HomeMy WebLinkAbout2015-11-12-Summit2-releasedBoard of Selectmen, School Committee, Appropriation Committee,
Capital Expenditures Committee
November 12, 2015
7:00 PM
Public Services Building Cafeteria, 201 Bedford Street
AGENDA
1.F Y17 Revenue P ro jectio n
2.Dis cus s io n: Financ ing Analys is for Upc o ming Cap ital Pro jec ts
3.Dis cus s io n: Possible Dates fo r Deb t Exclus io n Vote
4.S et Date - Summit 3
5.Exec utive Session-Exemptio n 6-Dis cus s io n Regard ing Purc has e of 20
P elham Road
Hearing Assistance Devices Available on Request
All agenda time and the order of items are approximate and subject to change.
AGENDA ITEM SUM M ARY
LEXINGTON BOARD OF SELECTMEN MEETING
AGENDA ITEM TITLE:
FY17 Revenue Projection
PRESENTER:
Carl F. Valente, Town Manager; Rob
Ad d els o n, As s is tant Town Manager for
F inance
ITEM
NUMBER:
1.
SUMMARY:
Attac hed is the F Y17 Revenue P ro jectio n Pac ket that Rob Ad d els o n will pres ent at Summit 2.
SUGGESTED MOTION:
FOLLOW-UP:
DATE AND APPROXIMATE TIME ON AGENDA:
11/12/2015
ATTACHMENTS:
Des crip tion Typ e
FY17 Revenue Projections Pres entation
Town of Lexington
FY 2017 Revenue Projections
Town Manager's Office
Finance Department
Issued November 12, 2015
Town of Lexington
Revenue Projections
Revenue Executive Summary
General Fund Revenue Summary FY14 Actual FY15 Actual FY16 Estimated FY17 Projected $%
Property Tax Levy (Table 1)141,842,484$ 148,212,539$ 154,636,033$ 161,001,934$ 6,365,901$ 4.1%
State Aid (Table 2)10,214,580$ 11,193,462$ 11,568,637$ 11,804,630$ 235,993$ 2.0%
Local Receipts (Table 3)14,909,146$ 13,756,778$ 11,880,064$ 12,087,650$ 207,586$ 1.7%
Available Funds (Table 4)12,473,510$ 11,012,293$ 15,331,231$ 12,832,579$ (2,498,652)$ -16.3%
-$ 919,000$ 620,567$ -$ (620,567)$ -100.0%
Revenue Offsets (Table 5)(1,644,621)$ (2,492,221)$ (2,905,154)$ (1,943,061)$ 962,092$ -33.1%
Enterprise Receipts (Table 6)1,497,405$ 1,487,905$ 1,617,576$ 1,666,103$ 48,527$ 3.0%
179,292,504$ 184,089,756$ 192,748,955$ 197,449,836$ 4,700,881$ 2.4%
16,129,376$ 14,405,660$ 16,348,222$ 10,971,827$ (5,376,395)$ -32.9%
Net General Fund Revenues 163,163,128$ 169,684,096$ 176,400,733$ 186,478,009$ 10,077,276$ 5.7%
Detailed Description:
Other Available Funds - Use of Capital
Project/Debt Service Reserve/Building
Renewal Stabilization Fund (Table 4a)
FY 16-17 Change
Less - Revenues Set-Aside for
Designated Purposes
Total General Fund Operating Revenues
This revenue projection is being submitted to the Board of Selectmen as required under Section 13 of Chapter 753 of the Acts of 1968, as
amended, An Act Establishing the Selectmen-Town Manager Form of Government in the Town of Lexington. The projection is based on the
most current data available. As new information becomes available, the projections may be revised. The summary below presents Total
General Fund Revenues and Net General Fund Revenues. Total General Fund Revenues include annually recurring and non-recurring sources
of revenue. Net General Fund Revenues are Total General Fund Revenues less revenues recommended to be set-aside to fund designated
expenses. In FY2017, Total General Fund Operating Revenues are projected to increase by approximately $4.7 million, or 2.4%. Net General
Fund Revenues, those available to support school and municipal operating budgets, are projected to increase by $10.1 million,or 5.7%.
Local Receipts:FY2017 projections for each category of receipt are based on the history of actual collections and projections of 3 and 5 yea r
historical averages, unless otherwise specified in the supplemental tables of this document. FY2016 local receipts are estimated to increase by
approximately $208,000 or 1.7% over FY16 estimates. A major contributor to this growth is an increase in the estimate for building permit fees
of approximately $98,000.
Property Tax Levy: The FY2017 property tax levy is projected to increase approximately $6.4 million, or 4.1%. The projected levy is a function of the FY2016 levy limit increased by 2.5% per Proposition 2 1/2, plus an increment for new growth. FY2017 new grow th will be a function of construction activity for the period July 1, 2015 to June 30, 2016. FY2017 new growth is estimated at $2,500,000 based on a review of historical data on new growth.
State Aid: FY2017 state aid is projected to increase 2.0% from its FY2016 level. Final FY2017 state aid numbers are likely to be known in
June 2016 when the Legislature adopts, and the Governor signs, the FY2017 State budget.
Available Funds:Available Funds are projected to decrease by approximately $2.5 million or 16.3%. This decrease is driven predominantly by
two factors. The first is a decrease in free cash. Approximately $12.8 million of free cash was used to support the FY16 operating budget,cash
capital and contributions to the Capital Stabilization Fund. Free Cash was certified by the Department of Revenue as of 7/1/15 at $11,487,187
of which $479,608 was appropriated at the November 2015 special town meeting leaving a residual balance of free cash to support the FY17
budget of $10,995,579, thus accounting for the decrease in free cash from FY16 to FY17. The second factor is a decrease of approximately
$659,000 in the proposed use of the Town's Health Claims Trust Fund to underwrite the Town's share of FY17 GIC premiums. In FY17, it is
proposed that $1.2 million be used for this purpose thus freeing up $1.2 million in the tax levy to continue progress in funding the Town's OPEB
liability.
Other components of Available Funds include the proposed use of parking meter receipts, cemetery funds, and the Transportation Demand
Management Stabilization Fund. Of note is that no appropriation is proposed from the Capital Stabilization Fund to fund the ongoing mitigation
of the debt service impacts of the financing of the LHS modular classrooms construction. In FY16, $620,567 was appropriated for this purpose,
but preliminary FY17 debt service projections indicate that no funds will be needed to mitigate FY17 debt service. A final determination of the
need for mitigation will not be made until the Town Manager's recommended FY17 capital budget is presented to the Board of Selectmen in
January 2016.
Revenue Offsets: Revenue Offsets are projected to decrease by approximately $962,000 or 33.1%. Revenue Offsets represent the set-aside
of a portion of projected revenues needed for particular purposes including:
(1) the component of state aid (Public Library aid reimbursement) that is distributed as Cherry Sheet aid, but, in fact, is a categorical grant that
is not available to support general fund operations;
(2) cherry sheet assessments -estimated charges to be levied by the Commonwealth to cover the costs of state and regional servi ces provided
to the Town. Cherry Sheet Assessments assume a 3.5% increase in FY 2015;
(3) the Assessor's Overlay account which covers the cost of abatements and exemptions granted to property taxpayers ; and,
(4) potential snow and ice deficits.
The FY17 decrease in total revenue offsets is driven primarily by 2 factors. The first is a decrease in the FY15 set -aside for the FY16 snow and
ice deficit of $643,650 to $300,000 in FY17 to cover the possibility of incurring a FY16 snow and ice deficit. The second is that in FY16 the DOR
is requiring the Town to finance a $647,000 Health Withholding Account deficit. This offset is $0.00 in FY17.
Revenue Executive Summary
2 of 27
11/10/2015
Town of Lexington
Revenue Projections
Revenue Executive Summary
This revenue projection is being submitted to the Board of Selectmen as required under Section 13 of Chapter 753 of the Acts of 1968, as
Tax Levy Free Cash Other Total Notes
1 Set-Aside for Unanticipated
Current Fiscal Year Needs
200,000$ 200,000$
2 Other Post-Employment
Benefits (OPEB)
1,200,000$ 312,318$ 1,512,318$
3 Unallocated 983,261$ 983,261$
4 Cash Capital 2,500,000$ 2,500,000$
5 Capital Stabilization Fund 3,100,000$ 3,100,000$
6 Appropriate From Capital
Stabilization Fund
-$
7 Street Improvement Program 2,235,746$ 2,235,746$
8 Municipal Building Envelope
and Systems
187,329$ 187,329$
9 Senior Tax Work-Off Program 20,000$ 20,000$
10 Set-Aside for Tax Levy Support
of Community Center Program
(Transfer to Article 5)
233,172$ 233,172$
11 Subtotal 3,876,248$ 7,095,579$ -$ 10,971,827$
12 Operating Budget -$ 3,900,000$ 3,900,000$
13 Grand Total 3,876,248$ 10,995,579$ -$ 14,871,827$
Consistent with long-term street
maintenance plan.
$3,900,000 of Free Cash to
support the FY17 operating
budget.
Initially funded in 2006 override;
increases by 2.5% per year.
To mitigate debt service impact
of LHS Modular Buildings
construction financing.
Preliminary debt service
projections indicate no need to
draw funds in FY17.
To meet future capital/debt
service needs.
Set-aside for as yet identified
FY17 purposes.
