Revenue by xiuliliaofz

VIEWS: 3 PAGES: 6

									             Town of Middleton - Revenue                   FY02            Change          FY03        % Chng

     Part 1 - Property Tax Revenue
 1   FY02 Tax Levy for Operations                       $ 10,456,932
 2   FY02 Debt Exclusion                                $ 1,333,175
 3   FY02 Actual Tax Levy                               $ 11,790,107
 4   FY02 Budgeted Unused Tax Levy                      $     31,035
 5   FY02 Unbudgeted Growth                             $    314,349
 6   FY03 2 1/2 Levy Increase Limit                                         270,058
 7   FY03 Override                                                     $    191,000
 8   FY03 Growth                                                       $    300,000
 9   FY03 Operational Levy Limit                                                        $ 11,563,374
10   FY03 Debt Exclusion                                               $    46,845      $ 1,380,020
11             Total Property Tax Levy Limit            $ 12,135,491   $   807,903      $ 12,943,394     6.7%
12    Maximum Operational Revenue from Taxation                        $ 1,106,442                      10.6%

     Part 2 - State Revenue
13   Local Aid                                       $   944,915       $     (94,492)   $   850,423     -10.0%
14   Ch70 Education Funding                          $ 1,014,589       $         -      $ 1,014,589       0.0%
15   Cherry Sheet Charges                            $ (134,357)       $     (13,436)   $ (147,793)     -10.0%
16                               Total State Revenue $ 1,825,147       $    (107,928)   $ 1,717,219      -5.9%

     Part 3 - Other Local Revenue
17   Local Receipts                                     $ 1,700,000    $    200,000     $ 1,900,000      11.8%
18   Transfer from Free Cash                            $   150,000    $        -       $   150,000       0.0%
19   MELD payment in Lieu of Taxes                      $    99,785    $      1,865     $   101,650       1.9%
20   Overlay Account                                    $ (321,657)    $     21,657     $ (300,000)       6.7%
21   Offset Items                                       $   (10,664)   $        -       $   (10,664)      0.0%
22   Ferncroft Fund Interest Xfer                       $     5,000    $     (5,000)    $       -      -100.0%
23   Unemployment Fund Xfer                             $       -      $      7,000     $     7,000         NA
24   Ambulance Fund Transfer                            $   110,000    $     20,000     $   130,000      18.2%
25   Senior Center Fees & Grants                        $    16,500    $        -       $    16,500       0.0%
26   Fire Alarm Fees                                    $    10,000    $        -       $    10,000       0.0%
27   Other                                              $   (26,698)   $     26,698     $       -       100.0%
28                                Total Local Revenue   $ 1,732,266    $    272,220     $ 2,004,486      15.7%

29                Total Revenue Limit                   $ 15,692,904   $   972,195      $ 16,665,099     6.2%
30            Total Available New Revenue                              $ 1,270,734
Town of Middleton - Expenses
                                           FY02            Change           FY03       FY03          % Chng
Part 1 - Omnibus Budget                 Appropriated                       Budget     Override     with / without
                                                                                                      override
General Government                      $   824,825    $     14,967    $   839,792    $      -          1.8%
Public Safety                           $ 1,957,623    $    134,192    $ 2,025,815    $   66,000   3.5% / 6.9%
Public Works                            $ 1,009,341    $     25,404    $ 1,034,745    $      -          2.5%
Human Services                          $   241,142    $      4,367    $   245,509    $      -          1.8%
Culture and Recreation                  $   294,590    $      6,130    $   300,720    $      -          2.1%
Excluded Debt Service                   $   891,291    $     31,640    $   922,931    $      -          3.5%
Non-Excluded Debt Service (Xfer Sta.)   $    56,182    $     (1,982)   $    54,200    $      -         -3.5%
Unclassified                            $   806,400    $     32,500    $   838,900    $      -          4.0%

