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HomeMy WebLinkAbout2019-10-17 Revenue and Fixed Cost Committee Minutes (2) FY21 Revenue Projection Detail Town Mgr Preliminary per RFCC Recommended Recommended %Increase FY20 Actual Actual Actual Budget Recap YTD as of 9/30/19 Projected Projections Projections Recap to FY20 FY2017 FY2018 FY2019 FY2020 FY2020 FY2020 FY2020 FY2021 FY2021 RFCC/TM Recm'd PROPERTY TAX LEVY Tax Limit 66,535,334 68,769,490.14 71,355,993.39 74,267,520.22 74,267,520.22 0 76,774,208.23 76,774,208.23 Add 2.5% 1,663,383 1,719,237.25 1,783,899.83 1,856,688.01 1,856,688.01 0 1,919,355.21 1,919,355.21 full 2.5% Add New Growth 570,773 867,266.00 1,127,627.00 650,000.00 650,000.00 0 650,000.00 650,000.00 level funded to FY20 Add Override 0 0 0 0.00 0.00 0 0.00 0.00 Levy Limit 68,769,490 71,355,993.39 74,267,520.22 76,774,208.23 76,774,208.23 0 79,343,563.43 79,343,563.43 +Debt Exclusion(s) 1,922,516 1,911,606.26 659,559.38 414,475.00 414,475.00 0 403,825.00 403,825.00 -SBA Reimb.-EXCLUDED DEBT 0 0.00 0 0.00 0.00 0 0.00 0.00 -Debt Exclusion Adjustment 0 0.00 0 0.00 0.00 0 0.00 0.00 -Bond Premium 0 0.00 0 0.00 0.00 0 0.00 0.00 -SBA interest reimb-High School (68,926) (68,926.15) (68,926.15) (68,926.15) (68,926.15) 0 (68,926.15) (68,926.15) sub total Excluded Debt 1,853,589 1,842,680.11 590,633.23 345,548.85 345,548.85 0 334,898.85 334,898.85 Max Levy 70,623,080 73,198,673.50 74,858,153.45 77,119,757.08 77,119,757.08 0 79,678,462.28 79,678,462.28 GENERAL FUND PROPERTY TAXES Property Tax(Net of debt exclusions) 67,354,000 70,097,752.31 71,262,494.14 76,774,208.23 76,774,208.23 18,313,952.40 76,774,208.23 79,343,563.43 79,343,563.43 3.35% Debt Exclusions 1,853,589 1,842,680.11 1,842,680.11 345,548.85 345,548.85 345,548.85 345,548.85 334,898.85 334,898.85 -3.08% Rollback Taxes 1,338 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Deferred Property Taxes 0 63,820.98 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Tax Title 437,599 387,540.96 392,181.72 0.00 0.00 141,431.12 141,431.12 0.00 0.00 Actual Levy 69,646,527 72,391,794.36 73,497,355.97 77,119,757.08 77,119,757.08 18,800,932.37 77,261,188.20 79,678,462.28 79,678,462.28 3.32% Local Receipts Motor Vehicle Excise Motor Vehicle Excise 4,753,698 5,110,944.92 5,149,362.33 4,800,000.00 4,800,000.00 420,506.62 4,800,000 4,800,000.00 0.00 -100.00%5 yr averageFY15-FY19($4,793,425) 8.96% 0.00% Other Excise Jet Fuel Tax 9,428 12,808.20 50.97 0.00 0.00 0.00 0 0.00 0.00 0.00%no longer receive this revenue Meals Tax 563,229 570,806.69 602,714.55 590,000.00 590,000.00 154,454.80 617,819 602,715.00 0.00 -100.00%level with FY19 Actual Forest Products Tax 0 0.00 0.00 0.00 0.00 0.00 0 0.00 0.00 Hotel Room Tax 0 0.00 0.00 