Canton, Massachusetts · Saved source text
Latest Bond Issuance Report March 2017
Saved text from 205 source pages. Transcription and OCR may contain errors; verify figures and wording against the original. Retrieved 2026-10-15.
Source page 41
INVESTMENTS
Investments of funds of cities and towns, except for trust funds, are generally restricted by Massachusetts General Laws,
Chapter 44, section 55. That statute permits investments of available revenue funds and bond and note proceeds in term
deposits and certificates of deposits of banks and trust companies, in obligations issued or unconditionally guaranteed by
the federal government or an agency thereof with a maturity of not more than one year, in repurchase agreements, with a
maturity of not more than 90 days secured by federal or federal agency securities, in participation units in the
Massachusetts Municipal Depository Trust (“MMDT”), or in shares of SEC-registered money market funds with the
highest possible rating from at least one nationally recognized rating organization.
MMDT is an investment pool created by the Commonwealth. The State Treasurer is the sole trustee and the funds are
managed under contract by an investment firm under the supervision of the State Treasurer’s Office. According to the
State Treasurer the Trust’s investment policy is designed to maintain an average weighted maturity of 90 days or less and
is limited to high-quality, readily marketable fixed income instruments, including U.S. Government obligations and
highly-rated corporate securities with maturities of one year or less.
Trust funds, unless otherwise provided by the donor, may be invested in accordance with section 54 of Chapter 44, which
permits a broader range of investments than section 55, including any bonds or notes that are legal instruments for savings
banks in the Commonwealth. The restrictions imposed by sections 54 and 55 do not apply to city and town retirement
systems.
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
2016 $12,961,775 $4,177,587
2015 11,430,875 3,801,359
2014 9,815,657 3,271,361
2013 8,276,920 2,924,558
2012 7,118,096 3,234,349
Free cash amounts certified for the enterprise funds of the Town as of July 1, 2016 (and not included in the above) are as
follows:
Water $2,533,762
Sewer 1,594,141
Skating Rink 23,856
32Source page 42
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)
2016 $6,426,120
2015 5,754,735
2014 5,074,180
2013 4,610,294
2012 4,210,832
____________________
(1) Included in the Stabilization Fund Balance are funds set aside for school special education. The Stabilization Fund is included in
the “Unassigned” General Fund Balance.
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
733 full and part-time employees, of which approximately 86 percent belong to unions or other collective bargaining
groups as follows:
Number of Contract
Union Department People Expires (1)
AFSCME, AFL-CIO State DPW, Library, 72 6/30/15
Council 93, Local 362 Planning Board, Secretaries
and Custodians
Administrative Employees Assoc. Various 5 6/30/18
IAFF, AFL-CIO, Local 1580 Fire 51 6/30/18
Canton Police Association, IBPO Police 37 6/30/18
Canton Police Superior Officers Association Police 3 6/30/18
Canton Teachers Association School 300 8/31/18
Canton School Maintenance and
Custodians Association School 25 6/30/18
Canton School Secretaries Association School 19 6/30/18
Cafeteria Personnel School 25 6/30/18
Educational Support Personnel Association School 94 8/31/18
631
________________
(1) Expired contract is 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 is 18 miles from downtown
Boston and 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
33Source page 43
highway access to many of the Commonwealth’s high technology firms. Assessed values of single family homes in the
Town are currently averaging over $500,000.
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. Last year new growth was more than double the
forecasted growth.
Municipal officials work closely with and receive valuable support from the State Office of Business Development as well
as regional planning support from the Metropolitan Area Planning Council (MAPC). In addition, business advocacy
organizations, such as Canton Association of Business and Industry (CABI), play a vital role.
The Town strives to take full advantage of the latest initiatives and incentives made available to it notably under Chapter
43D for expedited permit approvals and Tax Incremental Financing (TIF). The Town’s continued accomplishments in
promoting 43D sites in Town are discussed in greater detail below.
The Town’s Economic Development Committee (EDC) is also a special resource. The Town regularly takes advantage of
local talent from the community who specialize in finance, banking, development and real estate.
The Town continues to update and publish an economic development recruitment guide which includes pertinent
information sought by private company CEOs when making siting and expansion decisions. The Board of Selectmen
recently published a new business and community guide and has made that information available online as well.
The Town has surpassed its required 10% affordable housing goal as required by State regulation. The Town has
incorporated a continued affordable housing unit goal, within the Housing Action Plan, to ensure the Town keeps pace
with any new market rate unit starts. The recent construction by Avalon Development of additional affordable housing on
Randolph Street further increased the Town’s 40B compliance.
The Town continues to invest in infrastructure improvements such as roads, sewers, and water supply facilities, as well as
various municipal and school facility upgrades. These include: Town Hall, Library, Public Safety Facilities, Public
Works and School building improvement projects. Recently completed is a renovation of a purchased facility to become a
new Senior Center located at 500 Pleasant Street to address the growing aging population in need of expanded and
updated senior services.
In addition, the Town has completed the construction of three important water/sewer projects - the Greenlodge Street
Interceptor Rehabilitation Project and two (2) new water filtration plants. These water filtration plants will provide state-
of-the-art water filtration capabilities and allow for the use of local source water to reduce operating costs, improve water
availability (including redundancy) and filtrate water for customers with the most technologically advanced system
available today. The sewer project has reduced MWRA treatment costs and limited sewer overflows in environmentally
sensitive areas.
All these projects are necessary to support new economic development and community growth as well as minimize
operational costs resulting from deferred maintenance and inefficient building “infrastructure” including HVAC systems.
These projects also improve safety conditions for the users of municipal and school facilities.
The Town’s commitment to sound economic development is further demonstrated by its partnerships with MAPC and
Neponset Valley Chamber of Commerce to coordination with respect to resource allocation and key planning issues
facing the Town. The Town reactivated the Economic Development Committee and created, with Town Meeting, the
Permit Advisory Committee both of which provide technical assistance to businesses new to Canton.
34Source page 44
The Town has instituted a Google-based web search device, which identifies Canton as a business friendly community.
The web product highlights, via a series of videos, the Town of Canton as a solid and desirable business and family
destination. The Town’s continued status as a 43D Expedited Permitting Community has benefitted the Town greatly and
has led to the actual designation of many new priority development sites. This 43D designation, which was granted to the
Town in 2008, came with a $150,000 grant to hire a permit specialist who has completed the administrative and
organizational work necessary to implement the issuance of permits via an integrated and automated town wide permit
system which better serves the public and the Town in terms of real time tracking of permits.
The Town has available a permit guidebook, which lays out the Town’s permitting requirements in an easy to use format.
The goal is to identify key requirements and improve communications, saving applicants time and money. The Permit
Advisory Committee has been a successful endeavor by bringing together key permit granting agency representatives to
counsel and guide any proponent of a proposed commercial endeavor. Participation and results continue to be
overwhelmingly positive.
The Town has also published a Tax Incremental Financing Evaluation Policy document designed to provide a rational and
consistent intake evaluation of TIF requests. The new approach allows the Town to quantify and better evaluate any
request to reduce taxes for a business seeking to locate or expand. Also, the Town launched a Payment in Lieu of Taxes
Program (PILOT) that encourages non-taxable property owners to voluntarily participate in the support of public services.
The Town has completed construction of the downtown revitalization project commonly referred to as the Streetscape
Improvement Project. This work was funded as a result of a $2.6 million dollar Commonwealth grant received due to the
Town’s “Smart Growth” efforts and rezoning of the Downtown. The Town has also completed safety and efficiency
improvement work on two key intersections ($2.2 million dollar Commonwealth grant) located in the heart of the Route
138 business district. These intersections are located at the Randolph and Washington Street Intersections with Route 138.
These projects have improved both the safety and efficiency of this commercial roadway. The Board of Selectmen has
also empaneled a multi-disciplined group of volunteers who have completed a visioning process which has led to a variety
of re-zoning recommendations with a goal of improving the business climate and enhancing zoning flexibility to spur
additional economic development potential along this vital commercial roadway.
