Canton, Massachusetts · Saved source text
Final Offical Statement dated January 23, 2023
Saved text from 211 source pages. Transcription and OCR may contain errors; verify figures and wording against the original. Retrieved 2026-10-15.
Source page 41
LARGEST TAXPAYERS
The following shows the ten largest taxpayers for fiscal 2022 (1):
Fiscal 2022 % of Total
Nature of Assessed Amount Tax
Name Business Valuation of Tax Levy
Eversource Utility $107,222,780 $ 2,592,647 3.0%
Tufts Associated Health* Offices 78,699,400 1,600,000 1.8
BAC Canton Holdings LLC Offices 58,790,500 1,421,554 1.6
Medical Information Tech, Inc. Offices 50,900.000 1,230,762 1.4
Boston Mutual Bldg Rlty Trust Offices 38,794,750 938,057 1.1
OCW Retail Canton LLC Retail 37,371,700 903,648 1.0
Brightview Canton LLC Senior Assisted Living 31,339,700 757,794 0.9
BREIT MF Blue Hills LLC Apartments 61,410,000 697,004 0.8
Simons Waterfall LLC Apartments 43,779,500 496,897 0.6
BOS Apt 2 LLC Apartments 41,611,500 472,291 0.5
Woodfield Properties Apartments 33,033,200 374,927 0.4
Total $532,103,930 $11,485,581 13.1%
___________________
(1) All of the largest taxpayers set forth above are current on their real estate and personal property taxes.
* Exempt from property tax in fiscal 2022 subject to a $1.6 million PILOT in fiscal 2022.
TAX LEVIES
Levy - General. The principal tax of Massachusetts cities and towns is the tax on real and personal property. The amount
to be levied in each year is the amount appropriated or required by law to be raised for municipal expenditures less estimated
receipts from other sources and less appropriations voted from funds on hand. The total amount levied is subject to certain
limits prescribed by law; for a description of those limits see “Tax Limitations” herein. As to the inclusion of debt service
and final judgments, see “Security and Remedies” herein.
The estimated receipts for a fiscal year from sources other than the property tax may not exceed the actual receipts during
the preceding fiscal year from the same sources unless approved by the State Commissioner of Revenue. Excepting special
funds the use of which is otherwise provided for by law, the deduction for appropriations voted from funds on hand for a
fiscal year cannot exceed the “free cash” as of the beginning of the prior fiscal year as certified by the State Director of
Accounts plus up to nine months' collections and receipts on account of earlier years' taxes after that date. Subject to certain
adjustments, free cash is surplus revenue less uncollected overdue property taxes from earlier years.
Although an allowance is made in the tax levy for abatements (see “Abatements and Overlay” herein) no reserve is generally
provided for uncollectible real property taxes. Since some of the levy is inevitably not collected, this creates a cash
deficiency which may or may not be offset by other items (see “Taxation to Meet Deficits” herein).
Taxation to Meet Deficits. As noted elsewhere (see “Abatements and Overlay” herein) overlay deficits, i.e. tax abatements
in excess of the overlay included in the tax levy to cover abatements, are required to be added to the next tax levy. It is
generally understood that revenue deficits, i.e. those resulting from non-property tax revenues being less than anticipated,
are also required to be added to the tax levy (at least to the extent not covered by surplus revenue).
Amounts lawfully expended since the prior tax levy and not included therein are also required to be included in the annual
tax levy. The circumstances under which this can arise are limited since municipal departments are generally prohibited
from incurring liabilities in excess of appropriations except for major disasters, mandated items, contracts in aid of housing
and renewal projects and other long-term contracts. In addition, utilities must be paid at established rates and certain
established salaries, e.g. civil service, must legally be paid for work actually performed, whether or not covered by
appropriations.
25Source page 42
In the opinion of Bond Counsel, cities and towns are authorized to appropriate sums, and thus to levy taxes, to cover deficits
arising from other causes, such as “free cash” deficits arising from a failure to collect taxes. This is not generally understood,
however, and it has not been the practice to levy taxes to cover free cash deficits. Except to the extent that such deficits
have been reduced or eliminated by subsequent collections of uncollected taxes (including sales of tax titles and tax
possessions), lapsed appropriations, non-property tax revenues in excess of estimates, other miscellaneous items or funding
loans authorized by special act, they remain in existence.
Tax Limitations. Chapter 59, Section 21C of the General Laws, also known as Proposition 2 ½, imposes two separate
limits on the annual tax levy of a city or town.
The primary limitation is that the tax levy cannot exceed 2 1/2 percent of the full and fair cash value. If a city or town
exceeds the primary limitation, it must reduce its tax levy by at least 15 percent annually until it is in compliance, provided
that the reduction can be reduced in any year to not less than 7 1/2 percent by majority vote of the voters, or to less than 7
1/2 percent by two-thirds vote of the voters.
For cities and towns at or below the primary limit, a secondary limitation is that the tax levy cannot exceed the maximum
levy limit for the preceding fiscal year as determined by the State Commissioner of Revenue by more than 2 1/2 percent
subject to exceptions for property added to the tax rolls or property which has had an increase, other than as part of a general
revaluation in its assessed valuation over the prior year's valuation.
This “growth” limit on the tax levy may be exceeded in any year by a majority vote of the voters, but an increase in the secondary
or growth limit under this procedure does not permit a tax levy in excess of the primary limitation, since the two limitations
apply independently. In addition, if the voters vote to approve taxes in excess of the “growth” limit for the purpose of funding
a stabilization fund, such increased amount may only be taken into account for purposes of calculating the maximum levy limit
in each subsequent year if the board of selectmen of a town or the city council of a city votes by a two-thirds vote to appropriate
such increased amount in such subsequent year to the stabilization fund. The applicable tax limits may also be reduced in any
year by a majority of the voters.
The State Commissioner of Revenue may adjust any tax limit “to counterbalance the effects of extraordinary, non-recurring
events which occurred during the base year”.
The statute further provides that the voters may exclude from the taxes subject to the tax limits and from the calculations of
the maximum tax levy (a) the amount required to pay debt service on bonds and notes issued before November 4, 1980, if
the exclusion is approved by a majority vote of the voters, and (b) the amount required to pay debt service on any specific
subsequent issue for which similar approval is obtained. Even with voter approval, the holders of the obligations for which
unlimited taxes may be assessed do not have a statutory priority or security interest in the portion of the tax levy attributable
to such obligations. As noted above, debt service on $80,000 principal amount of the Bonds (which amount is subject
to change as described in the Official Notice of Sale prepared in connection with the Bonds) and $11,457,500 of currently
outstanding bonds, is excluded from the limitations of Proposition 2½, subject to the provisions of Chapter 44,
Section 20 of the General Laws. It should be noted that Massachusetts General Laws Chapter 44, Section 20 requires that
the taxes excluded from the levy limit to pay debt service on any such bonds and notes be calculated based on the true
interest cost of the issue. Accordingly, the Department of Revenue limits the amount of taxes which may be levied in each
year to pay debt service on any such bonds and notes to the amount of such debt service, less a pro rata portion of any
original issue premium received by the city or town that was not applied to pay costs of issuance.
Voters may also exclude from the Proposition 2 ½ limits the amount required to pay specified capital outlay expenditures
or for the city or town’s apportioned share for certain capital outlay expenditures by a regional governmental unit. In
addition, the city council of a city, with the approval of the Mayor if required, or the board of selectmen or the town council
of a town may vote to exclude from the Proposition 2 ½ limits taxes raised in lieu of sewer or water charges to pay debt
service on bonds or notes issued by the municipality (or by an independent authority, commission or district) for water or
sewer purposes, provided that the municipality's sewer or water charges are reduced accordingly.