Local Elementary Schools                $ 4,969,961    $    236,063    $ 5,206,024    $     -         4.7%
Masconomet Regional School              $ 3,282,319    $    312,481    $ 3,469,800    $ 125,000    5.7% / 9.5%
Masconomet Debt Service                 $   589,545    $     15,205    $   604,750    $     -         2.6%
No. Shore Technical High School         $   147,505    $      2,958    $   150,463    $     -         2.0%

Water Operating Budget                  $    84,725    $     10,381 $        95,106   $      -        12.3%
Water Debt Service                      $    64,371    $     (2,245) $       62,126   $      -        -3.5%

                Total Omnibus Budget $ 15,219,820      $    822,061    $ 15,850,881   $ 191,000        5.4%

Part 2 - Capital Budget

Capital Warrants from Tax Levy          $   127,700    $     17,925    $    145,625                   14.0%
                   Total Capital Budget $   127,700    $     17,925    $    145,625   $      -        14.0%

 Total Operating Budget Expenses        $ 15,347,520   $    839,986    $ 16,187,506                    5.5%
FY03 Warrant Articles
 #            Description                              Amount     Fincom       Total      Total Not       Source
                                                                   Rec.                   Rec'mnd
 4    Masconomet Regional School      Op Budget    $    125,000     Yes    $   125,000   $       -       Override
 5         Insurance Petition                      $     45,000     No     $       -     $ 45,000        Taxation
 6     Public Water Line Petition                  $     12,500     Yes    $    12,500   $       -      Water Fund
                      "                            $     15,000     Yes    $    15,000   $       -  Encumbered Warrant
  7      Tobacco Law Change
  8             FPL Trailer                        $      6,000    Yes     $     6,000   $     -        Taxation
  9       Skate Park Location                                              $       -     $     -
 10         Skateboard Park                        $     37,000    No      $       -     $ 37,000      Free Cash
 11         Fire Radio Equip                       $      6,700    Yes     $     6,700   $     -        Taxation
 12      Automatic Defibrilator                    $     20,000    Yes     $    20,000   $     -     Ambulance Fund
 13        Ambulance Billing                       $     13,500    Yes     $    13,500   $     -     Ambulance Fund
 14         Firearms Licence                                       Yes     $       -     $     -
 15           Public Safety            1 officer   $     66,000    Yes     $    66,000   $     -        Override
 16     Library Program Coord.                     $      6,635    No      $       -     $   6,635      Taxation
 17    Vote Tabulation Machines                    $     12,000    Yes     $    12,000   $     -        Taxation
 18            DPW Roads                           $    148,200    Yes     $ 148,200     $     -      Chp 90 Funds
 19      DPW Stormwater PhII                       $     10,000    Yes     $    10,000   $     -       Water Fund
 20            Dump Truck                          $     46,000    No      $       -     $ 46,000       Taxation
 21             Light Dept                                         Yes     $       -     $     -
 22             Light Dept                                         Yes     $       -     $     -
 23           Public Safety           Civ. Disp.   $     50,500    No      $       -     $ 50,500       Override
 24             Fire Truck                         $    130,000    No      $       -     $ 130,000     Free Cash
                      "                            $    125,000    No      $       -     $ 125,000     Stabilization
 25     PS Bldg Land Appraisals                    $     37,000    No      $       -     $ 37,000    Overlay Reserve
 26        Police Body Armor                       $      8,800    Yes     $     8,800   $     -        Taxation
 27            Ogden Lane                                                  $       -     $     -
 28            Ingall's Way                                                $       -     $     -
 29           Right of Way                                                 $       -     $     -
 30    Memorial Hall Renovations                   $     30,000    Yes     $    30,000   $     -     Overlay Reserve
 31        Old Town Hall Lift                      $     50,000    Yes     $    50,000   $     -       Stabilization
 32        HM Septic Design                        $     20,000    Yes     $    20,000   $     -   Encumbered Warrant
 33           School Equip                         $     10,000    Yes     $    10,000   $     -   Encumbered Warrant
                                                   $     29,500    Yes     $    29,500   $     -     Overlay Reserve
                                                   $      7,800    Yes     $     7,800   $     -        Taxation
 34        HM HVAC Ph II                           $     47,000    Yes     $    47,000   $     -     Overlay Reserve
 35    DPW Roof Replacement                        $     23,000    Yes     $    23,000   $     -     Overlay Reserve
 36       School Technology                        $     49,800    Yes     $    49,800   $     -       Free Cash
 37      SPED Kingergarten                         $    104,325    Yes     $ 104,325     $     -        Taxation
 38    Transfer from Free Cash                     $    150,000    Yes     $ 150,000     $     -       Free Cash
 39 Free Cash Xfer to Stabilization                $    100,000    Yes     $ 100,000     $     -       Free Cash
 40                                                                        $       -     $     -
 41                                                                        $       -     $     -
 42                                                                        $       -     $     -
 43                                                                        $       -     $     -
 44                                                                        $       -     $     -
 45                                                                        $       -     $     -
 46                                                                        $       -     $     -
 47                                                                        $       -     $     -
 48                                                                        $       -     $     -
 49                                                                        $       -     $     -
 50                                                                        $       -     $     -
 51                                                                        $       -     $     -
 52                                                                        $       -     $     -
 53                                                                        $       -     $     -
Total                                              $ 1,542,260             $ 1,065,125   $ 477,135
              Town of Middleton
Budget Impact on Residential Tax Bills

