STATE OF THE TOWNMarch 1, 2010

Madison, Connecticut

CONSTRUCTION AND RENOVATION

Railroad Avenue rebuilt in 2009

Overbrook Road to be rebuilt in 2010

Downtown Center Project to start (finally) this spring

Rebuild Town Garage and Salt Storage Shed

MAJOR MAINTENANCE PROJECTS

Replaced roofs at the Town Gym and Island Avenue Elementary School

Installed new water system at Ryerson Elementary and Brown Middle School (Connecticut Water Co)

Brown Middle School conversion from electric to gas heat in gym and domestic hot water

Replaced boiler and domestic hot water system at Ryerson Elementary School

CHANGES IN THE POLICE DEPARTMENT

Police Commission – 3 new members

New Police Chief

Seven new officers hired since December 2008

SENIOR TAX RELIEF

Improved the tax abatement program last spring. Maximum benefit from $700 $950

Seventy two additional seniors in the abatement program: 336 408

A new charge for an ad-hoc committee just approved by the Board of Selectmen, featuring four new avenues for further study

Social ServicesInquiries to Municipal Agent for Elderly:

3,431 in 2008-09 (+52%)

Individuals receiving Financial Assistance: 76 in 2008-09 up from 14 in 2003-04 already at 84 in first six months of this year

State funded Energy Assistance application: 136 in 2008-09 (+55%) already at 111 in first 6 months of this year

FINANCIAL HIGHLIGHTS

Refinanced High School bonds at a lower interest rate, for a savings of $1,458K over 15 years ($266K in 2010-11)

Maintained bond rating of AA1 from Moody’s

Received “clean” opinion from auditor (again)

Funded pension with contribution required by actuaries

GRISWOLD UPDATE Charge for ad-hoc design committee approved

Committee selection in process – over 30 applications received

March 24 Issue 20 year bonds for $7.92M to cover purchase price +

bonding cost Issue 8 month notes for $500M to cover remediation costs

May 4 – Close on property; delay so we can qualify for a large state grant

GRISWOLD UPDATE (continued)

2010 – Remove runway and buildings, complete remediation

November – In conjunction with Senior Center/ Ambulance bonds, issue 20 year bonds for $1.08M LESS any state or federal grants.

2011 – Construct playing fields, trails, etc.

SENIOR CENTER/AMBULANCE FACILITY

Expect final approvals from Planning & Zoning this week

Construction start at Bradley Road site this spring

Move into new Senior Center early 2011

Move into new Ambulance Garage late 2011

FIVE YEAR CAPITAL PLAN ($000)2009-10Funding

1/28/10Balance

2010-11 Budget

2011-12 Est.

2012-13 Est.

2013-14 Est.

2014-15 Est.

LOCAP $1,125 $1,628 $1,125 $1,160 $1,195 $1,230 $1,265

Technology 65 251 ---- 30 30 30 30

Major Roads 135 898 335 350 375 400 400

Highway Equipment

135 172 135 150 150 150 150

Town Center Restoration

---- 99 ---- TBD TBD TBD TBD

Ambulance 45 113 45 65 65 60 60

Fire Trucks 235 341 220 240 250 250 250

Police Cars 42 9 48 50 55 60 65

Communications 25 250 ---- 50 50 50 50

Fire Equipment 30 52 30 30 30 30 30

Water Tanks 50 91 30 50 50 50 50

Total $1,887 $3,904 $1,968 $2,175 $2,250 $2,310 $2,350

POTENTIAL NEW DEBT CAPACITY

2011 $15 Million

2012 $10 Million

2013 $5 Million

2014 $5 Million

Note: This is a pro forma analysis only.No new projects are being proposed

Municipal Per Capita ExpendituresCurrent Year (2009-10) Budget

Population 16,000 to 20,000

1. New Canaan $2,285

2. Rocky Hill $1,605

3. Ansonia $1,588

4. Bethel $1,271

5. Seymour $1,227

6. Plainville $1,156

7. East Lyme $1,113

8. Monroe $1,088

9. Brookfield $1,050

10. Madison $1,043

11 Montville $983