0.00 0.00 0.00 0 0.00 0.00 Farm Animal Excise 0 0.00 0.00 0.00 0.00 0.00 0 0.00 0.00 Total Other Excise 572,657 583,614.89 602,765.52 590,000.00 590,000.00 154,454.80 617,819 602,715.00 0.00 -100.00% 10/16/2019,2:05 PM,FY21 General Fund Budget Worksheet Projections for RFCC.xis 1 FY21 Revenue Projection Detail Town Mgr Preliminary per RFCC Recommended Recommended %Increase FY20 Actual Actual Actual Budget Recap YTD as of 9/30/19 Projected Projections Projections Recap to FY20 FY2017 FY2018 FY2019 FY2020 FY2020 FY2020 FY2020 FY2021 FY2021 RFCC/TM Recm'd Penalties&Interest Penalty/Int.on Prop.Tax 114,436 138,235.47 115,421.18 142,000.00 142,000.00 24,396.49 97,586 115,400.00 0.00 -100.00%base on FY19 actual Penalty/Int.on MVX 35,195 30,019.70 28,054.93 26,000.00 26,000.00 9,913.16 39,653 28,000.00 0.00 -100.00%base on FY19 actual Penalty/Int.on Tax Title 96,066 179,597.11 129,086.58 75,000.00 75,000.00 73,862.69 73,863 129,000.00 0.00 -100.00%base on FY19 actual Over/Under 151 611.50 955.58 0.00 0.00 230.02 230 0.00 0.00 0.00% Lien Certificates 35,515 31,840.00 45,000.00 33,600.00 33,600.00 16,560.00 45,000 45,000.00 0.00 -100.00%base on FY19 actual Treasurer Demand Fee 101,007 128,935.73 135,769.88 104,000.00 104,000.00 44,544.38 44,544 135,000.00 0.00 -100.00%base on FY19 actual Total Penalites&Interest 382,370 509,239.51 454,288.15 380,600.00 380,600.00 169,506.74 300,876 452,400.00 0.00 18.86% Payment in Lieu Payment in Lieu of Taxes 95,361 119,865.68 115,144.18 116,000.00 116,000.00 21,570.00 116,000 116,000.00 0.00 -100.00%pilot Housing Authority and Solar Energy Refuse based on annual contract increase of 1.25%from Host Community Fee(per agreement) 298,764 304,717.00 287,013.00 306,910.30 306,910.30 106,212.00 306,910 310,746.68 0.00 -100.00%FY20 budget Based on 5 yr average 1.94%increase over FY20 Host Community Solid Waste Fees(per ton) 1,515,906 1,607,132.38 1,498,507.87 1,591,404.71 1,591,404.71 481,847.83 1,591,405 1,622,277.96 0.00 -100.00%budget -1.82% 6.02% -6.76% 3.07% Total Refuse 1,814,670 1,911,849.38 1,785,520.87 1,898,315 1,898,315 588,059.83 1,898,315 1,933,024.64 0.00 -100.00% Other Charges based FY20 budget with$10/k increase,slightly Ambulance Service 977,739 1,038,719.41 1,203,162.05 960,000.00 960,000.00 250,430.89 960,000 970,000.00 0.00 -100.00%lower than 5yr average 2.03% 0.04% Fees Dog Fees 43,741 45,653.00 42,725.00 40,000.00 40,000.00 1,937.00 40,000 42,700.00 0.00 -100.00%based on FY19 actual Town Clerk Fees 28,959 32,383.95 33,657.00 29,000.00 29,000.00 9,007.55 29,000 33,600.00 0.00 -100.00%based on FY19 actual Extended Polling Hours 5,588 0.00 15,665.00 0.00 0.00 0.00 0 0.00 0.00 Cable Fees 5,272 5,359.50 3,170.50 5,300.00 5,300.00 0.00 3,100 3,100.00 