$1.86 million in tax levy made
available from the proposed use
of this amount from the Health
Insurance Claims Trust Fund to
fund FY16 Health Insurance.
$1.196 of levy funds applied her
with the remaining amount going
to Unallocated
Reserved for appropriation at the
2016 annual town meeting to
fund supplemental appropriations
to the FY16 budget.
Financing Sources
Revenues Set-Aside for Designated Expenses
Enterprise Receipts: Enterprise Receipts are preliminarily projected to increase approximately 3%. This category of revenue represents transfers from the water, sewer and recreation enterprise funds to the general fund to cover general fund expenditures that s upport the operations of the water, sewer and recreation departments. These figures will be revised upon completion of an update of las t year's indirect cost analysis that is currently in progress.
Revenues Set Aside for Designated Purposes:This represents components of Total General Fund Revenues that are set aside for
designated purposes. The proposed purposes are shown below.
Revenue Executive Summary
3 of 27
11/10/2015
Town of Lexington
Revenue Projections
Revenue Summary
FY14
Actual
FY15
Actual
FY16
Estimated
FY17
Projected $%
Table 1: Property Tax Levy
Tax Levy 135,440,316$ 141,843,659$ 148,286,733$ 154,636,034$ 6,349,301$ 4.3%
Prop. 2.5%3,386,008$ 3,546,091$ 3,707,168$ 3,865,901$ 158,733$ 4.3%
New Growth 3,017,335$ 2,896,983$ 2,642,132$ 2,500,000$ (142,132)$ -5.4%
Override/Excess Levy Capacity (1,175)$ (74,194)$ -$
Subtotal 141,842,484$ 148,212,539$ 154,636,033$ 161,001,934$ 6,365,901$ 4.1%
Table 2: State Aid
Chapter 70 8,657,571$ 9,584,428$ 9,968,536$ 10,167,907$ 199,371$ 2.0%
Charter School Reimbursement 12,628$ 1,786$ 893$ 900$ 7$ 0.8%
Unrestricted General Government Aid 1,326,917$ 1,363,715$ 1,412,809$ 1,441,065$ 28,256$ 2.0%
Veterans' Benefits & Exemptions 147,543$ 169,557$ 139,502$ 147,861$ 8,359$ 6.0%
Offsets (School Lunch & Library)69,921$ 73,976$ 46,897$ 46,897$ -$ 0.0%
Subtotal 10,214,580$ 11,193,462$ 11,568,637$ 11,804,630$ 235,993$ 2.0%
Table 3: Local Receipts
Motor Vehicle Excise Tax 4,695,332$ 4,941,045$ 4,600,000$ 4,600,000$ -$ 0.0%
Other Excise 1,608,573$ 1,698,096$ 1,460,000$ 1,496,300$ 36,300$ 2.5%
Penalties & Interest 670,076$ 522,301$ 347,000$ 346,000$ (1,000)$ -0.3%
PILOT's 535,492$ 564,588$ 589,000$ 647,000$ 58,000$ 9.8%
Rentals 384,180$ 287,082$ 264,000$ 277,770$ 13,770$ 5.2%
Departmental-Schools 807,116$ 601,557$ 502,000$ 504,580$ 2,580$ 0.5%
Departmental-Municipal 1,604,149$ 1,632,981$ 1,867,000$ 1,866,000$ (1,000)$ -0.1%
Licenses & Permits 1,689,164$ 1,836,144$ 1,597,464$ 1,702,000$ 104,536$ 6.5%
Special Assessments 103,086$ 43,110$ 20,600$ 13,000$ (7,600)$ -36.9%
Fines & Forfeits 376,800$ 284,355$ 345,000$ 321,000$ (24,000)$ -7.0%
Investment Income 278,458$ 304,213$ 288,000$ 314,000$ 26,000$ 9.0%
Miscellaneous Non-Recurring 2,156,721$ 1,041,307$ -$ -$ -$ ---
Local Receipts not shown on Recap -$ -$ -$ -$ ---
Subtotal 14,909,146$ 13,756,778$ 11,880,064$ 12,087,650$ 207,586$ 1.7%
Table 4: Available Funds
Parking 335,000$ 335,000$ 395,000$ 395,000$ -$ 0.0%
Cemetery 105,000$ 105,000$ 105,000$ 105,000$ -$ 0.0%
Free Cash 11,650,931$ 9,380,309$ 12,764,202$ 10,995,579$ (1,768,623)$ -13.9%
Health Claims Trust Fund 1,000,000$ 1,858,947$ 1,200,000$ (658,947)$ -35.4%
Insurance Proceeds -$ -$ -$ ---
Transp.Demand Mgmt. Stab. Fund 90,000$ 88,000$ 137,000$ 137,000$ -$ 0.0%
250,000$ 49,096$ -$ -$ -$ ---
42,579$ 54,888$ 71,082$ (71,082)$ -100.0%
Subtotal 12,473,510$ 11,012,293$ 15,331,231$ 12,832,579$ (2,498,652)$ -16.3%
Table 4a: Other Available Funds
-$ 919,000$ 620,567$ -$ (620,567)$ -100.0%
Subtotal -$ 919,000$ 620,567$ -$ (620,567)$ -100.0%
Table 5: Revenue Offsets
Cherry Sheet Assessments (795,309)$ (811,754)$ (817,550)$ (846,164)$ (28,614)$ 3.5%
Cherry Sheet Offsets -$ -$ ---
School Lunch (30,207)$ (26,514)$ -$ -$ -$ ---
Public Libraries (39,714)$ (47,462)$ (46,897)$ (46,897)$ -$ 0.0%
Overlay (abatements)(779,391)$ (953,485)$ (750,000)$ (750,000)$ -$ 0.0%
Health Withholding Account Deficit -$ -$ (647,057)$ -$ 647,057$ -100.0%
Snow Deficit -$ (653,006)$ (643,650)$ (300,000)$ 343,650$ -53.4%
Subtotal (1,644,621)$ (2,492,221)$ (2,905,154)$ (1,943,061)$ 962,092$ -33.1%
Table 6: Enterprise Receipts
Water 818,689$ 789,275$ 898,614$ 925,572$ 26,958$ 3.0%
Wastewater (Sewer)450,116$ 465,030$ 478,354$ 492,705$ 14,351$ 3.0%
Recreation 228,600$ 233,600$ 240,608$ 247,826$ 7,218$ 3.0%
Subtotal 1,497,405$ 1,487,905$ 1,617,576$ 1,666,103$ 48,527$ 3.0%
Gross General Fund Revenues 179,292,504$ 184,089,756$ 192,748,955$ 197,449,836$ 4,700,881$ 2.4%
16,129,376$ 14,405,660$ 16,348,222$ 10,971,827$ (5,376,395)$ -32.9%
163,163,128$ 169,684,096$ 176,400,733$ 186,478,009$ 10,077,276$ 5.7%
FY16-17 Change
Revenues Set Aside for Designated
Expenses
Net General Fund Revenues Available for
Appropriation
Balances from Prior Yr. Capital Articles
Avalon Bay School Enrollment Mitigation Fund
Capital Projects Stabilization Fund
Revenue Summary
4 of 27
11/10/2015
Town of Lexington
Revenue Projections
Table 1-A: Tax Levy History
Fiscal Year Previous Year
Levy Limit
Allowable 2 1/2%
Increase
Allowable New
Construction
Voter Approved
Override Total Tax Levy Limit Exempt Debt
Service
Allowable Amount
which may be
raised from
Property Tax
Unused Tax
Capacity Actual Tax Levy
1996 48,752,066$ 1,218,802$ 325,180$ 1,500,000$ 51,796,048$ 1,412,532$ 53,208,580$ 50,219$ 53,158,361$
1997 51,796,048$ 1,294,901$ 478,191$ -$ 53,569,140$ 1,174,088$ 54,743,228$ 29,327$ 54,713,901$
1998 53,569,140$ 1,339,229$ 954,493$ -$ 55,862,862$ 1,100,500$ 56,963,362$ 22,726$ 56,940,636$
1999 55,862,862$ 1,396,572$ 644,859$ -$ 57,904,293$ 1,033,500$ 58,937,793$ 8,416$ 58,929,377$
2000 57,904,293$ 1,447,607$ 1,970,649$ -$ 61,322,549$ 120,000$ 61,442,549$ 298,410$ 61,144,139$
2001 61,322,549$ 1,533,064$ 1,535,451$ 3,440,829$ 67,831,893$ 950,625$ 68,782,518$ 47,630$ 68,734,888$
2002 67,831,893$ 1,695,797$ 1,573,592$ -$ 71,101,282$ 1,708,200$ 72,809,482$ 37,717$ 72,771,765$
2003 71,101,282$ 1,777,532$ 1,350,048$ -$ 74,228,862$ 1,567,988$ 75,796,850$ 931$ 75,795,919$
2004 74,230,931$ 1,855,773$ 1,915,573$ -$ 78,002,277$ 4,189,338$ 82,191,615$ 2,120$ 82,189,495$
2005 78,000,157$ 1,950,957$ 1,692,120$ 4,224,340$ 85,867,574$ 5,325,045$ 91,192,619$ 36,195$ 91,156,424$
2006 85,867,574$ 2,146,689$ 1,854,326$ -$ 89,868,589$ 4,943,313$ 94,811,902$ 51,242$ 94,760,661$
2007 89,868,589$ 2,246,715$ 2,036,789$ 1,858,435$ 96,010,528$ 5,127,256$ 101,137,784$ 62,994$ 101,074,790$
2008 96,012,202$ 2,400,305$ 2,485,650$ 3,981,589$ 104,879,746$ 5,372,874$ 110,252,620$ 45,961$ 110,206,659$
2009 104,879,746$ 2,621,994$ 3,276,649$ -$ 110,778,389$ 5,632,642$ 116,411,031$ 72,867$ 116,338,164$
2010 110,778,389$ 2,769,460$ 2,431,902$ -$ 115,979,750$ 5,746,384$ 121,726,134$ 58,674$ 121,667,460$
2011 115,934,719$ 2,898,368$ 3,426,550$ -$ 122,259,637$ 5,753,550$ 128,013,187$ 57,464$ 127,955,723$
2012 122,259,637$ 3,056,491$ 3,346,536$ -$ 128,662,664$ 5,379,620$ 134,042,285$ 46,950$ 133,995,335$
2013 128,662,664$ 3,217,107$ 3,538,945$ -$ 135,440,316$ 6,199,081$ 141,639,396$ 53,534$ 141,585,863$
2014 135,440,316$ 3,386,008$ 3,017,335$ -$ 141,843,659$ 6,927,654$ 148,771,313$ 1,175$ 148,770,138$
2015 141,843,659$ 3,546,091$ 2,896,983$ -$ 148,286,733$ 7,423,332$ 155,710,065$ 74,194$ 155,635,871$
2016 148,286,733$ 3,707,168$ 2,642,132$ 154,636,034$ 7,714,132$ 162,350,165$ NA NA
2017 154,636,034$ 3,865,901$ 2,500,000$ 161,001,934$ 7,949,726$ 168,951,661$ NA NA
Note: FY16 new growth is a preliminary estimate subject to final review and certification by the Department of Revenue.
