2020-03-25-AC-ATM-rpt - Laserfiche WebLink

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APPROPRIATION COMMITTEE-2.020 ATM 25 March 2020 2. Creating additional sources of revenue. There may be opportunities to increase some fees or add new ones,but it is not clear that there are opportunities for significant increases. 3. Reducing service levels. 4. Relaxing of some of the goals embodied in the Town's fiscal policies,e.g.,curtailing contribu- tions to the Capital Stabilization Fund or other reserves. 5. Passing Proposition 2'/2 operating override(s) to permanently boost annual property tax reve- nue. Each of these alternatives involves important tradeoffs that we will not discuss here. It is also important to note that actions to reduce operating expenses or increase recurring annual revenues in one year will generally carry forward to reduce future deficits. For example,reductions in service levels, if not restored,will reduce future deficits without additional action in later years. However,actions to eliminate a projected deficit in one year that affect only budgeted revenues or expenses and not actuals generally will not carry forward because they will reduce the end-of-year budgetary surplus and thereby lower the carryover of funds that would then be available for expenditure the next year. 54