In cooperation with Eversource, a new 345 kV transmission line was installed under Route 138 to ensure an updated,
reliable source of power is available to the Town and the region. The Route 138 Corridor Roadway Improvement project
has completed all segments from Route 128 to Randolph Street. The Town has completed the under-grounding of all
utilities in the Downtown, including fire alarm.
The Town was also a participant in a regional planning study to evaluate the effects of new growth in both residential and
commercial construction. The study’s focus was to identify growth related problems such as transportation, infrastructure,
environmental, and economic development issues. In addition, a build-out analysis was completed to assist and improve
public policy decision-making with regard to growth and development related to educational planning. These studies have
been coordinated with other immediate area communities.
The Town is in the process of evaluating the opportunities and/or impacts of the South Coast Rail Project which is
advancing through preliminary and environmental design. This Commonwealth initiative would provide rail service from
Boston to Fall River/New Bedford via a route now determined by the Commonwealth, known as the Stoughton
Alternative, which will impact Canton. 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.
In 2010, the Town received a MORE grant in the amount of $850,000 and completed infrastructure improvements along
Dan Road, an important commercial area of the Town. After much effort, the Town secured the commitment of
Organogenesis, a bio tech firm, now located on Dan Road, which was contemplating relocation. Their commitment to
stay in Canton and expand was an important part of the Town’s success in obtaining this new funding. They are currently
expanding their facilities into an additional Dan Road location.
Also regarding Dan Rd., 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 Rd. Fresenius Kabi is seeking the STA for an $8.5
35Source page 45
million dollar construction project at an existing site on Dan Rd. The project is expected to bring eighty jobs to Canton.
The town expects the agreement to be 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.
Another objective of the Master Plan Initiative was to address the often-conflicting goals of economic development and
resource protection. Sustainable development providing for economic growth that is compatible with resource protection
remains an important Town focus. The Town’s approach includes promoting economic development that is supported by
adequate infrastructure. Thus, the dual objectives of the Master Plan Initiative remain to provide for economic growth
which is (1) compatible with resource protection and (2) supported by adequate infrastructure. To ensure this, the Town
embarked on a four-town regional planning initiative, which is still ongoing. The Towns of Canton, Dedham, Norwood
and Westwood share a common watershed and an interlinked highway system. The Towns continue to work together and
meet regularly to discuss economic development on a regional basis. This regional planning initiative encourages and
reminds area towns that, despite borders, what happens in another neighboring community may have an impact, both
positive and potentially negative, on one another. The Towns plan and communicate to shape growth, protect water
resources, transportation infrastructure and to ensure support and advocacy for growth in the Region to the community’s
benefit. This group continues to pursue state and federal funding for the replacement of the I95/I93 Interchange, a source
of safety concerns and traffic.
The Town’s pro-growth attitude ensures Canton will remain an attractive location for commercial and industrial
development in the future. Residential developments such as Windsor Woods, Indian Woods, Pequit View and Blue Hill
Commons are complemented by commercial developments such as Dunkin Brands with their worldwide corporate
headquarters along with other top Canton companies such as Meditech, Network Engines, One Beacon, Boston Mutual,
Computershare, LoJack and Pepsi.
The Town’s planning focus includes improvements to the highway system that serves the Town and the region. The Route
128 Add-a-Lane Project was federally funded and completed in 2013. Also, recently approved by the Massachusetts
Highway Division was the advancement of the planning of the I95/I93 interchange project along with corridor studies of
both Routes 1 and Interstate 95. 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.
The Town entered into a long-term lease of its capped landfill to be used by a private entity to install solar panels on
fifteen acres of the site at no cost to Canton. The lease provides the Town with guaranteed payments of $20,000 per acre,
per year, 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 28 million kWh of solar electricity produced by this facility since its inception have resulted in $5.4 million
of net metering credits reflected on our Eversource bills which exceeded the $4.6 million paid for generating this
solar power.
In addition, the Town has received lease payments totaling $1.3 million over the last 4 years.
36Source page 46
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 our free cash reserve as follows:
FY 13 - $303,519
FY 14 - $413,585
FY 15 - $498,069
FY 16 - $556,205
Fy 17 (to date) - $261,684
Eversource has recently reimbursed the Town over $2 million for surplus net metering credits due to our
consuming much less electricity than the credits generated by the solar facility. In addition, the most recent
month’s net metering credits were paid to the Town with checks rather than credits against our bills.
In 2015 the Town entered into a development agreement with Canton holdings LLC to redevelop the former Plymouth
Rubber site. The project will create 272 residential units of which 19 will be townhouse units and 253 will be garden style
units. The developer will also create community open space and will preserve two historic buildings built by Paul Revere.
The Town recently learned of plans by Reebok, Inc. to move their headquarters from Canton to Boston. Recent real estate
sales in the area, and the Town’s conservative property valuation of the Reebok Campus, give the Town confidence that
Canton will see little if any impact on its commercial tax rate due to this move. Canton has met with Reebok officials and
committed to work with them to redevelop their 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
Brightview Canton LLC Assisted Living Facility Spring 2016 $25,600,000
Ice House Recreational Facility Fall 2016 $6,000,000
TOTAL $31,600,000
Future/In-Progress Developments
Name Description Anticipated Completion Anticipated Costs
Reiser Corporation Food Equip Manufacturer Fall 2017 $5,134,000
Grimes Crossing Residential Development Spring 2018 $2,726,000
Plymouth Rubber Residential Development Fall 2018 $5,400,000
TOTAL $13,260,000
37Source page 47
Principal Employers
The following are the principal employers, other than the Town itself, located in the Town:
Nature of Approximate
Company Business Current Employees (1)
Reebok International Footwear 881
Computershare Operations Center/Transfer Agents 661
Dunkin Brands, Inc. Food and Beverages 658
Meditech Hospital Software 516
Destination XL Group Retail/Wholesale 457
Stoneridge Control Devices Automotive Engineering 318
FIS Global Financial Services 298
Boston Mutual Insurance Insurance Sales and Service 242
CB&I (Shaw Group) Engineering 140
Gray, Gray and Gray LLP Accounting 122
__________________
Source: The individual corporations as of January 2017.
Employment by Industry
Calendar Year Average
2015 2014 2013 2012 2011
Construction and Natural Resources 2,644 2,519 2,395 2,067 2,053
Manufacturing 1,753 1,668 1,672 1,665 1,773
Trade, Transportation and Utilities 4,349 4,347 4,293 4,235 4,331
Financial Activities 2,198 1,960 1,937 2,074 1,923
Professional and Business Services 5,182 5,743 5,985 5,141 4,261
Education and Health Services 2,560 2,587 2,669 2,467 2,493
Leisure and Hospitality 1,249 1,178 1,212 1,160 1,211
Information and Other Services 1,556 1,665 1,715 1,849 1,828
Public Administration 489 500 498 392 382
Total Employment 21,981 22,174 22,378 21,052 20,274
Number of Establishments 1,077 1,062 1,036 1,034 1,062
Total Annual Wage (000) $1,644,378 $1,562,834 $1,550,248 $1,440,690 $1,311,968
Average Weekly Wage $1,439 $1,355 $1,332 $1,316 $1,244
___________________
Source: Massachusetts Executive Office of Labor and Workforce Development.
Building Permits
Calendar
Year Number Estimated Value
2016 1,271 $61,956,390
2015 1,514 75,556,729
2014 1,132 48,949,775
2013 882 48,014,121
2012 691 36,281,045
38Source page 48
OTHER DATA
Unemployment (1)
Year Canton Massachusetts United States
2016 (December) 2.4% 2.4% 4.5%
2015 4.4 5.0 5.3
2014 5.1 5.8 6.2
2013 5.9 6.7 7.4
2012 5.9 6.7 8.1
______________________
(1) Massachusetts Executive Office of Labor and Workforce Development. Full year annual averages except for 2016 which is for the
month indicated.
Population (1)
Canton Norfolk County Massachusetts
Year Number % Change Number % Change Number % Change
2015 (Estimate) 22,817 5.8% 696,023 3.8% 6,794,422 3.8%
2010 21,561 3.8 670,850 3.2 6,547,629 3.1
2000 20,775 12.1 650,308 5.6 6,349,097 5.5
1990 18,530 1.9 616,087 1.6 6,016,425 4.9
1980 18,182 606,587 5,737,037
____________________
(1) Source: U.S. Department of Commerce for actuals and estimates.