26Source page 43
In addition, Proposition 2 ½ limits the annual increase in the total assessments on cities and towns by any county, district,
authority, the Commonwealth or any other governmental entity (except regional school districts, the MWRA and certain
districts for which special legislation provides otherwise) to the sum of (a) 2 ½ percent of the prior year's assessments and
(b) “any increases in costs, charges or fees for services customarily provided locally or for services subscribed to at local
option”. Regional water districts, regional sewerage districts and regional veteran's district may exceed these limitations
under statutory procedures requiring a two-thirds vote of the district's governing body and either approval of the local
appropriating authorities (by two-thirds vote in districts with more than two members or by majority vote in two-member
districts) or approval of the registered voters in a local election (in the case of two-member districts). Under Proposition
2 ½ any State law to take effect on or after January 1, 1981 imposing a direct service or cost obligation on a city or town
will become effective only if accepted or voluntarily funded by the city or town or if State funding is provided. Similarly,
State rules or regulations imposing additional costs on a city or town or laws granting or increasing local tax exemptions
are to take effect only if adequate State appropriations are provided. These statutory provisions do not apply to costs
resulting from judicial decisions.
Pledged Taxes. Taxes on certain property in designated development districts may be pledged for the payment of costs of
economic development projects within such districts and may therefore be unavailable for other municipal purposes. The Town
does not have any such districts.
Initiative Petitions. Various other proposals have been made in recent years for legislative amendments to the
Massachusetts Constitution to impose limits on state and local taxes. To be adopted such amendments must be approved
by two successive legislatures and then by the voters at a state election.
CALCULATION OF TAX LEVIES AND LEVY LIMITS
The following table shows the details of the calculation of the tax levies for the current and most recent fiscal years:
For Fiscal Year (000)
2023 2022 2021 2020 2019
Gross Amount to be Raised:
Appropriations $131,243 $123,434 $118,309 $119,601 $112,396
Other Local Expenditures 50 42 32 125 44
State & County Charges 1,511 1,502 1,229 1,219 1,183
Overlay Reserve 956 1,996 1,490 987 984
Total Gross Amount to be Raised $133,760 $126,974 $121,059 $121,932 $114,606
Less Estimated Receipts & Other Revenue:
Estimated Receipts from State 10,798 9,398 9,638 9,409 9,180
Estimated Receipts - Local 26,332 25,333 22,325 23,360 22,003
Available Funds Appropriated:
Free Cash 2,985 2,175 729 2,159 3,257
Revenue Sharing 0 0 0 0 0
Other Available Funds 2,435 2,439 3,425 6,838 2,728
Free Cash & Other Revenue Used
to Reduce the Tax Rate 0 0 0 0 0
Total Estimated Receipts & Revenue 42,550 39,345 36,117 41,765 37,168
Net Amount to be Raised (Tax Levy) $ 91,210 $ 87,628 $ 84,942 $ 80,167 $ 77,438
27Source page 44
The following shows the calculation of levy limits for the current and most recent fiscal years (1):
For Fiscal Year (000)
2023 2022 2021 2020 2019
Primary Levy Limit (2) $172,323 $153,119 $139,875 $130,904 $124,727
Prior Fiscal Year Levy Limit 87,874 83,421 79,874 76,233 73,481
2.5% Levy Growth 2,197 2,086 1,997 1,906 1,837
New Growth (3) 1,293 2,368 1,550 1,735 915
Overrides 0 0 0 0 0
Growth Levy Limit 91,364 87,874 83,421 79,874 76,233
Debt Exclusions 1,483 1,482 1,586 1,206 1,322
Capital Expenditure Exclusions 0 0 0 0 0
Other Adjustments 0 0 0 0 0
Tax Levy Limit 92,847 89,356 85,007 81,080 77,556
Tax Levy 91,210 87,628 84,942 80,167 77,438
Unused Levy Capacity (4) 1,636 1,728 65 913 117
Unused Primary Levy Capacity (5) $ 80,959 $ 65,245 $ 56,454 $ 51,030 $ 48,493
_________________________
(1) Source: Massachusetts Department of Revenue.
(2) 2.5% of assessed valuation.
(3) Allowed increase for new valuations (or required reduction) - certified by the Department of Revenue.
(4) Tax Levy Limit less Tax Levy.
(5) Primary Levy Limit less Growth Levy Limit.
TAX COLLECTIONS AND ABATEMENTS
Payment Dates. The taxes for each fiscal year generally are due in two installments on November 1 (subject to deferral if
tax bills are sent out late) and May 1, unless a city or town accepts a statute providing for quarterly tax payments. The
Town has accepted this provision. Under the statute, preliminary tax payments are to be due on August 1 and November 1
with payment of the actual tax bill (after credit is given for the preliminary payments) in installments on February 1 and
May 1 if actual tax bills are mailed by December 31. Interest accrues on delinquent taxes at the rate of 14 percent per
annum.
Lien. Real property (land and buildings) is subject to a lien for the taxes assessed upon it, subject to any paramount federal
lien and subject to bankruptcy and insolvency laws. (In addition, real property is subject to a lien for certain unpaid
municipal charges or fees.) If the property has been transferred, an unenforced lien expires on the fourth December 31 after
the end of the fiscal year to which the tax relates. If the property has not been transferred by the fourth December 31, an
unenforced lien expires upon a later transfer of the property. Provision is made, however, for continuation of the lien where
it could not be enforced because of a legal impediment.
Personal Liability. The persons against whom real or personal property taxes are assessed are personally liable for the tax
(subject to bankruptcy and insolvency laws). In the case of real property, this personal liability is effectively extinguished
by sale or taking of the property as described in “Taking and Sale” herein.
28Source page 45
The following shows the total tax levy, the reserve for abatements, the net levy and the amounts collected during each fiscal
year and as of a more recent date for the most recent fiscal years:
For Fiscal Year
2023 2022 2021 2020 2019
Total Tax Levy $91,210,271 $87,628,310 $84,941,942 $80,166,862 $77,438,400
Overlay Reserve for Abatements 955,749 1,996,039 1,490,022 987,085 983,745
Net Tax Levy (1) $90,254,522 $85,632,271 $83,451,920 $79,179,777 $76,454,654
Amount Collected During
Fiscal Year Payable (2) N/A $86,417,107 $83,773,978 $77,780,712 $76,374,966
Percent of Net Tax Levy N/A 100.9% 99.11% 98.2% 99.9%
Amount Collected Through
12/1/2022 (2) $44,456,636 $86,783,670 $84,273,009 $78,802,059 $76,147,929
Percent of Net Tax Levy 49.26% 101.3% 100.9% 99.5% 99.6%
___________________
(1) Net after deduction of overlay reserve for abatements.
(2) Actual collections of levy less refunds and amounts refundable, but including proceeds of tax titles and tax possessions attributed
to such levy but not including abatements or other credits.
Abatements and Overlay. A city or town is authorized to increase each tax levy by an amount approved by the State
Commissioner of Revenue as an “overlay” to provide for tax abatements. If abatements are granted in excess of the
applicable overlay, the excess is required to be added to the next tax levy.
Abatements are granted where exempt real or personal property has been assessed or where taxable real or personal property
has been overvalued or disproportionately valued. The assessors may also abate uncollectible personal property taxes. They
may abate real and personal property taxes on broad grounds (including inability to pay) with the approval of the State
Commissioner of Revenue. But uncollected real property taxes are ordinarily not written off until they become municipal
“tax titles” by purchase at the public sale or by taking, at which time the tax is written off in full by reserving the amount of
the tax and charging surplus.
The following shows the abatements granted during each fiscal year as well as through a more recent date for the most
recent fiscal years:
For Fiscal Year
2023 2022 2021 2020 2019
Tax Levy $91,210,271 $87,628,310 $84,941,942 $80,166,862 $77,438,400
Overlay Reserve for Abatements $955,749 $1,996,039 $1,490,022 $987,085 $983,746
Percent of Tax Levy 1.0% 2.3% 1.8% 1.2% 1.3%
Abatements Granted
During Fiscal Year of Levy N/A $266,471 $411,428 $1,009,256 $600,538
Through 12/1/2022 N/A $383,307 $411,428 $1,053,863 $1,120,009
Taking and Sale. Massachusetts law permits a municipality either to sell by public sale (at which the municipality may
become the purchaser) or to take real property for nonpayment of taxes. In either case the property owner can redeem the
property by paying the unpaid taxes, with interest and other charges, but if the right of redemption is not exercised within
six months (which may be extended an additional year in the case of certain installment payments), it can be foreclosed by
petition to the Land Court. Upon foreclosure, a tax title purchased or taken by the municipality becomes a “tax possession”
and may be held and disposed of in the same manner as other land held for municipal purposes.
