PRIORITIES COMMITTEE
February 2, 2012
MINUTES
The meeting of the Priorities Committee was held at 7:30 pm in the Selectmen's Meeting room
and was called to order at 7 :30 p.m. by Chair Ira Miller.
Members Present:
Chair: Ira Miller
Board of Selectmen: Richard Powell and Walter Joe Roach
Finance Committee: Charles Goodman
School Committee: John Hitter and Glenn Allen
Others Present:
William Fowler, Cindy Doherty, Benjamin E. Puritz and Alex Korin
I. Meeting Minutes
Approval of Minutes
The Priorities Committee Regular Session minutes of January 19, 2012
MOTION: To approve the minutes of the Priorities Committee meeting of January 19,
2012 (Roach/Allen) - Unanimous
II. Continue Review of FY2012 to date
Finance Director, Bill Fowler, distributed to the Committee the comparison spreadsheet and discussed extensively line by line the following:
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FY12 |
FY12 |
@ TM to |
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REVENUE SOURCES: |
@ TM |
@ Recap |
@ Recap |
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TAXATION: |
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||
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FY levy base: |
50,650,516 |
50,650,516 |
0 |
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2 1/2% increase: |
1,266,263 |
1,266,263 |
0 |
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New Growth: |
400,000 |
526,232 |
126,232 |
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Override: |
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Net Debt Exclusion: |
3,211,093 |
3,160,908 |
(50,185) |
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Levy Limit: |
55,527,872 |
55,603,919 |
76,047 |
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Excess Levy Capacity: |
(3,136,265) |
(3,153,718) |
(17,454) |
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Net Tax Revenue: |
52,391,607 |
52,450,200 |
58,593 |
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Supplemental tax revenue: |
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Total Tax Revenue: |
52,391,607 |
52,450,200 |
58,593 |
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Assessed Valuation: |
2,600,675,401 |
2,608,165,100 |
7,489,699 |
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Tax Rate: |
20.15 |
20.11 |
(0.04) |
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Levy Ceiling: |
65,016,885 |
65,204,128 |
187,242 |
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% increase in tax levy: |
3.47% |
3.58% |
0.116% |
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STATE AID: |
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Green Sheet: |
7,884,221 |
7,947,844 |
63,623 |
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School Construction (SBA): |
1,950,626 |
1,950,626 |
0 |
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Total State Aid: |
9,834,847 |
9,898,470 |
63,623 |
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LOCAL SOURCES: |
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Local receipts: |
4,644,561 |
4,241,077 |
(403,484) |
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Community Preservation funds: |
530,685 |
744,850 |
214,165 |
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Total Local Sources: |
5,175,246 |
4,985,927 |
(189,319) |
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AVAILABLE FUNDS: |
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Additional State Aid: |
|
58,128 |
58,128 |
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Ambulance Reserve: |
515,000 |
515,000 |
0 |
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Community Preservation Act: |
208,406 |
208,406 |
0 |
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Free Cash: |
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0 |
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F/B Excluded Debt |
133,076 |
133,076 |
0 |
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Receipts Reserved for Retro MSBA (debt) |
65,500 |
65,500 |
0 |
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Receipts Reserved for App Wilbur (debt) |
425,158 |
425,158 |
0 |
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Mitigation (Brickstone) |
325,000 |
325,000 |
0 |
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Overlay Reserve Released: |
450,000 |
450,000 |
0 |
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Stabilization Fund |
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0 |
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Excess Norfolk Retirement: |
151,365 |
151,365 |
0 |
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Reauthorized capital funding: |
162,866 |
162,866 |
0 |
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Septic Loan Program receipts: |
86,636 |
86,636 |
0 |
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State Transportation Bond: |
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0 |
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Unemployment Reserve: |
25,000 |
25,000 |
0 |
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Total Available Funds: |
2,548,007 |
2,606,135 |
58,128 |
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FY12 |
FY12 |
@ TM to |
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@ TM |
Actual |
@ Recap |
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GROSS REVENUE AVAILABLE: |
69,949,707 |
69,940,733 |
(8,975) |
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ADJUSTMENTS TO REVENUE |
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LESS ASSESSMENTS & OFFSETS: |
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Certified for tax title: |