Population Density (1)
Canton Norfolk County Massachusetts
Year Number Density (2) Number Density Number Density
2015 (Estimate) 22,817 1,204.8 696,023 1,741.8 6,794,422 866.9
2010 21,561 1,138.5 670,850 1,678.8 6,547,629 835.4
2000 20,775 1,097.0 650,308 1,627.4 6,349,097 810.0
1990 18,530 978.5 616,087 1,541.7 6,016,425 767.6
1980 18,182 960.1 606,587 1,518.0 5,737,037 732.0
____________________
(1) Source: U.S. Department of Commerce for actuals and estimates.
(2) Based on 18.9 square miles.
Population Composition 2015 5-year estimates (1)
Canton Norfolk County Massachusetts
Age Number Percent Number Percent Number Percent
Under 5 Years 1,071 4.8% 37,401 5.4% 365,841 5.5%
5 Years to 19 Years 4,552 20.4 130,899 19.0 1,241,719 18.5
20 Years to 64 Years 12,863 57.7 413,852 60.2 4,112,608 61.3
65 Years and Over 3,790 17.0 105,569 15.4 985,418 14.7
Total 22,276 100.0% 687,721 100.0% 6,705,586 100.0%
Median Age 42.0 40.9 39.3
Median Age (2000) 39.8 38.1 36.5
__________________
(1) Source: U.S. Department of Commerce.
39Source page 49
Income Levels (1)
Canton Norfolk County Massachusetts
% Change from % Change from % Change from
Year Amount Previous Census Amount Previous Census Amount Previous Census
Per Capita-Personal
2015 (5-yr est.) $48,697 45.3% $45,829 41.1% $36,895 42.2%
1999 33,510 52.1 32,484 54.0 25,952 50.7
1989 22,035 21,091 17,224
Median Family
Income (2015) $122,002 $112,605 $87,085
Median Household
Income (2015) $95,045 $88,262 $68,563
% Below Poverty
Level (2015) 6.4% 6.6% 11.6%
_________________
(1) Source: U.S. Department of Commerce.
Family Income Distribution 2015 5-year estimates (1)
Canton Norfolk County Massachusetts
Income for Families Families Percent Families Percent Families Percent
Less than $10,000 144 2.5% 3,688 2.2% 58,643 3.6%
$10,000 - $24,999 248 4.3 7,722 4.5 131,129 8.1
$25,000 - $49,999 530 9.1 18,726 11.0 258,055 15.9
$50,000 - $74,999 665 11.5 21,095 12.3 249,664 15.4
$75,000 - $99,999 707 12.2 22,558 13.2 223,266 13.8
$100,000 - $149,999 1,233 21.3 39,882 23.3 332,072 20.5
$150,000 or more 2,274 39.2 57,204 33.5 368,088 22.7
Total 5,801 100.0% 170,875 100.0% 1,620,917 100.0%
_________________
(1) Source: U.S. Department of Commerce.
Household Income Distribution 2015 5-year estimates (1)
Canton Norfolk County Massachusetts
Income for Households Households Percent Households Percent Households Percent
Less than $10,000 273 3.1% 11,329 4.4% 155,390 6.1%
$10,000 - $24,999 828 9.5 25,389 9.8 348,350 13.7
$25,000 - $49,999 1,225 14.0 38,899 15.0 462,242 18.1
$50,000 - $74,999 1,240 14.2 36,279 14.0 402,960 15.8
$75,000 - $99,999 1,027 11.7 32,264 12.4 317,568 12.5
$100,000 - $149,999 1,542 17.6 50,522 19.5 429,874 16.9
$150,000 or more 2,614 29.9 64,863 25.0 433,337 17.0
Total 8,749 100.0% 259,545 100.0% 2,549,721 100.0%
_________________
(1) Source: U.S. Department of Commerce.
40Source page 50
Value Distribution Of Specified Owner-Occupied Housing Units 2015 5-year estimates (1)
Canton Norfolk County Massachusetts
Units Number Percent Number Percent Number Percent
Less than $100,000 228 3.4% 4,538 2.5% 68,999 4.4%
$100,000 - $199,999 377 5.5 7,870 4.4 221,180 14.0
$200,000 - $299,999 691 10.2 32,471 18.2 384,150 24.3
$300,000 - $499,999 3,220 47.4 74,602 41.8 563,047 35.6
$500,000 - $999,999 2,170 31.9 46,082 25.8 285,504 18.0
$1,000,000 or more 112 1.6 12,929 7.2 60,787 3.8
Total 6,798 100.0% 178,492 100.0% 1,583,667 100.0%
Median Value $425,600 $399,500 $333,100
_________________
(1) Source: U.S. Department of Commerce.
Age Distribution Housing Units 2015 5-year estimates (1)
Canton Norfolk County Massachusetts
Year Built Number Percent Number Percent Number Percent
2000 or later 9998 10.9% 24,627 9.0% 240,035 8.5
1980 to 1999 2,432 26.5 49,671 18.2 514,947 18.2
1940 to 1979 4,235 46.1 123,618 45.4 1,111,194 39.3
1939 or Earlier 1,517 16.5 74,481 27.3 961,644 34.0
Total 9,182 100.0% 272,397 100.0% 2,827,820 100.0%
_________________
(1) Source: U.S. Department of Commerce.
Housing Unit Inventory 2015 5-year estimates (1)
Canton Norfolk County Massachusetts
Units in Structure Number Percent Number Percent Number Percent
1, Detached 5,838 63.6% 158,658 58.2% 1,474,897 52.2%
1, Attached 538 5.9 13,307 4.9 148,269 5.2
2 to 4 682 7.4 35,679 13.1 596,266 21.1
5 to 9 593 6.5 14,436 5.3 166,495 5.9
10 to 19 837 9.1 12,397 4.6 121,415 4.3
20 or More 694 7.6 36,797 13.5 295,922 10.5
Mobil Home, Trailer, or Other 0 0.0 1,123 0.4 24,556 0.9
Total 9,182 100.0% 272,397 100.0% 2,827,820 100.0%
_________________
(1) Source: U.S. Department of Commerce.
41Source page 51
Educational Attainment 2015 5-year estimates (1)
Canton Norfolk County Massachusetts
Years of School Completed Number Percent Number Percent Number Percent
Less than 9th Grade 214 1.4% 13,136 2.7% 220,055 4.8%
9th to 12th Grade, No Diploma 277 1.8 16,228 3.4 251,050 5.4
High School Graduate 2,642 16.8 100,457 21.0 1,169,375 25.4
Some College, No Degree 2,740 17.4 69,344 14.5 745,794 16.2
Associate’s Degree 1,330 8.4 37,120 7.8 357,133 7.7
Bachelor’s Degree 5,296 33.6 134,172 28.0 1,049,150 22.8
Graduate or Professional Degree 3,245 20.6 108,310 22.6 817,953 17.7
Total 15,744 100.0% 478,767 100.0% 4,610,510 100.0%
High School Graduate or Higher 15,253 96.9% 449,403 93.9% 4,139,405 89.8%
Bachelor’s Degree or Higher 8,541 54.2% 242,482 50.6% 1,867,103 40.5%
_________________
(1) Source: U.S. Department of Commerce.
Public School Enrollments (1)
Actual Projected
2012-13 2013-14 2014-15 2015-16 2016-17 2017-2018
Pre K – 4 1,328 1,346 1,328 1,308 1,347 1,323
Grades 5 - 8 1,036 1,051 1,086 1,065 1,027 1,022
Grades 9 - 12 898 858 914 943 954 1,008
Ungraded 50 66 57 59 51 51
Total 3,312 3,321 3,385 3,375 3,379 3,404
___________________
(1) Source: Massachusetts Dept. of Education - As of October 1, each school year.
