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APPROPRIATION COMMITTEE REPORT—APRIL 2006
<br />Extract of Appendix C from
<br />DRAFT #08 3 Apr 2006
<br />C-1: FY2007 - FY2008 Projections (Maintaining Reserves at $5.57M as of 6/30/08)
<br />FY 2006FY 2007FY 2008
<br />Revenue Summary
<br />RestatedProjectedProjected
<br />Tax Levy
<br />1Property Tax Levy $ 85,867,574 $ 89,868,589$ 98,832,056
<br />2Allowable 2 1/2% inc.$ 2,146,689 $ 2,246,715$ 2,470,801
<br />3New Tax Levy Growth$ 1,854,326 $ 1,675,000$ 1,746,871
<br />4Voter Approved Override$ -$ 5,041,752$ -
<br />5Tax levy limit$ 89,868,589 $ 98,832,056$ 103,049,728
<br />6Exempt Debt$ 4,943,313 $ 5,554,651$ 4,187,638
<br />7sub-total Tax Levy$ 94,811,902 $ 104,386,707$ 107,237,366
<br />8State Aid $ 8,603,524 $ 8,875,774$ 8,875,774
<br />9Local Receipts $ 9,674,610 $ 10,187,644$ 10,076,914
<br />10Available Funds $ 1,382,484 $ 4,746,000$ 2,395,000
<br />11Revenue Offsets$ (3,145,438)$ (2,919,019) $ (2,908,673)
<br />Total General Fund$ 111,327,082$ 125,277,105 $ 125,676,381
<br />12
<br />Other Revenues
<br />13Revolving Funds$ 612,869$ 630,073$ 633,115
<br />14Grants$ 168,873$ 173,390$ 190,923
<br />$ 15,594,776
<br />15Enterprise Funds (Direct)$ 13,322,541 $ 14,476,523
<br />16Enterprise Funds (Indirect)$ 1,789,913 $ 1,827,313$ 1,947,068
<br />17sub-total Other Revenues$ 15,894,196$ 17,107,299$ 18,365,882
<br />Total Revenues$ 127,221,278$ 142,384,404 $ 144,042,262
<br />18
<br />Expense Summary FY 2006FY 2007FY 2008
<br />RestatedRecommendedProjected
<br />Education
<br />19Lex. Pub Schools Compensation$ 47,242,262 $ 51,061,471$ 52,709,237
<br />20Lex. Pub Schools Expenses$ 12,786,324 $ 14,379,307$ 15,313,962
<br />$ 68,023,199
<br />21sub-total Lex. Pub. Schools$ 60,028,586$ 65,440,778
<br />22Minuteman Reg. School 3$ 830,667$ 1,082,250$ 1,114,718
<br />$ 66,523,028$ 69,137,917
<br />23sub-total Education$ 60,859,253
<br />Municipal
<br />24Municipal Compensation$ 15,518,028 $ 16,692,925$ 17,360,642
<br />25Municipal Expenses$ 7,439,617 $ 8,377,161$ 8,796,019
<br />$ 25,070,086$ 26,156,661
<br />26sub-total Municipal $ 22,957,645
<br />Shared Expenses
<br />27Benefits & Insurance$ 19,128,260 $ 22,374,981$ 25,801,598
<br />28Debt (within-levy)$ 3,490,750 $ 3,720,061$ 3,941,333
<br />29Reserve Fund$ 150,000$ 400,000$ 400,000
<br />$ 22,769,010$ 26,495,042$ 30,142,931
<br />30sub-total Shared Expenses
<br />31Revolving Funds$ 612,869$ 630,073$ 630,073
<br />Capital & Reserves
<br />32Cash Capital (inc of roads+150K in OR)$ 1,153,000 $ 985,000$ 1,485,000
<br />33Other Stabilization Fund deposits$ 603,647$ 2,650,000
<br />$ 1,756,647$ 3,635,000$ 1,485,000
<br />34sub-total Capital & Reserves
<br />35Enterprise Funds$ 13,322,541$ 14,476,524$ 15,594,776
<br />Exempt Debt
<br />36Municipal$ 771,013$ 1,219,388$ 1,186,263
<br />37School$ 4,172,300 $ 4,335,263$ 3,001,375
<br />38sub-total Exempt Debt$ 4,943,313$ 5,554,651$ 4,187,638
<br />39unidentified expense reductions$ (500,000)
<br />Total Expenses$ 127,221,278 $ 142,384,404$ 146,834,996
<br />40
<br />41Balance (Gap)$ -$ 0$ (2,792,733)
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