0.00 -100.00%based on FY19 actual Clerk Violation Fees 4,825 4,187.50 2,175.00 41,000.00 41,000.00 275.00 2,100 2,100.00 0.00 -100.00%based on FY19 actual Passports 22,469 26,100.00 31,890.00 26,000.00 26,000.00 7,000.00 26,000 31,800.00 0.00 -100.00%based on FY19 actual Clerk Application Fees 1,330 200.00 850.00 100.00 100.00 0.00 100 100.00 0.00 -100.00% Conservation Fees 495 751.00 847.00 500.00 500.00 196.00 500 500.00 0.00 -100.00% Planning Board Filing Fees 24,892 13,626.54 73,695.12 28,000.00 28,000.00 543,332.38 543,332 30,000.00 0.00 -100.00%FY19 and FY20 includes one time large projects Police Fee's 2,221 2,336.83 2,177.94 4,200.00 4,200.00 1,545.61 2,200 2,100.00 0.00 -100.00%based on FY19 actual Building Inspection Fees 1,197,989 910,493.44 809,272.40 784,450.00 784,450.00 223,502.21 800,000 809,000.00 0.00 -100.00%based on FY19 actual 88.69% -2.00% Plumbing Inspection Fees 108,844 100,017.11 101,183.79 106,450.00 106,450.00 19,973.90 106,450 101,000.00 0.00 -100.00%based on FY19 actual,slight lower than 5 yr average Electrical Inspection Fees 154,762 167,218.93 153,353.61 150,000.00 150,000.00 34,943.92 150,000 153,000.00 0.00 -100.00%based on FY19 actual,slight lower than 5 yr average Weights/Measures 3,138 4,556.00 3,249.00 4,400.00 4,400.00 792.00 3,200 3,200.00 0.00 -100.00%based on FY19 actual,slight lower than 5 yr average Recycling Fees 31,727 57,933 33,372 48,000.00 48,000.00 2,428.08 33,000 33,000.00 0.00 -100.00%based on FY19 actual,slight lower than 5 yr average Total Fees 1,636,251 1,370,817.24 1,307,283.31 1,267,400.00 1,267,400.00 844,933.65 1,738,982 1,245,200.00 0.00 -100.00% 10/16/2019,2:05 PKFY21 General Fund Budget Worksheet Projections for RFCC.xis 2 FY21 Revenue Projection Detail Town Mgr Preliminary per RFCC Recommended Recommended %Increase FY20 Actual Actual Actual Budget Recap YTD as of 9/30/19 Projected Projections Projections Recap to FY20 FY2017 FY2018 FY2019 FY2020 FY2020 FY2020 FY2020 FY2021 FY2021 RFCC/TM Recm'd Rentals School Dept.Rentals 0 0.00 0.00 0 0 0.00 0 0 0 School Revenue *Funds will be distributed directly to the School Dept Medicaid Reimbursement 249,637 339,094.59 129,719.04 0.00 0.00 15.00 15.00 0.00 0.00 0.00%starting this year through a 53E1/2 revolving fund. School Dept.Miscellaneous 0 0.00 0.00 0 0 0.00 0 0.00 0.00 Total School Revenue 249,637 339,094.59 129,719.04 0.00 0.00 15.00 15 0.00 0.00 0.00% Library Revenue Library Fines 2,490 2,974.61 2,665.17 0 0 786.41 786.41 0.00 0.00 Recreation Bathing Beach Receipts 32,031 25,656.00 38,670.00 28,000.00 28,000.00 20,169.00 20,169 31,000.00 0.00 -100.00%based on 5 yr average($31,002) Other Receipts Rental Income 3,810 3,596.47 0.00 0.00 0.00 0.00 0 0.00 0.00 0.00%no longer