FY17 Exempt Debt Service reflects debt service on authorized and issued debt only and includes no projection of debt service on the school master plan.
Table 1-A. Tax Levy History 5 of 27 11/10/2015
Town of Lexington
Revenue Projections
Table 1-B: New Tax Levy Growth
Fiscal Year Residential
Commercial /
Industrial Personal Total Three Year Average FY 2014-2016
1998 $420,000 $116,000 $418,000 $954,000 C/I/P $1,245,166
1999 $216,000 $325,000 $104,000 $645,000 Residential $1,616,984
2000 $354,000 $898,000 $719,000 $1,971,000 Total $2,862,150
2001 $622,000 $293,000 $621,000 $1,536,000
2002 $710,000 $49,000 $814,000 $1,573,000 Five Year Average FY 2012-2016
2003 $890,000 $47,000 $413,000 $1,350,000 C/I/P $1,599,748
2004 $836,241 $125,767 $953,565 $1,915,573 Residential $1,494,639
2005 $866,131 $320,315 $505,674 $1,692,120 Total $3,094,386
2006 $1,037,304 $127,221 $689,801 $1,854,326
2007 $1,093,643 $0 $943,146 $2,036,789 Ten Year Average FY 2007-2016
2008 $1,156,124 $474,999 $854,527 $2,485,650 C/I/P $1,560,459
2009 $1,526,313 $533,896 $1,216,440 $3,276,649 Residential $1,356,796
2010 $1,206,197 $206,414 $1,058,669 $2,471,280
2011 $1,112,487 $1,212,054 $1,105,704 $3,430,245 Total $2,917,255
2012 $1,222,142 $960,174 $1,164,220 $3,346,536
2013 $1,400,099 $1,297,354 $841,492 $3,538,945
2014 $1,451,904 $635,052 $930,379 $3,017,335
2015 $1,686,061 $408,312 $802,610 $2,896,983
2016 1 $1,712,987 $215,442 $743,704 $2,672,133
Totals $16,120,585 $7,621,246 $13,352,617 $39,991,431
1 2016 figures are preliminary, requiring review and approval by the Department of Revenue.
Summary
FY2017 new growth is
estimated at $2,500,000.
$500,000
$1,000,000
$1,500,000
$2,000,000
$2,500,000
$3,000,000
$3,500,000
$4,000,000
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Fiscal Year
New Growth to the Levy Limit: FY2006 to FY2015
Personal
Commercial / Industrial
Residential
Table 1-B. New Growth History 6 of 27 11/10/2015
Town of Lexington
Revenue Projections
Table 2-A: State Aid (Cherry Sheet)
FY2011 FY2012 FY2013 FY2014 FY2015 FY2016 FY2017
FY2011 FY2012 FY2013 FY2014 FY2015
FY2016
Estimated FY2017
State Aid-Cherry Sheet:Actual Actual Actual Actual Actual (Final FY16 CS)Projected
Education:
Chapter 70 7,013,863$ 7,051,517$ 7,876,799$ 8,657,571$ 9,584,428$ 9,968,536$ 10,167,907$
17,418$ 23,222$ 18,769$ 12,628$ 1,786$ 893$ 900$
Offset Items:
School Lunch 17,758$ 22,523$ 24,262$ 30,207$ 26,514$ -$ -$
General Government:
Unrestricted General Government Aid 1,296,276$ 1,202,550$ 1,296,276$ 1,326,917$ 1,363,715$ 1,412,809$ 1,441,065$
Lottery, Beano, Charity Games
Police Career Incentive 22,509$
Veterans' Benefits 8,949$ 41,729$ 68,476$ 70,490$ 92,504$ 72,437$ 70,468$
Exemptions: Vets, Blind, Surviving Spouses 92,127$ 22,088$ 88,063$ 77,053$ 77,053$ 67,065$ 77,394$
Offset Items:
Public Libraries 37,791$ 37,988$ 37,489$ 39,714$ 47,462$ 46,897$ 46,897$
Sub-Total, General Government
Gross Cherry Sheet Totals 8,506,691$ 8,401,617$ 9,410,134$ 10,214,580$ 11,193,462$ 11,568,637$ 11,804,630$
Less Offset Items:(55,549)$ (60,511)$ (61,751)$ (69,921)$ (73,976)$ (46,897)$ (46,897)$
Net Cherry Sheet Totals 8,451,142$ 8,341,106$ 9,348,383$ 10,144,659$ 11,119,486$ 11,521,740$ 11,757,733$
Charter Tuition Reimbursement
Sub-Total, All Education Items
8,451,142 8,341,106
9,348,383
10,144,659
11,119,486
11,521,740 11,757,733
$4,000,000
$6,000,000
$8,000,000
$10,000,000
$12,000,000
FY2011 FY2012 FY2013 FY2014 FY2015 FY2016 FY2017
Net State Aid FY11 -FY17 projectedSummary
FY2017 state aid is projected to increase by 2.0%.
Final FY2017 state aid numbers will probably not be
known until June 2016 when the Legislature adopts,
and the Governor signs, the FY2017 State budget.
Our first glimpse of the direction of FY2017 state aid
will be reflected in the Governor's proposed FY2017
budget which will be submitted to the Legislature in
January 2016.
Table 2-A. State Aid History 7 of 27 11/10/2015
Town of Lexington
Revenue Projections
Table 3-A: Local Receipts Summary
10010070-41801
FY2011 FY2012 FY2013 FY2014 FY2015 FY2016 FY2017
FY11
Actual
FY12
Actual
FY13
Actual
FY14
Actual
FY15
Actual
FY16
Estimated
FY17
Projected
Motor Vehicle Excise Tax 4,044,449$ 3,924,928$ 4,300,549$ 4,695,332$ 4,941,045$ 4,600,000$ 4,600,000$
Other Excise 1,192,678$ 1,525,700$ 1,415,189$ 1,608,573$ 1,698,096$ 1,460,000$ 1,496,300$
Penalties & Interest 568,595$ 461,887$ 468,003$ 670,076$ 522,301$ 347,000$ 346,000$
PILOT's 500,045$ 488,569$ 539,258$ 535,492$ 564,588$ 589,000$ 647,000$
Rentals 314,443$ 336,842$ 336,836$ 384,180$ 287,082$ 264,150$ 277,770$
Departmental-Schools 549,295$ 576,164$ 272,741$ 807,116$ 601,557$ 502,000$ 504,580$
Departmental-Municipal 1,469,937$ 1,522,991$ 1,516,166$ 1,604,149$ 1,632,981$ 1,867,000$ 1,866,000$
Licenses & Permits 1,789,613$ 1,513,734$ 1,698,028$ 1,689,164$ 1,836,144$ 1,597,464$ 1,702,000$
Special Assessments 32,689$ 24,885$ 24,312$ 103,086$ 43,110$ 20,600$ 13,000$
Fines & Forfeits 329,394$ 344,126$ 335,984$ 376,800$ 284,355$ 345,000$ 321,000$
Investment Income 309,099$ 247,761$ 272,998$ 278,458$ 304,213$ 288,000$ 314,000$
Miscellaneous Non-Recurring 890,801$ 1,372,744$ 912,784$ 2,156,721$ 1,041,307$ -$ -$
Total 11,991,038$ 12,340,331$ 12,092,846$ 14,909,146$ 13,756,778$ 11,880,214$ 12,087,650$
$11,991,038
$12,340,331 $12,092,846
$14,909,146
$13,756,778
$11,880,214
$12,087,650
$6,000,000
$8,000,000
$10,000,000
$12,000,000
$14,000,000
$16,000,000
FY2011 FY2012 FY2013 FY2014 FY2015 FY2016 FY2017
Local Receipts FY11 -FY17 ProjectedSummary
Local Receipts make up 6.1% of
the projected FY2017 total
revenues for the Town of
Lexington. Local receipts are one
indicator of the status of
economic growth in the
community. Certain local receipts
(e.g. motor vehicle excise,
licenses and permits, investment
income, hotel/motel) are closely
related to the overall growth in
the State's economy.
