Budget Pres BOS 1 11 11

							Town of Plymouth
           2012 Budget Presentation
               January 11, 2011

Joint Meeting with BOS, A & F and School Committee

          Mark Stankiewicz, Town Manager
          Lynne Barrett, Director of Finance
     2012 Budget Challenges
• How do we maintain level service
  – State Aid
    • “Despite almost a billion in revenue growth, the
      state faces a fiscal 2012 shortfall of approximately
      $2 billion with no federal stimulus dollars and
      limited state reserves,” said Michael Widmer,
      president of the Massachusetts Taxpayers
      Foundation. “The 2012 budget will require yet
      another round of cuts in local aid, human services,
      higher education, and almost all other state
      programs.”
                                                  Cherry Sheet State Aid

$30,000,000


$29,000,000                                                              $28,916,919


$28,000,000

                                                                                       $26,913,758
                                                                                                      $26,998,607
$27,000,000
                                                           $26,790,654

$26,000,000                                                                                                           Cherry
                                             $25,604,830                                                              Sheet
                                                                                                        $25,648,677   Budget
$25,000,000

                                                                                                                      Cherry
$24,000,000                                                                                                           Sheet
                                                                                                                      Actual

$23,000,000

                               $22,299,745
$22,000,000


                 $21,168,855
$21,000,000


$20,000,000
              2005       2006          2007          2008          2009          2010          2011      2012 Town
                                                                                                          Estimate
                                               LOCAL RECEIPT TRENDS

16,000,000



                   $15,216,034
15,000,000
                                                             $14,784,745
                                 $14,654,740



14,000,000
                                               $13,900,627
                                                                                         $13,796,095
                                                                           $13,704,463



13,000,000



                                                                                                                $12,181,000

12,000,000



                                                                                                       $11,314,587
11,000,000




10,000,000
             Actual 2005   Actual 2006   Actual 2007   Actual 2008   Actual 2009   Actual 2010   Budget 2011   Estimate 2012
Local receipt concerns:

      Medicare Part B Reimbursement Elimination Fiscal 2013 - $400k

      Plymouth County Facility MOU Agreement - $600k
• Property Taxes:
  – 2 ½ % Increase equals $3,041,365
  – Debt Exclusion for PNHS & Senior Center:
      • Includes $825,000 for both, equivalent of .09 cents per
        $1,000 of value on the tax rate

  Property Values (Fiscal 2011 Valuation):   $   8,829,548,161
  Plymouth Average Home Value 2011:               $307,975.00
  Annual Cost for that Homeowner:                       $28.78
  Cost per thousand of Home Value                     $0.0934


  – No use of Excess Levy Capacity
      • Currently at $6.6 million

  – New Growth Estimate of $974,604
      • Equivalent of 75% of 2011 New Growth
                                                    New Growth

$4,000,000



$3,500,000
                $3,390,352

$3,000,000                      $3,061,165



$2,500,000



$2,000,000

                                                $1,777,968
                                                                 $1,603,439
$1,500,000
                                                                                                 $1,299,472

$1,000,000
                                                                                 $1,068,931
                                                                                                              $974,604

 $500,000



        $-
             2006            2007            2008            2009             2010            2011     2012 Estimated
                                         Excess Levy Capacity

$9,000,000
                          $8,497,252
                                       $8,286,759

$8,000,000

                                                    $7,029,898
$7,000,000
                                                                              $6,587,421    $6,587,421
             $6,195,848
$6,000,000                                                       $5,817,173



$5,000,000



$4,000,000



$3,000,000



$2,000,000



$1,000,000



        $-
               2006         2007         2008         2009         2010         2011       2012 Estimated
• Other Sources & Available Funds:

  – Free Cash, Overlay & Stabilization Fund for
    Debt Service
    • Free cash - $1,000,000
    • Stabilization Fund - $700,000
    • Overlay Surplus - $511,000


• Remaining Free Cash Reserved for
  Capital Plan
                                                  Stabilization Fund Balances

14,000,000


             $12,033,730
12,000,000
                     $11,040,259
                                                                                              $10,578,364

10,000,000                         $9,784,983 $9,910,554
                                                           $9,343,414
                                                                        $8,895,465
                                                                                 $8,517,904                 $8,573,453
                                                                                                                                      $8,264,423
                                                                                                                         $8,021,759
 8,000,000




 6,000,000




 4,000,000




 2,000,000




        0
              2001         2002       2003       2004         2005       2006       2007         2008          2009         2010         2011
  2012 Budget Challenges & Beyond

• State Aid & Local Receipts
  – FATM we will make the necessary
    adjustments
• Keep Current Services
• Keep Tax Increases to a Minimum

• Reduce Fixed Cost Increases