receive Cell Tower Lease 64,451 75,434.88 128,473.03 75,000.00 75,000.00 10,645.59 75,000 128,000.00 0.00 -100.00%based on FY19 actual Misc.Dept Revenue 34,362 51,301.85 36,624.51 0.00 0.00 12,820.16 12,820 0.00 0.00 0.00%do not budget for one time misc revenue Appeals Board Receipts 2,200 2,750.00 2,900.00 2,100.00 2,100.00 750.00 2,100 2,900.00 0.00 -100.00%based on FY19 actual Police 10%Admin.Fee 62,799 52,949.68 87,394.09 47,800.00 47,800.00 18,632.47 74,530 87,000.00 0.00 -100.00%based on FY19 actual Fire 10%Admin.Fee 0.00 19,391.32 0.00 0.00 1,115.02 1,115 5,000.00 0.00 0.00%FY19 from Colunbia Ga not expected in future years Fire Alarm Box Permit Fees 11,000 13,000.00 10,000.00 13,000.00 13,000.00 3,800.00 10,000 10,000.00 0.00 0.00%based on FY19 actual Boxford Veterans Reimbursements 17,257 16,426.50 18,592.71 17,200.00 17,200.00 0.00 17,200 18,500.00 0.00 -100.00%based on FY19 actual Total Other Receipts 195,879 215,539.38 303,375.66 155,100.00 155,100.00 47,763.24 192,765 251,400.00 0.00 -100.00% Licenses/Permits Liquor License 105,325 114,300.00 134,375.00 114,300.00 114,300.00 0.00 134,375 134,000.00 0.00 -100.00%based on FY19 actual Other Alcohol License 4,875 5,400.00 15,415.00 5,400.00 5,400.00 5,375.00 15,415 15,400.00 0.00 -100.00%based on FY19 actual Food License 3,950 4,050.00 2,950.00 4,050.00 4,050.00 0.00 2,950 2,950.00 0.00 -100.00%based on FY19 actual Miscellaneous Licenses 12,850 11,475.00 10,408.00 11,475.00 11,475.00 200.00 10,400 10,400.00 0.00 -100.00%based on FY19 actual License to Carry Firearms 6,013 5,550.00 6,612.50 5,700.00 5,700.00 1,487.50 5,700 6,600.00 0.00 -100.00%based on FY19 actual Fire Permits 42,521 41,750.00 39,625.00 47,000.00 47,000.00 10,985.00 43,940 39,000.00 0.00 -100.00%based on FY19 actual Gas Permits 50,204 37,239.03 41,217.50 38,000.00 38,000.00 12,778.50 38,000 41,000.00 0.00 -100.00%based on FY19 actual Fishing&Boating License 6,975 6,990.00 9,465.00 6,500.00 6,500.00 705.00 6,500 9,400.00 0.00 -100.00%based on FY19 actual Burial Permits 4,300 4,850.00 4,475.00 4,200.00 4,200.00 1,500.00 4,200 4,400.00 0.00 -100.00%based on FY19 actual Health Permits 54,170 34,285.00 49,380.00 52,000.00 52,000.00 1,435.00 49,000 49,000.00 0.00 -100.00%based on FY19 actual Total Licenses/Permits 291,183 265,889.03 313,923.00 288,625.00 288,625.00 34,466.00 310,480 312,150.00 0.00 -100.00% 10/16/2019,2:05 PM,FY21 General Fund Budget Worksheet Projections for RFCC As 3 FY21 Revenue Projection Detail Town Mgr Preliminary per RFCC Recommended Recommended %Increase FY20 Actual Actual Actual Budget Recap YTD as of 9/30/19 Projected Projections Projections Recap to FY20 FY2017 FY2018 FY2019 FY2020 FY2020 FY2020 FY2020 FY2021 FY2021 RFCC/TM Recm'd