Table 3-A. Local Reciepts Sum.8 of 27 11/10/2015
Town of Lexington
Revenue Projections
Table 3-B (1): Local Receipt Detail - Motor Vehicle Excise Tax
FY11
Actual
FY12
Actual
FY13
Actual
FY14
Actual
FY15
Actual
FY16
Estimated
FY17
Projected
TOTAL 4,044,449$ 3,924,928$ 4,300,549$ 4,695,332$ 4,941,045$ 4,600,000$ 4,600,000$
10010050 41570 MOTOR VEHICLE EXCISE TAX-PR 1,414$ 1,354$ -$ -$ 498$
10010050 41595 95 MOTOR VEHICLE EXCISE TAX 21$ 16$ -$ -$ 125$
10010050 41596 96 MOTOR VEHICLE EXCISE TAX -$ -$ 26$ -$ -$
10010050 41597 97 MOTOR VEHICLE EXCISE TAX -$ -$ 144$ 33$ -$
10010050 41598 98 MOTOR VEHICLE EXCISE TAX -$ -$ 54$ -$ -$
10010050 41599 99 MOTOR VEHICLE EXCISE TAX 41$ 244$ 19$ -$ -$
10010050 41500 00 MOTOR VEHICLE EXCISE TAX 247$ 370$ 29$ -$ -$
10010050 41501 01 MOTOR VEHICLE EXCISE TAX 100$ 25$ -$ -$ -$
10010050 41502 02 MOTOR VEHICLE EXCISE TAX 188$ -$ 22$ 71$ 28$
10010050 41503 03 MOTOR VEHICLE EXCISE TAX 50$ -$ 30$ -$ 99$
10010050 41504 04 MOTOR VEHICLE EXCISE TAX 845$ -$ 31$ 106$ 215$
10010050 41505 05 MOTOR VEHICLE EXCISE TAX 908$ 100$ 181$ 89$ 60$
10010050 41506 06 MOTOR VEHICLE EXCISE TAX 649$ 204$ 359$ 602$ 27$
10010050 41507 07 MOTOR VEHICLE EXCISE TAX 2,025$ 1,218$ 516$ 1,042$ 991$
2,607$ 1,644$ 654$ 718$ 120$
26,064$ 5,053$ 1,233$ 652$ 474$
576,133$ 11,978$ (1,215)$ 1,423$ 393$
3,433,157$ 478,146$ 14,750$ 6,023$ 1,077$
NA 3,424,575$ 669,300$ 4,427$ 3,406$
NA NA 3,614,417$ 731,036$ 9,603$
NA NA NA 3,949,111$ 694,693$
NA NA NA NA 4,229,233$ 10010050 41513 15 MOTOR VECHICLE EXCISE TAX
10010050 41513 14 MOTOR VECHICLE EXCISE TAX
10010050 41513 13 MOTOR VECHICLE EXCISE TAX
Local Receipt Category
10010050 41509 09 MOTOR VEHICLE EXCISE TAX
10010050 41511 12 MOTOR VECHICLE EXCISE TAX
10010050 41511 11 MOTOR VECHICLE EXCISE TAX
10010050 41510 10 MOTOR VEHICLE EXCISE TAX
10010050 41508 08 MOTOR VEHICLE EXCISE TAX
Table 3-B-a. MV Receipts 9 of 27 11/10/2015
Town of Lexington
Revenue Projections
Table 3-B(2): Motor Vehicle Excise Billing & History
Amount Committed by Calendar Year
2010 2011 2012 2013 2014 2015
commit # of Bills
Total
Commitment Avg./Bill # of Bills
Total
Commitment Avg./Bill # of Bills
Total
Commitment Avg./Bill # of Bills
Total
Commitment Avg./Bill # of Bills
Total
Commitment Avg./Bill # of Bills Total Commitment Avg./Bill
1 23,295 2,812,245$ 120.72$ 23,574 2,943,325$ 124.85$ 23,710 3,073,254$ 130$ 23,797 3,264,869$ 137$ 24,036 3,521,953$ 147$ 24,005 3,662,898$ 153$
10 12 724$ 60.30$ 2 56$ 27.76$ 10 2,721$ 272$
11 11 198$ 17.98$ 1 16$ 16.25$
12 2 30$ 15.00$
13
2 1,131 346,419$ 306.29$ 1,370 483,882$ 353.20$ 1,240 461,889$ 372$ 1,205 490,233$ 407$ 1,178 504,869$ 429$ 1,296 588,313$ 454$
25
26
28
3 785 226,721$ 288.82$ 726 213,929$ 294.67$ 812 271,486$ 334$ 1,076 327,748$ 305$ 809 275,166$ 340$ 936 269,284$ 288$
99 60 7,485$ 124.75$ 58 7,434$ 128$ 54 5,979$ 111$ 53 5,625$ 106$
64 6,653$ 103.95$
65 5,556$ 85.48$
30
31
32
4 1,156 245,496$ 212.37$ 945 237,699$ 251.53$ 882 210,947$ 239$ 654 156,553$ 239$ 912 224,922$ 247$ 795 211,832$ 266$
5 767 114,872$ 149.77$ 816 127,371$ 156.09$ 743 118,902$ 160$ 873 140,301$ 161$ 263 159,673$ 607$ 988 191,564$ 194$
6 754 71,445$ 94.75$ 791 87,457$ 110.57$ 688 67,177$ 98$ 737 73,667$ 100$ 664 68,022$ 102$
7 557 22,744$ 40.83$ 582 23,438$ 40.27$ 613 30,866$ 50$ 605 25,124$ 42$ 622 29,155$ 47$
8 5 495$ 99.00$ 25 4,344$ 173.78$ 5 147$ 29$
9 109 6,767$ 62.08$ 7 772$ 110.30$ 2 199$ 99.53$
Totals 28,711 ######134.45$ 28,901 #######142.89$ 28,705 ######147.63$ 29,005 4,485,928$ 154.66$ 27,252 4,692,561$ 172.19$ 29,359 5,026,692 171.21$
Actual Collections received in each FY
2010 2011 2012 2013 2014 2015
Pre-2000 3,419$ 1,476$ 1,614$ 243$ 33$ 623$
FY 2000 -$ 247$ 370$ 29$
FY 2001 59$ 100$ 25$
FY 2002 201$ 188$ -$ 22$ 71$ 28$
FY 2003 78$ 50$ -$ 30$ 99$
FY 2004 362$ 845$ -$ 31$ 106$ 215$
FY 2005 686$ 908$ 100$ 181$ 89$ 60$
FY 2006 405$ 649$ 204$ 359$ 602$ 27$
FY 2007 2,857$ 2,025$ 1,218$ 516$ 1,042$ 991$
FY 2008 11,143$ 2,607$ 1,644$ 654$ 718$ 120$
FY 2009 482,932$ 26,064$ 5,053$ 1,233$ 652$ 474$
FY 2010 3,162,487$ 576,133$ 11,978$ (1,215)$ 1,423$ 393$
FY 2011 3,433,157$ 478,146$ 14,750$ 6,023$ 1,077$
FY 2012 3,424,575$ 669,300$ 4,427$ 3,406$
FY 2013 3,614,417$ 731,036$ 9,603$
FY 2014 3,949,111$ 694,693$
FY 2015 4,229,233$
Totals ###################4,300,549$ 4,695,333$ 4,941,042$
Actual vs. Billed
2010 2011 2012 2013 2014 2015
Billed 3,860,333$ Billed 4,129,804$ Billed 4,237,588$ Billed 4,485,928$ Billed 4,692,561$ Billed 5,026,692$
Actual 3,664,628$ Actual 4,044,449$ Actual 3,924,928$ Actual 4,300,549$ Actual 4,695,333$ Actual 4,941,042$ 97.9%94.9%100.1%98.3%95.9%92.6%
Table 3-B-b. MV Excise History 10 of 27 11/10/2015 / 1:17 PM
Town of Lexington
Revenue Projections
Table 3-C: Local Receipt Detail - Other Excise
FY11
Actual
FY12
Actual
FY13
Actual
FY14
Actual
FY15
Actual
FY16
Estimated
FY17
Projected
10010070-41801 1,192,678$ 1,525,700$ 1,415,189$ 1,608,573$ 1,698,096$ 1,460,000$ 1,496,300$
10010080 41901 OTHER EXCISE-HOTEL/MOTEL 590,720$ 718,706$ 750,723$ 762,630$ 880,026$ 780,000$ 803,400$
10010080 41902 OTHER EXCISE-JET FUEL 263,510$ 445,559$ 250,928$ 419,411$ 346,731$ 250,000$ 250,000$
10010080 41903 OTHER EXCISE - MEALS 338,449$ 361,435$ 413,538$ 426,532$ 471,339$ 430,000$ 442,900$
Local Receipt Category
Table 3-C. Other Excise 11 of 27 11/10/2015
Town of Lexington
Revenue Projections
Table 3-D: Local Receipt Detail - Penalties & Interest
FY11
Actual
FY12
Actual
FY13
Actual
FY14
Actual
FY15
Actual
FY16
Estimated
FY17
Projected
Penalties & Interest 568,595$ 461,887$ 468,003$ 670,076$ 522,301$ 347,000$ 346,000$
10010080-41701 PENALTIES AND INTEREST P.P. TAX 12,913$ 5,215$ 14,996$ 12,586$ 9,365$ 11,000$ 11,000$
10010060 41702 PENALTIES & INTEREST R.E. TAX 270,581$ 227,958$ 230,127$ 231,154$ 236,666$ 231,000$ 230,000$