School Facilities
School Capacity Oct. 2016 Enrollment
Canton High School 1,000 954
Galvin Middle School 800 787
Hansen Elementary 544 501
Kennedy Elementary 528 493
Luce Elementary 584 503
Rodman Pre-School 80 90
3,536 3,328
42Source page 52
LITIGATION
At present there are a number of suits pending in which the Town is a defendant. In the opinion of the Town, none of the
pending litigation is considered likely to result, either individually or in the aggregate, in final judgments which would
materially affect the Town’s financial position.
TOWN OF CANTON
Massachusetts
By: /s/ James R. Murgia
Finance Director/Treasurer
Dated: February 17, 2017
43Source page 53
APPENDIX A
The following Balance Sheets for fiscal years ending June 30, 2012 through 2016, and the Comparative Statements of
Revenues, Expenditures and Changes in Fund Balances for fiscal years ending June 30, 2012 through 2016, have been
taken from the audited financial statements of the Town. Powers & Sullivan, Certified Public Accountants audited the
accounts for the Town for 2011 through 2012.
The Town engaged Roselli, Clark & Associates, Certified Public Accountants, to audit the accounts for the Town for the
years ending June 30, 2013 through 2016. The June 30, 2016 audit is reproduced in Appendix B.
Certificate of Achievement for Excellence in Financial Reporting
The Certificate of Achievement for Excellence in Financial Reporting has been awarded to the Town by the Government
Finance Officers Association of the United States and Canada (GFOA) for its Comprehensive Annual Financial Report
(CAFR) for June 30, 2006 through June 30, 2015. 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 54
TOWN OF CANTON
MASSACHUSETTS
GENERAL FUND
Balance Sheet (1)
June 30,
2016 2015 2014
Assets
Cash and Cash Equivalents 16,304,708 $14,516,851 $13,388,921
Investments 3,982,225 2,960,871 2,971,619
Receivables, net of uncollectibles:
Real Estate and Personal Property Taxes 546,198 541,545 451,911
Tax Liens and Foreclosures 1,260,489 1,203,433 1,341,202
Motor Vehicle Excise Taxes 299,187 478,923 212,688
Intergovernmental 2,125,785 2,499,064 2,860,353
Due from Other Funds 699,024 293,589 39,618
Other Assets 1,715,366 1,213,076 651,390
Total Assets $26,944,221 $23,707,352 $21,917,702
Liabilities and Fund Balances
Liabilities
Warrants Payable $ 1,322,313 $ 957,884 $ 1,152,448
Accrued Payroll and Withholdings 3,531,574 3,849,178 3,562,869
Tax Refunds Payable 2,550,000 1,925,000 1,475,000
Other Liabilities 39,489 41,894 34,916
Deferred Revenues 0 4,344,867 4,624,671
Total Liabilities $ 7,443,376 $11,118,823 $10,849,904
Deferred Inflows of Resources
Unavailable Revenues- Property Taxes 1,369,195 0 0
Unavailable Revenues – Motor Vehicle Excise 299,187 0 0
Unavailable Revenues – Intergovernmental 2,125,785 0 0
Unavailable Revenues – Other 11,239 0 0
Total Deferred Inflows of Resources 3,805,406 0 0
Fund Balances
Committed 886,722 364,246 358,148
Assigned 1,846,942 793,408 893,993
Unassigned 12,961,771 11,430,875 9,815,657
Total Fund Balances $15,695,439 $12,588,529 $11,067,798
Total Liabilities
and Fund Balances $26,944,221 $23,707,352 $21,917,702
_____________________
(1) Excerpts from audited financial statements prepared by Roselli, Clark & Associates, Certified Public Accountants.
A-2Source page 55
TOWN OF CANTON
MASSACHUSETTS
GENERAL FUND
Balance Sheet (1)
June 30,
2013 2012
Assets
Cash and Short-Term Investments $18,785,224 $17,912,965
Receivables-net of
Uncollectible Amounts:
Property Taxes 576,418 621,348
Tax Liens and Foreclosures 1,531,791 1,330,045
Excise 547,033 106,840
Other Assets 228,660 7,149
Due from Other Funds 472,315 436,899
Due from Other
Governments (2) 3,210,035 3,605,923
Total Assets $25,351,476 $24,021,169
Liabilities and Fund Equity
Liabilities
Warrants Payable $ 1,131,795 $ 763,695
Payroll Payable 0 2,821,074
Accrued Payroll and Withholdings 3,849,178 0
Other Liabilities 29,963 358,064
Deferred Revenue (2) 5,620,685 5,472,257
Tax Refunds Payable 1,152,000 1,220,000
Total Liabilities $11,082,673 $10,635,090
Fund Equity (3)
Restricted (4) $ 5,160,240 $ 5,483,092
Committed 470,608 0
Assigned 361,035 784,891
Unassigned 8,276,920 7,118,096
Total Fund Equity $14,268,803 $13,386,079
Total Liabilities
and Fund Equity $25,351,476 $24,021,169
_____________________
(1) Excerpts from audited financial statements prepared by Powers and Sullivan, Certified Public Accountants.
(2) Includes State School Building Authority construction grant reimbursements.
(3) Effective fiscal 2011, due to GASB 54, there are changes in how Fund Balances are categorized and the Stabilization Fund is now
classified as part of the Unassigned General Fund Balance.
(4) Reserved for MSBA Grant.
A-3Source page 56
TOWN OF CANTON
MASSACHUSETTS
Combined Statement of Revenues, Expenditures and Changes in Fund Balances (1)
General Fund
(000 omitted)
Revenues 2016 2015 2014 2013 2012
Property Taxes $66,702 $63,274 $61,063 $59,064 $56,247
Payment in Lieu of Taxes 225 222 215 224 219
Tax Liens 147 352 783 220 372
Excises 4,556 4,120 3,715 3,474 3,204
Hotel and Meals Taxes 601 582 568 461 0
Penalties and Interest 254 311 344 324 263
Departmental and Other 1,240 1,102 951 789 485
Licenses and Permits 1,035 1,282 818 1,044 912
Intergovernmental - State 14,192 11,910 16,882 16,482 15,228
Fines and Forfeits 120 113 141 110 99
Earnings on Investments 168 142 145 82 122
MSBA Capital Grant 0 0 0 0 0
Total Revenues 89,240 83,410 85,625 82,274 77,151
Expenditures
General Government 3,979 3,806 4,256 3,589 3,464
Public Safety 10,352 10,038 9,745 9,438 8,887
Education 37,781 36,052 34,942 33,426 32,222
Public Works 4,809 5,024 4,649 4,308 3,790
Human Services 1,003 826 794 770 782
Culture and Recreation 1,918 1,698 1,703 1,513 1,465
Debt Service 4,993 4,986 6,140 6,063 5,967
Intergovernmental Charges 927 945 960 960 875
Employee Benefits 11,384 11,500 11,081 10,226 10,304
Pension Benefits 9,802 7,321 11,915 11,733 11,325
Total Expenditures 86,949 82,196 86,185 82,026 79,081
Excess (Deficiency) of Revenues Over
Expenditures 2,292 1,215 (560) 248 (1,929)
Other Financing Sources (Uses)
Premium from Issuance of Debt 11 109 2,259 101 55
Proceeds from Refunding Bonds 515 0 15,185 0 0
Payments of Refunded Bonds (526) 0 (21,740) 0 0
Operating Transfers - In 1,648 1,026 2,677 2,260 2,380
Operating Transfers - Out (833) (830) (1,023) (1,726) (349)
Total Other Financing Sources (Uses) 815 305 (2,641) 635 2,086
Excess (Deficiency) of Revenues and
Other Financing Sources Over
Expenditures and Other Financing Uses 3,107 1,520 (3,201) 883 158
Fund Balance – Beginning (2) 12,589 11,068 14,269 13,386 13,228
Fund Balance - Ending $15,695 $12,589 $11,068 $14,269 $13,386
____________________
(1) Excerpts from audited financial statements of the Town. Totals may not add due to rounding.
(2) Effective fiscal 2011, due to GASB 54, there are changes in how Fund Balances are categorized and the Stabilization Fund is now
classified as part of the General Fund.
A-4Source page 57
APPENDIX B
There follows in this Appendix the audited financial statements of the Town of Canton, Massachusetts, as of June 30,
2016 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.