Fines/Forfeits Parking Fines 16,210 12,845.40 9,850.00 12,800.00 12,800.00 1,487.40 9,800 9,800.00 0.00 -100.00%based on FY19 actual Court Fines 33,328 40,949.85 43,862.29 54,000.00 54,000.00 9,088.06 43,800 43,800.00 0.00 -100.00%based on FY19 actual False Alarm Fine 4,925 2,276.00 4,200.00 3,200.00 3,200.00 0.00 4,200 4,200.00 0.00 -100.00%based on FY19 actual Total Fines/Forfeits 54,463 56,071.25 57,912.29 70,000.00 70,000.00 10,575.46 57,800 57,800.00 0.00 -100.00% Investment Income Interest-General 153,921 269,533.78 619,991.93 400,000.00 400,000.00 235,727.97 620,000 619,000.00 0.00 -100.00%based on FY19 actual 26.55% 329.31% Total Local Receipts 11,212,349 11,819,809.67 12,083,783.50 10,954,040.01 10,954,040.01 2,798,965.61 11,634,008 11,390,689.64 0.00 -100.00% INTERGOVERNMENTAL-STATE CHERRYSHEET Loss of Tax Vets/Blind/Widow(2%) 1,840 112,157.00 9,036.00 66,036.00 66,036.00 2,382.00 66,036 66,036.00 0.00 -100.00%Based on FY20 Budget State Owned Land 230,108 229,889.00 240,003.00 240,003.00 240,003.00 64,623.00 240,003 240,003.00 0.00 -100.00% Veteran 180,335 174,988.00 175,400.00 166,443.00 166,443.00 111,586.00 166,443 166,443.00 0.00 -100.00% Unrestricted General Government Aid 1,970,470 2 047 318.00 2 118 974.00 2 118 974.00 2 118 974.00 544 044.00 2 118 974 2 118 974.00 0.00 -100.00% > > > > > > > > > > > > > Chapter 70 Aid 8,181,977 8,326,307.00 9,016,217.00 9,016,217.00 9,016,217.00 2,286,752.00 9,016,217 9,016,217.00 0.00 -100.00% Charter Tuition Assessment Reimb 14,846 16,605.00 24,133.00 7,144.00 7,144.00 3,578.00 7,144 7,144.00 0.00 -100.00% " Municipal One Time Aid 0 0.00 0.00 0.00 0.00 0.00 0 0.00 0.00 School Building Assistance 0 0.00 0.00 0.00 0.00 0.00 0 0.00 0.00 FY15 was the last year for this reimb from MSBA Total Cherry Sheet Aid 10,579,576 10,907,264.00 11,583,763.00 11,614,817.00 11,614,817.00 3,012,965.00 11,614,817 11,614,817.00 0.00 -100.00% INTERFUND OPERATING TRANSFERS Transfers from Sewer 445,321 456,454.23 467,865.59 479,562.23 479,562.23 119,890.56 479,562 491,551.29 0.00 -100.00%2.5%increase projected 7.69% Transfers from Water Enterprise 946,308 969,965.65 994,214.79 1,019,070.16 1,019,070.16 254,767.53 1,019,070 1,044,546.91 0.00 -100.00%2.5%increase projected 7.69% Transfer from Stevens Est. 50,032 77,369.00 79,303.23 81,285.81 81,285.81 20,321.46 81,286 0.00 0.00 -100.00% Transfers from Special Revenue(Comm Ser) 0 0.00 0 0.00 0.00 0 0 0.00 0.00 Transfer from Special Revenue(Youth) 0 0.00 0 0.00 0.00 0 0 0.00 0.00 Transfer from Debt Reserve 0 0.00 68,926 68,926.00 68,926.00 0 68,926 68,926.00 0.00 MSBA High School reserve offset Transfer from GLSD 146,703 148,536.81 150,394 152,273.44 152,273.44 0 152,273 154,176.86 0.00 -100.00%1.25%increase per