Sale of Tax Receivables. Cities and towns are authorized to sell delinquent property tax receivables by public sale or
auction, either individually or in bulk.
29Source page 46
TOWN FINANCES
Budget and Appropriation Process
The annual appropriations of the Town are ordinarily made at the annual meeting which takes place in May. Appropriations
may also be voted at special meetings. The Finance Committee (or the Board of Selectmen if authorized by by-law or if
there is no committee) is required to submit a budget of proposed expenditures at the annual Town meeting.
Under certain circumstances and subject to certain limits and requirements, the city council of a city, upon the recommendation
of the mayor, may transfer amounts appropriated for the use of one department (except for a municipal light department or a
school department) to another appropriation for the same department or for the use of any other department. In a town, town
meeting may at any time vote to transfer any amount previously appropriated to any other authorized use by law, and, under
certain circumstances and subject to certain limits and requirements, the selectmen of a town, with the concurrence of the finance
committee, may transfer amounts appropriated for the use of any department to any other appropriation for the same department
or to any other department.
Water and sewer department expenditures are generally included in the budgets adopted by city councils and town meetings
but electric and gas department funds may be appropriated by the municipal light boards. Under certain legislation any city
or town which accepts the legislation may provide that the appropriation for the operating costs of any department may be
offset, in whole or in part, by estimated receipts from fees charged for services provided by the department. It is assumed
that this general provision does not alter the pre-existing power of an electric or gas department to appropriate its own
receipts.
The school budget is limited to the total amount appropriated by the town meeting, but the school committee retains full
power to allocate the funds appropriated. State legislation known as the Education Reform Act of 1993, as amended, imposes
certain minimum expenditure requirements on municipalities with respect to funding for education. The requirements are
determined on the basis of formulas affected by various measures of wealth and income, enrollments, prior levels of local
spending and state aid, and other factors. The Town’s net school spending has always exceeded the minimum required local
contribution.
State and county assessments, abatements in excess of overlays, principal and interest not otherwise provided for, and final
judgments are included in the tax levy whether or not included in the budget. Revenues are not required to be set forth in
the budget, but estimated non-tax revenues are taken into account by the assessors in fixing the tax levy.
30Source page 47
Budget Comparison
The following table sets forth the actual budgets for fiscal years 2023-2019:
Category 2023 2022 2021 2020 2019
Property Taxes $ 90,361,116 $ 85,687,763 $ 83,137,806 $ 79,110,045 $76,420,611
State Aid 10,697,742 9,328,290 9,722,010 9,368,213 9,073,243
Local Receipts 8,800,000 8,800,000 7,437,043 7,378,804 6,772,736
Interfund Transfers 5,848,617 6,033,429 3,093,236 4,364,138 5,280,374
Total Available Revenue $115,707,475 $109,849,482 $103,390,095 $100,221,200 $97,546,964
Appropriations
General Government Services $ 5,938,926 $ 5,056,847 $ 4,357,672 $ 4,471,316 $ 3,991,167
Public Safety Services 13,307,673 12,672,829 12,403,746 12,251,892 11,521,775
Educational Services 50,658,405 47,792,662 46,186,271 44,114,362 42,396,405
Public Works Service 2,656,168 2,556,408 2,453,240 2,383,828 2,339,283
Public Works Fixed Services 3,173,000 3,173,000 2,831,500 2,751,500 2,646,619
Human Services 1,217,807 1,113,410 1,115,239 1,074,818 1,064,869
Cultural/Recreational Services 2,621,005 2,568,963 2,401,571 2,260,067 2,108,854
Debt Service 4,735,405 4,612,117 4,808,116 4,555,133 4,639,138
Regional Schools 1,653,337 1,492,906 1,497,309 1,468,406 1,234,066
State and County Charges 1,568,333 1,428,426 1,402,515 1,233,217 1,070,314
Employee Benefits 21,290,260 20,819,975 20,006,148 19,279,090 18,358,856
Miscellaneous 2,000,156 1,713,521 1,963,338 1,242,571 2,021,618
Subtotal 110,820,475 105,001,064 101,426,665 97,086,200 93,392,964
Capital/Articles 4,887,000 4,848,418 1,963,429 3,135,000 4,154,000
Total Appropriations $115,707,475 $109,849,482 $103,390,095 $100,221,200 $97,546,964
STATE AID
In addition to grants for specified capital purposes (some of which are payable over the life of the bonds issued for the
projects) the Commonwealth provides financial assistance to cities and towns for current purposes. Payments to cities and
towns are derived primarily from a percentage of the State's personal income, sales and use and corporate excise tax receipts,
together with the net receipts from the State Lottery. A municipality’s state aid entitlement is based on a number of different
formulas, of which the “schools” and “lottery” formulas are the most important. Both of the major formulas tend to provide
more state aid to poorer communities. The formulas for determining a municipality’s state aid entitlement are subject to
amendment by the state legislature and, while a formula might indicate that a particular amount of state aid is owed, the amount
of state aid actually paid is limited to the amount appropriated by the state legislature. The State annually estimates state aid,
but the actual state aid payments may vary from the estimate.
The following table sets forth the amount of state aid to the Town in recent years as well as the amount budgeted for 2023:
Fiscal Total
Year State Aid (1)
2023 (budgeted) $27,200,000
2022 25,579,266
2021 26,716,813
2020 25,906,811
2019 22,613,720
2018 23,294,033
___________________
(1) Includes all funds, not just General Funds.
31Source page 48
State School Building Assistance Program
Under its school building assistance program, the Commonwealth of Massachusetts provides grants to cities, towns and
regional school districts for school construction projects. Until July 26, 2004, the State Board of Education was responsible
for approving grants for school projects and otherwise administering the program. Grant amounts ranged from 50% to 90%
of approved project costs. Municipalities generally issued bonds to finance the entire project cost, and the Commonwealth
disbursed the grants in equal annual installments over the term of the related bonds.
Pursuant to legislation which became effective on July 26, 2004, the state legislature created the Massachusetts School
Building Authority (the “Authority”) to finance and administer the school building assistance program. The Authority has
assumed all powers and obligations of the Board of Education with respect to the program. In addition to certain other
amounts, the legislation dedicates a portion of Commonwealth sales tax receipts to the Authority to finance the program.
Projects previously approved for grants by the State Board of Education are entitled to receive grant payments from the
Authority based on the approved project cost and reimbursement rate applicable under the prior law. The Authority has
paid and is expected to continue to pay the remaining amounts of the grants for such projects either in annual installments
to reimburse debt service on bonds issued by the municipalities to finance such projects, or as lump sum payments to
contribute to the defeasance of such bonds.
Projects on the priority waiting list as of July 1, 2004 are also entitled to receive grant payments from the Authority based
on the eligible project costs and reimbursement rates applicable under the prior law. With limited exceptions, the Authority
is required to fund the grants for such projects in the order in which they appear on the waiting list. Grants for any such
projects that have been completed or substantially completed have been paid and are expected to continue to be paid by the
Authority in lump sum payments, thereby eliminating the need for the Authority to reimburse interest expenses that would
otherwise be incurred by the municipalities to permanently finance the Authority’s share of such project costs. Interest on
debt issued by municipalities prior to July 1, 2004 to finance such project costs, and interest on temporary debt until receipt
of the grant, is included in the approved costs of such projects. Grants for any such projects that have not yet commenced
or that are underway have been and are expected to continue to be paid by the Authority as project costs are incurred by the
municipality pursuant to a project funding agreement between the Authority and the municipality, eliminating the need for
the municipality to borrow even on a temporary basis to finance the Authority’s share of the project costs in most cases.