              Average FY02 Tax Bill
Total Valuation                                     $ 776,039,716
No. parcels                                                  2663
Ave Valuation                                       $     291,416
FY02 Tax Rate                                       $       12.13

             FY02 Home Valuation                    $     250,000   $    400,000   $    550,000
                FY02 Tax Bill                       $    3,032.50   $   4,852.00   $   6,671.50

              FY03 Town Growth
Budgeted Town Growth                                $    300,000
Budget Increase                                     $    839,986
Growth Contribution to Increase                           35.71%

       FY03 Non-Property Tax Receipts                                   State          Local
FY02 Non-Property Tax Revenue Ratio                                        11.9%          11.3%
FY03 Non-Property Tax Revenue Ratio                                        10.6%          12.4%
Budgeted Growth in Revenue                          $    164,292
Budget Limit                                        $    839,986
Non-Property Growth as % of Increase                      19.56%

            Average FY03 Tax Bill
FY03 Operating Budget Increase                             5.47%
FY03 Property Tax Increase                                 3.59%
FY03 Tax Rate (with FY02 valuation)                 $      12.57

             FY03 Home Valuation                    $     250,000   $    400,000   $    550,000
      FY03 Tax Bill w/ Rec'md Overrides             $    3,141.45   $   5,026.32   $   6,911.19
Tax Bill Changes                                    $      112.87   $     180.58   $     248.30

Masco Override Cost                                 $      30.34    $     48.54    $      66.74
Public Safety / Police Officer Override Cost        $      16.02    $     25.63    $      35.24
Public Safety / Civilian Dispatcher Override Cost   $      12.26    $     19.61    $      26.96
Total Overrides                                     $      58.61    $     93.78    $     128.95

                 Tax Rate Impact
Masco Override Cost                                 $       0.12
Public Safety / Police Officer Override Cost        $       0.06
Public Safety / Civilian Dispatcher Override Cost   $       0.05
                                FY03 Revenue Source Changes

          $350

          $300

          $250

          $200

          $150
(x1000)




          $100

           $50

             $0
                   New Growth     State Revenue   Local Revenue   Override   Property Tax

           ($50)

          ($100)

          ($150)
               FY03 Expense Distribution


       Total Expense                 Change in Expenses
100%

           Other                              Other
90%


80%
       Masconomet
                                           Masconomet
70%


60%


50%
        Elementary
          School
                                           Elementary
40%
                                             School
30%


20%
           Town
10%
                                             Town

 0%

								
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