annual agreement Transfer from Capital 0 0.00 0 0.00 0.00 0 0 0.00 0.00 Totallnterfund Operating Transfers 1,588,365 1,652,325.69 1,760,703.13 1,801,117.64 1,801,117.64 394,979.55 1,801,118 1,759,201.06 0.00 -100.00% 2.92% 16.10% TOTAL OPERATING REVENUES 93,026,816 96,771,193.72 98,925,605.60 101,489,731.73 101,489,731.73 25,007,842.53 102,311,131 104,443,169.98 79,678,462.28 2.91% Dollar Change 2,272,285 6,016,662.13 12,582,790.97 4,718,538.01 4,718,538.01 (71,763,351.19) 821,399 2,953,438.25 (21,811,269.45) %Change 2.50% 0.07 14.57% 4.88% 4.88% -74.16% 0.81% 2.91% -21.49% 10/16/2019,2:05 PM,FY21 General Fund Budget Worksheet Projections for RFCC As 4 FY21 Revenue Projection Detail Town Mgr Preliminary per RFCC Recommended Recommended %Increase FY20 Actual Actual Actual Budget Recap YTD as of 9/30/19 Projected Projections Projections Recap to FY20 FY2017 FY2018 FY2019 FY2020 FY2020 FY2020 FY2020 FY2021 FY2021 RFCC/TM Recm'd Reserves and One time only revenue Misc non recurring* 14,686 259,447.12 0.00 0 0 43,303.03 43,303 0.00 0.00 Misc non Recurring-Hopkinton Bill 0 0.00 0.00 0 0 0.00 0 0.00 0.00 Misc non recurring-Foundation Reserve(pot 0 0.00 0.00 0 0 0.00 0 0.00 0.00 Misc non recurring-MSBA reimb(high sch) 0 0.00 0.00 0 0 0.00 0 0.00 0.00 Misc non recurring-FEMA reimbur 480 2,401.13 0.00 0 0 0.00 0 0.00 0.00 Misc non recurring-MEMA reimbur 0 0.00 0.00 0 0 0.00 0 0.00 0.00 Due to chg in insurance do not anticipate receiving Misc non recurring-Medicare Part D 0 0.00 0.00 0 0 0.00 0 0.00 0.00 this any longer Trash Fee Stabilization Grant 0 0.00 0.00 0 0 0.00 0 0.00 0.00 Transfer from GLSD 0 0.00 0.00 0 0 0.00 0 0.00 0.00 Transfer from reserve for Debt Payments 0 0.00 0.00 0 0 0.00 0 0.00 0.00 NESWC Dissolution 0 0.00 0.00 0 0 0.00 0 0.00 0.00 Free Cash 524,817 4,824,831.00 1,911,161.00 1,994,707 1,994,707.36 0.00 1,994,707 0.00 0.00 SPED Stabilization 200,000 0.00 250,000.00 0 0 0.00 0 0.00 0.00 Stabilization 0 0.00 0.00 0 0 0.00 0 0.00 0.00 Surplus Overlay 0 0.00 0.00 0 0 0.00 0 0.00 0.00 Bond Premium 0 0.00 0.00 0 0 0.00 0 0.00 0.00 Insurance Reimbursements 0 0.00 0.00 0 0 0.00 0 0.00 0.00 Total Reserves and One Time Revenues 739,982 5,086,679.25 2,161,161.00 1,994,707 1,994,707 43,303.03 2,038,010 0.00 0.00 GENERAL FUNDS TOTAL 93,766,799 101,857,872.97 101,086,766.60 103,484,439.09 103,484,439.09 25,051,145.56 104,349,141 1049443,169.98 79,678,462.28 -23.00% Dollar Change 988,479 8,091,074 2,397,672 2,397,672 864,702 958,730.89 (23,805,976.81) Percent Change 1.07% 8.63% 2.37% 2.37% 0.84% 0.93% -23.00% checked checked checked checked chg between FY20 recap/ chg between FY20 recap/ FY21 RECC FY21 RECC 10/16/2019,2:05 PM,FY21 General Fund Budget Worksheet Projections for RFCC As 5