HomeMy WebLinkAbout2021-09-22 Fall Fiscal Guidelines Summit Packet - Released S elect Board, S chool C ommittee,Appropriation C ommittee,
C apital E xpe nditure s C o mmitte e
September 22, 2021
7:00 PM
Conducted by Remote Participation*
AGENDA
ITEMS FOR INDIVIDUAL CONSIDERATION
1. F all F is c al Guidelines S ummit 7:OOpm
• F is c al Year 2021 O p erating R es ults and F ederal F und s R eview
• P ro p o s ed C ap ital S tab ilizatio n F und F ramewo rk
• Other F is c al Guideline C onsiderations
• Fall 2021 STM Articles and Proposed Budget Revisions
• Establish Date:Fiscal Year 2023 Budget Summit I
ADJOURN
1. Anticipated Adjournment 8:30pm
*An Act Extending C ertain C O VID-19 Measures: http s://v��ww.mas s.gov/s ervic e-detaiLs/updated-
guidance-on-holding-meetings-pursuant-to-the-act-extending-certain-covid-l9-measures
Membe�s of the public can view the meeting webina�f�o�n thei�computer o�tablet by clicking on
the following link at the time of the jneeting:
http s://us06web.zoom.us/j/81764742339?pwd=dE 1 VS E56cXpBaTc2ZkdYW S 9ENytodz09
iP ho ne o ne-tap:
+13017158592„81764742339# or+13126266799„81764742339#
Telephone:+1 301 715 8592 or+1 312 626 6799 or+1 929 436 2866 or+1 253 215 8782 or+1 346 248
7799 or+1 669 900 6833
Webinar ID: 817 6474 2339
Passcode: 347191
T he next regularly s c heduled meeting o f the S elec t B o ard will b e held o n Mo nd ay, S ep temb er 27, 2021 at
7:OOp m via remo te p artic ip atio n.
Hea�ing Assistance Devices Available on Request �
All agenda time and the or�de�of items a�e apprnximate and subject to change.
� � ��
Recarded by LexMedia
AGENDA ITEM SUMMARY
LEXINGTON BOARD OF SELECTMEN MEETING
AGENDA ITEM TITLE:
Fall Fiscal Guidelines Summit
PRESENTER: ITEM
James Mallo Town Mana er• NUMBER:
Y� g �
C aro lyn Ko sno ff,As s istant Town
Mana er fo r F inanc e I.1
g
Sub Item:
• Fiscal Year 2021 Operating Results and Federal Funds Review
• Proposed Capital Stabilization Fund Framework
• Other Fiscal Guideline Considerations
• Fall 2021 STM Articles and Proposed Budget Revisions
• Establish Date: Fiscal Year 2023 Budget Summit I
S UMMARY:
Staff will present the FY2021 operating results and federal funds review;proposed Capital Stabilization Fund
framewo rk; o ther fis c al guid eline c o ns id eratio ns; the fall 2021 S p ec ial To wn Meeting artic le s and p ro p o s ed
budget revision; and, establish the date for the FY2023 Budget Summit I meeting.
SUGGESTED MOTION:
FOLLOW UP:
DATE AND APPROXIMATE TIME ON AGENDA:
9/22/2021 7:OOpm
ATTACHMENTS:
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� MEMORANDUM �
TO: Select Board
FROM: James Malloy, Town Manager
Carolyn Kosnoff,Assistant Town Manager for Finance
Jennifer Hewitt, Budget Officer
DATE: September 17, 2021
SUBJECT: FY2021, 4th Quarter Budget Status Report
Summary
This report provides 4th quarter FY2021 analysis of Budget to Year-to-Date revenues and expenditures
as of June 30, 2021 for General, Enterprise and Revolving Funds. The General Fund accounts for the
Town's annual operating budget. Water, sewer and recreation/community programs are reflected in the
Enterprise Funds. Revolving funds are self-supporting operations for a specific task or program.
For the purpose of analysis, it is assumed that as of the end of 4th quarter, 100% of estimated revenues
should have have been collected, and that departments will have similarly spent 100% of their
appropriation.