The range of reimbursement rates for new project grant applications submitted to the Authority on or after July 1, 2007 has
been reduced to between 40% and 80% of approved project costs. The Authority promulgated new regulations with respect
to the application and approval process for projects submitted after July 1, 2007. The Authority expects to pay grants for
such projects as project costs are incurred pursuant to project funding agreements between the Authority and the
municipalities. None of the interest expense incurred on debt issued by municipalities to finance their portion of the costs
of new projects will be included in the approved project costs eligible for reimbursement.
The Town receives a grant from the Authority representing 61% of approved construction and interest costs of the Luce
School project to be payable in equal installments over the life of the bonds.
MOTOR VEHICLE EXCISE
An excise is imposed on the registration of motor vehicles (subject to exemptions) at a uniform rate of $25 per $1,000 of
valuation. The excise is collected by and for the benefit of the municipality in which the motor vehicle is kept. Valuations
are determined by a statutory formula based on manufacturer's list price and year of manufacture. Bills are payable in 30
days of their issue, and when not paid when due bear interest at 12 per cent per annum. Provision is also made for suspension
of registration by the registrar of motor vehicles, who may also, after a hearing, suspend the owner's operating license.
32Source page 49
The following table sets forth the amount of motor vehicle excise taxes received in each of the most recent fiscal years and
budgeted amount for fiscal 2023:
Fiscal Motor
Year Excise Taxes
2023 (budgeted) $4,595,005
2022 5,014,394
2021 5,057,570
2020 4,560,311
2019 4,903,303
2018 4,703,198
OTHER TAXES
Four additional sources of revenue for local governments are the room occupancy excise tax, local meals excise tax, aviation
fuel tax and marijuana tax. All of these taxes take effect only where accepted by individual municipalities.
The Town has voted to accept the room occupancy excise tax and the local meals excise tax. 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 local meals excise tax 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 following table sets forth the amount of occupancy and meals excise taxes received in each of the most recent fiscal
years and the budgeted amount for fiscal 2022:
Meals
Fiscal Occupancy Excise
Year Tax Tax
2023 (budgeted) $100,000 $250,000
2022 270,584 447,672
2021 129,655 292,158
2020 205,264 363,428
2019 226,657 391,091
2018 230,326 373,495
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
33Source page 50
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 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 began collecting these
funds effective July 1, 2013. The audited balance in the account as of June 30, 2022 was $2,615,278.
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.
34Source page 51
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.
UNASSIGNED 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 general fund balance and free cash for the most recent fiscal years:
Unassigned
July 1, Fund Balance Free Cash
2022 $22,779,583 $8,962,315
2021 22,078,763 8,768,595
2020 19,686,713 6,559,814
2019 17,486,817 5,731,060
2018 17,224,537 4,383,423
2017 16,128,195 4,851,739
Free cash amounts certified for the enterprise funds of the Town as of July 1, 2022 (and not included in the above) are as
follows:
Water $1,007,485
Sewer 2,903,732
Skating Rink 136,203
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 (1)
2022 $10,026,967
2021 10,060,652
2020 9,393,074
2019 8,490,281
2018 7,692,837
2017 7,067,308
___________________
(1) Included in the Stabilization Fund Balance are funds set aside for the solar facility. The Stabilization Fund is included in the
“Unassigned” General Fund Balance.
35Source page 52
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 735
full and part-time employees, of which approximately 87% belong to unions or other collective bargaining groups as
follows:
Number of Contract
Union Department People Expires (1)
AFSCME, AFL-CIO State DPW, Library, 76 6/30/25
Council 93, Local 362 Planning Board, Secretaries
and Custodians
Administrative Employees Assoc. Various 6 6/30/24
IAFF, AFL-CIO, Local 1580 Fire 54 6/30/24
Canton Police Association, IBPO Police 41 6/30/24
Canton Police Superior Officers Association Police 4 6/30/24
Canton Teachers Association School 298 8/31/22
Canton School Maintenance and
Custodians Association School 24 6/30/24
Canton School Secretaries Association School 20 6/30/24
Cafeteria Personnel School 25 6/30/24
Educational Support Personnel Association School 94 8/31/22
644
___________________
(1) Expired contracts are currently in negotiations.
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.
The Town’s location has contributed to its vibrant residential and commercial sectors. Canton enjoys excellent access to
commuter rail service from two Canton MBTA stations. In addition, the Town’s location along Interstate 95/State Highway
Route 128, the 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 over $592,017.
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. Property tax new growth continued to expand in FY
2021 and 2022, at $1.55 million and $2.4 million, respectively.
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 had entered into a Special Tax
Agreement with the new owner of the former Reebok property adding $985,000 in new property tax growth. Spear Street
Capital, an owner of distinctive office properties, purchased Reebok’s former headquarters in March, 2018 and subsequently
sold the property in November of 2020 to the newly merged entity of Tufts Medical and Harvard Community Health, now
36Source page 53
Point32Health. Tufts/Harvard has executed a Payment In Lieu of Tax (PILOT) Agreement with the Town, effective for the
fiscal 2022 tax year. The 30 year PILOT agreement maintains the new and higher equivalent tax amount and provides for
automatic 3% increases annually. The Town recently welcomed a new business, ProDrive Technologies, further increasing
its manufacturing tax base. A building permit has been issued for a new substance abuse treatment center and the Town
continues to work with companies looking to relocate to the Dan Road commercial/industrial area. 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.
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 Select Board 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 (2015), to ensure the Town keeps
pace with any new market rate unit starts. The additional affordable housing being provided at the Paul Revere Heritage
Site will further increase the Town’s 40B compliance. At the annual town meeting in May of 2021, an Affordable Housing
Trust was formally established in order to proactively manage and grow affordable housing stock in the Town. The Trust
has engaged a housing production plan consultant and anticipates having a defined strategy for maintaining and increasing
affordable housing in the Town.
The Town was awarded $75,000 in MassDevelopment Site Readiness technical assistance services (by RKG Associates) to
do an economic development study of a large area of the Route 138 corridor. The Select Board also empanelled a multi-
disciplined group of volunteers to help guide the visioning process. The work was completed between June 2019 and
January 2020. Route 138 is Canton’s most heavily traveled arterial, a main location for the Town’s commercial base, and
a location for future development. Generally, the community has expressed a desire for a stronger design identity to create
a sense of place, and destination stores, restaurants, or other community resources as a draw. The Route 138 economic
development study makes recommendations around land use and zoning, aesthetics and sign bylaws, transportation (in
partnership with MassDot) and business recruitment.
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: the recently completed Metropolis Skating Rink and Bolivar
Community Pool. Consistent with its Energy Reduction Plan, the Town has completed LED lighting upgrades for the
Town’s streetlights and at most municipal and school buildings. The Town also made many thermal energy efficient
improvements in DPW and Fire Station buildings, and Town Hall. These were funded both with Green Communities grants
($363,114 so far) and Town capital funds. In partnership with the State and Eversource, the Town has installed eight electric
charging stations with 16 charging ports which are available to the publice for electric vehicle charging.
In addition, the Town has completed the construction of important water/sewer projects - the new addition to the Pecunit
Water Treatment Plant and $6 million of water main improvements. 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, the
Canton Association of Business and Industry, and Neponset Valley Chamber of Commerce in coordination with respect to
resource allocation and key planning issues facing the Town. The Town’s Economic Development Committee and Permit
Advisory Committee both provide technical assistance to businesses new to Canton.
37Source page 54
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.
This was recently updated in 2020. 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 recently completed a Downtown parking management study, a study of the Washington and Randolph
intersection, and a Complete Streets Prioritization Plan. These reports have led to investments in new road infrastructure,
such as the proposed traffic light and road striping work at the Washington and Randolph intersection.
In cooperation and negotiation with Eversource, the installation of a new power line as part of its Walpole to Holbrook
reliability project yielded a complete upgrade of Walpole Street. The Route 138 Corridor Roadway Improvement project
has completed all segments from Route 128 to Randolph Street. The Massachusetts Department of Transportation has
committed over $20.0 million to rehabilitate Route 138 in Canton from the Stoughton town border to the Milton town
border. This project is scheduled to commence in 2022. The Town has completed the under-grounding of all utilities in the
Downtown, including fire alarm.