B-1Source page 58
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Source page 59
TOWN OF CANTON, MASSACHUSETTS
COMPREHENSIVE ANNUAL FINANCIAL REPORT
For the Fiscal Year Ended
June 30, 2016Source page 60
On the cover and below: The Town recently completed construction of an eight classroom addition to the Lt. Peter M. Hansen Elementary School. This addition will alleviate increasing enrollment concerns while enabling more children to attend an elementary school in their neighborhood.
Source page 61
Town of Canton, Massachusetts
Comprehensive Annual Financial Report
For the Fiscal Year
July 1, 2015 through June 30, 2016
Prepared by the Finance DepartmentSource page 62
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Source page 63
TOWN OF CANTON, MASSACHUSETTS
COMPREHENSIVE ANNUAL FINANCIAL REPORT
YEAR ENDED JUNE 30, 2016
TABLE OF CONTENTS
Page(s)
INTRODUCTORY SECTION
Letter of Transmittal ....................................................................................................................... 1-10
Certificate of Achievement For Excellence in Financial Reporting................................................. 11
Organizational Chart Town .............................................................................................................. 12
Organizational Chart Schools ........................................................................................................... 13
Principal Town Officials .................................................................................................................. 14
FINANCIAL SECTION
Independent Auditor’s Report ....................................................................................................... 15-17
Management’s Discussion and Analysis ....................................................................................... 19-31
Basic Financial Statements:
Statement of Net Position .......................................................................................................... .35
Statement of Activities ................................................................................................................ 36
Balance Sheet – Governmental Funds ....................................................................................... 37
Reconciliation of the Governmental Funds Balance Sheet Total Fund Balances to
the Statement of Net Position ............................................................................................ 38
Statement of Revenues, Expenditures and Changes in Fund Balances –
Governmental Funds ........................................................................................................... .......39
Reconciliation of the Statement of Revenues, Expenditures and Changes in Fund
Balances of Governmental Funds to the Statement of Activities ..................................... 40
Statement of Net Position – Proprietary Funds .......................................................................... 41
Statement of Revenues, Expenses, and Changes in Net Position – Proprietary Funds.............. 42
Statement of Cash Flows – Proprietary Funds ........................................................................... 43
Statement of Fiduciary Net Position .......................................................................................... .44
Statement of Changes in Fiduciary Net Position ....................................................................... 45
Notes to Basic Financial Statements ....................................................................................... 46-77
Required Supplementary Information:
Schedule of the Town’s Proportionate Share of the Net Pension Liability ............................... 80
Schedule of the Town’s Contribution to Pension Plan .............................................................. 80
Schedule of the Commonwealth’s Collective Share of Net Pension Liability –
Massachusetts Teachers’ Retirement System...................................................................... 81
Schedule of Funding Progress – Other Postemployment Benefits ............................................ 82
Schedule of Contribution Funding – Other Postemployment Benefits ...................................... 82
Schedule of Revenues, Expenditures and Changes in Fund Balances – Budget and
Actual – General Fund .................................................................................................. 83-85
Notes to Required Supplementary Information ....................................................................... 86
Combining Statements:
Nonmajor Governmental Funds ............................................................................................ 89-90
Combining Balance Sheet – Nonmajor Governmental Funds ........................................ 92-94
Combining Statement of Revenues, Expenditures, and Changes in Fund
Balances – Nonmajor Governmental Funds ........................................................... 96-98
iSource page 64
TOWN OF CANTON, MASSACHUSETTS
COMPREHENSIVE ANNUAL FINANCIAL REPORT
YEAR ENDED JUNE 30, 2016
TABLE OF CONTENTS
Page(s)
Internal Service Funds ............................................................................................................ 99
Combining Statement of Net Position – Internal Service Funds ...................................... 100
Combining Statement of Revenues, Expenses and Changes in Net Position –
Internal Service Funds ............................................................................................. ......101
Combining Statement of Cash Flows – Internal Service Funds ....................................... 102
Fiduciary Funds ...................................................................................................................... 103
Statement of Changes in Assets and Liabilities – Agency Fund ..................................... 104
STATISTICAL SECTION
Narrative ..................................................................................................................................... 105
Net Position by Component – Last Ten Fiscal Years...................................................................... 107
Changes in Net Position – Last Ten Fiscal Years ....................................................................... 108-109
Fund Balances, Governmental Funds – Last Ten Fiscal Years ....................................................... 110
Changes in Fund Balances, Governmental Funds – Last Ten Fiscal Years .................................... 111
Assessed Value and Estimated Actual Value of Taxable Property By Classification
and Tax Rates – Last Ten Fiscal Years............................................................................ 112
Principal Taxpayers – Current Year and Nine Years Ago .............................................................. 113
Property Tax Levies and Collections – Last Ten Fiscal Years........................................................ 114
Ratios of Outstanding Debt by Type – Last Ten Fiscal Years ........................................................ 115
Ratios of General Bonded Debt Outstanding .................................................................................. 116
Computation of Legal Debt Margin – Last Ten Fiscal Years ......................................................... 117
Direct and Overlapping Governmental Activities Debt .................................................................. 118
Demographic and Economic Statistics – Last Ten Fiscal Years ..................................................... 119
Principal Employers (Excluding Town) – Current Year and Nine Years Ago ............................... 120
Full-time Equivalent Town Employees by Functions – Last Ten Fiscal Years .............................. 121
Operating Indicators by Function/Program – Last Ten Fiscal Years .............................................. 122
Capital Asset Statistics by Function/Program – Last Ten Fiscal Years .......................................... 123
iiSource page 65
Introductory Section Brightview Canton recently opened its community of 160 apartment homes for seniors which includes independent living, dedicated assisted living and a specialized program and environment for people living with Alzheimer’s and other forms of dementia.
Source page 66
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Source page 67
Letter of Transmittal
November 17, 2016
Honorable Board of Selectmen and Citizens of the Town of Canton, Massachusetts:
I am pleased to acknowledge that the Town of Canton has completed its eleventh Comprehensive Annual
Financial Report (CAFR). The report is for the fiscal year ended June 30, 2016, and I am proud that we
have continued this annual tradition of preparing a report that communicates to our constituents and
investors the highest degree of transparency in financial reporting for municipalities.
The Town is responsible for the accuracy, completeness and fairness of the data presented in the CAFR.
This letter of transmittal and the management’s discussion and analysis, located in the financial section
of the CAFR, provide a comprehensive financial overview of the Town and ensure that the financial and
general operations of Town government remain open for easy viewing.
The CAFR represents a complete set of financial statements in conformity with generally accepted
accounting principles in the United States of America (GAAP), that are audited in accordance with
generally accepted auditing standards by a firm of licensed certified public accountants. This CAFR
meets and exceeds those requirements and presents itself as an informative resource for all those
interested in the financial activities of the Town.
The report is designed to be used by the elected and appointed officials of the Town and others who are
concerned with its management and progress such as bond analysts, banking institutions and rating
agencies as well as the citizens and taxpayers of the Town of Canton.
Since the report consists of management’s representations concerning the finances of the Town,
management assumes full responsibility for the completeness and reliability of all of the information
presented. In addition, management of the Town is responsible for establishing and maintaining an
internal control structure designed to ensure the assets of the Town are protected from loss, theft or
misuse and to ensure that adequate accounting data is compiled to allow for the preparation of financial
statements in conformity with GAAP. Because the cost of internal controls should not outweigh their
benefits, the Town of Canton’s comprehensive framework of internal controls has been designed to
provide reasonable rather than absolute assurance that the financial statements will be free from material
misstatement.
Town of Canton, Massachusetts Page 1 of 123 Comprehensive Annual Financial ReportSource page 68
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 annually provide reasonable
assurance that the financial statements of the Town are free of material misstatement. The independent
audit involved examining, on a test basis, evidence supporting the amounts and disclosures in the
financial statements; assessing the accounting principles used and significant estimates made by
management; and evaluating the overall financial statement presentation. The independent auditor
concluded, based upon the audit, that there was a reasonable basis for rendering an unmodified opinion
that the Town’s financial statements for the fiscal year ended June 30, 2016 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 OMB Circular A-133.
