2010 Municipal Budget - Appropriation TrendsEXPENDITURES 2007 2008 2009 2010

Salaries & Wages $16,489,515 $17,007,984 3.1% $17,224,614 1.3% $16,196,923 -6.0%

Operating Expenses $ 3,142,172 $ 3,074,828 -2.1% $ 3,056,002 -0.6% $ 2,929,795 -4.1%

Statutory/Required $12,756,542 $14,344,277 12.4% $15,798,828 10.1% $16,415,877 3.9%

5 Year Staffing Reductions:

18 F/T positions eliminated

17 P/T positions eliminated

8 F/T positions reduced to P/T

2010 Municipal Budget - Overview

Significantly declining revenue required the need to significantly reduce appropriations.

•Revenues down $2,464,004 (-15.18%) compared to 2009

•Total Municipal Budget is $555,269 (-1.40%) less than 2009

•Salaries & Wages down $1,027,691 (-5.97%)

•Operating expenses down $126,207 (-4.13%)

Revenue Sources

- State Aid (-$941,470) -23%

- Miscellaneous Revenue (-$35,374) -.59%

- Surplus (-$1,690,100) -35%

- Property Taxes (+$1,908,735) +8.15%

2010 Municipal Budget - Revenues

2010 Municipal Revenues $39,098,775

Chapter159/Grants 0%

Fund Balance, 3,133,000.008.01%

Misc. Revenue, 5,921,927.2315.15%

State Aid3,136,407.03

8.02%

Delinquent Taxes, 1,574,000.004.03%

Local Property Taxes, 25,333,441.11

64.79%

2010 State Aid Analysis - Revenues

FORMULA STATE AID

AID PROGRAMS 2007 2008 2009 2010

Consolidated Municipal Property Tax Relief Act (CMPTRA) $1,671,851 $1,473,690 $1,161,069 $529,527

Total Energey Tax Receipts Distribution $2,546,727 $2,708,389 $2,853,727 $2,543,799

Municipal Effeciency Performance Program $126,326

Municipal Homeland Security Assistance $140,000

Municipal Property Tax Assistance $84,686

Total State Aid $4,569,590 $4,182,079 $4,014,796 $3,073,326

-8.48% -4.00% -23.45%

-$387,511 -$167,283 -$941,470

2010 Anticipated Revenue Sources

•Municipal Court Fines and Fees $750,000 (-$34,000) -4.34%

•Parking Permits, Meters & Paystations $1,800,000 (+$138,000) +8.3%

•Building Department Fees $468,000 (-$132,000) -22%

•Interest on Income & Investments $16,000 (-$199,000) -92.5%

•State Aid $3,073,326 (-$941,470) -23%

•Delinquent Taxes $1,574,000 (+174,000) +12,4%

•Surplus $3,133,000 (-$1,690,100) -35%

2010 Surplus Analysis

• Surplus is considered to represent cash and may be utilized as a revenue item in the budget to support appropriations.

• Surplus results from the process of closing the operations account at the end of the fiscal year and is generated either by excess of revenue over what was anticipated in the budget or lesser expenditures than were appropriated in the budget. The net result of the two determines what amount of surplus will be available at the beginning of the next fiscal year. In addition to the surplus account the Town has maintained the sale of assets fund balance which has been a strategic surplus account.

• 2010 available surplus is $1,690,100 less than was appropriated in 2009.

Available Surplus Snapshot – January 1

2008 2009 2010Surplus $3,894,896 $2,848,351 $2,121,142Sale of Assets $3,848,407 $3,416,811 $1,293,711Total $7,743,303 $6,265,163 $3,414,853

2010 Municipal Budget - AppropriationsSalaries Budget down 5.97%

- $1,027,691

Departmental Operating Budgets down 4.13%

- $126,207

Debt Service up 6.40%

+ $96,580

Statutory/Required Expenditures up 3.91%

+ $617,049

Reserve for Uncollected Taxes down 0.51%

- $10,000

2010 Municipal Budget = $39,098,775

Salary & Wages 16,196,923

41%

Statutory/Required16,415,877

42%

Operating Expenses2,929,795

8%

Deferred Charges5,0000%

Reserve for Uncollected Taxes 1,940,000

5%

Debt Service1,606,180

4%

Capital Improvement Fund5,0000%

Did You Know…

The Municipal Budget includes appropriations for:

•Street Lighting $380,000

•Public Fire Hydrants $507,400

•Senior Transportation Services $61,200

•Reserve for Uncollected Taxes $1,940,000

•Leaf Collection & Disposal $255,000

•Curbside Recycling $226,000

2010 Municipal Tax CalculationTotal Appropriations $39,098,775

minus

Anticipated Revenues $13,765,334

equalsLocal Purpose Tax $25,333,440 (4% Cap +)

divided by

Total Ratable Value $1,906,148,482

equals

Local Tax Rate 1.329

per $100 assessed value

Avg. assessed home in 2010 = $185,100

Municipal budget = $15.08/month increase

2009 Total Tax Collections $131,255,887

County Taxes20.05%

$26,313,580.03

Town17.85%

$23,424,706.46

Board of Education61.22%

$80,348,683.00

County Open Space Tax

.89%$1,168,919.28

Continued Examination …

Continued examination of revenue sources with anticipated increases in various fines and fees in addition to implementing new fees where appropriate.

Continued examination of all expense items with anticipated reductions in programs, services and personnel to deliver a balanced budget in 2011.

Continued examination and management of debt service.

2011 Municipal Budget Challenges

•Preservation of Services (Public Safety, Leaf Collection, Snow Removal, Curbside Recycling, Conservation Center, Infrastructure Improvements, etc…)

•Continued Reduction in Expenses

•Continued Loss of Revenue: State AidSurplusMiscellaneous Revenues

•Potential new 2.5% Tax Levy Cap