In general, both expenditures and revenues are in line with management's expectations as of the end of
the 4th quarter of FY2021. A detailed breakdown of revenue collections can be found on pages 8-11, with
expenditures on pages 12-24. The summary table below indicates the total activity for these items:
Summary of Operating Revenues and Expenditures
Revenue �A) (B) (A-B) B�A
Estimates Collections Uncollected % Collected
General Fund $ 244,510,999 $ 246,563,259 $ (2,052,260) 100.84%
Enterprise Funds $ 24,853,846 $ 28,543,486 $ (3,689,640) 114.85%
(A) (B) (C) (D) (B+C)/A (B/A)
Expenditures Revised % Used % Used
Budget* Expenditures Encumbered Available (Exp. & Enc.) (Exp. Only)
General Fund $ 225,860,768 $ 210,833,677 $ 5,715,786 $ 9,311,305 95.88% 93.35%
Enterprise Funds $ 24,467,540 $ 23,855,006 $ 221,475 $ 391,059 98.40% 97.50%
G ra n d Total $ 250,328,308 $ 234,688,683 $ 5,937,261 $ 9,702,364 96.12% 93.75%
*Incorporates($129,562)in net General Fund budget adjustments and$1.36 million in Enterprise budget reductions approved at Special
Town Meeting 2020-3(of which$1.01 million was a reduction in the Recreation Enterprise due to reduced programming during the
pandemic),and$459,851 in net General Fund budget adjustments approved at 2021 Annual Town Meeting.
FY2021, Quarter 4 Budget Status Report 1
Genera/Fund Revenue Collections
Revenue collections were largely in line with estimates. As of June 30, 2021, 100.84% or $246,563,259
of total estimated revenue for FY2021 ($244,510,999) had been collected. The majority of revenue
(84.7%) is received from Property Tax receipts, which are currently at 99.47% of budgeted levels. This is
in line with overall collections from prior years and does not appear to reflect any negative impact from
the pandemic.
In addition, a total of$213,324 has been received from Supplemental Tax Billing. This amount is
captured as Misc. Non-Recurring Revenue in the table below.
A breakdown of General Fund Revenue is shown below:
Summary of Revenue Collections - General Fund
(A) (B) (A-B) (B/A)
FY2021
Revenue Percent
Estimates* Collections Uncollected Collected
Property Tax $ 207,014,710 $ 205,926,584 $ 1,088,126 99.47 %
State Aid $ 16,270,878 $ 16,157,540 $ 113,338 99.30 %
Local Receipts $ 12,104,341 $ 15,358,065 $ (3,253,724) 126.88 %
Motor Vehicle Excise $ 5,391,573 $ 5,335,129 $ 56,444 98.95 %
Other Excise(meals,jet fuel,hotel/motel) $ 412,000 $ 813,643 $ (401,643) 197.49 %
Penalties and Interest $ 341,500 $ 445,590 $ (104,090) 130.48 %
Payment in Lieu of Taxes(PILOTS) $ 683,000 $ 660,966 $ 22,034 96.77 %
Rentals of Town Buildings $ 393,275 $ 473,201 $ (79,926) 120.32 %
Departmental-School $ 88,500 $ 337,909 $ (249,409) 381.82 %
Departmental-Municipal $ 2,522,525 $ 2,396,261 $ 126,264 94.99 %
Licenses&Permits $ 1,906,600 $ 3,544,914 $ (1,638,314) 185.93 %
Special Assessments $ 14,368 $ 25,644 $ (11,276) 178.48 %
Fines and Forfeitures $ 101,000 $ 59,820 $ 41,180 59.23 %
Investment Income $ 250,000 $ 277,170 $ (27,170) 110.87 %
Misc. Non-Recurring Revenue $ - $ 987,817 $ (987,817) ---
Interfund Operating Transfers $ 9,121,070 $ 9,121,070 $ 100.00 %
Total General Fund Revenue $ 244,510,999 $ 246,563,259 $ (2,052,260) 100.84 %
*Does not include Free Cash appropriated under Article 4 to support the FY2021 Operating Budget
Explanation of Significant Variances
1. Motor Vehicle Excise -The Treasurer issued a second round of bills from the Registry in late May,
which positively impacted collections from the cautionary note included in the Q3 report.
2. Other Excise - This revenue stream reflects meals and hotel/motel local option excise tax collections,
and has been the area most directly impacted by the pandemic. In the updated FY2021 budget, staff
assumed a very conservative forecast, using 25% of historic revenues. Actual collections have been
higher than forecasted. Meals excise has been particularly strong, whereas Hotel/Motel, our largest
revenue stream in this category, has continued to lag behind pre-pandemic levels (though still
meeting revised budget targets). Further detail can be found in the Revenue Report (page 8). The
level of consumer activity as the economy reopens will have a direct impact on this area.
