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Summary of Revenues & Expenditures
<br /> The summary provided below shows revenues&expenses for the Town of Lexington FY 2005-2007 This summary reflects unaudited actual
<br /> results from FY 2005, restated budgeted figures from FY 2006 and the recommendations of the Town Manager and Superintendent for FY 2007
<br /> These projections have not been voted by either the Board of Selectmen or School Committee, and are subject to further change and refinement.
<br /> Revenue Summary 1 FY 2005 FY 2006 FY 2007 FY 2006-2007 FY 2006-2007
<br /> Actual 2 Restated Proiected Change($) Change(°/v)
<br /> Tax Levy
<br /> Property Tax Levy $ 85,867,574 $ 89,868,589 $ 93,490,304 $ 3,621,715 4.03%
<br /> Exempt Debt $ 5,325,085 $ 4,943,313 $ 5,554,651 $ 611,338 12.37%
<br /> sub-total Tax Levy $ 91,192,659 $ 94,811,902 $ 99,044,955 $ 4,233,053 4 46%
<br /> State Aid $ 7,871,465 $ 8,603,524 $ 8,693,524 $ 90,000 1 05%
<br /> Local Receipts $ 10,246,954 $ 9,649,010 $ 10,102,644 $ 453,634 4 70%
<br /> Available Funds $ 1,728,160 $ 1,426,484 $ 2,493,000 $ 1,066,516 74 77%
<br /> Revenue Offsets $ (3,077,283) $ (3,145,438) $ (2,619,019) $ 526,419 -16.74%
<br /> Total General Fund $ 107,961,955 $ 111,345,482 $ 117,715,103 $ 6,369,621 5.720/0
<br /> Other Revenues
<br /> Revolving Funds $ 78,266 $ 612,869 $ 615,828 $ 2,959 0.48%
<br /> Grants $ - $ 122,732 $ 122,732 $ - 0.00%
<br /> Enterprise Funds(Direct) $ 13,393,865 $ 13,224,142 $ 14,360,624 $ 1,136,482 8.59%
<br /> Enterprise Funds(Indirect) $ 1,773,197 $ 1,789,913 $ 1,802,313 $ 12,400 0.69%
<br /> sub-total Other Revenues $ 15,245,328 $ 15,749,656 $ 16,901,497 $ 1,151,841 731%
<br /> Total Revenues $ 123,207,283 $ 127,095,138 $ 134,616,601 $ 7,521,462 5.92%
<br /> Expense Summary 1 FY 2005 FY 2006 FY 2007 FY 2006-2007 FY 2006-2007
<br /> Actual 2 Restated Recommended Change($) Change(%1
<br /> Education
<br /> Lexington Public Schools $ 56,804,506 $ 60,028,584 $ 66,316,918 $ 6,288,334 10.48%
<br /> Minuteman Reg. School $ 833,267 $ 830,667 $ 1,007,982 $ 177,315 21.35%
<br /> sub-total Education $ 57,637,773 $ 60,859,251 $ 67,324,900 $ 6,465,649 10.62%
<br /> Municipal $ 21,711,649 $ 22,929,906 $ 24,980,999 $ 2,051,093 8.95%
<br /> Shared Expenses
<br /> Benefits&Insurance $ 17,511,374 $ 19,128,260 $ 22,812,382 $ 3,684,122 19.26%
<br /> Debt(within-levy) $ 4,502,085 $ 3,490,750 $ 3,720,061 $ 229,311 6.57%
<br /> Reserve Fund $ - $ 150,000 $ 300,000 $ 150,000 100.00%
<br /> sub-total Shared Expenses $ 22,013,459 $ 22,769,010 $ 26,832,443 $ 4,063,433 17.85%
<br /> Revolving Funds $ 78,266 $ 612,869 $ 615,828 $ 2,959 0.48%
<br /> Capital &Reserves
<br /> Cash Capital $ 500,000 $ 1,153,000 $ 1,040,000 $ (113,000) -9.80%
<br /> Stabilization Fund $ 807,322 $ 603,647 $ 650,000 $ 46,353 7.68%
<br /> sub-total Capital&Reserves $ 1,307,322 $ 1,756,647 $ 1,690,000 $ (66,647) -3 79%
<br /> Enterprise Funds
<br /> Water $ 5,343,239 $ 5,377,982 $ 5,861,664 $ 483,682 8.99%
<br /> Wastewater(Sewer) $ 6,673,087 $ 6,259,338 $ 6,772,457 $ 513,119 8.20%
<br /> Recreation $ 1,377,539 $ 1,586,822 $ 1,726,504 $ 139,682 8.80%
<br /> sub-total Enterprise Funds $ 13,393,865 $ 13,224,142 $ 14,360,624 $ 1,136,483 8.59%
<br /> Exempt Debt
<br /> Municipal $ 786,575 $ 771,013 $ 1,219,388 $ 448,375 58.15%
<br /> School $ 4,538,510 $ 4,172,300 $ 4,335,263 $ 162,963 3.91%
<br /> sub-total Exempt Debt $ 5,325,085 $ 4,943,313 $ 5,554,651 $ 611,338 12.37%
<br /> Total Expenses $ 121,467,419 $ 127,095,138 $ 141,359,446 $ 14,264,308 11.22%
<br /> (Balance $ 1,739,864 $ - $ (6,742,845)1
<br /> Notes:
<br /> 'Figures for FY 2005&2006 have been restated into different budget groupings so that they mirror proposed divisions for FY 2007
<br /> 2 FY 2005 amounts are unaudited.Amounts shown represent initial reconciliations.
<br /> 2 By M.G.L.Ch.71,Sec.34,the budget must reflect the most recent request of the regional school for budget purposes.It is likely this amount will change.
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