10010060 41703 PENALTIES & INTEREST TAX LIENS 222,574$ 172,326$ 167,194$ 363,927$ 224,980$ 50,000$ 50,000$
10010060 41704 PENALTIES & INTEREST M.V. TAX 62,528$ 56,388$ 55,686$ 62,409$ 51,290$ 55,000$ 55,000$
Local Receipt Category
Table 3-D. Penalties&Interest 12 of 27 11/10/2015
Town of Lexington
Revenue Projections
Table 3-E: Local Receipts Detail - Payments-In-Lieu-Of-Taxes (PILOT'S)
FY11
Actual
FY12
Actual
FY13
Actual
FY14
Actual
FY15
Actual
FY16
Estimated
FY17
Projected
500,045$ 488,569$ 539,258$ 535,492$ 564,588$ 589,000$ 647,000$
Town of Arlington, MA 1,536$ 2,048$ 2,048$ 2,048$ 2,048$ 1,870$ 2,000$
City of Cambridge, MA 1,985$ 1,985$ 1,985$ 1,985$ 1,985$ 1,710$ 1,985$
Lexington Lodge #2204 BPOE (Elks)5,712$ 5,883$ 6,060$ 6,242$ 6,429$ 5,020$ 5,900$
Brookhaven 416,438$ 428,931$ 441,799$ 455,053$ 468,705$ 482,766$ 497,249$
Trustees of the Supreme Council (Masons)16,623$ 17,122$ 17,636$ 18,165$ 18,710$ 16,620$ 17,200$
Waldorf School (formerly classified as Rental Receipt)31,557$ 32,346$ 32,950$ 33,565$ 33,565$ 33,565$ 34,404$
Lexington Housing Authority -$ -$ 36,533$ 18,171$ 18,726$ 17,600$ 17,600$
Ameresco (solar arrays on town/school buildings) -$ -$ -$ -$ 14,081$ 30,000$ 30,000$
Solar City Corp. (solar arrays at Compost site at Hartwell Ave.)-$ 41,550$
Miscellaneous 26,192$ 252$ 246$ 339$ -$ -$
Local Receipt Category
10010070-41801
Table 3-E. PILOTS 13 of 27 11/10/2015
Town of Lexington
Revenue Projections
Table 3-F: Local Receipt Detail - Rentals
FY11
Actual
FY12
Actual
FY13
Actual
FY14
Actual
FY15
Actual
FY16
Estimated
FY17
Projected
314,443$ 336,842$ 336,836$ 384,180$ 287,082$ 264,150$ 277,770$
Buildings 10010100-43601 32,217$ 45,560$ 47,876$ 48,720$ 51,362$ 49,321$ 51,362$
Cell Towers 10010090-43298 282,227$ 291,282$ 288,959$ 335,466$ 235,720$ 214,833$ 226,410$
MWRA 78,762$ 80,978$ 59,527$ 113,100$ 53,271$ 53,271$ 60,000$
Nextel 38,256$ 39,404$ 40,586$ 41,803$ -$ -$ -$
Verizon 37,552$ 38,678$ 57,445$ 41,034$ 42,265$ 43,533$ 44,839$
Sprint/Nextel 38,356$ 39,507$ 40,692$ 41,913$ 43,058$ 44,349$ 45,680$
AT&T (formerly Cingular)34,994$ 36,043$ 36,657$ 37,015$ 45,061$ 40,567$ 41,784$
T-Mobile (now USA Mobility)29,001$ 29,421$ 28,260$ 51,011$ 62,476$ 33,114$ 34,107$
Metro PCS 25,307$ 27,252$ 25,793$ 9,590$ 7,196$ -$ -$
Notes:
Buildings 10010100-43601: based on rental agreements with the Waldorf School and LexFarm, and sidewalk agreements with Bertuccis and Peets
Cell tower revenues based on terms of existing cell tower lease agreements.
Local Receipt Category
Table 3-F. Rentals 14 of 27 11/10/2015
Town of Lexington
Revenue Projections
Table 3-G: Local Receipt Detail - Schools Departmental Revenue
FY11
Actual
FY12
Actual
FY13
Actual
FY14
Actual
FY15
Actual
FY16
Estimated
FY17
Projected
10010070-41801 549,295$ 576,164$ 272,741$ 807,116$ 601,557$ 502,000$ 504,580$
10010200 43401 TUITION -$ 13,000$ 41,815$ 64,739.28$ -$
10010200 48403 MEDICAID REIMBURSEMENT 359,676$ 444,360$ 151,494$ 711,015$ 453,360$ 435,623$ 435,000$
10010200 43404 MUSIC FEES 126,535$ 84,935$ 150$ -$ -$
10010200 43405 STUDENT PARKING FEES 14,472$ 14,821$ 13,800$ 4,800$ 12,420$ 10,500$ 12,000$
29,080$ 29,435$ 27,341$ 28,176$ 29,490$ 28,317$ 28,300$
19,532$ 2,614$ 66,956$ 15,785$ 41,548$ 28,452$ 29,280$
10010200-43402 SCHOOL BUS TICKETS -$ -$ -$ -$ -$ -$
10010200-43407 Homeless Student Transportation -$ -$ -$ 5,525$ 37,460$ -$ -$
Local Receipt Category
10010200 43406 TRANSCRIPT FEES
10010090 43299 E-Rate Filing Reimbursement
Table 3-G. Schools Dept. Rev. 15 of 27 11/10/2015
Town of Lexington
Revenue Projections
Table 3-H: Local Receipt Detail - Municipal Departmental Revenue
FY 11
Actual
FY12
Actual
FY13
Actual
FY14
Actual
FY15
Actual
FY16
Estimated
FY17
Projected
Departmental-Municipal 1,469,937$ 1,522,991$ 1,516,166$ 1,604,149$ 1,632,981$ 1,867,000$ 1,866,000$
10010090 42701 FIRE DEPT REC-AMBULANCE FEE 899,776$ 917,229$ 891,544$ 963,526$ 1,012,005$ 1,267,255$ 1,267,255$
10010090 42702 FIRE DEPT REC-FIRE ALARM FEES 7,250$ 16,050$ 7,450$ 32,750$ 15,350$ 15,875$ 15,770$
10010090 42703 POLICE DEPT REC-HOUSE ALARM 20,120$ 12,570$ 28,960$ 14,440$ 18,720$ 15,000$ 18,000$
10010090 43202 CERTIFICATE OF REDEMPTION 48$ 68$ 84$ 104$ 51$ 76$
10010090 43205 MUNICIPAL LIEN CERTIFICATES 40,975$ 49,005$ 47,765$ 32,079$ 34,504$ 41,482$ 38,000$
10010090 43208 SEALER OF WTS & MEASURES FEES 1,208$ 1,278$ 1,256$ -$ -$ 845$ 750$
10010090 43210 PROTECTED TREE FEES 9,795$ 27,819$ 29,235$ 24,285$ 24,985$ 20,345$ 23,000$
10010090 43213 FEES FOR ENGINEERING SERVIC 4,728$ 3,636$ 3,499$ 393$ 161$ 2,509$ 200$
10010090 43219 BATTLE GREEN GUIDES/CHARTERS 500$ 400$ 510$ 660$ 450$ 523$ 500$
10010090 43220 LIBERTY RIDE FEES -$ -$
10010090 43221 LEXPRESS FARES 89,128$ 88,530$ 87,724$ 89,867$ 80,215$ 88,707$ 86,000$
31,960$ 31,690$ 32,315$ 34,205$ 34,820$ 32,737$ 32,737$
10010090 43227 TOWN CLERK FEE 47,645$ 37,629$ 33,151$ 37,085$ 37,041$ 35,955$ 35,800$
10010090 43228 POLICE DEPT FEE 53,208$ 55,749$ 66,721$ 68,889$ 66,142$ 60,809$ 62,000$
10010090 43229 REGISTRY SURCHARGE FEE 31,090$ 32,935$ 35,275$ 33,325$ 29,205$ 32,545$ 32,545$
10010090 43230 DPW FEES FOR SERVICE 768$ 600$ 665$ 490$ 468$ 585$ 500$
10010090 43231 P.B. FILING & REVIEW FEES 23,900$ 17,400$ 15,825$ 34,500$ 21,600$ 21,805$ 21,805$
10010090 43232 B & Z MICROFILM FEES 13,838$ 12,856$ 13,783$ 11,765$ 15,155$ 12,801$ 13,600$
10010090 43233 B.O.A. HEARING FEES 15,650$ 18,564$ 21,519$ 13,526$ 16,438$ 17,870$ 17,140$
10010090 43234 P.B. SALE OF MAPS & DEV. RE 446$ 523$ 214$ 270$ 350$ 336$ 336$
10010090 43235 ANR PLAN FILING FEES 400$ 500$ 700$ 500$ 600$ 560$ 560$
10010090 43236 RENTAL CAR SURCHARGE FEES 2,382$ 2,665$ 3,145$ 3,181$ 3,283$ 2,715$ 2,715$
10010090 43238 CONSERVATION FEES 29,967$ 29,094$ 25,635$ 32,751$ 36,326$ 28,672$ 28,700$