FY2021, Quarter 4 Budget Status Report 2
3. Penalties and Interest- In FY2020, the Select Board adopted a policy to extend the due date of
property tax bills and waive interest until June 30th for bills due after March 15th. Due to this policy
change, FY2020 demand notices were not mailed until the beginning of the new fiscal year. If a
resident overlooked their original bill, they did not receive a reminder until July, and interest had been
applied back to the due date, which was in March for Motor Vehicle Excise, and June 30th for all other
overdue bills. This anomaly in policy and timing is behind the larger than expected revenues.
4. Departmental - School - The largest driver of school revenue is from Medicaid reimbursements, which
were originally projected to decline sharply due to a change in reimbursement rules. Due to the
pandemic the reimbursement changes were delayed, and revenues are above original projections.
The Medicaid forecast for FY2022 was increased from $50,000 to $200,000 based on this experience
and further input from school leaders.
5. Licenses & Permits - Building Permits include more than $650,000 from three commercial
developments which were permitted in late 2020, including 1050 Waltham Street, and strong
residential permitting activity. Continued revenues will be dependent on timing of activity in the
market.
6. Special Assessments include amounts paid in advance when a property is sold or refinanced.
7. Fines and Forfeitures is primarily made up of parking fines. Revenue has been minimal as the Town
stopped enforcing parking violations during the pandemic. In September 2021, the Town's new Pay-
by-Phone application will go live and the police department will resume issuing fines at unpaid
meters. This revenue stream is expected to pick back up in FY2022.
8. Misc. Non-Recurrinq Revenue is not budgeted due to the one-time nature of the revenue received.
For instance, the FY2021 amounts include FEMA snowstorm payments ($222,000); reimbursements
for the LED Street Light project ($320,300); and Supplemental Billing revenues ($213,324).
Genera/Fund Expenditures
As of June 30, 2021, 93.35% of the FY2021 General Fund budget of$225,860,768 has been expended
and 95.88% has been expended or encumbered. Expenditures represent actual payments made for
goods and services and encumbrances are reservations of budgets for goods or services ordered but not
paid in FY2021.
The revised budget in the Spending Report reflects the end-of-year transfers approved by the Select
Board and Appropriation Committee in July, as well as the approved transfers from the Salary Adjustment
accou nt.
A breakdown of the General Fund Operating Budget is shown below:
Summary of Operating Expenditures -General Fund
(A) (B) (C) (D) (B+C)/A (B/A)
Revised % Used % Used
Budget* Expenditures Encumbered Available (Exp. & Enc.) (Exp. Only)
Education $ 121,220,803 $ 114,222,861 $ 3,915,097 $ 3,082,845 97.46% 94.23%
Shared Expenses $ 63,073,305 $ 58,548,340 $ 783,821 $ 3,741,145 94.07% 92.83%
Municipal $ 41,566,660 $ 38,062,477 $ 1,016,868 $ 2,487,315 94.02% 91.57%
Total $ 225,860,768 $ 210,833,677 $ 5,715,786 $ 9,311,305 95.88% 93.35%
*Incorporates($129,562)in net General Fund budget adjustments approved at Special Town Meeting 2020-3,and$459,851 in net General
Fund budget adjustments approved at 2021 Annual Town Meeting.
Explanation of Significant Variances -
1. Education - The school department spending ended the year in line with expectations. Schools are
turning back $3.08 million, of which $2.14 million is related to personal services and $941,498 is from
expenses.
FY2021, Quarter 4 Budget Status Report 3
2. Shared Expenses captures health benefits, debt service and Public Facilities, among others. Shared
expensed ended the fiscal year in line with expectations, and much of the turn-back is related to the
health insurance line item and unused reserve funds. Public Facilities ended the year within budget
due to many public buildings remaining closed throughout the year. HVAC filtration and more
frequent/deep cleaning at the schools due to COVID-19 were not budgeted, and therefore qualified
for reimbursement under the CARES Act. Expenses covered by Federal funds are not reflected in this
presentation.
3. Municipal - Municipal department spending ended the year in line with expectations. Municipal
departments are turning back $2.49 million, of which $647,731 is related to personal services and
$1.84 million is from expenses.
