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Town of Milton 2014 Annual Town Meeting
A Financial Review FY2001 - FY2015
Table 9 update TABLE 9
SCHOOL APPROPRIATION
FY 12 Actual
FY 13 Actual
FY 14 Appropria?on
FY 15 Requested
$ Change FY 14 to FY 15
% Change FY 14 to FY 15
PROGRAM AREA
Policy and Administra?on Salaries $791,202 $829,827 $905,098 $962,800 $57,702 6.38% Expenses $184,433 $239,702 $337,800 $251,800 ($86,000) -‐25.46% Total $975,635 $1,069,529 $1,242,898 $1,214,600 ($28,298) -‐2.28%
Instruc?onal Leadership Salaries $2,131,204 $2,237,688 $2,630,721 $2,749,300 $118,579 4.51% Expenses $91,107 $63,162 $65,162 $60,000 ($5,162) -‐7.92% Total $2,222,311 $2,300,850 $2,695,883 $2,809,300 $113,417 4.21%
Instruc?on Salaries $16,392,546 $16,748,443 $17,663,497 $18,599,200 $935,703 5.30% Expenses $443,148 $367,739 $548,727 $763,042 $214,315 39.06% Total $16,835,694 $17,116,182 $18,212,224 $19,362,242 $1,150,018 6.31%
Instruc?onal Services Salaries $2,251,580 $2,166,805 $2,224,225 $2,365,000 $140,775 6.33% Expenses $338,969 $433,640 $428,640 $537,000 $108,360 25.28% Total $2,590,549 $2,600,445 $2,652,865 $2,902,000 $249,135 9.39%
SPED Salaries $5,040,944 $5,831,969 $5,607,348 $5,850,000 $242,652 4.33% Expenses $3,223,630 $3,518,073 $4,028,309 $4,185,000 $156,691 3.89% Total $8,264,574 $9,350,042 $9,635,657 $10,035,000 $399,343 4.14%
Technology Salaries $272,409 $320,907 $332,777 $340,000 $7,223 2.17% Expenses $164,264 $158,891 $176,716 $245,000 $68,284 38.64% Total $436,673 $479,798 $509,493 $585,000 $75,507 14.82%
Facili?es Salaries $1,160,724 $1,372,313 $1,341,295 $1,371,000 $29,705 2.21% Expenses $1,389,282 $1,123,185 $1,276,236 $1,395,000 $118,764 9.31% Total $2,550,006 $2,495,498 $2,617,531 $2,766,000 $148,469 5.67%
Salaries $28,040,609 $29,507,952 $30,704,961 $32,237,300 $1,532,339 4.99% Expenses $5,834,833 $5,904,392 $6,861,590 $7,436,842 $575,252 8.38% Total $33,875,442 $35,412,344 $37,566,551 $39,674,142 $2,107,591 5.61%
Table 9 update
FY 12 Actual
FY 13 Actual
FY 14 Appropria?on
FY 15 Requested
$ Change FY 14 to FY 15
% Change FY 14 to FY 15
Salaries $28,040,609 $29,507,952 $30,704,961 $32,237,300 $1,532,339 4.99%
Expenses $5,834,833 $5,904,392 $6,861,590 $7,436,842 $575,252 8.38%
Total $33,875,442 $35,412,344 $37,566,551 $39,674,142 $2,107,591 5.61%
Property Taxes (2.5%) 1,812,030
Change in New Growth 49,318
Change in Local Receipts 187,950
Change in Water & Sewer Indirect (64,089)
Change in State and Federal Aid 279,876
Total Change in Income 2,265,055
Free Cash (233,135)
Overlay Reserve (121,213)
StabilizaXon Fund 176,847
Total Change in Amount Available from Reserves 2,087,554
Total Change in Amount Available for AppropriaXon 2,087,554
Change in Income, Reserves and amount Available for AppropriaXon
Reserves and Bond RaXng • StabilizaXon Fund
– Balance $3,461,574
• Capital StabilizaXon Fund – Balance $738,125
• Post Employment Benefits StabilizaXon Fund – Balance $283,986
• Bond RaXng – S&P -‐ AAA
CalculaXng Your Tax Bill (a) Total amount to be raised 99,865,680 (b) Total esXmated receipts and other revenue sources 31,122,457 (c) Tax Levy (a-‐b) 68,743,223
(d) ResidenXal Class % 93.9140%
(e) Amount to be raised from ResidenXal Class (c * d) 64,559,510
(f) Total ResidenXal Assessed ValuaXon 4,207,459,904
(g) Tax Rate (e / f * 1000) 15.34
(h) Average Single Family Home Assessed Value 516,317
(i) Single Family Tax Bill (h / 1000 * g) 7,922
Financial Charts
Net State Aid 1981-‐2015
$(1,000,000)
$-‐
$1,000,000
$2,000,000
$3,000,000
$4,000,000
$5,000,000
$6,000,000
$7,000,000 1981
1982
1983
1984
1985
1986
1987
1988
1989
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
Data from Department of Revenue Municipal Data Bank. FY2014 reflects House Budget.