10010090 43240 CEMETERY PREPARATION 119,688$ 139,063$ 122,321$ 122,087$ 133,079$ 127,824$ 127,200$
10010090 43299 MISC. FEES 25,515$ 20,709$ 23,806$ 27,190$ 35,323$ 23,902$ 26,500$
10010090 43302 AVLAON BAY MONITORING SERVICES -$ -$ -$ 19,300$ 9,650$ 9,650$ 9,650$
10010090 43545 SUPPORTIVE DAY CARE FEES -$ -$ 15,862$ -$ -$ -$
PATRIOT PARTNERS PAYMENT- SHADE ST. TRAFFIC
MITIGATION STUDY
-$ -$ -$ -$ -$ -$
-$ 6,450$ 7,217$ 7,000$ 7,007$ 6,450$ 5,535$
Notes:
FY2017 projections based on inspection of history of actual collections and projections of 3 and 5 year historical averages
10010090 43547 TRENCH PERMIT FEES
10010090 43226 FIRE DEPARTMENT FEE
Local Receipt Category
Table 3-H. Municipal Dept. Rev 16 of 27 11/10/2015
Town of Lexington
Revenue Projections
Table 3-I: Local Receipt Detail - Licenses & Permits
FY11
Actual
FY12
Actual
FY13
Actual
FY14
Actual
FY15
Actual
FY16
Estimated
FY17
Projected
Licenses & Permits 1,789,613$ 1,513,734$ 1,698,028$ 1,689,164$ 1,836,144$ 1,597,464$ 1,702,000$
10010120 44105 ALCOHOL & BEVERAGE LIC 80,550$ 76,600$ 75,675$ 85,175$ 78,985$ 79,150$ 79,150$
10010120 44201 BUILDING PERMITS 1,164,601$ 929,458$ 1,052,466$ 1,045,324$ 1,222,769$ 1,009,083$ 1,106,853$
10010120 44202 GAS PERMITS 22,388$ 33,381$ 29,204$ 27,871$ 27,799$ 27,194$ 27,194$
10010120 44203 WIRING PERMITS 232,327$ 165,171$ 209,317$ 189,587$ 190,993$ 187,540$ 190,000$
10010120 44204 PLUMBING PERMITS 62,233$ 62,633$ 69,326$ 64,076$ 60,215$ 65,345$ 63,697$
10010120 44205 SHEET METAL PERMITS -$ 10,840$ 23,978$ 27,012$ 25,741$ 12,366$ 17,500$
10010120 44223 COMBINED PERMITS 630$ 2,510$ -$ -$ -$ -$
10010120 44224 MECHANICAL PERMITS 41,873$ 40,675$ 45,833$ 50,086$ 29,365$ 40,477$ 30,000$
10010120 44225 SELECTMEN'S LIC. & PERMITS 9,535$ 2,955$ 2,490$ 2,905$ 735$ 2,783$ 1,000$
10010120 44226 DUMP PERMITS -$
10010120 44227 BOARD OF HEALTH LIC. & PERMITS 51,782$ 47,792$ 48,241$ 50,750$ 45,126$ 48,927$ 48,000$
10010120 44228 C.C. FARM LICENSE -$ -$ -$
10010120 44229 FIRE DEPT LIC. & PERMITS 32,325$ 32,930$ 28,225$ 30,250$ 38,545$ 30,239$ 32,455$
10010120 44230 B & Z MISC PERMITS 360$ 5,265$ 7,831$ 8,923$ 11,466$ 1,000$ 6,769$
10010120 44253 CABLE FRANCHISE LICENSE 7,330$ 4,201$ 4,299$ 4,328$ 6,946$ 4,276$ 4,300$
10010120 44258 FIREARMS LICENSE 2,263$ 3,113$ 4,125$ 3,700$ 2,350$ 2,918$ 2,350$
10010120 44290 TOWN CLERK'S LIC & PERMITS 46,480$ 46,928$ 48,595$ 49,485$ 49,120$ 46,748$ 48,122$
10010120 44293 DPW STREET OPENING PERMITS 30,813$ 44,758$ 42,704$ 44,948$ 38,258$ 35,000$ 40,296$
10010120 44294 RIGHT OF WAY OBSTRUCTION -$ 600$ 100$ 200$ -$ -$
10010120 44296 DRAIN LAYERS LICENSE 1,260$ 1,300$ 1,160$ 1,210$ 1,420$ 1,223$ 1,263$
10010120 44299 MISC. LICENSE & PERMITS 2,865$ 3,225$ 3,960$ 3,535$ 6,113$ 3,195$ 3,500$
Notes:
FY2017 projections based on inspection of history of actual collections and projections of 3 and 5 year historical averages
Local Receipt Category
Table 3-I. Licenses & Permits 17 of 27 11/10/2015
Town of Lexington
Revenue Projections
Table 3-J: Local Receipt Detail - Special Assessments
FY11
Actual
FY12
Actual
FY13
Actual
FY14
Actual
FY15
Actual
FY16
Estimated
FY17
Projected
32,689$ 24,885$ 24,312$ 103,086$ 43,110$ 20,600$ 13,000$
10010160 47502 STREET BTMT PD IN ADVANCE 32,689$ 1,734$ 4,296$ 78,518$ 14,608$
10010160 47691 STREET BTMT PRINCIPAL -$ 15,095$ 12,671$ 17,673$ 18,795$
10010160 47690 STREET BTMT INTEREST -$ 8,057$ 7,345$ 6,894$ 9,707$
Local Receipt Category
Table 3-J. Special Assessments 18 of 27 11/10/2015
Town of Lexington
Revenue Projections
Table 3-K: Local Receipts Detail - Fines & Forfeits
FY11
Actual
FY12
Actual
FY13
Actual
FY14
Actual
FY15
Actual
FY16
Estimated
FY17
Projected
Fines & Forfeits 329,394$ 344,126$ 335,984$ 376,800$ 284,355$ 345,000$ 321,000$
10010170 47702 PARKING FINES 87,106$ 104,709$ 120,898$ 141,422$ 108,965$ 115,424$ 112,620$
10010170 47704 NON CRIMINAL FINES 16,360$ 10,585$ 10,526$ 14,295$ 11,485$ 11,802$ 12,102$
10010170 47706 REGISTRY CMVI 213,823$ 226,253$ 199,861$ 215,247$ 160,578$ 213,787$ 191,895$
10010150 46801 COURT FINES 12,105$ 2,580$ 4,700$ 5,836$ 3,328$ 4,372$ 4,621$
Local Receipt Category
Notes: Projections are based on inspection of 3 and 5 year averages.
Table 3-K. Fines & Forfeits 19 of 27 11/10/2015
Town of Lexington
Revenue Projections
Table 3-L.: Local Receipt Detail - Investment Income
FY11
Actual
FY12
Actual
FY13
Actual
FY14
Actual
FY15
Actual
FY16
Estimated
FY17
Projected
Investment Income 309,099$ 247,761$ 272,998$ 278,458$ 304,213$ 288,000$ 314,000$
10010180 48211 INT EARNED ON SAVINGS 309,099$ 247,761$ 272,998$ 278,458$ 304,213$ 288,000$ 314,000$
Local Receipt Category
Table 3-L. Investment Income 20 of 27 11/10/2015
Town of Lexington
Revenue Projections
Table 3-M: Local Receipt Detail - Miscellaneous Recurring & Non-Recurring
FY11
Actual
FY12
Actual
FY13
Actual
FY14
Actual
FY15
Actual
FY16
Estimated
FY17
Projected
890,801$ 1,372,744$ 912,784$ 2,156,721$ 1,041,307$ -$ -$
Miscellaneous Non-Recurring 495,589$ 373,160$ 336,411$ 717,439$ 704,099$ -$ -$
Premium on Debt -$ 534,041$ 456,998$ 1,436,035$ 337,209$ -$ -$
Medicare Part D/RDS Subsidy 395,212$ 465,544$ 119,375$ 3,247$ -$ -$ -$
Notes:
Local Receipt Category
No estimate is made for this category of revenue as they are unpredictable with the exception of the Medicare Part D / RDS Subsidy.
The Medicare Part D / RDS Subsidy was received annually as a result of Lexington providing retiree drug coverage and was applied in
the year after its receipt toward funding of the Town's OPEB liability. Beginning in FY13, the Town joined the Commonwealth's Group
Insurance Commission (GIC). As a result, the Medicare Part D/RDS Subsidy is now passed through the to the Town in the form of a
credit against the monthly premium The Town pays to the GIC.