GAAP requires that management provide a narrative introduction, overview, and analysis to accompany
the basic financial statements in the form of Management’s Discussion and Analysis (MD&A). This letter
of transmittal is designed to complement that analysis and should be read in conjunction with it. The
MD&A can be found immediately following the report of the independent auditors.
Profile of the Town
Canton was incorporated as a Town in 1797. The Town is located in eastern Massachusetts,
approximately 18 miles southwest of Boston, has a population of approximately 21,000 and a land area of
approximately 19 square miles. It is situated at the junction of Interstates 95 and 93, with access to Routes
24 and 138, providing an excellent location for residents, businesses and commuters.
Town of Canton, Massachusetts Page 2 of 123 Comprehensive Annual Financial ReportSource page 69
MBTA commuter rail trains on the Providence/Stoughton Line pass through Canton. Some stop at Canton
Junction. This line crosses the Neponset River on the Canton Viaduct, a prominent local landmark. Route
128 Station in neighboring Westwood also carries many Canton commuters into Boston. Amtrak trains
(including the Acela Express high-speed trains) also stop at Route 128, but pass through Canton without
stopping. Another line branches into Stoughton, stopping at Canton Center.
Bus service is available to Mattapan Station in the MBTA system, and Canton’s close proximity to
Boston also places it within a reasonable distance from Logan International Airport, the largest
transportation center in New England.
The Town has a rich and varied industrial heritage, serving as the location of Paul Revere’s copper rolling
mills in post-Colonial times, and as the site of rubber, chemical and woolen manufacturing in more recent
times. Present commercial enterprises play a key role in the Town’s fiscal stability and are considered a
major asset to the community. The prime commercial areas are well located so as to allow direct highway
access without affecting the community’s small town charm.
Many of the Town’s lakes, ponds and wetlands have been protected and preserved for present enjoyment
and future generations. Among the protected areas are the Eleanor Cabot Bradley Reservation, an 82 acre
estate that blends open fields, woodlands and gardens in the shadow of Great Blue Hill and Pequitside
Farm, a town-owned 38 acre conservation and recreation area which offers playing fields, picnicking,
hiking and cross country skiing.
The Town offers a full range of traditional municipal services including police and fire protection,
ambulance and rescue services, education, maintenance of streets and infrastructure, solid waste
collection and disposal, health and human services, cultural and recreational, administrative and financial
services. The Town is a member community of the Massachusetts Water Resources Authority (MWRA)
for its water and sewer services.
Canton prides itself on its quality school system. Canton students consistently perform well on national
and state tests and over 90% of students graduating from the high school go on to higher education. The
Town is the location of the Blue Hills Regional Technical School which provides expanded vocational
education opportunities for high school students of Canton and eight other area communities. Canton is
also home to one of the two campuses of Massasoit Community College. The campus is a multi-level
facility with specialized labs and art studios that support the technical and visual arts programs of the
College. The campus also includes the Milton Art Museum, Akillian Gallery and the College’s
Professional Development Center.
Almost 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 appeals process that can overturn local zoning board decisions.
This has allowed the Town to maintain its commitment to developing much needed affordable housing
units in areas of the Town that can accommodate the growth.
The Town operates under the Selectmen, Town Administrator, and Open Town Meeting form of
government. The five elected Selectmen make policy decisions, and the Town Administrator is
responsible for carrying out the policies of the Selectmen and for managing the day-to-day operations of
the Town. The policies and procedures of the Board of Selectmen are detailed in the administrative code
that will continue to evolve and be created over time to best serve the community.
Town of Canton, Massachusetts Page 3 of 123 Comprehensive Annual Financial ReportSource page 70
An elected, five-member School Committee appoints a School Superintendent who administers the public
school system of the Town. School Committee members, like the Selectmen, are elected at-large to three-
year staggered terms.
An annual operating budget is approved by Town Meeting two months prior to the start of the fiscal year.
This annual budget serves as the foundation for the Town’s financial planning and control. The budget is
prepared by fund, function (e.g. general government) and department (e.g. finance) allowing the
department heads to allocate resources within the department as they see fit. Transfers between
departments, however, need special approval by Town Meeting unless specifically exempted by state
statute.
Factors Affecting Economic Condition
Canton continues to take a pro-active approach encouraging well planned economic development. The
Town fully appreciates the significance of commercial and industrial growth and development (and
redevelopment) especially in terms of long term fiscal stability. The Town continues its focus on future
growth, which is sustainable and “complimentary” for economic development including employment
opportunities for our residents.
Municipal officials continue to work closely with and receive valuable support from the State Office of
Business Development as well as regional planning support from the Metropolitan Area Planning Council
(MAPC). In addition business advocacy organizations, such as Canton Association of Business and
Industry (CABI) play a vital role. The Town strives to take full advantage of the latest initiatives and
incentives made available to it notably under Chapter 43D for expedited permit approvals and Tax
Incremental Financing (TIF).
The Town’s Economic Development Committee (EDC) is also a special resource. The Town regularly
takes advantage of local talent from the community who specialize in finance, banking, development and
real estate.
The Town continues to update and publish an economic development recruitment guide which includes
pertinent information sought by private company CEO’s when making siting and expansion decisions.
Recently, the Board of Selectmen published a new business and community guide and has made that
information available online as well.
As previously discussed, the Town surpassed its required l0% affordable housing goal as required by
State regulation. The Town has incorporated a continued affordable housing unit goal, within the Housing
Action Plan, to ensure the Town keeps pace with any new market rate unit starts. This year the
construction by Avalon Development of additional affordable housing will commence on Randolph Street
and further increase the Town’s 40B compliance.
The Town’s commitment to sound economic development is further demonstrated by creating
partnerships with (MAPC) Metropolitan Area Planning Council and Neponset Valley Chamber of
Commerce to ensure that the coordination and resource allocation on key planning issues facing the
Town. The Town reactivated the Economic Development Committee and created, with Town Meeting,
the Permit Advisory Committee both of which provide technical assistance to new businesses to Canton.
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
Town of Canton, Massachusetts Page 4 of 123 Comprehensive Annual Financial ReportSource page 71
priority development sites. This 43D designation, which was granted to the Town in 2008, came with a
$150,000 grant to hire a permit specialist who has completed the administrative and organizational work
necessary to implement the issuance of permits via an integrated and automated town wide permit system
which better serves the public and the Town in terms of real time tracking of permits.
The Town has available a permit guidebook, which lays out the Town’s permitting requirements in an
easy to use format. The goal is to identify key requirements and improve communications, saving
applicants time and money. The Permit Advisory Committee has been a successful endeavor by bringing
together key permit granting agency representatives to counsel and guide any proponent of a proposed
commercial endeavor. Participation and results continue to be overwhelmingly positive. The Town has
also published a Tax Incremental Financing Evaluation Policy document designed to provide a rational
and consistent intake evaluation of TIF requests. The new approach allows the Town to quantify and
better evaluate any request to reduce taxes for a business seeking to locate or expand. Also, the Town
launched a Payment in Lieu of Taxes Program (PILOT) that encourages non-taxable property owners to
voluntarily participate in the support of public services.
The Town has completed construction of the downtown revitalization project commonly referred to as the
Streetscape Improvement Project. This work was funded as a result of a $2.6 million dollar
Commonwealth grant received
due to the Town’s Smart
Growth efforts and rezoning of
the Downtown.
The Town has also completed
safety and efficiency
improvement work on two key
intersections ($2.2 million
dollar Commonwealth grant)
located in the heart of the
Route 138 business district.
These intersections are located
at the Randolph and
Washington Street
Intersections with Route 138.
These projects have improved both the safety and efficiency of this commercial roadway. In addition, the
Board of Selectmen has also empanelled a multi-disciplined group of volunteers who have completed a
visioning process which has led to a variety of re-zoning recommendations with a goal of improving the
business climate and enhance zoning flexibility to spur additional economic development potential along
this vital commercial roadway.