Summary of COVID Expenses and Federal Funding
In March 2020, the Federal government approved the Coronavirus Aid, Relief and Economic Security Act,
known as the CARES Act. Funding was provided to states, and Massachusetts provided a significant
portion to municipalities, including $2,979,363 for Lexington to cover unanticipated and emergency
expenses resulting from the COVID-19 pandemic. In addition to this municipal allocation the CARES Act
provided further emergency assistance through the Federal Emergency ManagementAgency (FEMA),
education support through the Department of Elementary and Secondary Education (DESE), and various
other Federal and State agencies in the from of smaller sized grants.
Eligible uses and spending deadlines for these funds have continued to change and evolve over the last
18 months, and expenses after December 31, 2020 are provided on a reimbursement basis. Lexington's
use of CARES Act funds included the following:
a. HVAC testing and improved filtration in our school and municipal buildings
b. School department's pooled testing program (split allocation between CARES Act and FEMA)
c. IT equipment and software for remote working and holding virtual public meetings, including
remote Town Meeting
d. Specialized ambulance equipment for the Fire department to safely and effectively transport and
treat COVI D patients
e. Personal protective equipment and cleaning supplies for all town departments
f. Temporary health department staffing, primarily contact tracers
g. Daily deep cleaning of the Lexpress busses
h. Supplies for curbside pickup at the Library
i. Election expenses including additional staffing and postage due to a significant volume of mail-in
ballots and early voting for the primary and general elections
j. Unemployment expenses for Town and School employees
k. Support for Minuteman Tech's COVID needs (other member Towns also contributed)
The deadline for spending CARES Act funds is October 29, 2021, and all associated reporting is due
shortly thereafter. Management has made every effort to maximize the use of these funds to supplement
our local budget. The table below summarizes our inception-to-date spending, by department, that has
been, or is expected to be, reimbursed by the CARES Act via our municipal allocation and by FEMA.
FY2021, Quarter 4 Budget Status Report 4
Quarterly Spending of CARES/FEMA Funding by Department
Department FY2020 FY2021 -Q1 FY2021 -Q2 FY2021 -Q3 FY2021 -Q4 Total
Facilities $ 35,079 $ 80,522 $ 165,362 $ 225,992 $ 170,553 $ 677,508
Fire $ 105 $ 27,954 $ 164,946 $ 74,810 $ 267,814
IT $ 46,585 $ 13,404 $ 28,443 $ 128,087 $ 54,527 $ 271,046
Schools, Inc. MM $ 807,153 $ 65,840 $ 67,325 $ 266,930 $ (598,911) $ 608,338
Other Depts. $ 73,676 $ 195,643 $ 104,120 $ 113,684 $ 13,142 $ 500,265
Total $ 962,598 $ 355,409 $ 393,204 $ 899,639 $ (285,879) $ 2,324,971
Plus FY2022 Expenses & Encumbrances $ 241,443
Total Committed $ 2,566,414
CARES Funding Available $ 2,979,363
Remaining Balance $ 412,949
Approved FEMA Reimbursement $ 422,527
Projected FEMA Reimbursement(Including School Testing Program) $ 458,304
Total Anticipated FEMA Funding $ 880,831
In March 2021, the Federal government passed theAmerican Rescue Plan Act (ARPA). ARPA has made
a significant amount of new funding ($9,903,381) available directly to the Town of Lexington. The federal
government has indicated the primary objectives and broad categories of eligible expenses for this
funding including:
• Support for government services in the form of revenue replacement
• General pandemic response including public health expenditures, assistance to households, small
businesses, non profits, and aid for impacted industries including travel, tourism and hospitality
• Addressing the unequal public health and economic impact of the pandemic has had on certain
populations
• Premium pay for eligible essential workers
• Investment in water, sewer and broadband infrastructure.
The school department will receive and additional $1,202,445 in funding through ARPA in the form of an
ESSER III grant to offset the continued impact of the pandemic on schools. Many other pools of ARPA
funding are available on a grant basis for a variety of purposes including health, public safety,
transportation, and direct aid for economically disadvantaged households and small businesses. Town
staff is developing plans and recommendations for allocating the ARPAfunds which will be presented to
the Select Board, other stakeholder committees and the public in the coming months.ARPA fund are
available for spending through December 31, 2024.
FY2021, Quarter 4 Budget Status Report 5
Enterprise Fund Revenue Collections
As of June 30, 2021, 114.8% or$28,543,486 of total estimated revenue for FY2021 ($24,853,846) had
been col lected.
