Finances


Mike Sullivan’s current analysis of the financial impacts of the annual town meeting (ATM) budget and warrant articles –

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TOWN OF MEDFIELD TAX LEVY FY15 – FY18
actual actual est 29-Mar
  all figures are in thousands (000’s) fy15 FISCAL16 FISCAL17 FISCAL18
INCOME:
     TAX REVENUE: (3% inc)
          TAX LEVY $34,026 $35,563 $36,788 $38,144
          DEBT EXCLUSIONS $3,093 $4,795 $4,580 $4,454
          2 1/2 LEVY INCREASE $860 $890 $922 $955
          NEW GROWTH $341 $379 $434 $350
          TAX LEVY OPERATING OVERRIDE $0 $0 $0 $0
         UNEXPENDED TAX LEVY $75
   SUBTOTAL TAX REVENUE $38,320 $41,627 $42,724 $43,978
     NON – TAX REVENUE:
          FEDERAL AID $0 $0 $0 $0
          STATE AID $7,264 $7,358 $7,552 $7,669
          SCHOOL BUILDING ASSISTANCE $327 $0 $0 $0
          LOCAL RECEIPTS $3,954 $4,576 $4,089 $4,300
          REVOLVING FUNDS $0 $249 $564 $358
          OTHER FREE CASH $816 $271 $500 $200
          OTHER AVAILABLE FUNDS ? $2,627 $4,470 $2,753 $2,213
          ENTERPRISE FUND REVENUES ? $3,563 $3,531 $3,885 $3,869
   SUBTOTAL NON TAX REVENUE: $18,551 $20,455 $19,343 $18,609
TOTAL INCOME FROM REVENUE $56,871 $62,082 $62,067 $62,587
EXPENDITURES:
     FIXED:
          FY15 BOND SALE COSTS -HOSP PURCHASE; FY16 COURT JUDGEMENT $174 $622 $0 $0
          SNOW DEFICIT/LAND DAMAGES/TAX TITLE $165 $235 $0 $100
          OVERLAY FOR TAX ABATEMENTS $243 $264 $251 $200
          STATE AID – CHERRY SHEET OFFSETS $25 $16 $15 $16
          STATE CHERRY SHEET ASSESSMENTS $493 $820 $833 $857
                        SUB-TOTAL FIXED EXPENDITURES: $1,100 $1,957 $1,099 $1,173
     APPROPRIATIONS:
          REVOLVING FUNDS $224 $249 $564 $358
          CAPITAL BUDGET/ OTHER ARTICLES $2,556 $4,185 $2,755 $1,690
          EMPLOYEE BENEFITS $6,420 $6,715 $7,067 $7,353
          SCHOOL BUDGET (TOWN) $29,083 $30,363 $31,577 $33,036
          SCHOOL BUDGET (VOCATIONAL) $159 $120 $131 $160
          TOWN BUDGETS $10,341 $10,528 $10,838 $11,190
          WATER & SEWER ENTERPRISE $1,871 $1,854 $1,969 $2,055
                        SUB-TOTAL OPERATING BUDGETS $50,654 $54,014 $54,901 $55,842
` `
           NON-EXCLUDED DEBT $447 $413 $247 $343
           EXCLUDED DEBT (TAX LEVY OVERRIDE) $4,534 $5,167 $5,522 $5,383
           ENTERPRISE FUND DEBT (W&S) $636 $1,159 $1,018 $938
                        SUB-TOTAL DEBT $5,617 $6,739 $6,787 $6,664
TOTAL APPROPRIATIONS & REVOLVING FUNDS: $56,271 $60,753 $61,688 $62,506
TOTAL EXPENDITURES: $57,371 $62,710 $62,787 $63,679
              DEFICIT FINANCED FROM FREE CASH ($500) ($628) ($720) ($1,092)
certified free cash – july 1 $2,671 $2,426 $2,621 $2,756
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2 responses to “Finances

  1. Jean Marie Kingsbury

    Thank-you Pete for all you do each and every day for our community !!

    Sent from my iPhone

    >

    Like

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