fy 2015 budget update board of selectmen february 18, 2014
TRANSCRIPT
FY 2015Budget Update
Board of Selectmen
Board of SelectmenFebruary 18, 2014
FY2015 Budget Update
•Revenue Projections•Operating Budget•Educational Budget(s)•Capital Budget
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Revenues
•Allowable Growth estimated $819,800•Local Receipts increase $ 40,000•Departmental Fees review▫ Transfer Station Fees – increase may
offset tax levy•State Aid Governor’s (House 1)
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FY2015 Revenue
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Tax Levy (not Tax Rate)•Property Tax FY2015 –Allowable Growth•$30,533,306 vs $30,008,306 ▫now $30,033,159(all inclusive)▫2.33% increase (projected)
• Local Receipts ▫Transfer Station Fee Increase
•Other Available Funds▫Old Articles, Waterways;
•Flat to FY2014 based on Gov’s H1 (1/22/14)
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Tax Levy
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Local Receipts
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FY2015 Operating Budgets
FY2013 Voted FY2014
TM Recommend
FY2015 % Change
I. General Government $ 1,898,390 $ 1,926,680 $ 1,982,884 2.9%
II. Public Safety $ 5,544,029 $ 5,754,115 $ 5,799,990 0.8%
III. Community Development $ 661,747 $ 715,365 $ 744,832 4.1%
IV. Health & Environment $ 805,927 $ 835,157 $ 859,986 3.0%
V. Public Works $ 4,252,406 $ 4,349,927 $ 4,458,063 2.5%
VI. Human & Public Services $ 921,677 $ 976,340 $ 999,260 2.3%
Sub-total: $ 13,896,630 $ 14,557,584 $ 14,845,015 1.97%
Continued on next slide
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FY2015 Operating Budgets
FY2013 Voted FY2014
TM Recommend
FY2015 % ChangeI – VI sub-total $ 13,896,630 $ 14,557,584 $ 14,828,373 1.9%
(From prior slide)VII. Debt Service $ 5,852,861 $ 7,905,583 $ 7,658,244 -3.1%VIII. Employee Benefits $ 4,219,258 $ 3,952,910 $ 4,142,970 4.8%IX. Undistributed/Reserve $ 342,353 $ 501,135 $ 537,085 7.2%
Total, I-IX $ 25,876,851 $ 26,916,212 $ 27,183,314 0.99%
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FY15 Expenses
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Operating Budget (Article 6)
•FY2015 proposed - $27,166,672 ▫$27,183,314
•Increase of $250,460▫$267,102
•0.93% over FY2014▫0.99%
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FY2015 Changes from Jan 28, 2014
Operating Budget• Community Development▫ Increase $16,642
• Monomoy Regional Schools▫ Decrease $26,595
• CCRTHS▫ Decrease $30,781
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FY2015 Capital Plan Changes
• Police Vehicle – 1 additional for a total of three vehicles for FY15• Adds $32,000 (tax levy & old articles)
• Outboard Engine – for patrol boat• Adds $10,000 (from Waterways
Improvement Fund)
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5 Five Year Capital PlanCAPITAL PROGRAM & BUDGET SUMMARY
FY 2015 FY 2015
Dept. Request TMGR RecommendationGeneral Government $217,500 $157,500 Public Safety 342,250 225,000Community Development 95,000 50,000Health & Environment 1,761,000 374,000Public Works (without Water) 1,363,500 938,500Equipment $587,800 $326,000 Total Town Funded Capital Budget 4,367,050 2,071,000Funding Sources: Free Cash 1,000,000 Waterways Improvement Funds 55,000 PEG Access Funds 30,000 Cemetery Sale of Lots 1,000 Shellfish Revolving Prior Articles 5,000Capital Exclusion Raise & Appropriate (available Tax Levy) 980,000 Total Funding Sources 2,029,000 2,071,000
($2,338,050) $0
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Capital PlanChatham Budget Update Feb 18, 2014
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Educational Assessments(Separate Articles)•Monomoy Regional ▫Overall Increase of 11.1% 10.9% in
assessment to Chatham ($819,604)▫793,009
▫Total Operating Budget 0.88% increase
▫Required Minimum Contribution ▫$336,245 due to change in FY14
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Monomoy Regional School District
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Cape Cod Regional Tech High School
• Budget Presentation 1/29/14
• Actual decrease in Chatham’s assessment▫Down 2 students from FY2014
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Cape Cod Regional Tech High School
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Next Steps
•Board of Selectmen Recommendations•Board of Selectmen Recommendations▫Presented 2/18/2014
•Budget Updates•Tax Levy – estimate•Sustainability – ▫5 year forecast (update)
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