The Town was also a participant in a regional planning study to evaluate the effects of new growth in
both residential and commercial construction. The study’s focus was to identify growth related problems
such as transportation, infrastructure, environmental, and economic development issues. In addition, a
build-out analysis was completed to assist and improve public policy decision-making with regard to
growth and development related to educational planning. These studies have been coordinated with other
immediate area communities.
The Town is in the process of evaluating the opportunities and or impacts of the South Coast Rail Project
which is advancing through preliminary and environmental design. The State initiative would provide rail
service from Boston to Fall River/New Bedford via a route now determined by the State, known as the
Stoughton Alternative, which will include impacts in Canton.
Town of Canton, Massachusetts Page 5 of 123 Comprehensive Annual Financial ReportSource page 72
In 2010 the Town received a MORE grant in the amount of $850,000 and completed infrastructure
improvements along Dan Road, an important commercial area of Town. After much effort, the Town
secured the commitment of
Organogenesis, a bio tech firm, now
located on Dan Road, which was
contemplating relocation. The
Company’s commitment to stay in
Canton and expand was an important
part of the Town’s success in obtaining
this new funding.
Canton’s Master Plan Initiative
required a careful review and analysis
of existing conditions balanced with a
vision for the future. The work
program is designed to enlist public
interest and participation in shaping the
Town’s future. Workshops,
neighborhood meetings, leadership interviews and community surveys were conducted. The Town has
conducted an extensive public outreach campaign to better assure good attendance at workshops and
neighborhood focus groups. Existing planning, engineering reports and documents have been reviewed
and a written report, which summarizes their major issues and relevant recommendations were prepared
and remains available. The overall objective of the Master Plan initiative was to develop a sustainable
residential and business development strategy for the
Town.
Brightview Canton recently opened its community
of 160 apartment homes for seniors which includes
independent living, dedicated assisted living and a
specialized program and environment for people
living with Alzheimer’s and other forms of
dementia. This added to existing residential
developments such as Windsor Woods, Indian
Woods, Pequit View and Blue Hill Commons; and
provide a nice compliment to commercial
developments such as Dunkin Brands with their worldwide corporate headquarters along with other top
Canton companies such as Meditech, Network Engines, One Beacon, Boston Mutual, Computershare,
LoJack and Pepsi.
The Town’s planning focus also includes
improvements to the highway system that
serves the Town and the region. Now
underway is the Route 128 Add-a-Lane Project,
which is federally funded with expected
completion this year.
Town of Canton, Massachusetts Page 6 of 123 Comprehensive Annual Financial ReportSource page 73
Another objective of the Master Plan Initiative was to address the often-conflicting goals of economic
development and resource protection. Sustainable development providing for economic growth that is
compatible with resource protection remains an important Town focus. The Town’s approach includes
promoting economic development that is supported by adequate infrastructure. Thus, the dual objectives
of the Master Plan Initiative remain to provide for economic growth which is (1) compatible with
resource protection and (2) supported by adequate infrastructure. To ensure this, the Town embarked on a
four-town regional planning initiative, which is still ongoing. The Towns of Canton, Dedham, Norwood
and Westwood share a common watershed and an interlinked highway system. The Towns continue to
work together and meet regularly to discuss economic development on a regional basis. This regional
planning initiative encourages and reminds area towns that, despite borders, what happens in another
neighboring community may have an impact, both positive and potentially negative, on one another. The
Towns plan and communicate to shape growth, protect water resources, transportation infrastructure and
to insure support and advocacy for growth in the region - to everyone’s benefit. This group continues to
pursue State and Federal funding for the replacement of the Interstate 95 and Interstate 93 Interchange, a
source of safety concerns and traffic tie-ups.
The Town recently entered into a long-term lease of its capped landfill to be used by a private entity to
install solar panels on fifteen acres of the site at no cost to Canton. The lease provides the Town with
guaranteed payments of $20,000 per acre, per year, while allowing the Town the ability to purchase all
the electricity generated by this 5.6 megawatt facility at a substantial savings. The Pine Street Solar
Facility went online August 15, 2012 (one of the largest in the Northeast) and provided over $100,000 in
net metering credits savings to the Town, along with lease payments totaling $300,000 in new recurring
operating revenue increasing annually by 2.5%.
In summary, Town leaders recognize the importance of maintaining a stable tax situation for its residents.
Development on the commercial side helps accomplish this goal and the Town continues to seek out the
means to maintain vigilance in this area.
Property Taxes The growth of the Town’s main source of revenues, property taxes, is capped by
Proposition 2 ½ and can only be overridden through a ballot by the voters. While revenue increases have
been limited in recent years, fixed costs, including health insurance and pension costs, have increased
more proportionally. As a result, balancing the annual budget is a challenge without an appropriation
from free cash. The Town attempts to mitigate this impact by conservatively forecasting revenues thus
creating free cash in the subsequent year.
Several years ago, the Town’s management made the difficult choice to cut services and raise fees in
order to balance the budget. With more cuts looming in future years, the Town’s voters approved a $4.5
million Proposition 2 ½ tax override for fiscal year 2009 that allowed for the restoration of most of the
budget cuts from the prior years. The tax override was planned to be phased in over a three year period
with an annual cost to the average residential homeowner of $450. In addition, effective fiscal year
2013, the Town negotiated changes to its health insurance plans that required higher out of pocket costs
from its employees and retirees but stabilized rates. These initiatives have allowed the Town to maintain a
consistent level of reserves from year to year and continue to make contributions to its OPEB Trust Fund.
The Town’s available reserves on a GAAP basis represent the amount in unassigned fund balance. As
discussed previously, the Town’s reserves have been increasing on an annual basis since the stabilization
of the recession in 2011. This has been a direct result of the initiatives implemented by management as
discussed in the previous paragraph.
Town of Canton, Massachusetts Page 7 of 123 Comprehensive Annual Financial ReportSource page 74
These strong reserve levels, when combined with the Town’s strong management practices, desirable
location in a strong metropolitan statistical area,
assessed valuations and strong wealth factors directly Unassigned Fund Balances (Millions)
contributed to an upgrade in the Town’s bond rating
from ‘AA+’ to ‘AAA’. This is the highest investment 14.0
grade possible. The override and the resulting revenue 12.0
flexibility to restore lost services and stabilize budgets 10.0
in future fiscal years were cited as prominent factors 8.0
in the upgrade. The Town is committed to 6.0
maintaining its reserves at a level expected from
4.0
communities that engender the highest bond rating.
2.0
2010 2011 2012 2013 2014 2015 2016
Long-term Financial Planning
Several years ago, the Town implemented a policy of preparing rolling projections. The Town believes
this will provide better insight when preparing annual budgets and will also alert the Town to any
potential budgeting issues far ahead of when these situations become real issues.
The following represents the Town’s summarized budgets for each of the next five years:
2017 2018 2019 2020 2021
Revenues and Other Sources
Real Estate and Personal Property Taxes $ 70,372,501 $ 73,022,834 $ 75,385,091 $ 77,955,359 $ 80,624,657
State Aid 8,224,875 8,224,875 8,224,875 8,224,875 8,224,875
Local Receipts 6,263,040 6,268,815 6,274,736 6,280,804 6,287,025
Transfers and Other Sources 2,267,025 2,246,829 2,267,893 2,289,514 2,320,793
Total Revenues 87,127,441 89,763,353 92,152,595 94,750,552 97,457,350
Expenditures and Other Uses
Education Budget 38,572,710 39,747,716 40,830,679 42,129,296 43,354,157
Municipal Budget 19,016,901 19,786,494 20,325,595 20,972,050 21,581,787
Fixed Costs 26,947,494 27,841,715 28,577,385 29,197,743 29,936,364
State and County Charges 1,002,359 987,428 1,018,936 1,051,463 1,085,042
Capital costs 2,127,000 1,400,000 1,400,000 1,400,000 1,500,000
Total Expenditures 87,666,464 89,763,353 92,152,595 94,750,552 97,457,350
Surplus/(Deficit) $ (539,023) $ - $ - $ - $ -
Capital Improvements and Financing
The Town continues to invest in infrastructure improvements such as roads, sewers, and water supply
facilities, as well as various municipal and school facility upgrades. These include: Town Hall, Library,
Public Safety Facilities, Public Works and School building improvement projects.