Average Single Family Tax Bill: How Milton ranks in the State
0
5
10
15
20
25
30
35
40
45
50
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
State Ra
nking, Top
50 To
wns
Data from Department of Revenue Municipal Data Bank
Annualized Revenues: 2001-‐2015
$0.80
$0.90
$1.00
$1.10
$1.20
$1.30
$1.40
$1.50
$1.60
$1.70
$1.80
$1.90
$2.00
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Growth of $
1
2.5% Trend Line 5% Trend Line Total DiscreXonary Revenue Property Taxes Local Receipts State & Federal Aid
Does not include water & sewer or debt exclusion funds. 4.77%
1.14%
3.84%
1.10%
State Aid reflects House Budget
69%
10%
17%
4%
Revenue FY2001
Property Taxes Local Receipts State Aid Available Funds
Revenue Breakdown FY2001-‐FY2015
Does not include water & sewer or debt exclusion funds.
78%
7%
12% 3%
Revenue FY2015
Property Taxes Local Receipts State Aid Available Funds
State Aid reflects House Budget
Revenue Breakdown FY2001-‐FY2015
Does not include water & sewer or debt exclusion funds.
Revenue Breakdown % Change FY01-‐FY15
9.19%
-‐3.17%
-‐5.24%
-‐0.78%
-‐6.00%
-‐4.00%
-‐2.00%
0.00%
2.00%
4.00%
6.00%
8.00%
10.00%
Property Taxes Local Receipts State Aid Available Funds
Does not include water & sewer or debt exclusion funds. State Aid reflects House Budget
Annualized Expenditures: Budget Busters
$1.00
$1.10
$1.20
$1.30
$1.40
$1.50
$1.60
$1.70
$1.80
$1.90
$2.00
$2.10
$2.20
$2.30
$2.40
$2.50
$2.60
$2.70
$2.80
$2.90
$3.00
$3.10
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Growth of $
1
2.5% Trend Line 5% Trend line Total Expenditures Insurance General Group Insurance
8.20%
6.72%
3.91%
Total Expenditure excludes water & sewer and debt exclusion funds.
A reduction in Workers Compensation caused the dip in Insurance General in 2006
The steep FY06 increase in Public Works is in part due to reorganization.
The rise in FY10 for Public Works reflects increased funding for
Vehicle Maintenance
Total Expenditure excludes water & sewer and debt exclusion funds.
Prior year costs and supplemental appropriations are included in the relevant year.
$1.00
$1.20
$1.40
$1.60
$1.80
$2.00
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
2.5% Trend Line 5% Trend line Total Expenditures Public Works Fire Police MPS
Annualized Expenditures: Largest Four Budgets
4.90%
3.31%
3.91%
3.67%
2.33%
Departmental AllocaXons FY2001-‐FY2015
School Department
48%
Fire 6%
Police/Youth 9% Public Works
6%
Insurance General 1%
ReXrement 5%
Group Insurance 8%
All Other 17%
2001
Excludes water & sewer and debt exclusion funds.
School Department
46%
Fire 6%
Police/Youth 7% Public Works
5%
Insurance General 1%
ReXrement 6%
Group Insurance 12%
All Other 17%
2015
Departmental AllocaXons FY2001-‐FY2015
Excludes water & sewer and debt exclusion funds.
% Change in Departmental AllocaXons FY01-‐FY15
-‐1.52%
-‐0.47%
-‐1.96%
-‐0.60%
0.48% 0.60%
3.74%
-‐0.27%
-‐3.00%
-‐2.00%
-‐1.00%
0.00%
1.00%
2.00%
3.00%
4.00%
5.00%
School Department Fire Police/Youth Public Works Insurance General ReXrement Group Insurance Other Departments
Excludes water & sewer and debt exclusion funds.
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