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FY2002 by rvc12495

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                   FY2002 MRGF Calculation

   This file produces a detailed description of the calculation of any
community's FY2002 municipal revenue growth factor, which is a
key component of the Chapter 70 state aid to education formula.
The growth factors contained in this workbook were used by the
Department of Education in calculating FY2002 Chapter 70 for the
Governor's budget (House 1).


   A companion file, mrgf2002.xls, provides spreadsheets that give
the calculations in column format for all 351 cities and towns.

   To see a community's numbers, click on the "reports" menu choice.




                                      Page 1
                                                                    Massachusetts Department of Revenue
                                                                           Division of Local Services
                                                   Preliminary Municipal Revenue Growth Factor (MRGF) Calculation, FY2002
                                                                                  WHITMAN
                                                                                                                                          Fiscal Year         Fiscal Year
                                                                                                                                              2001                2002
1. LEVY LIMIT BASE                                                    AMOUNT            3. CHANGE IN REVENUE SHARING                     Cherry Sheet          Estimates

   FY2001 Levy Limit Prior to Exclusions                                11,097,563          Additional Assistance
   Impact of FY1994-FY2001 Overrides on FY2001 Limit                                        Lottery                                               2,118,193         2,302,256
   FY2001 Limit Adjusted for Overrides                                  11,097,563          State Owned Land

                                                                                            TOTAL                                                 2,118,193         2,302,256


                                                                                                                                           FY2000              FY2001
2. INCREASE IN LEVY LIMIT GROWTH DUE TO NEW GROWTH                                      4. RECURRING LOCAL RECEIPTS                        Budget              Budget
             Levy Limit                       New                   Percentage
              Without          Certified     Growth                 of Previous             Motor Vehicle Excise                                   864,600           996,651
   Fiscal   Exclusions, CH       New        Adjusted                   Year's               Other Excise                                               700                20
   Year      Overides     653   Growth       for 653                    Limit               Penalties and Interest                                 130,000           165,000
                                                                                            Payments in Lieu
   FY1996          8,812,058                                                                Fines and Forfeits
   FY1997          9,193,350                 160,991      160,991           1.83%           Investment Income                                       70,000            76,200
   FY1998          9,593,984                 170,800      170,800           1.86%           Miscellaneous                                                            165,250
   FY1999         10,004,206                 170,372      170,372           1.78%
   FY2000         10,535,934                 281,623      281,623           2.82%           TOTAL                                                 1,065,300         1,403,121
   FY2001                                    298,231      298,231           2.83%
                                                                                        5. SUMMARY                                         Amount              Pct Chg
   Average of Last Three Years                                              2.48%
   Lowest Three of Last Four Years                                          2.15%           FY2001 MRGF Levy Limit                               11,097,563
   Maximum, Last Three Years                                                2.83%           FY2001 General Revenue Sharing                        2,118,193
   Average of Two Smaller Years                                             2.30%           FY2000 Budgeted Recurring Local Receipts              1,065,300
   Difference, Maximum Minus 2 Yr Average                                   0.53%           Total Base Municipal Revenues                        14,281,056

   Percent Increase in New Growth for MRGF                                  2.48%           FY2002 Estimated Levy Ceiling                        14,841,535
                                                                                            FY2001 Levy Limit * 1.025                            11,375,002
                                                                                            FY2002 Estimated New Growth                             275,220
                                                                                            FY2002 Estimated Levy Limit                          11,650,222               4.98
                                                                                            FY2002 General Revenue Sharing                        2,302,256               8.69
                                                                                            FY2001 Budgeted Recurring Local Receipts              1,403,121              31.71
                                                                                            Total Estimated Current Municipal Revenues           15,355,599

                                                                                            Change, Base to Current Revenues                      1,074,543               7.52



                                                                                            Preliminary FY2002 Municipal Revenue Growth Factor                            6.75 *

   *FY2002 MRGFs were capped at 6.75%, based on the Governor's FY2002 proposed amendments to Chapter 70.




       June 27, 2010

								
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