A breakdown of Enterprise Fund Revenue, by fund, is shown below:
Summary of Revenue Collections - Enterprise Funds
(A) (6) (A-B) (B/A)
FY2021 Percent
Estimates* Collections Uncollected Collected
Water
User Charges $ 11,414,329 $ 13,560,393 $ (2,146,064) 118.80%
Non-Rate Revenue $ 308,000 $ 347,875 $ (39,875) 112.95%
Retained Earnings $ $ $ %
Total Water $ 11,722,329 $ 13,908,268 $ (2,185,939) 118.65%
Sewer
Charges for Services $ 10,401,319 $ 10,763,060 $ (361,741) 103.48%
Non-Rate Revenue $ 362,000 $ 398,183 $ (36,183) 110.00%
Retained Earnings $ $ $ %
Total Sewer $ 10,763,319 $ 11,161,243 $ (397,924) 103.70%
Recreation and Community Programs
Recreation Fees $ 464,036 $ 1,062,285 $ (598,249) 228.92%
Community Center Fees $ 153,135 $ 252,313 $ (99,178) 164.76%
Golf User Charges $ 757,111 $ 1,162,256 $ (405,145) 153.51%
Non-Fee Revenues $ $ 3,206 $ (3,206) %
Transfer from General Fund $ 618,916 $ 618,916 $ 100.00%
Retained Earnings $ 375,000 $ 375,000 $ 100.00%
Total Recreation/CP $ 2,368,198 $ 3,473,975 $ (1,105,777) 146.69%
Total Enterprise Fund Revenue $ 24,853,846 $ 28,543,486 $ (3,689,640) 114.85%
*Inclusive of revenue to fund indirect costs.
Explanation of Significant Variances -
1. Water/Sewer- Both Water and Sewer enterprises generated revenues higher than budget with Water
revenues being particularly strong. Higher water usage was primarily due to excess irrigation during
the summer of 2020.
2. Recreation - Going into FY2021, Recreation and Community Programs dramatically reduced their
revenue projections in anticipation of program cancellations and closures due to COVID-19. Actual
results for FY2021 were significantly better than the adjusted targets, with Golf Course revenue being
a highlight. Many other programs came in higher than originally expected including aquatics, field
permits, camps and clinics, and tennis/ pickleball.
FY2021, Quarter 4 Budget Status Report 6
Enterprise Fund Expenditures
As of June 30, 97.5% of the FY2021 Enterprise Fund budgets of$24,467,540 has been expended and
98.4% has been expended or encumbered, leaving $391,059 of the budget available.
A breakdown of the Enterprise Fund Operating Budgets is shown below:
Summary of Operating Expenditures - Enterprise Funds
(A) (B) (C) (D) (B+C)/A (B/A)
Revised % Used % Used
Budget* Expenditures Encumbered Available (Exp. & Enc.) (Exp. Only)
Water $ 11,522,329 $ 11,418,792 $ 97,570 $ 5,967 99.95% 99.10%
Sewer $ 10,663,319 $ 10,419,912 $ 73,529 $ 169,879 98.41% 97.72%
Recreation/CP $ 2,281,892 $ 2,016,302 $ 50,376 $ 215,214 90.57% 88.36%
Total $ 24,467,540 $ 23,855,006 $ 221,475 $ 391,059 98.40% 97.50%
*Exclusive of indirect costs;incorporates$1.36 million in Enterprise budget reductions approved at Special Town Meeting 2020-3.
Explanation of Significant Variances
1. Water/Sewer- none.
2. Recreation/CP - For FY2021 Recreation and Community Program adjusted their spending levels to
remain in line with reduced revenues and lower demand for in-person programming.
FY2021, Quarter 4 Budget Status Report 7
Revolving Fund Revenues and Expenditures
This report reflects a quarter-end snapshot of Revolving Funds. Generally, these funds maintain a
balance from year to year, and generate revenue during the year that covers expenses. Revolving Funds
cannot spend more than they have in available revenue, and have an annual spending limit set by Town
Meeting. For FY2021 there are 12 active revolving funds, listed below.
In the second half of FY2020 and all of FY2021 several of the Town's revolving funds experienced
significant reductions in operations which had a negative impact on revenue, in particular the Visitors
Center, Liberty Ride and School Bus Transportation funds. Management closely monitored these
revolving funds and took steps where necessary to reduce operating losses. The Town anticipates that
ARPA funds may be utilized to support these operations in future periods.