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. Recent correspondence from the MBTA indicates that another less impactful option on Canton, called
the Middleboro option, may be more financially feasible than the Stoughton Alternative.
Also regarding Dan Road, the Town has entered into negotiations with Fresenius Kabi, an international drug compounding
company, for a Special Tax Agreement (STA) for a site on Dan Road. Fresenius Kabi is seeking the STA for an $8.5 million
dollar construction project at an existing site on Dan Road. The project is expected to bring eighty jobs to Canton. The
agreement was approved at the May 2017 Annual Town meeting.
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. The updated Master
Plan was adopted by the Planning Board in April 2020, and is available at www.cantonmasterplan.com.
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
38Source page 55
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 pro-growth attitude ensures Canton will remain an attractive location for commercial and industrial
development in the future. Recent residential developments include: subdivisions off Indian Way; Mariella Estates (Dedham
Street); McKendry Grove (Green Lodge Street); Yorkshire Estates (Stonewood Drive); The Preserve (off Wayside Lane);
Stillwater Estates (off Indian Lane); Cardinal’s Corner (Larkin Ct.); Beaver Meadow Estates (off Pleasant Street); as well
as condo buildings at 869 Washington Street, at the former Connor’s Wayside Furniture building (Turnpike Street), and
Paul Revere Heritage Site (Revere Street). Residential developments are complemented by commercial developments such
as two new hotels along Royall Street, the Top Golf facility at 777 Dedham Street, and expansions and additions at several
other commercial properties.
The Town’s planning focus includes improvements to the highway system that serves the Town and the region. A
construction contract has been awarded by MassDOT for the I-95/Dedham St. corridor construction project. This $55
million project will add a northbound exit ramp off I-95 to Dedham St., thereby improving access to businesses there and
will reduce side street traffic generated by the Westwood University Station Project. 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.
Also under construction at 777 Dedham Street is a new Top Golf development. This will consist of a three-level 60,000
square-foot building, a large “outfield” with catch netting, and parking lot with 463 spaces. Top Golf will utilize the existing
access road into the site and plans to install a new traffic signal at the entrance to the property on Dedham Street. The traffic
signal will be in addition to the new signals to be installed as a part of the ongoing Dedham Street improvement project
undertaken by MassDot. It is estimated that the Canton Top Golf project will create up to 500 new jobs, including 125 full-
time positions, while generating an estimated $700,000 in additional yearly property tax revenue for the Town.
The Town’s long-term lease of its capped landfill of fifteen acres is being used for solar energy production, providing the
Town with guaranteed payments of $20,000 per acre, per year, increasing annually by 2.5%, 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 produced the following financial benefits:
The 62.1 million kWh of solar electricity produced by this facility since its inception has resulted in $12.8 million
of net metering credits which exceeded the $11.5 million paid for generating this solar power.
In addition, the Town has received lease payments totalling $3.3 million over the last 10 years.
Overall, the Town has received an annual financial benefit from this solar facility which has helped in balancing
the Town’s budget along with increasing free cash reserve as follows:
FY 14 - $413,585
FY 15 - $498,069
FY 16 - $556,205
FY 17 - $461,428
FY 18 - $507,845
FY 19 - $512,303
FY 20 - $428,574
FY 21 - $401,124
FY 22 - $476,082
39Source page 56
In 2015 the Town entered into a development agreement with Canton Holdings LLC to redevelop the former Plymouth
Rubber site. The project will create 304 residential units of which 16 will be townhouse units and 288 will be garden style
units. It was recently negotiated by the Select Board to construct 77 more age restricted garden style units that will be age
restricted, in lieu of previously proposed commercial building. The developer has also created community open space and
preserved two historic buildings built by Paul Revere. The Town has acquired the open space. A restaurant, Northern Spy,
is now open in the Rolling Mill Building and a museum is planned for the Revere Barn property.
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
Royall Development Hotel/Restaurant Spring 2021 $19,200,000
Acorn Estates Residential Development Spring 2018 4,275,000
Cardinal’s Corner (Larkin Ct.) Residential Development Fall 2021 4,131,000
Connor’s Wayside (Turnpike St.)Residential Development Spring 2021 4,115,000
Indian Way Residential Development Fall 2021 2,250,000
Paul Revere Heritage Site Residential Development Winter 2021 10,300,000
Paul Revere Heritage Site Residential Development Spring 2022 9,329,000
TOTAL $53,600,000
Future/In-Progress Developments
Name Description Anticipated Completion Anticipated Costs
Stillwater Estates Residential Development On-going $17,100,000
Paul Revere Heritage Site Residential Development On-going 15,000,000
Yorkshire Estates Residential Development On-going 6,949,000
Mariella Estates (Bullen’s Way) Residential Development On-Going 1,200,000
Canton Landing (869 Wash. St.) Residential Development On-Going 1,100,000
Top Golf Commercial/Restaurant On-Going 8,200,000
TOTAL $49,549,000
40Source page 57
Principal Employers
The following are the principal employers, other than the Town itself, located in the Town:
Nature of Approximate
Company Business Current Employees
Dunkin Brands, Inc. Food and Beverages (1) 633
Computershare Operations Center/Transfer Agents 540
Meditech Hospital Software 504
Destination XL Group Retail/Wholesale 446
FIS Global Financial Services 350
Stoneridge Control Devices Automotive Engineering 255
Boston Mutual Insurance Insurance Sales and Service 229
Pappas Rehabilitation Hospital Pediatric Hospital 220
Gray, Gray and Gray LLP Accounting 107
Bank of Canton Banking 104
___________________
Source: The individual corporations as of January 2022.
(1) Corporate Headquarters.
Calendar Year Average
Employment by Industry 2021 2020 2019 2018 2017
Construction & Natural Resources 3,642 3,393 3,682 3,547 3,012
Manufacturing 1,170 1,166 1,639 1,708 1,930
Trade, Transportation & Utilities 3,168 3,087 3,373 3,439 4,143
Financial Activities 1,945 2,104 2,056 1,994 2,083
Professional & Business Services 4,097 4,124 5,052 5,164 5,394
Education & Health Services 3,120 2,980 3,158 2,987 2,842
Leisure & Hospitality 1,064 899 1,159 1,224 1,278
Information & Other Services 966 856 1,697 1,912 1,582
Public Administration 513 499 491 484 470
Total Employment 20,534 19,998 22,319 22,465 22,735
Number of Establishments 1,162 1,120 1,107 1,101 1,101
Total Annual Wage (000) $1,843,564 $1,816,206 $1,758,344 $1,803,568 $1,746,057
Average Weekly Wage $1,727 $1,747 $1,515 $1,544 $1,477
_________________________
(1) Source: Massachusetts Executive Office of Labor & Workforce Development.
Building Permits
Calendar
Year Number Estimated Value
2022 (as of December 1, 2022) 1,554 $137,367,921
2021 1,530 130,676,329
2020 1,174 124,553,403
2019 1,249 82,112,913
2018 1,196 138,008,575 (1)
2017 1,093 81,930,003
___________________
(1) Includes $74,892,177 for the Blue Hills Regional School Project.
41Source page 58
OTHER DATA
Employment (1)
Unemployment Rate
Calendar Year (2) Labor Force Employment Town County State US
2022 (October) 12,958 12,575 3.0 2.8 3.0 3.4
2021 12,792 12,147 5.0 5.1 5.7 5.3
2020 12,342 11,358 8.0 8.3 8.9 8.1
2019 12,836 12,490 2.7 2.6 3.0 3.7
2018 12,585 12,191 3.1 3.1 3.4 3.9
_________________________
(1) Source: Massachusetts Executive Office of Labor & Workforce Development.
(2) Full year averages except for 2022 which is for the month indicated.
Population (1)
Canton Norfolk County Massachusetts
% % %
Year Number Change Number Change Number Change
2021 (estimate) 24,470 13.5 724,505 8.0 6,984,723 6.7
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 0.0 606,587 0.0 5,737,037 0.0
_________________________
(1) Source: U.S. Department of Commerce for actuals and estimates.
