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HomeMy Public PortalAboutFinancial Forecast1/4/2019 B. Estimated Receipt Categories:(Note)FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 1. State Aid Receipts (7)$1,840,629 $1,836,721 $1,902,490 $1,934,064 $1,966,269 $1,999,119 2. Miscellaneous Town Receipt Revenues (8)$5,134,184 $4,877,475 $5,206,179 $5,310,218 $5,413,633 $5,516,423 Estimated Receipts Sub-total $6,974,813 $6,714,196 $7,108,669 $7,244,282 $7,379,902 $7,515,542 C. Other Available Funds:(Note)FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 1. Telecommunications / Tower Receipts (11)$100,000 $65,000 $66,300 $67,626 $68,979 $70,358 2. Free Cash Funds: (Annual Articles)(12)$779,087 $1,106,167 $500,000 $512,500 $525,313 $538,445 3.Other Avail Funds: (Capital - School)(13)$156,398 $25,000 4. CCMHGroup Retiree Drug Subsidy - one time revenue $154,400 $0 $0 $0 $0 5. Fire Ambulance Receipts Funds: a. Fire Dept Ambulance Special Revenue (14)$827,640 $563,550 $574,821 $586,317 $598,044 $610,005 b. ATM Fire & Rescue Capital Articles (15)$0 $634,000 $646,680 $659,614 $672,806 $686,262 6. Overlay Surplus Accts (16)$0 $50,000 $51,000 $52,020 $53,060 $54,122 7. W ater Revenues - Budget & Capital $2,682,581 $2,919,090 $2,992,067 $3,066,869 $3,143,541 $3,222,129 7A. W ater Rev. for General Fund Indirect Charges (17)$0 $130,000 $133,250 $136,581 $139,996 $143,496 7B. W ater Rev. for Windrift Acres - CPC article $70,000 8. Bond Amoritization Funds (Eddy HVAC & Road Repair)(18)$0 $35,810 $32,371 $28,931 $25,492 $22,053 9. Municipal W aterways Account (19)$0 $5,000 $5,000 $5,000 $5,000 $5,000 10. Cable Franchise Funds (20)$365,000 $237,200 $7,200 $7,200 $7,200 $7,200 11. Road Betterment Projects / Debt (21)$0 $151,436 $102,623 $74,185 $66,585 $64,385.00 12. Recreation Revolving Fund (22)$0 $0 $0 $0 $0 $0 13. Golf Receipts Account (23)$4,037,922 $3,986,919 $4,086,592 $4,188,757 $4,293,476 $4,400,813 13A. Golf Receipts for General Fund Indirect Charges $0 $100,000 $102,500 $105,063 $107,689 14. Debt/Borrowing W arrant Articles (golf)(24)$0 $180,000 $0 $0 $0 $0 15. Comm Presvtn: W indrift Acres 680,000 Other Available Funds Sub-total $8,948,628 $10,993,572 $9,297,904 $9,488,100 $9,704,553 $9,931,956 1. GRAND TOTAL ESTIMATED REVENUES $49,784,914 $53,034,568 $52,437,155 $53,768,796 $55,135,664 $56,539,486 TOWN OF BREWSTER FINANCIAL FORECAST FISCAL YEAR 2020 April 24, 2019 1. ESTIMATED REVENUES RESOURCES FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 A. Property Tax Levy Base:(Note) 1. Property Tax Levy Base (1)$30,648,080 $31,769,031 $32,763,257 $33,782,338 $34,826,897 $35,897,569 2. Proposition 2 1/2 Tax Levy Increase (2)$766,202 $794,226 $819,081 $844,558 $870,672 $897,439 3. Property Tax Levy Construction Growth (3)$354,749 $200,000 $200,000 $200,000 $200,000 $200,000 4. Debt Exclusion Levy Authorization (4)$1,931,715 $2,398,798 $2,079,380 $2,036,432 $1,976,227 $1,915,132 5. Cape Cod Commission Levy Exclusion (5)$160,727 $164,745 $168,864 $173,085 $177,413 $181,848 6. Proposition 2 1/2 Override (6)$0 $0 $0 $0 $0 $0 Property Tax Levy Sub-total $33,861,473 $35,326,800 $36,030,582 $37,036,414 $38,051,209 $39,091,988 2. GRAND TOTAL ESTIMATED EXPENDITURES Adjusted Surplus or Deficit (note below) $48,903,370 $52,983,633 $53,280,711 $53,920,771 $55,499,123 $57,117,638 Deficit will result in a requirement for either a Prop 2 1/2 Override, new revenue source or budget reductions. 2. ESTIMATED EXPENDITURES A. Operating Budgets - Town & Schools:(Note)FY2019 Adj.FY2020 FY2021 FY2022 FY2023 FY2024 1. Town Operating Budget (1)$15,665,185 $16,415,534 $16,981,435 $17,582,726 $18,219,060 $18,853,044 2. Elementary School Operating Budget (2)$9,748,546 $9,992,260 $10,358,482 $10,739,678 $11,136,537 $11,549,781 3. Nauset Regional School Operating Budget includes OPEB (3)$10,397,696 $10,812,935 $11,137,323 $11,471,443 $11,815,586 $12,170,054 3A. Nauset OPEB Assessment - New Request $0 $0 $0 $0 $0 $0 4. Cape Cod Technical School Operating Budget (4)$845,458 $753,875 $776,491 $799,786 $823,780 $848,493 Sub-total Operating Budgets $36,656,885 $37,974,604 $39,253,732 $40,593,633 $41,994,963 $43,421,372 B. Town & School Debt Budgets:(Note)FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 1. Town Debt Budget - Prin. & Interest Payments (5)$2,079,213 $2,288,229 $2,019,465 $1,896,480 $1,834,180 $1,774,580 2. Nauset Regional School District:(6) - Excluded Debt - Principal & Interest Expense $115,162 $122,175 $114,225 $112,611 $110,727 $109,382 3. Excluded Debt - CCT High School Const. (P & I Year #1)$0 $489,117 $395,413 $395,089 $384,084 $373,078 Sub-total Debt Obligations $2,194,375 $2,899,521 $2,529,103 $2,404,180 $2,328,991 $2,257,040 C. Warrant Articles for Annual Town Meeting (Note)FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 1. Annual Nauset Capital Repair Funding (R & A)(7)$241,705 $247,133 $253,311 $259,644 $266,135 $272,789 2. Town & Elem Sch Capital Plan Articles (School FY20)$156,398 $25,000 $800,000 $0 $0 $0 3. Fire Dept Ambulance Special Revenue (8)$827,640 $563,550 $574,821 $586,317 $598,044 $610,005 4. Capital Equip/Projects Articles (Free Cash)(9)$537,382 $841,167 $500,000 $512,500 $525,313 $538,445 5. Projects & Services prev. incld. in Oper Budget (R & A)F/Cash now $0 $265,000 $271,625 $278,416 $285,376 $292,510 6. CCMHG Retiree Drug Subsidy $0 $154,400 $0 $0 $0 $0 7. W ater Dept Budget & Capital $2,682,581 $2,919,090 $2,992,067 $3,066,869 $3,143,541 $3,222,129 7A. W ater Rev. for General Fund Indirect Chgs (10 $0 $130,000 $133,250 $136,581 $139,996 $143,496 7B W ater Rev. for W indrift Acres - CPC Article 70,000 8. Ambulance Receipts Account W arrant Articles (11)$634,000 $646,680 $659,614 $672,806 $686,262 9. Golf Receipts Capital W arrant Articles (12)$4,037,922 $3,986,919 $4,086,592 $4,188,757 $4,293,476 $4,400,813 10. Telecommunications (PD FY19) & (Budget Offset FY20)(13)$100,000 $65,000 $66,300 $67,626 $68,979 $70,358 11. Overlay Surplus (prev in Oper Budget (R&A PK 80K + 50K)(14)$0 $50,000 $51,000 $52,020 $53,060 $54,122 12. Cable Franchise Fee Program (15)$365,000 $237,200 $7,200 $7,200 $7,200 $7,200 13. Road Bettment Reserved for Debt $0 $151,436 $102,623 $74,185 $66,585 $64,385 14. Bond Amoritization Funds (Eddy HVAC & Road Repair)$0 $35,810 $32,371 $28,931 $25,492 $22,053 15 Municipal W aterways Account $0 $5,000 $5,000 $5,000 $5,000 $5,000 16 Other Raise & Appropriate Items $104,500 $4,500 $4,500 $4,500 $4,500 $4,500 17. Debt Borrowing Articles (Golf)(16)$0 $180,000 $0 $0 $0 $0 18 Comm Presvtn - W indrift Acres $0 680,000 0 0 0 0 Sub-total Warrant Articles $9,053,128 $11,245,205 $10,527,341 $9,928,160 $10,155,501 $10,394,066 D. Other Special Charges & Assessments (Note)FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 1. State & County Assessments (17)$679,088 $632,460 $648,272 $664,478 $681,090 $698,118 2. Overlay Reserve for Property Tax Abatements (18)$211,554 $216,843 $222,264 $227,820 $233,516 $239,354 3. Other Special Charges & Deficits (19)$108,340 $15,000 $100,000 $102,500 $105,063 $107,689 Sub-total Charges & Assessments $998,982 $864,303 $970,535 $994,799 $1,019,669 $1,045,160 3. PROJECTED SURPLUS OR (DEFICIT*)$17,574 $50,935 ($843,556)($151,975)($363,459)($578,152) $50,935 ($894,491)$691,581 ($211,485)($214,693) TOWN OF BREWSTER FINANCIAL PROJECTIONS FISCAL YEAR 2020 Tax Rate & Levy Projection Proj. % Increase Property Tax Levy Total Assess Prop Val Tax Rate Projected % Increase Cost ($) Increase Tax Impact $400,000 A Actual FY2010 Property Tax Levy & Rate 3.19%$23,267,616 $3,752,841,370 $6.20 4.38% B Actual FY2011 Property Tax Levy & Rate 2.23%$23,787,595 $3,427,607,340 $6.94 11.94% C Actual FY2012 Property Tax Levy & Rate 4.82%$24,934,419 $3,346,182,410 $7.45 7.37% D Actual FY2013 Property Tax Levy & Rate 3.29%$25,755,580 $3,251,967,110 $7.92 6.29% E Actual FY2014 Property Tax Levy & Rate 5.32%$27,125,003 $3,313,114,540 $8.18 3.25% F Actual FY2015 Property Tax Levy & Rate 3.03%$27,947,912 $3,379,744,690 $8.27 1.13% G Actual FY2016 Property Tax Levy & Rate 4.81%$29,291,330 $3,474,653,670 $8.43 1.94% H Actual FY2017 Property Tax Levy & Rate 3.66%$30,364,738 $3,619,158,270 $8.39 -0.47% I Actual FY2018 Property Tax Levy & Rate 3.91%$31,552,570 $3,819,923,720 $8.26 -1.55% J Actual FY2019 Property Tax Levy & Rate 7.58%$33,943,958 $3,944,517,280 $8.58 3.87% Projected FY2020 Property Tax Levy & Rate 4.07%$35,326,800 $4,019,517,280 $8.79 2.43%$0.21 $83.53 Assuming no property tax override List of Prop Tax overrides for various overrides, General, capital exclusions and/or debt exclusions. 1 General Operating Override for FY2020 ($50,935)-0.14%$35,275,865 $4,019,517,280 $8.78 -0.14%-$0.01 -$5.07 2 Genl Op Override COA, DNR, Ffighters $309,000 0.87%$35,635,800 $4,019,517,280 $8.87 1.02%$0.09 $35.82