.7
946 TOWN INSURANCE 1,212,368 1,209,807 1,133,058 93.7 1,148,058 94.9 61,749 5.1 1,209,715 1,137,649 94.0
990 TRANSFERS 0 0 94,885 0.0 94,885 0.0 (94,885) 0.0 15,918 15,918 100.0
993 OPEB TRANSFER 1,030,000 1,030,000 1,030,000 100.0 1,030,000 100.0 0 0.0 800,000 800,000 100.0
TOTAL 15-Misc. Fixed 25,411,364 25,467,235 24,468,565 96.1 24,519,695 96.3 947,540 3.7 24,176,461 23,758,840 98.3
TOTAL 02-FIXED EXPENSES 29,966,497 30,022,368 28,938,572 96.4 29,074,828 96.8 947,540 3.2 28,815,599 28,316,500 98.3
300 SCHOOL DEPARTMENT 44,114,362 46,971,758 44,011,807 93.7 46,913,230 99.9 58,528 0.1 45,189,344 42,327,059 93.7
TOTAL 17-School Admin 44,114,362 46,971,758 44,011,807 93.7 46,913,230 99.9 58,528 0.1 45,189,344 42,327,059 93.7
TOTAL 03-SCHOOL 44,114,362 46,971,758 44,011,807 93.7 46,913,230 99.9 58,528 0.1 45,189,344 42,327,059 93.7
820 CHERRY SHEET ASSESSMENTS 1,016,088 1,016,088 969,533 95.4 969,533 95.4 46,555 4.6 1,016,487 1,016,466 100.0
830 COUNTY TAX-CHERRY SHEET 217,129 217,129 217,129 100.0 217,129 100.0 0 0.0 214,234 214,234 100.0
TOTAL 19-State & County Chgs 1,233,217 1,233,217 1,186,662 96.2 1,186,662 96.2 46,555 3.8 1,230,721 1,230,700 100.0
TOTAL 05-STATE & COUNTY CHGS 1,233,217 1,233,217 1,186,662 96.2 1,186,662 96.2 46,555 3.8 1,230,721 1,230,700 100.0
GRAND TOTALS : 97,091,200 100,442,583 95,416,919 95.0 98,891,163 98.5 1,551,420 1.5 96,546,475 92,441,795 95.7
\\usrdsks\desktop\kbutters\Desktop\Canton Expense Report FY20.rpt Page 4 of 4 Date: 9/16/2020Source page 11
TOWN OF CANTON, MASSACHUSETTS
Combined Balance Sheet - All Fund Types and Account Groups
as of June 30, 2020 (Unaudited)
Fiduciary Account
Governmental Fund Types Proprietary Fund Types Fund Types Groups Totals
General Special Capital Enterprise Internal Trust and Long-term (Memorandum
Fund Revenue Projects Funds Services Agency Debt Only)
ASSETS
Cash and cash equivalents 17,814,163.95 10,437,071.81 4,637,269.16 4,851,629.02 7,888,476.96 18,649,927.89 - 64,278,538.79
Receivables:
Personal property taxes 73,483.00 - - - - - - 73,483.00
Real estate taxes 1,393,004.94 - - - - - - 1,393,004.94
Allowance for abatements and exemptions (3,362,982.34) - - - - - - (3,362,982.34)
Special assessments - - - 78,320.36 - - - 78,320.36
Tax liens 641,392.47 18,277.84 - 18,159.17 - - - 677,829.48
Tax foreclosures 523,968.40 - - - - - - 523,968.40
Motor vehicle excise 1,037,157.82 - - - - - - 1,037,157.82
Utility Charges - - - 833,852.27 - - - 833,852.27
Departmental - 1,169,305.54 - - - - - 1,169,305.54
Due from other governments 524,852.00 - 2,000,000.00 - - - - 2,524,852.00
Prepaids 115,914.93 - - - 959,019.57 - - 1,074,934.50
Amounts to be provided - payment of bonds - 1,663,000.00 1,907,000.00 21,032,709.00 - - 27,366,306.83 51,969,015.83
Total Assets 18,760,955.17 13,287,655.19 8,544,269.16 26,814,669.82 8,847,496.53 18,649,927.89 27,366,306.83 122,271,280.59
LIABILITIES AND FUND EQUITY
Liabilities:
Deferred revenue
Real and personal property taxes (1,896,494.40) - - - - - - (1,896,494.40)
Special assessments - - - 78,320.36 - - - 78,320.36
Tax liens 641,392.47 18,277.84 - 18,159.17 - - - 677,829.48
Tax foreclosures 523,968.40 - - - - - - 523,968.40
Motor vehicle excise 1,037,157.82 - - - - - - 1,037,157.82
Utility Charges - - - 833,852.27 - - - 833,852.27
Departmental - 1,169,305.54 - - - - - 1,169,305.54
Due from other governments 524,852.00 - 2,000,000.00 - - - - 2,524,852.00
Accounts payable 1,403,486.64 231,299.03 1,057,581.00 89,910.56 234,541.97 83,092.08 - 3,099,911.28
Accrued payroll and withholdings 782,551.57 68,879.29 - 46,913.01 21,881.51 3,701.70 - 923,927.08
Other liabilities 45,061.91 325.00 - 10,596.82 - 986,243.49 - 1,042,227.22
IBNR - - - - 544,440.00 - - 544,440.00
Bonds payable - 1,663,000.00 1,907,000.00 21,032,709.00 - - 27,366,306.83 51,969,015.83
Notes payable - - - - - - - -
Total Liabilities 3,061,976.41 3,151,086.70 4,964,581.00 22,110,461.19 800,863.48 1,073,037.27 27,366,306.83 62,528,312.88
Fund Equity:
Reserved for encumbrances 2,823,438.85 - - 699,335.15 - - - 3,522,774.00
Reserved for expenditures 751,630.00 - - 96,200.00 - - - 847,830.00
Reserved for continuing appropriations 1,751,347.97 - 3,579,688.16 - - - - 5,331,036.13
Reserved for petty cash 200.00 - - 50.00 - - - 250.00
Reserved fund balance - - - 61,800.00 - - 61,800.00
Undesignated fund balance 10,372,361.94 10,136,568.49 - - 7,984,833.05 17,576,890.62 - 46,070,654.10
Unreserved retained earnings - - - 3,908,623.48 - - - 3,908,623.48
Total Fund Equity 15,698,978.76 10,136,568.49 3,579,688.16 4,704,208.63 8,046,633.05 17,576,890.62 - 59,742,967.71
Total Liabilities and Fund Equity 18,760,955.17 13,287,655.19 8,544,269.16 26,814,669.82 8,847,496.53 18,649,927.89 27,366,306.83 122,271,280.59
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FY 20 balance sheets.xlsx Combined Balance Sheet 9/20/2020