Population Density (1)
Canton (2) Norfolk County Massachusetts
Year Number Density Number Density Number Density
2021 (estimate) 24,470 1,292.1 724,505 1,813.1 6,984,723 891.1
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 By Age (1)
Canton Norfolk County Massachusetts
Age Number Percent Number Percent Number Percent
Under 5 Years 1,377 5.8 37,470 5.3 358,030 5.2
5 Years to 19 Years 4,136 17.5 127,658 18.1 1,211,251 17.6
20 Years to 64 Years 13,389 56.7 420,043 59.7 4,167,156 60.6
65 Years and Over 4,713 20.0 118,569 16.8 1,136,566 16.5
Total 23,615 100.0 703,740 100.0 6,873,003 100.0
Median Age 43.1 40.9 39.6
Median Age (2000) 39.8 38.1 36.5
_________________________
(1) Source: U.S. Department of Commerce. 5-year estimates.
42Source page 59
Per Capita Income Levels (1)
Canton Norfolk County Massachusetts
% % %
Year Amount Change Amount Change Amount Change
2020 5-year estimates 56,441 29.1 55,860 33.2 45,555 37.2
2009 43,709 30.4 41,928 29.1 33,203 27.9
1999 33,510 52.1 32,484 54.0 25,952 50.7
1989 22,035 149.9 21,091 138.9 17,224 131.0
% Below Poverty Level (2020 5-year
estimates) 3.3 6.0 9.8
_________________________
(1) Source: U.S. Department of Commerce.
Family Income Distribution (1)
Canton Norfolk County Massachusetts
Income for Families Families Percent Families Percent Families Percent
Less than $25,000 177 2.9 9,708 5.4 143,891 8.6
25,000 - 49,999 402 6.5 15,470 8.7 214,482 12.8
50,000 - 74,999 635 10.3 18,469 10.3 216,305 12.9
75,000 - 99,999 743 12.1 19,153 10.7 207,807 12.4
100,000 - 149,999 1,358 22.0 38,058 21.3 349,590 20.9
150,000 - 199,999 1,006 16.3 26,952 15.1 223,424 13.3
200,000 or more 1,843 29.9 50,639 28.4 318,493 19.0
Total 6,164 100.0 178,449 100.0 1,673,992 100.0
Median Income $138,070 $132,514 $106,526
_________________________
(1) Source: U.S. Department of Commerce. 2020 5-year estimates.
Household Income Distribution (1)
Canton Norfolk County Massachusetts
Income for Households Households Percent Households Percent Households Percent
Less than $25,000 1,030 11.1 30,557 11.4 420,186 15.9
25,000 - 49,999 924 10.0 32,058 12.0 407,773 15.4
50,000 - 74,999 1,315 14.2 33,354 12.4 367,728 13.9
75,000 - 99,999 1,024 11.1 31,204 11.6 316,659 12.0
100,000 - 149,999 1,731 18.7 51,600 19.3 475,386 18.0
150,000 - 199,999 1,099 11.9 32,411 12.1 279,582 10.6
200,000 or more 2,115 22.9 56,783 21.2 378,666 14.3
Total 9,238 100.0 267,967 100.0 2,646,980 100.0
Median Income $107,442 $105,320 $84,385
_________________________
(1) Source: U.S. Department of Commerce. 2020 5-year estimates.
43Source page 60
Value Distribution Of Specified Owner-Occupied Housing Units (1)
Canton Norfolk County Massachusetts
Units Number Percent Number Percent Number Percent
Less than $100,000 82 1.2 3,229 1.8 45,171 2.7
100,000 - 199,999 227 3.2 4,533 2.5 155,859 9.4
200,000 - 299,999 431 6.1 15,953 8.6 296,559 17.9
300,000 - 499,999 2,361 33.5 71,712 38.9 589,022 35.6
500,000 - 999,999 3,545 50.3 68,222 37.0 460,676 27.8
1,000,000 or more 398 5.7 20,787 11.3 107,605 6.5
Total 7,044 100.0 184,436 100.0 1,654,892 100.0
Median Value $540,500 $491,000 $398,800
_________________________
(1) Source: U.S. Department of Commerce. 2020 5-year estimates.
Age Distribution Of Housing Units (1)
Canton Norfolk County Massachusetts
Year Built Number Percent Number Percent Number Percent
2000 or later 1,495 15.8 32,821 11.7 322,687 11.1
1980 to 1999 2,475 26.1 51,050 18.2 543,478 18.7
1940 to 1979 4,032 42.5 121,242 43.3 1,118,384 38.4
1939 or Earlier 1,482 15.6 75,067 26.8 928,460 31.9
Total 9,484 100.0 280,180 100.0 2,913,009 100.0
_________________________
(1) Source: U.S. Department of Commerce. 2020 5-year estimates.
Housing Unit Inventory (1)
Canton Norfolk County Massachusetts
Units in Structure Number Percent Number Percent Number Percent
1, Detached 5,877 62.0 161,245 57.6 1,516,717 52.1
1, Attached 525 5.5 15,828 5.6 158,626 5.4
2 to 4 501 5.3 33,889 12.1 592,402 20.3
5 to 9 976 10.3 15,772 5.6 168,469 5.8
10 to 19 595 6.3 13,448 4.8 125,042 4.3
20 or More 972 10.2 38,955 13.9 327,497 11.2
Mobile Home, Trailer, Other 38 0.4 1,043 0.4 24,256 0.8
Total 9,484 100.0 280,180 100.0 2,913,009 100.0
_________________________
(1) Source: U.S. Department of Commerce. 2020 5-year estimates.
44Source page 61
Educational Attainment (1)
Canton Norfolk County Massachusetts
Years of School Completed Number Percent Number Percent Number Percent
Less than 9th Grade 223 1.3 12,837 2.6 202,050 4.2
9th to 12th Grade, No Diploma 466 2.7 16,476 3.3 227,744 4.7
High School Graduate 2,678 15.5 92,752 18.7 1,133,358 23.5
Some College, No Degree 2,351 13.6 66,838 13.5 738,260 15.3
Associate's Degree 1,309 7.6 36,112 7.3 369,777 7.7
Bachelor's Degree 5,459 31.7 142,423 28.8 1,181,453 24.5
Graduate or Professional Degree 4,742 27.5 127,721 25.8 962,689 20.0
Total 17,228 100.0 495,159 100.0 4,815,331 100.0
High School Graduate or Higher 16,539 96.0 465,846 94.1 4,385,537 91.1
Bachelor's Degree or Higher 10,201 59.2 270,144 54.6 2,144,142 44.5
_________________________
(1) Source: U.S. Department of Commerce. 2020 5-year estimates
Public School Enrollments (1)
Actual Projected
2018-19 2019-20 2020-21 2021-22 2022-23 2023-24
Pre K – 4 1,291 1,329 1,198 1,203 1,262 1,270
Grades 5 - 8 1,015 1,023 1,018 1,043 992 999
Grades 9 - 12 971 984 957 903 895 916
Ungraded 52 61 52 79 70 70
Total 3,329 3,397 3,225 3,228 3,219 3,255
___________________
(1) Source: Massachusetts Dept. of Education - As of October 1, each school year.
School Facilities
School Capacity October 2022 Enrollment
Canton High School 1,000 904
Galvin Middle School 800 753
Hansen Elementary 544 546
Kennedy Elementary 528 470
Luce Elementary 584 457
Rodman Pre-School 80 89
3,536 3,219
The Town is currently conducting studies to assess capacity needs.
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/ William R. Scollins, III
Finance Director/Treasurer
Dated: January 23, 2023
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APPENDIX A
The following Balance Sheets for fiscal years ending June 30, 2019 through 2022, and the Comparative Statements of
Revenues, Expenditures and Changes in Fund Balances for fiscal years ending June 30, 2018 through 2022, have been taken
from the audited financial statements of the Town.