A B C D E
YTD YTD
Beginning Revenue- Spending - Current
Fund June 30, June 30, Encumb- Balance FY2021
Revolving Fund Department Balance 2021 2021 ered (A+B-C-D) Authorization
School Bus Schools $ 465,025 $ 552,073 $ 295,684 $ 19,773 $ 701,641 $ 1,150,000
Transportation
Building Rental Facilities $ 404,878 $ 32,591 $ 114,231 $ - $ 323,238 $ 560,000
Revolving Fund
DPW Burial Containers Public Works $ 261,783 $ 35,680 $ 20,315 $ 1,500 $ 275,648 $ 50,000
Lexington Tree Fund Public Works $ 175,437 $ 54,120 $ 23,450 $ - $ 206,107 $ 45,000
DPW Compost Public Works $ 598,365 $ 804,309 $ 844,534 $ 20,940 $ 537,200 $ 870,000
Operations
Minuteman Household
Hazardous Waste Public Works $ 59,424 $ 206,854 $ 202,197 $ 53,252 $ 10,830 $ 250,000
Program
Regional Cache- Public Works $ 24,616 $ 9,248 $ 1,883 $ - $ 31,981 $ 20,000
Hartwell Avenue
Senior Services Human � 42,438 $ 8,151 $ 6,469 $ - $ 44,121 $ 75,000
Program Services
Residential Land Use $ - $ - $ - $ - $ - $ 57,600
Engineering Review
Health Programs Land Use $ 72,475 $ 21,342 $ 26,531 $ 821 $ 66,465 $ 45,000
Tourism/Liberty Ride Land Use $ (4,195 $ 790 $ - $ - $ (3,404 $ 200,000
Visitors Center Land Use $ (11,686 $ 74,242 $ 59,470 $ - $ 3,086 $ 205,000
Items of note -
• School Bus Transportation -The combination of hybrid learning and pandemic restrictions
dramatically decreased revenues for school bus transportation in FY2021; however, we were
obligated to contractual expenses and incurred additional cleaning expenses.Additional cleaning
expenses were covered by Federal Aid and are not reflected in the revolving fund. Much of the
FY2021 bus expenses were shifted to the school's operating budget to close the fund deficit prior
to year-end, with the remaining fund balance representing prepaid fees for FY2022.
• Tourism/Liberty Ride -The Liberty Ride did not operate throughout FY2021 due to the pandemic.
Operations resumed on a limited basis in July of 2021 and ridership and revenue are expected to
pick back up in Fall of 2021 during peak tourist season.
• Visitors' Center- Due to the pandemic and slow winter season, the Visitors' Center temporarily
closed from January through March, and reopened in April 2021. The Economic Development
budget had built-in support of$69,000 that was used to offset expenses, and the Visitors' Center
ended the year with a positive fund balance. Staff will continue to closely monitor operations with
our new building and enhanced offerings, and revenue is expected to pick back up in FY2022.
FY2021, Quarter 4 Budget Status Report 8
FY2021 4th Quarter General Fund Revenue Report
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10004110 411021 21 PERSONAL PROPERTY TAX $ 6,508,069 $ 6,431,856 $ 76,212 98.83%
10004110 Prior Years Personal Property Tax $ 64,510 $ 64,510 -%
TOTAL PERSONAL PROPERTY$ 6,508,069 $ 6,496,367 $ 11,702 99.82%
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10004120 412021 21 REAL ESTATE TAX $200,506,641 $ 198,296,009 $ 2,210,632 98.90%
10004120 412020 20 REAL ESTATE TAX $ 1,423,602 $ (1,423,602) -%
10004120 412019 19 REAL ESTATE TAX $ 28,185 $ (28,185) -%
10004120 Prior Years Real Estate Tax $ (681,155) $ 681,155 -%
