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Town Manager

Posted on: April 19, 2019

FY 20 - Financial Plan - Fiscal Projection 2 - April 18, 2019

Fiscal Projection Two 

April 18, 2019 

To the Honorable Board of Selectmen, Finance Committee, and the residents and taxpayers of Shrewsbury:  

I am pleased to present this revised financial plan for fiscal year 2020.  This plan details revenue and proposed expenditures for the Town of Shrewsbury for this period. The expenditures detailed in the plan total $142,644,552, which is $1,531,936 less than the expenditures planned in the current fiscal year.  Changes made to fiscal projection one have resulted in the following adjustments: 

Revenue 

  1.  $1,222,000 increase in estimated excluded funding for a Beal Interest Payment January 2020
  2. $63,246 increase in State Aid following the release of the House Ways & Means Budget
  3. $79,325 increase in Sewer revenue due to article closeouts
  4.  $1,913 decrease in Water revenue a net change after balancing article closeouts
  5. $53,084 decrease in the use of Free Cash to support the operating budget
  6.  $440,000 increase in new revenue dedicated to the Cable Public Access Fund

Charges

  1.  $1,307,909 increase in the operating budget including:
    •  $1,222,000 for the Beal Debt Service, estimate
    •  $20,000 increase in Personnel Budget for Professional Improvement and New Salary Schedules
    • $19,767 increase in Assessors budget for currently staffed part-time Listers
    • $7,000 decrease in Treasure/Collector overtime allocation
    • $1,430 net decrease in Operating Support after reducing the General Insurance allocation and increasing the Information and Technology budget.
    • $3,200 increase in the Election and Registration budget for Poll Pads
    • $21,076 increase in Planning & Economic Development for 50% of and Administrative Assistant position shared with the Building Inspector’s office (see offset in line item above.).
    •  $22,595 net decrease in the Building Inspector’s budget after re-allocating the funding for an additional Assistant Building Inspector to an additional Administrative Assistant shared with Planning & Economic Development.
    • $4,568 decrease in the Public Works – Administration salary budget to reflect current FY 19 staffing levels
    • $167 net decrease in Council on Aging salary budget to reflect current FY 19 staffing levels
    • $2,000 increase to Library budget for required grant compliance materials costs
    •  $51,625 increase in Education budget following the release of House Ways and Means Budget
  2. $83,000 net increase in Sewer capital expenses to include pump station oil tanks
  3.  $1,761 net increase in Water expenses related to the reconciliation of indirect charges.
  4. $15,222 increase in State and County Charges following the release of the House Ways & Means Budget
  5.  $131,000 decrease to the Overlay following an analysis which determined the lower funding level to be appropriate
  6. $440,000 for the Cable Public Access Fund to be expended by Shrewsbury Media Connection.
  7.  $30,000 increase in the Capital improvement plan following an updated quote for Police & Municipal Campus Feasibility Study cost.
  8. $3,519 increase in Chapter 90 expenditures

Further detail on these adjustments can be found in the Master Balance Sheet and the Detailed Departmental Budgets that follow.   

Included in the below link please find the operating budget, Capital Improvements, and various other charges and expenditures.  All planned expenditures will be funded by the revenue sources detailed, thus a balanced budget is presented.  

Best Regards,

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Kevin J. Mizikar

Town Manager

FY 20 - Financial Plan - Fiscal Projection 2
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