The Town engaged Roselli, Clark & Associates, Certified Public Accountants, to audit the accounts for the Town for the
years ending June 30, 2019 through 2029. The June 30, 2022 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 Annual Comprehensive Financial Report
(ACFR) for June 30, 2006 through June 30, 2021. 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 64
TOWN OF CANTON
MASSACHUSETTS
GENERAL FUND
Balance Sheet (1)
June 30,
2022 2021 2020 2019
Assets
Cash and Cash Equivalents $32,328,672 $25,573,300 $17,214,365 $17,212,144
Investments 9,940,112 9,958,972 9,327,093 7,150,877
Receivables, net of uncollectibles:
Real Estate and Personal Property Taxes 645,984 629,391 1,466,488 350,494
Tax Liens and Foreclosures 1,645,968 1,530,013 1,165,361 1,311,710
Motor Vehicle Excise Taxes 530,998 609,781 736,262 379,470
Intergovernmental 33,089 65,119 504,594 1,341,647
Due from Other Funds 976,550 751,282 1,687,641 854,784
Leases 4,290,283 -- -- --
Other Assets / Pre Paid Items -- -- 115,915 15,376
Total Assets $50,391,656 $39,117,858 $32,217,719 $28,616,502
Liabilities and Fund Balances
Liabilities
Warrants Payable $ 1,638,317 $ 1,614,086 $ 1,403,487 $ 1,334,850
Accrued Payroll and Withholdings 7,386,764 4,838,560 4,713,867 3,709,311
Tax Refunds Payable 2,984,763 1,076,407 426,773 470,796
Other Liabilities 1,257,816 1,218,014 7,314 39,489
Total Liabilities 13,267,660 8,747,067 6,551,441 5,554,446
Deferred Inflows of Resources
Unavailable Revenues- Property Taxes 2,172,332 1,635,418 2,119,816 1,459,388
Unavailable Revenues – Motor Vehicle Excise 530,998 609,781 736,262 375,283
Unavailable Revenues – Intergovernmental 33,089 65,119 504,594 1,341,647
Unavailale Revenues – Leases 4,290,283 -- -- --
Unavailable Revenues – Other -- -- -- --
Total Deferred Inflows of Resources 7,026,702 2,310,318 3,360,672 3,180,505
Fund Balances
Nonspendable -- -- 115,915 15,376
Restricted -- -- -- 15,918
Committed 3,628,842 1,108,984 1,148,811 1,026,447
Assigned 3,688,869 4,872,726 1,354,167 1,599,273
Unassigned 22,779,583 22,078,763 19,686,713 17,224,537
Total Fund Balances 30,097,294 28,060,473 22,305,606 19,881,551
Total Liabilities, Deferred Inflows
of Resources, and Fund Balances $50,391,656 $39,117,858 $32,217,719 $28,616,502
___________________
(1) Excerpts from audited financial statements prepared by Roselli, Clark & Associates, Certified Public Accountants.
A-2Source page 65
TOWN OF CANTON
MASSACHUSETTS
Combined Statement of Revenues, Expenditures and Changes in Fund Balances (1)
General Fund
(000 omitted)
Revenues 2022 2021 2020 2019 2018
Property Taxes $ 84,527 $ 81,134 $ 78,318 $ 76,035 $ 73,672
Payment in Lieu of Taxes 1,883 282 254 243 237
Tax Liens 149 221 235 221 297
Excises 5,014 5,058 4,560 4,903 4,703
Hotel and Meals Taxes 718 422 569 618 604
Penalties and Interest 285 382 240 284 365
Departmental and Other 1,009 1,173 937 1,560 1,086
Licenses and Permits 1,610 1,945 1,422 1,258 1,235
Intergovernmental - State 16,885 22,800 21,021 18,502 18,164
Fines and Forfeits 39 53 55 87 115
Earnings on Investments 214 832 1,299 660 402
Total Revenues 112,334 117,300 108,910 104,370 100,881
Expenditures
General Government 4,149 4,058 4,092 4,269 4,081
Public Safety 13,611 12,364 12,738 11,928 11,446
Education 50,500 47,002 46,109 44,481 42,052
Public Works 6,402 6,471 5,886 5,801 5,706
Human Services 1,090 985 1,007 977 967
Culture and Recreation 2,558 2,241 2,250 2,192 2,045
Debt Service 4,568 4,282 4,571 4,661 4,868
Intergovernmental Charges 1,462 1,425 1,187 1,231 1,015
Employee Benefits 13,730 13,626 13,315 13,014 12,964
Pension Benefits 13,094 18,872 16,801 14,173 13,538
Total Expenditures 111,164 112,226 107,956 102,728 98,683
Excess (Deficiency) of Revenues Over
Expenditures 1,170 5,075 954 1,642 2,198
Other Financing Sources (Uses)
Premium from Issuance of Debt -- 245 -- 84 38
Proceeds from Refunding Bonds -- 2,060 -- 1,398 414
Payments of Refunded Bonds -- (2,305) -- (1,482) (446)
Operating Transfers - In 1,878 1,311 1,970 1,477 1,286
Operating Transfers - Out (1,011) (631) (875) (2,745) (1,544)
Total Other Financing Sources (Uses) 867 680 1,095 (1,268) (252)
Net Change in Fund Balance 2,037 5,755 2,049 375 1,946
Fund Balance – Beginning 28,060 23,306 20,257 19,882 17,935
Fund Balance - Ending $ 30,097 $ 28,060 $ 23,306 $ 20,257 $ 19,882
___________________
(1) Excerpts from audited financial statements of the Town. Totals may not add due to rounding.
A-3Source page 66
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APPENDIX B There follows in this Appendix the audited financial statements of the Town of Canton, Massachusetts, as of June 30, 2022 prepared by Roselli, Clark & Associates, Certified Public Accountants. The attached report speaks only as of its date, and only to the matters expressly set forth therein. The auditors have not been engaged to review this Official Statement or to perform audit procedures regarding the post-audit period, nor have the auditors been requested to give their consent to the inclusion of their report in this Report. Except as stated in their report, the auditors have not been engaged to verify the financial information set out in this Report and are not passing upon and do not assume responsibility for the sufficiency, accuracy or completeness of the financial information presented.
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APPENDIX B
TOWN OF CANTON, MASSACHUSETTS
ANNUAL COMPREHENSIVE
FINANCIAL REPORT
For the Fiscal Year
July 1, 2021 – June 30, 2022Source page 70
On the cover and below: The Memorial Field at Canton High School, home of the Canton Bulldogs. Recent renovations to install new bleachers and a press box were completed in the summer of 2022. The cost of the renovation, $1,475,000, was subsidized from a Town borrowing of $1,000,000 and $475,000 from the Town’s ARPA grant. This was the second large renovation to the field in recent years. In fiscal 2018, the Town resurfaced the pitch with synthetic turf. Cover photo credit: Kaestle Boos, Associates Inc. Above: Photos of the bleachers and press box during construction and completion.