10004120 413000 DEFERRED TAXES $ 152,337 $ (152,337) -%
10004199 414200 TAX LIENS/TITLES REDEEMED $ 211,240 $ 211,240 -%
TOTAL REAL ESTATE $200,506,641 $ 199,430,217 $ 1,076,424 99.46%
TOTAL PROPERTY TAX $207,014,710 $205,926,584 $ 1,088,126 99.47%
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10004600 462020 CH 70 SCHOOLAID $ 14,438,034 $ 14,438,034 $ - 100.00%
10004600 462070 CHARTER SCHOOL ASSESSMENT $ 80,755 $ 60,652 $ 20,103 75.11%
10004600 466010 VETERANS BENEFITS CH 115 $ 37,498 $ 18,904 $ 18,594 50.41%
10004600 466020 UNDESIGNATED GENERAL GOVT AID $ 1,627,400 $ 1,627,400 $ - 100.00%
10004600 461020 EXEMPTIONS-VET,BLIND,ELD,SURV $ 87,191 $ 12,550 $ 74,641 14.39%
TOTAL CHERRY SHEET $ 16,270,878 $ 16,157,540 $ 113,338 99.30%
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10004150 415021 21 MVE TAX $ 5,391,573 $ 4,544,913 $ 846,660 84.30%
10004150 415020 20 MVE TAX $ 758,643 $ (758,643) -%
10004150 415019 19 MVE TAX $ 20,914 $ (20,914) -%
10004150 Prior Years Motor Vehicle Excise $ 10,659 $ 10,659 -%
TOTAL MOTOR VEHICLE EXCISE $ 5,391,573 $ 5,335,129 $ 56,444 98.95%
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10004191 419000 OTHER EXCISE- HOTEL/MOTEL $ 242,500 $ 356,743 $ (114,243) 147.11%
10004199 419010 OTHER EXCISE-JET FUEL $ 50,000 $ 152,253 $ (102,253) 304.51%
10004199 419020 OTH E R EXC I S E- M EALS TAX $ 119,500 $ 304,647 $ 185,147 254.93%
TOTAL OTHER EXCISE $ 412,000 $ 813,643 $ (401,643) 197.49%
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10004179 417010 PEN &INT PP TAX $ 10,500 $ 12,494 $ (1,994) 118.99%
10004179 417020 PEN &INT RE TAX $ 222,000 $ 291,465 $ (69,465) 131.29%
10004179 417040 PEN &INT TAX LIENS $ 50,000 $ 37,277 $ 12,723 74.55%
10004179 417050 PEN &INT MVE TAX $ 59,000 $ 104,354 $ 45,354 176.87%
TOTAL PENALTIES AND INTERESTS $ 341,500 $ 445,590 $ (104,090) 130.48%
FY2021, Quarter 4 Budget Status Report 9
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10004180 418000 PAYMENT IN LIEU OF TAXES $ 683,000 $ 660,966 $ 22,034 96.77%
TOTAL PAYMENT IN LIEU OF TAXES(PILOTs) $ 683,000 $ 660,966 $ 22,034 96.77%
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10123437 437014 CELL TOWER REVENUE $ 352,133 $ 403,301 $ (51,168) 114.53%
10123437 436000 RENTALS OF TOWN BUILDINGS $ 41,142 $ 69,900 $ 28,758 169.90%
TOTAL RENTALS $ 393,275 $ 473,201 $ (79,926) 120.32%
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10300437 434000 TUITION $ - $ 10,942 $ (10,942) -%
10300437 432022 TRANSCRIPT FEES $ 30,000 $ 36,078 $ (6,078) 120.26%
10300480 484010 MEDICAID REIMBURSEMENT $ 50,000 $ 287,285 $ (237,285) 574.57%
10300437 432021 STUDENT PARKING FEES $ 8,500 $ 3,605 $ 4,895 42.41%
10300437 435100 HOMELESS STUDENT TRANSPORTATION $ - $ - $ - -%
TOTAL DEPARTMENTAL-SCHOOLS $ 88,500 $ 337,909 $ (249,409) 381.82%
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10220420 427201 FIRE DEPT REC-AMBULANCE FEES $ 1,280,000 $ 1,157,735 $ 122,266 90.45%
10220420 427202 FIRE DEPT REC-FIRE ALARM FEES $ 13,675 $ 10,095 $ 3,580 73.82%
10210420 427203 POLICE DEPT REC-HOUSE ALARMS $ 12,000 $ 7,720 $ 4,280 64.33%
