HomeMy Public PortalAboutFiscal Year 2022 Proposed Budget Amendment TOWN OF
1630 WATERTOWN
Office of the Town Manager
Administration Building
y
- 149 Main Street
Watertown,MA 02472
Phone:617-972-6465
Michael J.Driscoll www.watertown-ma.gov
townmgr@watertown-ma.gov
Town Manager
To: Honorable Town Council ,
From: Michael J. Driscoll, Town Manager
Date: October 22, 2021
RE: Proposed Amendment to the Fiscal Year 2022 Budget
As a follow-up to the October 7th Agenda Item correspondence related to the subject,please be advised
the Proposed Amendment to the Fiscal Year 2022 Budget will be increased by $49,843 which is
related to a revised Fiscal Year 2022 Tax Levy Limit.
Attached please find pages 33 & 39 of the Fiscal Year 2023 Preliminary Budget Overview and the
Department of Revenue Fiscal Year 2022 Levy Limit. When reviewing these pages, please note the
amended Fiscal Year 2021 New Growth amount of$48,627 on the Department of Revenue Fiscal Year
2022 Levy Limit. Please be advised that amount along with$1,216 was not included in pages 33 & 39
of the Fiscal Year 2023 Preliminary Budget Overview.
Given this revised Amendment,the Fiscal Year 2022 Revenues and Expenditures will be each
increased by $6,942,976. Therefore,the revised Fiscal Year 2022 Revenues and Expenditures would
be $176,574,197.
cc: Honorable School Committee
Honorable Library Board of Trustees
Watertown Contributory Retirement Board
Department Heads
FISCAL YEAR 2022
BUDGET AMENDMENT
OCTOBER 26, 2021
INCREASE
REVENUE (DECREASE) TO READ
REAL ESTATE AND PROPERTY TAXES $ 1,942,035 $ 133,418,141
STATE AID $ 941 $ 13,482,722
INSPECTION FEES $ 5,000,000 $ 7,200,000
TOTAL REVENUE ADJUSTMENT $ 6,942,976
INCREASE
EXPENDITURES (DECREASE) TO READ
SCHOOL CHOICE ASSESSMENT $ 49,436 $ 243,318
0182056-560629
CHARTER SCHOOL ASSESSMENT $ 1 $ 261,782
0182056-560630
NEXUS STUDY-AFFORDABLE HOUSING LINKAGE FEES $ 50,000 $ 50,000
0194000-530327
TRANSFER TO UNFUNDED PENSION LIABILITY STABILIZATION $ 5,000,000 $ 5,000,000
0194000-596804
TOWN COUNCIL RESERVE $ 1,843,539 $ 2,951,147
0111152-570780
TOTAL EXPENDITURE ADJUSTMENT $ 6,942,976
W
W
t ' J
N o0
o y
N
G
'� GO
S� r
0.14� �� 3
V
w �
O . r--q
H
•
4�
110 n o � CD �10
o
c1r)
n n o 0 0 0
� .
m `t+ � v �
LO 00 o cm o m
- o 00 o ON
o rn
ri m o 0 0 0
m 14 O oo
� �
k& kF� rQ& -E& 4E:& �G&
V
CD CD CD
N N O lf) O LO
Ooo (31\ O o
dm+ p
^ , x
W -G& k8- cam- 4E� r
_ m � � N o CD N
N oO o op
m o 00 m o m
m m "Idq m
N � � .�
�
;J a
P, Z 0 ZI
O N N ON M 0`
dam+ n N � 7 C
N N cf 06 L�
0 00 00cci O
U}
CO N d+ a\ 00
`i a1 N N LO ON
00 Lr) n
N � 00 �ON 00
CO
r 1 rl co
O1
OD,
w
r /1 CD N N �00
V J1 0 � N 0000 CO LO v
_ 1 N 00 N N tN-{
T, 1 di \11 0O
�
�L � rm-I r i t� N
V J ri tl
EF- E{} ru} Get H}
.v
bO
r1 rn N 00 It Lf) W
v CV tll cl Cl M N
C, mod+ rN-i Lo Lo N
O � `�-° t w
1 0
W 0
0
v
v
c o
^� o o cz
r1 1
v bbl)
v GO
4.1 '� v v N
w o
W � � ,—� N
(U cd cid
z 00 p [fit
j_7 o H
MASSACHUSETTS DEPARTMENT OF REVENUE Watertown
DIVISION OF LOCAL SERVICES TOWN
BUREAU OF ACCOUNTS
Levy Limit
Fiscal Year 2022
FOR BUDGET PLANNING PURPOSES
I. TO CALCULATE THE FY 2021 LEVY LIMIT
A. FY 2020 Levy Limit 117,181,127
Al. Amended FY 2020 Growth -118,907
B. ADD(IA+IA1)'2.5% 2,926,556
C. ADD FY 2021 New Growth 3,402,547
Cl. ADD FY 2021 New Growth Adjustment 0
D. ADD FY 2021 Override 0
E. FY 2021 Subtotal 123,391,323
F. FY 2021 Levy Ceiling 234,959,259 I. 123,391,323
FY 2021 Levy Limit
ll. TO CALCULATE THE FY 2022 LEVY LIMIT
A. FY 2021 Levy Limit from I 123,391,323
Al. Amended FY 2021 Growth -- --- -- --- a- 48,627
B. ADD(IIA+IIA1)'2.5% 3,085,999
C. ADD FY 2022 New Growth 7,892,192
Cl. ADD FY 2022 New Growth Adjustment 0
D. ADD FY 2022 Override 0
E. ADD FY 2022 Subtotal 134,418,141
F. FY 2022 Levy Ceiling 251,240,608 II. 134,418,141
FY 2022 Levy Limit
III. TO CALCULATE THE FY 2022 MAXIMUM ALLOWABLE LEVY
A. FY 2022 Levy Limit from II. 134,418,141
B. FY 2022 Debt Exclusion(s) 0
C. FY 2022 Capital Expenditure Exclusion(s) 0
D. FY 2022 Stabilization Fund Override 0
E. FY 2022 Other Adjustment: 0
F. FY 2022 Water/Sewer 0
G. FY 2022 Maximum Allowable Levy 134,418,141
Signatures
Board of Assessors
Earl L Smith,Chair Board of Assessors,Watertown,esmith@watertown-ma.gov 617-972.6410 1 10/13/2021 11:21 AM
Documents
Documents have been uploaded.
I
NOTE:The information has not been Approved and is subject to change.
printed on 10/22/2021 10:42:54 AM page 1 of 1