Table 3-M. Misc. Rec & Non-Rec 21 of 27 11/10/2015
Table 4-A: Available Funds
Available Fund Categories Appropriated
Fiscal 2011
Appropriated
Fiscal 2012
Appropriated
Fiscal 2013
Appropriated
Fiscal 2014
Appropriated
Fiscal 2015
Appropriated
Fiscal 2016
Projected Fiscal
2017
Parking 335,000$ 335,000$ 335,000$ 335,000$ 335,000$ 395,000$ 395,000$
Cemetery 120,000$ 120,000$ 105,000$ 105,000$ 105,000$ 105,000$ 105,000$
Free Cash 6,159,509$ 7,125,000$ 6,269,024$ 11,650,931$ 9,380,309$ 12,764,202$ 10,995,579$
Health Claims Trust Fund -$ -$ -$ -$ 1,000,000$ 1,858,947$ 1,200,000$
Capital Projects Stabilization Fund -$ -$ -$ -$ 919,000$ 620,567$ -$
Transp.Demand Mgmt. Stab. Fund 83,000$ 83,560$ 85,160$ 90,000$ 88,000$ 137,000$ 137,000$
Center Improvement District Stabilization Fund -$ 15,000$ -$ -$ -$ -$
Insurance Proceeds 117,796$ 4,610$ 200,000$ -$ -$ -$
School Bus Stabilization Fund 4,587$ -$ -$ -$ -$ -$
Avalon Bay School Enrollment Mitigation Fund -$ 250,000$ 250,000$ 250,000$ 49,096$ -$
Balances from Prior Yr. Capital Articles -$ 42,046$ 5,468$ 42,579$ 54,888$ 71,082$ -$
Total Available Funds 6,819,892$ 7,975,216$ 7,249,652$ 12,473,510$ 11,931,293$ 15,951,798$ 12,832,579$
Table 4-A. Available Funds 22 of 27 11/10/2015
Town of Lexington
Revenue Projections
Table 4-B: Parking Meter Fund
Revenues
org 24049310 FY 2009 FY 2010 FY 2011 FY 2012 FY2013 FY2014 FY2015
Beginning Balance 498,597$ 521,938$ 533,574$ 517,135$ 521,705$ 596,625$ 678,543$
Budgeted (Expenses)(325,000)$ (325,000)$ (335,000)$ (335,000)$ (335,000)$ (335,000)$ (335,000)$
Actual Collected 348,341$ 336,636$ 318,562$ 339,570$ 409,920$ 416,918$ 400,424$
Ending Balance 521,938$ 533,574$ 517,136$ 521,705$ 596,625$ 678,543$ 743,967$
Notes:
Parking Fund does not include fines from tickets - only permit sales & meter collections.
Appropriated from the Parking Meter Fund
Program Department Category FY 2009 FY 2010 FY 2011 FY2012 FY2013 FY2014 FY2015
DPW
3110 Administration Expenses 2,254$ 1,707$ 2,673$ 1,715$ 2,175$ 2,149$
3210 Highway Maintenance Expenses 32,500$ 29,996$ 28,489$ 31,383$ 33,112$ 69,899$ 66,937$
3610 Lexpress Expenses
3620 Parking Operations Personal Services 99,355$ 7,654$ 7,375$ 7,910$ -$ -$ -$
Expenses 36,963$ 2,402$ 2,399$ 2,584$ -$ -$ -$
DPW Total 168,818$ 42,306$ 39,970$ 44,550$ 34,827$ 72,074$ 69,086$
Police
4110 Police Admin Personal Services 53,301$ 79,243$ 85,511$ 90,002$ 86,452$ 73,744$ 74,543$
4120 Patrol & Enforce Personal Services 28,426$ 197,538$ 203,303$ 194,487$ 194,183$ 170,654$ 173,366$
4130 Parking Meter Maintenance Personal Services 50,622$ 4,164$ 4,066$ 3,905$ -$ -$
Expenses 23,833$ 1,749$ 2,150$ 2,056$ -$ -$
4130 Traffic Bureau Personal Services -$ -$ -$ -$ 14,812$ 14,919$ 15,006$
Expenses -$ -$ -$ -$ 4,725$ 3,609$ 2,999$
Police Total 156,182$ 282,694$ 295,030$ 290,450$ 300,173$ 262,926$ 265,914$
Total Parking Meter Appropriation 325,000$ 325,000$ 335,000$ 335,000$ 335,000$ 335,000$ 335,000$
Table 4-B. Parking Collections 23 of 27 11/10/2015
Town of Lexington
Revenue Projections
Table 4-C: Free Cash History
A B C D E F G
FY 2001 1,836,400$ 3,086,536$ 1,208,713$ -$ (692,645)$ 5,439,004$
FY 2002 2,250,004$ (603,164)$ 487,229$ -$ -$ 2,135,507$
FY 2003 1,495,174$ (372,684)$ 232,472$ -$ (39,959)$ 1,315,003$
FY 2004 1,315,003$ (301,684)$ 588,899$ -$ -$ 2,323,303$
FY 2005 2,123,303$ 1,732,103$ 333,862$ 1,852,214$ (715,232)$ 5,409,985$
FY 2006 5,409,985$ 3,385,764$ 429,318$ -$ (5,422,720)$ 3,802,347$
FY 2007 3,802,347$ 2,462,181$ 1,966,642$ 432,693$ (3,802,347)$ 4,861,516$
FY 2008 4,861,516$ 2,084,646$ 2,967,150$ 429,921$ (4,861,516)$ 5,481,717$
FY 2009 5,481,717$ 1,669,160$ 3,113,850$ 1,376,499$ (5,481,717)$ 6,159,509$
FY 2010 6,159,509$ 2,476,716$ 3,772,879$ 875,405$ (6,159,509)$ 7,125,000$
FY 2011 7,125,000$ 2,392,461$ 4,797,523$ 953,116$ (7,125,000)$ 8,143,100$
FY 2012 8,143,100$ 3,800,023$ 5,889,241$ 2,911,667$ (8,143,100)$ 12,600,931$
FY 2013 12,600,931$ 3,751,452$ 4,417,500$ 1,260,573$ (11,727,331)$ 10,303,125$
FY 2014 10,303,125$ 4,677,709$ 7,407,913$ 422,581$ (9,703,125)$ 13,108,202$
FY 2015 13,108,202$ 4,858,093$ 4,432,010$ 1,841,084$ (12,764,202)$ 11,475,187$
Notes:
The table above shows the factors that drive the annual certification of free cash.
Cert. F.C. 10010070-
41801 Beginning Free Cash Misc. Factors
Appropriations
from F.C. and other
adjustments
Receipts in
Excess of
Estimates
Expenditures
less than App.
Table 4-C. Free Cash 24 of 27 11/10/2015
Town of Lexington
Revenue Projections
Table 5-A: Revenue Offsets
FY11 FY12 FY13 FY14 FY15 FY16 FY17
Actual Actual Actual Actual Actual Estimated Projected
Cherry Sheet Assessments (737,040)$ (736,561)$ (813,255)$ (795,309)$ (811,754)$ (817,550)$ (846,164)$
Cherry Sheet Offsets
School Lunch (17,758)$ (22,523)$ (24,262)$ (30,207)$ (26,514)$ -$ -$
Public Libraries (36,090)$ (37,988)$ (37,489)$ (39,714)$ (47,462)$ (46,897)$ (46,897)$
Overlay (abatements)(896,369)$ (1,023,396)$ (770,344)$ (779,391)$ (953,485)$ (750,000)$ (750,000)$
Snow Deficit -$ (654,053)$ -$ -$ (653,006)$ (643,650)$ (300,000)$
Health Withholding Account Deficit (647,057)$
Total Revenue Offsets (1,687,257)$ (2,474,521)$ (1,645,350)$ (1,644,621)$ (2,492,221)$ (2,905,154)$ (1,943,061)$
Notes:
FY2017 Cherry Sheet Assessments reflect an assumed 3.5% increase over FY2016 assessments.
Category
Table 5-A. Revenue Offsets 25 of 27 11/10/2015
Town of Lexington
Revenue Projections
Table 6-A: Enterprise Receipts
Category FY11
Appropriated
FY12
Appropriated
FY13
Appropriated
FY14
Appropriated
FY15
Appropriated
FY16
Estimated
FY17
Projected
Water 743,400$ 704,624$ 665,848$ 818,689$ 789,275$ 898,614$ 925,572$
Wastewater (Sewer)668,990$ 646,217$ 623,444$ 450,116$ 465,030$ 478,354$ 492,705$
Recreation 203,583$ 213,600$ 223,600$ 228,600$ 233,600$ 240,608$ 247,826$
Total Enterprise Receipts 1,615,973$ 1,564,441$ 1,512,892$ 1,497,405$ 1,487,905$ 1,617,576$ 1,666,103$
Notes:
Projected FY17 is based on an assumed 3% increase in costs. These figures will be revised upon completion of an update of last year's indirect cost analysis that is currently
in progress.
