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Budgeting 101

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Budgeting 101 Powered By Docstoc
					Budgeting 101 - Presented by MGFOA
     Sandy Pooler
     Tony Torrisi
     Al Tosti



Massachusetts Municipal Association
Annual Conference
     January 2011
What we are trying to avoid
Getting Started - Tony Torrisi
September through December


   Timetable/Budget Calendar
   Budget Development/Recommendations
      Departmental Expenditure Budgets

      Fixed Costs Expenditure Budgets

      Non-Town Meeting Expenditure Budgets

      Short and Long-term Capital Budgets
Review and Passage – Al Tosti
January through June


   Revenue forecasting
       Responsibility
       State Aid
       Local Revenues
   Budget Review
       Final Adopted Budget
          Selectmen, Fin. Com., Council

       Setting the Tax Rate
          Town Meeting or City Council

          Must balance!
Budget Monitoring – Sandy Pooler

   Expenditure Status Reports
       Overtime
       Snow and Ice
       SPED
       Health Insurance
Types of Revenue

  Steady          Mixed          Volatile
Property Tax   Motor Vehicle     Building
                   Tax           Permits

 Transfers         Fees         Investment
                                  Income

 State Aid*       Fines        Hotel & Meals
                                  Taxes
                                       City of Newton Total Snow and Ice Expenditures

6,000,000



                                                                      5,205,206
5,000,000




                                                                                                                      4,158,251
4,000,000                                                                                                 4,018,249

                                                                                                                                  3,692,184



3,000,000
                                              2,690,855
                        2,469,844                                                 2,522,690

                                                          2,134,941
2,000,000


                                                                                              1,478,623
            1,244,800
1,000,000
                                    867,637




       0
              FY00        FY01       FY02       FY03        FY04        FY05        FY06        FY07        FY08        FY09        FY10
End of Year – Sandy Pooler
   Closing the books
   Free Cash
       Deficits
          SPED

          Snow and Ice

       Capital Spending
       Policies
   Annual Audit
       Audit Committee?
       Management letter
Good luck in FY12!

				
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posted:8/28/2012
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