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HomeMy Public PortalAboutFY2019 General Fund Financial Forecast as of 03192018FY2019 PROJECTION 1 30,648,080$ 2 766,202$ 3 160,239$ 4 Excess Levy Capacity -$ 5 Proposition 2 1/2 Operating Override -$ 6 1,856,765$ 7 -$ 8 160,727$ 33,592,013$ Projected Excess 33,592,013$ FY2019 PROJECTION 1 1,844,817$ 2 1,522,945$ b. Other Excise Tax 1,360,808$ 160,210$ 6,875$ 536,454$ f. Fees 115,770$ g. Rentals 66,856$ h. Departmental Revenue 130,949$ i. License & Permits 779,375$ j. Special Assessments -$ k. Fines & Forfeits 27,326$ l. Investment Income 47,268$ m. Medicaid Reimbursement 70,110$ -$ o. Miscellaneous Non-Recurring -$ 3 -$ 4 -$ 6,669,762$ Estimated Receipts Sub-total MLBC State Grant Reimbursement (BLLibrary) Property Tax Levy Sub-total B. Estimated Local Receipt Categories: State Local Aid Town Local Receipts MSBA State Grant Reimbursement (Eddy School Capital) a. Motor Vehicle Excise c. Penalties & Interest on Taxes and Excise d. Payments in Lieu of Taxes e. Charges for Services (Transfer Station) n. Miscellaneous Recurring TOWN OF BREWSTER FINANCIAL FORECAST GENERAL FUND FISCAL YEAR 2019 (March 19, 2018) 1. ESTIMATED REVENUES RESOURCES A. Property Tax: Projected Excess Capacity Future Debt Exclusion Prior Year Levy Limit Proposition 2 1/2 Increase New Growth (Estimate for Future Years) Debt Exclusion County Maintenance of Effort - 6A Raised in Levy Maximum Allowable Tax Levy 3/16/2018 Page 1 of 4 TOWN OF BREWSTER FINANCIAL FORECAST GENERAL FUND FISCAL YEAR 2019 (March 19, 2018) FY2019 PROJECTION 1 939,087$ 2 Overlay Surplus -$ 3 Repurpose old articles (completed and/or closed)520,118$ 4 Borrowing 485,000$ 1,944,205$ 42,205,981$ Free Cash C. Other Available Funds (One Time Source / Not Guaranteed Each Year): Other Available Funds Sub-total 1. GRAND TOTAL ESTIMATED REVENUES 3/16/2018 Page 2 of 4 TOWN OF BREWSTER FINANCIAL FORECAST GENERAL FUND FISCAL YEAR 2019 (March 19, 2018) 2. ESTIMATED EXPENDITURES FY2019 PROJECTION 1 11,743,820$ 2 Elementary School Operating Budget Inc. Fringe Benefits & Ret.9,748,546$ 3 a.Town Fringe Benefits 2,102,386$ b.Town Retirement / Pension Expense (FY18 Forward)1,694,546$ c.General Insurance 513,850$ 4 10,397,696$ 5 Cape Cod Technical School Assessment 845,458$ 6 262,851$ 37,309,153$ FY2019 PROJECTION 1 1,778,450$ 2 220,763$ 3 115,162$ 4 Cape Cod Technical School Assessment -$ 5 Issuance Costs 30,000$ 6 Short Term Debt Principal & Interest 50,000$ 2,194,375$ Town Salaries & Expense Nauset Regional School Assessment Other Expense & Assessments (Previously Shown in Town Expense) Insurance A. Operating Budgets - Town & Schools: Sub-total Debt Obligations Sub-total Operating Budgets B. Debt Budgets - Town & Schools: Nauset Regional School Debt Assessment Town Principal & Interest Elementray School Principal & Interest 3/16/2018 Page 3 of 4 TOWN OF BREWSTER FINANCIAL FORECAST GENERAL FUND FISCAL YEAR 2019 (March 19, 2018) FY2019 PROJECTION 1 -$ 2 Skipping Program 4,500$ 3 Cultural Council 10,000$ 4 -$ a.Town 1,568,500$ b.School 465,705$ 2,048,705$ FY2019 PROJECTION 1 653,748$ 2 -$ 3 Overlay Reserve for Abatements -$ 4 Prior Year Overlay & Other Deficits -$ 5 Prior Year Snow & Ice Deficit Raised on Recap -$ 653,748$ 42,205,981$ (0)$ Deficit will result in a requirement for either a Prop 2 1/2 Override, new revenue source, budget reductions or a combination thereof. Adjusted Surplus or Deficit Sub-total ATM Warrant Articles D. Other Special Charges & Assessments State Local Aid Charges & Offsets County Assessments (Other Than Retirement) Sub-total Charges & Assessments 2. GRAND TOTAL ESTIMATED EXPENDITURES 3. PROJECTED SURPLUS OR (DEFICIT*) C. Warrant Articles for Annual / Special Town Meeting Unpaid Bills Capital Expenditures (Doesn't include prior Road / Fire Station bans) 3/16/2018 Page 4 of 4 TOWN OF BREWSTER FISCAL YEAR 2019 March 19, 2018 DEPT HEAD TOWN ADMINISTRATOR SELECTBOARD FINANCE COMMITTEE CATEGORY EXPENDED APPROPRIATED REQUESTED RECOMMENDED RECOMMENDED RECOMMENDED GENERAL GOVERNMENT Finance Committee $ 77,833 $ 117,795 $ 105,700 $ 104,700 $ - $ 5,700 -11.1% $ (13,095) Finance & Operations $ 792,126 $ 893,468 $ 926,661 $ 926,661 $ - $ 926,661 3.7% $ 33,193 Legal $ 148,645 $ 165,640 $ 165,640 $ 165,640 $ - $ 165,640 0.0% $ - Moderator $ 300 $ 300 $ 300 $ 300 $ 300 $ 300 0.0% $ - Planning $ 140,189 $ 170,582 $ 183,516 $ 183,516 $ - $ - 7.6% $ 12,934 Selectmen / Administration $ 424,374 $ 441,278 $ 468,557 $ 468,557 $ - $ - 6.2% $ 27,279 Town Clerk $ 172,364 $ 176,545 $ 185,365 $ 185,365 $ 185,365 $ 185,365 5.0% $ 8,820 SUBTOTAL GENERAL GOVERNMENT $ 1,755,831 $ 1,965,608 $ 2,035,739 $ 2,034,739 $ 185,665 $ 1,283,666 3.5% $ 69,131 SAFETY & PROTECTION Building Inspections $ 373,379 $ 381,010 $ 409,020 $ 409,020 $ 409,020 $ 409,020 7.4% $ 28,010 Fire Department $ 1,993,312 $ 2,032,772 $ 1,989,696 $ 1,989,696 $ 1,989,696 $ 1,989,696 -2.1% $ (43,076) Health Department $ 224,956 $ 226,109 $ 244,176 $ 244,176 $ 244,176 $ 244,176 8.0% $ 18,067 Natural Resources $ 304,096 $ 305,523 $ 446,015 $ 446,015 $ 446,015 $ 446,015 46.0% $ 140,492 Police Department $ 2,521,891 $ 2,523,200 $ 2,666,710 $ 2,666,710 $ 2,666,710 $ 2,666,710 5.7% $ 143,510 SUBTOTAL SAFETY & PROTECTION $ 5,417,633 $ 5,468,614 $ 5,755,617 $ 5,755,617 $ 5,755,617 $ 5,755,617 5.2% $ 287,003 MAINTENANCE Public Buildings $ 134,294 $ 135,189 $ 159,770 $ 159,770 $ 159,770 $ 159,770 18.2% $ 24,581 Public Works $ 1,497,317 $ 1,588,579 $ 1,941,296 $ 1,941,296 $ 1,941,296 $ 1,941,296 22.2% $ 352,717 Snow & Ice Removal $ 243,120 $ 154,775 $ 154,775 $ 154,775 $ 154,775 $ 154,775 0.0% $ - Utilities $ 434,679 $ 434,888 $ 449,524 $ 461,886 $ - $ 449,524 6.2% $ 26,998 SUBTOTAL MAINTENANCE $ 2,309,410 $ 2,313,431 $ 2,705,365 $ 2,717,727 $ 2,255,841 $ 2,705,365 17.5% $ 404,296 HUMAN SERVICES Council on Aging $ 246,196 $ 247,997 $ 316,473 $ 316,473 $ 316,473 $ 316,473 27.6% $ 68,476 Veteran's Services $ 69,999 $ 76,267 $ 78,170 $ 78,170 $ - $ 78,170 2.5% $ 1,903 SUBTOTAL HUMAN SERVICES $ 316,195 $ 324,264 $ 394,643 $ 394,643 $ 316,473 $ 394,643 21.7% $ 70,379 CULTURE & RECREATION Brewsters Ladies Library $ 553,786 $ 557,178 $ 643,442 $ 643,442 $ - $ 643,442 15.5% $ 86,264 Recreation $ 131,594 $ 131,596 $ 193,652 $ 193,652 $ 193,652 $ 193,652 47.2% $ 62,056 Millsites $ 3,552 $ 8,200 $ 4,000 $ 4,000 $ 4,000 $ 4,000 -51.2% $ (4,200) SUBTOTAL CULTURE & RECREATION $ 688,931 $ 696,974 $ 841,094 $ 841,094 $ 197,652 $ 841,094 20.7% $ 144,120 % CHANGE YR / YR $ CHANGE YR / YR FY2019 FY2018FY2017GENERAL FUND Summary 3/16/2018 DEPT HEAD TOWN ADMINISTRATOR SELECTBOARD FINANCE COMMITTEE CATEGORY EXPENDED APPROPRIATED REQUESTED RECOMMENDED RECOMMENDED RECOMMENDED % CHANGE YR / YR $ CHANGE YR / YR FY2019 FY2018FY2017GENERAL FUND TOWN CONTRACTUAL OBLIGATIONS $ - $ 331,768 $ - $ - $ - $ - -100.0% $ (331,768) SUBTOTAL TOWN CONTRACTUAL OBLIGATIONS $ - $ 331,768 $ - $ - $ - $ - -100.0% $ (331,768) EDUCATION Elementary Schools $ 8,716,046 $ 8,720,731 $ 9,748,546 $ 9,748,546 $ - $ - 11.8% $ 1,027,815 Nauset Regional Schools $ 9,684,955 $ 9,684,955 $ 10,397,696 $ 10,397,696 $ - $ - 7.4% $ 712,741 Cape Cod Technical Schools $ 828,976 $ 831,711 $ 845,458 $ 845,458 $ 845,458 $ 845,458 1.7% $ 13,747 SUBTOTAL EDUCATION $ 19,229,977 $ 19,237,397 $ 20,991,700 $ 20,991,700 $ 845,458 $ 845,458 9.1% $ 1,754,303 DEBT SERVICE Principal & Interest $ 3,029,695 $ 3,338,813 $ 2,194,375 $ 2,194,375 $ - $ - -34.3% $ (1,144,438) SUBTOTAL DEBT SERVICE $ 3,029,695 $ 3,338,813 $ 2,194,375 $ 2,194,375 $ - $ - -34.3% $ (1,144,438) INSURANCE AND FRINGE BENEFITS General Insurance $ 421,534 $ 460,050 $ 554,738 $ 513,850 $ - $ - 11.7% $ 53,800 Fringe Benefits Including OPEB $ 4,189,786 $ 4,310,501 $ 3,796,932 $ 3,796,932 $ - $ - -11.9% $ (513,569) SUBTOTAL INSURANCE & FRINGE BENEFITS $ 4,611,320 $ 4,770,551 $ 4,351,670 $ 4,310,781 $ - $ - -9.6% $ (459,769) OTHER OPERATING EXPENSE & ASSESSMENTS Assessments $ 47,687 $ 47,687 $ 50,161 $ 50,161 $ - $ 38,881 5.2% $ 2,474 Alewives Committee $ 1,817 $ 3,400 $ 4,350 $ 3,450 $ 4,350 $ 4,350 1.5% $ 50 Stabilization Fund $ 45,000 $ 45,000 $ 45,000 $ 45,000 $ - $ - 0.0% $ - Local Service Funding $ 150,619 $ 141,459 $ 164,240 $ 164,240 $ 115,740 $ 166,240 16.1% $ 22,781 SUBTOTAL OTHER OPERATING EXPENSE & ASSESSMENTS $ 245,122 $ 237,546 $ 263,751 $ 262,851 $ 120,090 $ 209,471 10.7% $ 25,305 GRAND TOTAL OF GENERAL FUND OPERATING BUDGETS $ 37,604,115 $ 38,684,966 $ 39,533,954 $ 39,503,527 $ 9,676,796 $ 12,035,314 2.1% $ 818,561 Summary 3/16/2018