Source page 71
Annual Comprehensive Financial Report
For the Fiscal Year
July 1, 2021 through June 30, 2022
Prepared by the Finance DepartmentSource page 72
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TOWN OF CANTON, MASSACHUSETTS
ANNUAL COMPRHENSIVE FINANCIAL REPORT
YEAR ENDED JUNE 30, 2022
TABLE OF CONTENTS
Page(s)
INTRODUCTORY SECTION
Letter of Transmittal....................................................................................................................... B 1-10
Certificate of Achievement for Excellence in Financial Reporting..................................................B-11
Organizational Chart Town ..............................................................................................................B-12
Organizational Chart Schools...........................................................................................................B-13
Principal Town Officials ..................................................................................................................B-14
FINANCIAL SECTION
Independent Auditor’s Report ....................................................................................................... B 17-19
Management’s Discussion and Analysis ....................................................................................... B 21-32
Basic Financial Statements:
Statement of Net Position ..........................................................................................................B-35
Statement of Activities...............................................................................................................B-36
Balance Sheet – Governmental Funds .......................................................................................B-37
Reconciliation of the Governmental Funds Balance Sheet Total Fund Balances to
the Statement of Net Position ............................................................................................B-38
Statement of Revenues, Expenditures and Changes in Fund Balances –
Governmental Funds...........................................................................................................B-39
Reconciliation of the Statement of Revenues, Expenditures and Changes in Fund
Balances of Governmental Funds to the Statement of Activities ......................................B-40
Statement of Net Position – Proprietary Funds..........................................................................B-41
Statement of Revenues, Expenses, and Changes in Net Position – Proprietary Funds..............B-42
Statement of Cash Flows – Proprietary Funds...........................................................................B-43
Statement of Fiduciary Net Position ..........................................................................................B-44
Statement of Changes in Fiduciary Net Position .......................................................................B-44
Notes to Basic Financial Statements....................................................................................... B 46-78
Required Supplementary Information:
Schedule of the Town’s Proportionate Share of the Net Pension Liability ...............................B-81
Schedule of the Town’s Contribution to Pension Plan ..............................................................B-81
Schedule of the Commonwealth’s Collective Share of Net Pension Liability –
Massachusetts Teachers’ Retirement System......................................................................B-82
Schedule of Changes in Net OPEB Liability and Related Ratios..............................................B-83
Schedule of Contributions to OPEB Plan ..................................................................................B-84
Schedule of Investment Returns – OPEB Plan ..........................................................................B-84
Schedule of Revenues, Expenditures and Changes in Fund Balances – Budget and
Actual – General Fund.................................................................................................... B 85-87
Notes to Required Supplementary Information ...................................................................... B 88-89Source page 74
TOWN OF CANTON, MASSACHUSETTS
ANNUAL COMPREHENSIVE FINANCIAL REPORT
YEAR ENDED JUNE 30, 2022
TABLE OF CONTENTS
Page(s)
FINANCIAL SECTION (continued)
Combining Statements:
Nonmajor Governmental Funds ............................................................................................ B 92-93
Combining Balance Sheet – Nonmajor Governmental Funds........................................ B 94-96
Combining Statement of Revenues, Expenditures, and Changes in Fund
Balances – Nonmajor Governmental Funds .......................................................... B 98-100
Internal Service Funds..............................................................................................................B-101
Combining Statement of Net Position – Internal Service Funds ......................................B-102
Combining Statement of Revenues, Expenses and Changes in Net Position –
Internal Service Funds .............................................................................................B-103
Combining Statement of Cash Flows – Internal Service Funds .......................................B-104
STATISTICAL SECTION
Narrative..........................................................................................................................................B-107
Net Position by Component – Last Ten Fiscal Years......................................................................B-108
Changes in Net Position – Last Ten Fiscal Years .......................................................................B109-110
Fund Balances, Governmental Funds – Last Ten Fiscal Years .......................................................B-111
Changes in Fund Balances, Governmental Funds – Last Ten Fiscal Years ....................................B-112
Assessed Value and Estimated Actual Value of Taxable Property By Classification
and Tax Rates – Last Ten Fiscal Years.............................................................................B-113
Direct Property Tax Rates – Last Ten Fiscal Years ........................................................................B-114
Principal Taxpayers – Current Year and Nine Years Ago ..............................................................B-115
Property Tax Levies and Collections – Last Ten Fiscal Years........................................................B-116
Ratios of Outstanding Debt by Type – Last Ten Fiscal Years ........................................................B-117
Ratios of General Bonded Debt Outstanding ..................................................................................B-118
Computation of Legal Debt Margin – Last Ten Fiscal Years .........................................................B-119
Direct and Overlapping Governmental Activities Debt ..................................................................B-120
Demographic and Economic Statistics – Last Ten Fiscal Years .....................................................B-121
Principal Employers (Excluding Town) – Current Year and Nine Years Ago ...............................B-122
Full-time Equivalent Town Employees by Functions – Last Ten Fiscal Years ..............................B-123
Operating Indicators by Function/Program – Last Ten Fiscal Years ..............................................B-124
Capital Asset Statistics by Function/Program – Last Ten Fiscal Years ..........................................B-125Source page 75
INTRODUCTORY SECTION Above: The Town’s new Zamboni ice resurfacer. Purchased for approximately $150,000, the equipment was subsidized from the Rink’s capital project’s budget. This is the Town’s first electric powered ice resurfacer. An additional one is currently on order.
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Town of Canton, Massachusetts
OFFICE OF THE SELECT BOARD
SELECT BOARD POLICE COMMISSIONERS
UPPER MEMORIAL HALL BOARD OF PUBLIC WORKS
801 WASHINGTON STREET LICENSING BOARD
TEL: (781) 821-5000 CANTON MA 02021
FAX: (781) 821-2935 TOWN ADMINISTRATOR
Email: townadmin@town.canton.ma.us CHARLES E. DOODY
Letter of Transmittal
December 16, 2022
Honorable Select Board and Citizens of the Town of Canton, Massachusetts:
I am pleased to acknowledge that the Town of Canton has completed its seventeenth consecutive Annual
Comprehensive Financial Report (ACFR). The report is for the fiscal year ended June 30, 2022, 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 ACFR.
This letter of transmittal and the management’s discussion and analysis, located in the financial section
of the ACFR, 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 ACFR 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 ACFR
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 B-1 Annual Comprehensive Financial ReportSource page 78
The Town’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 provide reasonable assurance on an
annual basis that the financial statements of the Town are free of material misstatement. The independent
audit involved (1) examining, on a test basis, evidence supporting the amounts and disclosures in the
financial statements; (2) assessing the accounting principles used and significant estimates made by
management; and (3) evaluating the overall financial statement presentation. The independent auditor
concluded, based upon the audit, that there was a reasonable basis for rendering an unmodified opinion
that the Town’s financial statements for the fiscal year ended June 30, 2022 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 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’s separately issued Single Audit
Reports Pursuant to Title 2 of the US “Code of Federal Regulations” (CFR) Part 200, “Uniform
Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards”.
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
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 23,000 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 B-2 Annual Comprehensive Financial ReportSource page 79
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 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.
In August 2020, the Massachusetts legislature passed enabling legislation creating the Revere & Son
Heritage Trust Corporation, a quasi-public/private corporation. The mission of the Corporation is to
establish an open-to-the-public Paul Revere Museum (PRM) of Discovery and Innovation and Paul
Revere Heritage site. The PRM is currently under development on the grounds of the site - a nine-acre
park along the Neponset River created with trails connecting two train stations, and adjacent to 272 new
units of housing. A new bridge with traffic signal provides additional access to the site from Neponset
street. The site features waterfalls, a mill pond, walkways with interpretive signage, and two 19th century
buildings built by Revere and his family - the Copper Rolling Mill and the 174-year old Historic Horse
Barn. The Barn will be a unique museum for history, technology, and learning. The first floor of the
Copper Mill hostV a fine dining restaurant, Northern Spy, serving New England fare. The Second Floor
known as Copper Mill Hall, provides an attractive flexible use space for functions, meetings, and
historical displays
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.
An elected, five-member School Committee appoints a School Superintendent who administers the public
school system of the Town. School Committee members, like the Select Board, are elected at-large to
three-year staggered terms.
Town of Canton, Massachusetts B-3 Annual Comprehensive Financial ReportSource page 80
About a decade 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 appeal process that can overturn local zoning board decisions.
This has allowed the ToZQ 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 Select Board, Town Administrator, and Open Town Meeting form of
government. The five elected Select Board members make policy decisions, and the Town Administrator
is responsible for carrying out the policies of the Select Board and for managing the day-to-day operations
of the Town. The policies and procedures of the Select Board are detailed in the administrative code that
will continue to evolve and be created over time to best serve the community.
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 Select Board published a new business and community guide and has made that information
available online as well.
As previously discussed, the Town 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. Recently the
construction by Avalon Development of additional affordable housing on Randolph Street has further
increased the Town’s 40B compliance. The Town recently voted to establish an Affordable Housing
Trust in order to proactively protect and expand affordable housing units in the Town.
Town of Canton, Massachusetts B-4 Annual Comprehensive Financial Report