Table 6-A. Enterprise Receipts 26 of 27 11/10/2015
Town of Lexington
Revenue Projections
Table7-A: Revenues Set Aside for Designated Purposes
Category Appropriated
FY2011
Appropriated
FY 2012
Appropriated
FY 2013
Appropriated
FY2014
Appropriated
FY2015
Projected
FY2016
Projected
FY17
710,000$ -$ -$
-$ -$ -$ -$ 983,261$
200,000$ 200,000$ 156,000$ 200,000$ 200,000$
-$ -$ -$ -$
919,000$ 620,567$ -$
216,836$ 233,172$
1,600,000$ 4,855,174$ 5,910,726$ 9,447,832$ 3,100,000$
-$ -$
-$ 216,885$ -$ -$ -$
1,270,000$ 1,615,000$ 2,307,497$ 4,855,174$ 3,524,891$ 2,190,082$ 2,500,000$
479,399$ 500,000$ 500,000$ 775,000$ 1,119,000$ 1,200,000$ 1,512,318$
350,000$ -$
551,578$ 846,602$ 1,425,586$ 1,890,074$ 2,254,924$ 2,270,145$ 2,235,746$
161,534$ 165,572$ 169,711$ 173,954$ 178,303$ 182,760$ 187,329$
-$ 10,000$ 20,000$ 20,000$ 20,000$ 20,000$ 20,000$
-$ -$ 316,250$ 3,560,000$ 322,816$ -$
Total Set Aside for Designated Uses 3,722,511$ 3,554,059$ 6,339,044$ 16,129,376$ 14,405,660$ 16,348,222$ 10,971,827$
2 FY13 amount is for the School Bus Transportation Subsidy approved under Article 17 of the 2012 annual town meeting. FY14 amount is the general
fund share of purchase price of the property at 33 Marrett Road. The FY15 amount is the general fund share of the Phase I improvements at 33
Marrett Road voted at the Nov. 2013 special town meeting.
1 FY14 amount includes $1.5 million voted for Estabrook School Access Improvements under Article 5 of the November 2012 special town meeting.
The FY15 amount includes $350,000 to be deposited into the Fund in anticipation of its appropriation at the 2015 annual town meeting to mitigate
FY16 exempt debt service attributable to the Bridge/Bowman and Estabrook School renovation/reconstruction projects.
Capital Project/Debt Service Reserve/Building Renewal
Stabilization Fund
Set-Aside for potential cuts in Federal Grants
Return Premium to CPA Fund
Cash Capital 1
Other Post-Employment Benefit Liability (OPEB)
Special Education Reserve
Street Improvement Program
Building Envelope Program
Senior Work-Off Program
Other 2
Set-Aside for Tax Levy Support of Community Center
Program (Transfer to Article 5)
General Stabilization Fund
Set-Aside for as yet identified needs
Set-Aside for Unanticipated Current Fiscal Year Needs
Set-Aside for potential reductions in state aid
Set-Aside to mitigate debt service impacts of LHS
Modular Classroom Financing
Table 7-A. Revenues Set Aside for Designated Uses 27 of 27 11/10/2015
AGENDA ITEM SUM M ARY
LEXINGTON BOARD OF SELECTMEN MEETING
AGENDA ITEM TITLE:
Discussion: Financing Analysis for Upcoming Capital Projects
PRESENTER:
Carl F. Valente, Town Manager; Rob
Ad d els o n, As s is tant Town Manager for
F inance
ITEM
NUMBER:
SUMMARY:
Following the dis c us s ion at S ummit 1, s taff and repres entatives fro m the Board o f S electmen, S cho o l
Committee, Ap p ro p riation Co mmittee and Capital Expend itures Co mmittee have begun to develo p a financ ial
mo d el projec ting the d eb t s ervic e impac ts for tho s e c ap ital p ro jects sc heduled o ver the next five years . Further,
this model as s umes that these p ro jects will b e c o ns idered fo r a Proposition 2 1/2 Deb t Exclus io n and, if
ap p ro ved, estimates the imp act these p ro jects will have on the average resid ential property tax bill.
Projec ts inc lud ed in the financial mo d el include:
Fire s tation c o ns truc tion/reno vatio n (while not a Sc hool Fac ility Projec t this is inc luded as a likely
p ro ject o ver the next five years )
Polic e s tatio n cons tructio n/renovation (while no t a S cho o l Facility Pro jec t this is includ ed as a likely
p ro ject o ver the next five years )
Sc hool fac ilities d es ign (previo usly ap p ro ved b y Town Meeting)
Diamond Mid d le S cho o l exp ansion
Clarke Mid d le S cho o l exp ansion
Purchas e o f 20 Pelham Ro ad sc hool and reno vatio n
New Has tings S cho o l, as s uming no MS BA funding
Harrington S cho o l reno vatio ns to exis ting LC P (pre-K) c las s ro o ms
Minuteman LC P reno vatio ns
New LC P at Harrington S cho o l
Lexingto n High Sc hool HVAC projec t
Mo s t p ro jects are modeled fo r 30 year d eb t.
The financial model inc ludes use o f the Capital Projec ts Stab ilization Fund to mitigate taxp ayer imp act.
The financial model as s umes a $2,000,000 co ntrib utio n to the Cap ital Stabilizatio n Fund in FY17, b ut no
further contrib utio ns to the F und after that date.
SUGGESTED MOTION:
FOLLOW-UP:
DATE AND APPROXIMATE TIME ON AGENDA:
11/12/2015
ATTACHMENTS:
Des crip tion Typ e
Financing Analys is and Plan Cover Memo
Project Components Estimated Cost
FY21 Estimated
Property Tax Impact
Per Residential Parcel
(Peak Year)
Pre-K
1 Minuteman Pre-K (leased space)Modify for LCP 340,000$
2 Harrington Convert LCP Space to Gen. Ed.154,500$
3 New LCP At Harrington Site 10,731,000$
4 Subtotal - Pre-K 11,225,500$
Elementary
5 New Hastings School 30 Section School 59,685,000$
6 Purchase and Renovate Pelham Rd. Property 2017 Occupancy Planned 20,889,000$
7 Subtotal - Elementary 80,574,000$
Middle Schools
8 Diamond Middle School Renovations Relocate Cafeteria
9 Relocate ILP
10 HVAC Upgrade
11 Renovate Lab Space
46,149,000$
12 Clarke Middle School Renovations
13 Base Renovations
14 Replace Partition Walls
15 Renovate Lab Space
16 21,189,000$
17 Subtotal - Middle Schools 67,338,000$
High School
18 Upgrade HVAC Systems
19 Subtotal - High School 13,200,000$
20 Other School Projects Design Approved at 2015 STM 3,171,761$
21 Subtotal-All School Projects 175,509,261$ 821$
Public Safety
22 New/Renovated Fire Station 19,200,000$
23 New/Renovated Police Station 19,800,000$
24 Subtotal-Public Safety Projects 39,000,000$ 179$
25 TOTAL - ALL PROPOSED FY17-21 PROJECTS 214,509,261$ 1,000$
Notes:1. Assumes NO MSBA Funding for Hastings School. MSBA Decision due in December 2015.
2.
3.
4.
Project
Financial Impact of Major Capital Projects - FY17-21
While a future renovated/expanded High School project is anticipated, this financing model does not include any cost to add
additional building at the High School.
Estimated tax impact does not include normal 2.5% annual increase in tax levy or any potential operating budget Override that
may be necessary to fund increasing school enrollments.
Financing Model assumes that the Capital Projects Stabilization Fund will be applied during the FY17-21 period to mitigate
property tax impacts.
11/9/2015
November 9, 20152Town of Lexington Next Steps1. Appropriation Committee and Capital Expenditure Committee Review2. Value Engineering by Permanent Building Committee3. Analyze Impact of Growing Enrollment on Operating Budget (initial analysis presented at Summit 1)4. Input from Town Meeting (Nov. 16 and Dec. 2)5. Community Input
AGENDA ITEM SUM M ARY
LEXINGTON BOARD OF SELECTMEN MEETING
AGENDA ITEM TITLE:
Discussion: Possible Dates for Debt Exclusion Vote
PRESENTER:
Jo e Pato, Chairman, Board o f
S electmen
ITEM
NUMBER:
3.
SUMMARY:
Proposed d ates for a Deb t Exclus io n Vote are Marc h 29, Ap ril 5 and April 12.
SUGGESTED MOTION:
FOLLOW-UP:
DATE AND APPROXIMATE TIME ON AGENDA:
11/12/2015
AGENDA ITEM SUM M ARY
LEXINGTON BOARD OF SELECTMEN MEETING
AGENDA ITEM TITLE:
Set Date - Summit 3
PRESENTER:
Carl F. Valente, Town Manager
ITEM
NUMBER:
4.
SUMMARY:
The p ro p o s ed d ates fo r S ummit 3 are Dec ember 9 o r 10.
SUGGESTED MOTION:
FOLLOW-UP:
DATE AND APPROXIMATE TIME ON AGENDA:
11/12/2015
AGENDA ITEM SUM M ARY
LEXINGTON BOARD OF SELECTMEN MEETING
AGENDA ITEM TITLE:
Executive Session-Exemption 6-Discussion Regarding Purchase of 20 Pelham Road
PRESENTER:
Jo e Pato, Chairman, Board o f
S electmen
ITEM
NUMBER:
SUMMARY:
Disc uss Pelham p ro p erty.
SUGGESTED MOTION:
Sugges ted Motio n: Move that the Board of Selectm en, School Committee, Appropriati on Committee and
Capital Expendi tures Committee go into Executi ve Session to consider the purchase, exchange, lease or
value of real property, 20 Pel ham Road, and to reconvene in Open Session onl y to adjourn. Further, that
as Chairm an, I decl are that an open m eeti ng m ay have a detrim ental effect on the negotiating position
of the Tow n.
FOLLOW-UP:
DATE AND APPROXIMATE TIME ON AGENDA:
11/12/2015