In addition, the Town has completed the construction of two new water filtration plants. These water
filtration plants will provide state of the art water filtration capabilities and allow for the use of local
Town of Canton, Massachusetts Page 8 of 123 Comprehensive Annual Financial ReportSource page 75
source water to reduce operating costs, improve water availability (including redundancy) and filtrate
water for customers with the most technologically advanced system available today.
Recently the Town completed renovations of a former Knights of Columbus Hall and turned it into the
new Senior Center located at 500 Pleasant Street to address the growing, aging population in need of
expanded and updated senior services.
In addition the Town completed repairs to Shepard Pond dam which was classified by the state as being a
Significant Hazard Dam in poor condition. To help fund this repair project, the Town received a grant
award of $665,000 from the Commonwealth and a $335,000 low interest loan from the Executive Office
of Environmental Affairs.
Construction of an eight classroom addition to the Lt. Peter M. Hansen Elementary School was also
completed recently. This addition will alleviate increasing enrollment concerns while enabling more
children to attend an elementary school in their neighborhood.
As part of the annual budget process, the Capital Planning Committee (CPC) recommends the capital
budget for the upcoming year and prepares a five-year plan to address the long-term capital needs of the
Town. The capital spending plan for the five year period from fiscal year 2016 through fiscal year 2020
has an estimated cost of $25.8 million, with $8.0 million to be funded from estimated revenues with the
remainder to be funded from the issuance of bonds. The CPC’s capital plan has allocated $6.2 million for
municipal departments, $5.9 million for the school department, $9.0 million for the water enterprise fund,
$4.2 million for the sewer enterprise fund, and $415,000 for the rink enterprise fund.
The Town’s target set aside to finance its capital plan is 5% to 6% of recurring revenues. A portion of its
annual capital plan funds smaller capital projects on a pay-as-you-go basis through recurring revenues
while larger capital projects are financed through borrowing.
Awards and Acknowledgements
The Government Finance Officers Association of the United States and Canada (GFOA) awards a
Certificate of Achievement for Excellence in Financial Reporting. This is a very prestigious award and
in order to be awarded a Certificate of Achievement, a government must publish an easily readable and
efficiently organized comprehensive annual financial report. This report must satisfy both generally
accepted accounting principles and applicable legal requirements.
The GFOA awarded this Certificate of Achievement for Excellence in Financial Reporting to the Town of
Canton for its comprehensive annual financial report for the fiscal year ended June 30, 2015. This was
the tenth year that the Town has achieved this prestigious award.
A Certificate of Achievement is valid for a period of one year only. We believe that our current
comprehensive annual financial report will meet the Certificate of Achievement Program’s requirements,
and we are submitting it to the GFOA to determine its eligibility for this certificate.
The publication of this CAFR represents an important achievement in the ability of the Town of Canton
to provide enhanced financial information and accountability to its citizens, elected and appointed
officials, and investors. The preparation of this report would not have been possible without the efficient
and dedicated services of the entire staff of the Finance Office.
Town of Canton, Massachusetts Page 9 of 123 Comprehensive Annual Financial ReportSource page 76
Special thanks also go to the certified public accounting firm of Roselli, Clark and Associates for their
advice and assistance in the preparation of this report.
Respectfully submitted,
Charles J. Aspinwall
Town Administrator
James R. Murgia
Finance Director
Town of Canton, Massachusetts Page 10 of 123 Comprehensive Annual Financial ReportSource page 77
Government Finance Officers Association
Certificate of
Achievement
for Excellence
in Financial
Reporting
Presented to
Town of Canton
Text38:
Massachusetts
For its Comprehensive Annual
Financial Report
for the Fiscal Year Ended
June 30, 2015
Executive Director/CEO
Town of Canton, Massachusetts Page 11 of 123 Comprehensive Annual Financial ReportSource page 78
Board Planning of Health Board TOWN OF CANTON, MASSACHUSETTS ORGANIZATIONAL CHART Board of Selectmen Appointed Multiple Member Bodies Moderator Personnel Adv. Board Building [Renovations Committee Building & Zoning Department Building Commissioner Canton Representative Veteran's Office Veteran's Director Director Public Health -Industrial Development Commission Building Police Fire Dept. of Human Department Council Recreation Conservation Maintenance ‘ Resource of Finance ‘ ws ae Department | [Department | | Public Works Densikwank on Aging | | Commission Commission Police Fire Superintendent Human Finance CoA Recreation Conservation - _ o! Resource 2 , . Commission Chief Chief Public Works | | Administrator Director Director Director Agent Page 12 of 123 Comprehensive Annual Financial Report Town of Canton, Massachusetts an Board Board of Library Clerks y of Selectmen Trustees Office Town Town Town Planner Clerk Administrator Executive Town Counsel Assistant Town Planner Administrative Secretary Sealer of Weights and Measures Secretary Register of Voters Comm. on Disability -Zoning Board.of Appeals -Water/Sewer Rate Policy Commission -Youth Commission -Historical Commission -Fair Housing Committee Cable Advisory Committee Beautification Committee -Conservation Commission Council on Aging -Industrial Develop. Financing Authority -Local Emergency Planning Committee -Traffic Study Committee [Original embedded text, retained for comparison] Town of Canton, Massachusetts Page 12 of 123 Comprehensive Annual Financial Report
Source page 79
CANTON PUBLIC SCHOOLS
CANTON SCHOOL COMMITTEE
ADMINISTRATIVE ASSISTANT TO THE
SUPERINTENDENT/SCHOOL COMMITTEE
SUPERINTENDENT OF SCHOOLS
DIRECTOR .OF CURRICULUM SCHOOL BUSINESS
BUILDING PRINCIPALS DIRECTOR OF
and INSTRUCTION ADMINISTRATOR
STUDENT SERVICES
WIDE AREA EDUCATIONAL SCHOOL
NETWORK TECHNOLOGY SECRETARIES ASSISTANT
SCHOOL COUNCIL SECRETARIES
ADM. ADM.. PRINCIPALS ADMINISTRATIVE ASST.
CAPT.
SPED
K-5 READING PARENT GROUPS
PARENT
BUILDING SPECIALISTS SPECIAL EDUCATION, ADVISORY
TECHNOLOGY DISTRICT ACCOUNTS
FACULTY BUILDING 504, ALT. ED. COUNCIL PAYROLL
SPECIALISTS DEPARTMENT PAYABLE
AND STAFF DEPARTMENT STUDENT SERVICES
COORDINATORS
COORDINATORS FACULTY AND STAFF
COMPUTER PROFESSIONAL
DIRECTOR OF
TEACHERS DEVELOPMENT
CHARMSS FOOD SERVICES
COMMITTEE
CUSTODIANS COLLABORATIVE
FACILITIES
PRIVATE SCHOOLS
DIRECTOR
CAFETERIA
MANAGERS/
CUSTODIANS/ WORKERS
MAINTENANCE
TRANSPORTATION
COORDINATOR
HEALTH
SERVICES
Town of Canton, Massachusetts Page 13 of 123 Comprehensive Annual Financial ReportSource page 80
PRINCIPAL TOWN OFFICIALS
Elected Officials
Board of Selectmen Robert E. Burr Jr., Chairman
Mark J. Porter, Vice Chairman
Kevin T. Feeney, Clerk
Victor D. Del Vecchio, Member
John J. Connolly, Member
School Committee John Bonnanzio, Chairman
Michael Loughran, Vice Chairman
Kristin Mirliani, Secretary
Reuki Schutt, Member
Meg Gannon, Member
Principal Executive Officers
Town Administrator Charles Aspinwall
Finance Director James R. Murgia
Town Accountant Kathy Dooley Butters
Superintendent of Schools Jennifer Fischer-Mueller
School Business Administrator Barry Nectow
Police Chief Kenneth N. Berkowitz
Fire Chief Charles E. Doody
DPW Superintendent Michael T. Trotta
Town of Canton, Massachusetts Page 14 of 123 Comprehensive Annual Financial Report