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0 |
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CPA - unappropriated |
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0 |
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CY debt not appropriated |
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0 |
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Overlay Deficits: |
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0 |
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Offsets (Reserved for Direct Expenditure): |
(25,231) |
(25,231) |
0 |
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Potential court judgments: |
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0 |
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PY debt to be raised: |
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0 |
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PY deficits: |
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0 |
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Revenue deficits: |
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0 |
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Total Cherry Sheet charges: |
(792,728) |
(786,895) |
5,833 |
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Overlay: |
(500,000) |
(496,858) |
3,142 |
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Total Assessments & Offsets: |
(1,317,959) |
(1,308,984) |
8,975 |
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NET AVAILABLE FOR |
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APPROPRIATION @ TOWN MEETING: |
68,631,748 |
68,631,749 |
0 |
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LOCAL SOURCES: |
FY12 |
FY12 |
@ TM to |
|
General Fund |
@ TM |
Actual |
@ Recap |
|
Motor Vehicle Excise: |
2,413,000 |
2,432,337 |
19,337 |
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Other excise (including Hotel tax): |
90,000 |
112,000 |
22,000 |
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Penalties & interest on taxes: |
170,000 |
220,000 |
50,000 |
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Payments in lieu of taxes: |
1,740 |
1,740 |
- |
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Other charges for services: |
54,135 |
54,000 |
(135) |
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Fees: |
162,500 |
145,000 |
(17,500) |
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Rentals: |
286,008 |
299,000 |
12,992 |
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Departmental Revenue – Schools: |
165,000 |
165,000 |
- |
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Departmental Revenue – Libraries: |
- |
0 |
- |
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Departmental Revenue – Recreation: |
- |
0 |
- |
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Other departmental revenue: |
80,000 |
55,000 |
(25,000) |
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Licenses & permits: |
654,000 |
369,000 |
(285,000) |
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Special assessments: |
103,178 |
35,000 |
(68,178) |
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Fines & forfeitures: |
125,000 |
112,000 |
(13,000) |
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Investment earnings: |
240,000 |
216,000 |
(24,000) |
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Miscellaneous recurring: |
- |
0 |
- |
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Miscellaneous non-recurring: |
100,000 |
25,000 |
(75,000) |
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TOTAL: |
4,644,561 |
4,241,077 |
(403,484) |
· It was asked that the fees, permits, licenses and fines be defined;
· The Town Accountant, Cindy Doherty, informed the Committee that as of February 2, 2012 we have received about 65.33% collection on revenue. The Town Accountant distributed a year-to-date budget report;
· Discussed Tax Title Redemption and collection of back taxes;
· Working on FY’13 Tax Title now;
III. First Draft of First Priorities Worksheet FY2013
Finance Director, Bill Fowler, distributed the 1st draft of 1st priorities
worksheet FY’2013. Mr. Fowler discussed line by line items explaining each and every one of them. Discussed was Revenue Sources: Taxation – State Aid – Local Sources – Available Funds – Gross Revenue Available – Adjustments to Revenue Less Assessments and Offsets State Aid (Green Sheet) – Fix, Uncontrollable or Special Expenditures.
· State Aid: down 1.8% in revenue and down in the charges;
· Foreclosures to clean up balance;
· Looking to increase fees;
· Fees down from $236,000 to $185,000 (Committee requested to cut down $51,000);
· Other Departmental revenues: Schools (medicare reimbursement and MSBA) – Library (rental of rooms for meetings);
New Growth:
· Have been carrying permits on Sharon Commons for last two years;
· Expect to receive FY’13 $200,000 in permits re Sharon Commons;
· Every expectation Sharon Commons will prevail;
· Timing of Sharon commons – November 2012;
· Town Accountant: You can always re-adjust an estimate re permits;
· Fines and forfeitures increased a little – example new railroad parking equipment – Revolving Fund to maintain parking lot;
· Overlay releases actually look at what you already collected verses what you already booked for receivables – The more you raise for overlay this year the more potential release we have for next year;
· Will revisit the Stabilization Fund at the next scheduled Priorities meeting.
The Insurance Budget has been deferred until the next meeting due to
lateness in time.
V. Next Meeting: Thursday, February 7, 2012 at 8:30 p.m. – Selectmen’s
Meeting Room.
MOTION: To adjourn the meeting at 8:55 p.m. (Powell/Goodman) - unanimous