10123437 432001 PUBLIC RECORDS REQUEST FEE $ - $ 104 $ (104) -%
10145437 432002 CERTIFICATE OF REDEMPTION $ 100 $ 92 $ 8 92.00%
10145437 432003 MUNICIPAL LIEN CERTIFICATES $ 32,000 $ 42,645 $ (10,645) 133.27%
10294437 432004 PROTECTED TREE FEES $ 7,500 $ 690 $ 6,810 9.20%
10411437 432006 FEES FOR ENGINEERING SERVICES $ 50 $ (2,000) $ 2,050 (4000.00)°/
10184437 432009 BATTLE GREEN CHARTERS $ 500 $ - $ 500 -%
10489420 424051 LEXPRESS FARES $ 30,000 $ 9,506 $ 20,494 31.69%
10220437 432000 FIRE FEE-CERT OF COMPLIANCE $ 20,000 $ 37,300 $ (17,300) 186.50%
10161437 432000 TOWN CLERK FEE $ 35,900 $ 36,943 $ (1,043) 102.90%
10210437 432000 POLICE DEPT FEE $ 85,000 $ 70,286 $ 14,714 82.69%
10161437 432011 REGISTRY SURCHARGE FEE $ 10,000 $ 10,020 $ (20) 100.20%
10420437 432000 DPW FEES FOR SERVICE $ 150 $ 114 $ 36 76.00%
10175437 432012 P.B. FILING&REVIEW FEES $ 10,000 $ 24,000 $ (14,000) 240.00%
10241437 432013 B&Z MICROFILM FEES $ 6,000 $ 9,470 $ (3,470) 157.83%
10241437 432014 B.O.A. HEARING FEES $ 3,000 $ 12,752 $ (9,752) 425.07%
10175437 432015 ANR PLAN FILING FEES $ 10,000 $ 9,000 $ 1,000 90.00%
10161437 432016 RENTAL CAR SURCHARGE FEES $ 3,000 $ 1,199 $ 1,801 39.96%
10171437 432000 CONSERVATION FEES $ 38,000 $ 27,353 $ 10,647 71.98%
10491437 437403 CEMETERY PREPARATION $ 180,000 $ 164,198 $ 15,802 91.22%
10491482 482400 CEMETERY INTERESTALLOCATION $ 50,000 $ 72,925 $ (22,925) 145.85%
10123437 432000 MISC. FEES $ 9,500 $ 7,266 $ 2,234 76.48%
10220420 427204 AVALON BAY MONITORING SERVICES $ 9,650 $ 5,850 $ 3,800 60.62%
10241437 432025 TRENCH PERMIT FEES $ 6,500 $ 6,700 $ (200) 103.08%
10123437 437016 NET METERING CREDIT REVENUE $ 670,000 $ 674,298 $ 4,298 100.64%
TOTAL CHARGES FOR SERVICES $ 2,522,525 $ 2,396,261 $ 126,264 94.99%
FY2021, Quarter 4 Budget Status Report 10
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10161440 441000 ALCOHOL&BEVERAGE LIC $ 60,000 $ 67,250 $ (7,250) 112.08%
10241440 445001 BUILDING PERMITS $ 1,300,000 $ 2,564,055 $ (1,264,055) 197.24%
10241440 445002 GAS PERMITS $ 28,200 $ 24,795 $ 3,405 87.93%
10241440 445003 WIRING PERMITS $ 200,000 $ 371,267 $ (171,267) 185.63%
10241440 445004 PLUMBING PERMITS $ 112,000 $ 77,554 $ 34,446 69.24%
10241440 445005 SHEET METAL PERMITS $ 2,000 $ 34,968 $ (32,968) 1748.40%
10241440 445007 MECHANICAL PERMITS $ 25,000 $ 83,668 $ (58,668) 334.67%
10122440 442000 SELECTMAN'S LIC. &PERMITS $ 2,500 $ 3,560 $ (1,060) 142.40%
10512440 445009 BOARD OF HEALTH LIC&PERMITS $ 22,500 $ 51,912 $ (29,412) 230.72%
10220440 445010 FIRE DEPT LIC. &PERMITS $ 45,000 $ 55,120 $ (10,120) 122.49%
10241440 445011 B&Z MISC PERMITS $ 8,000 $ 5,465 $ 2,535 68.31%
10123440 442001 CABLE FRANCHISE LICENSE $ 6,000 $ 3,715 $ 2,285 61.92%
10210440 442002 FIREARMS LICENSE $ 2,800 $ 5,100 $ (2,300) 182.14%
10161440 442000 TOWN CLERK'S LIC&PERMITS $ 40,000 $ 46,366 $ (6,366) 115.92%
10420440 445012 DPW STREET OPENING PERMITS $ 48,750 $ 143,375 $ (94,625) 294.10%
10420440 445013 RIGHT OF WAY OBSTRUCTION $ 100 $ 150 $ (50) 150.00%
10420440 445014 STORM WATER/DRAIN PERMIT $ 2,000 $ 660 $ 1,340 33.00%
10420440 442003 DRAIN LAYERS LICENSE $ 1,250 $ 990 $ 260 79.20%
10171440 442000 MISC. LICENSE&PERMITS $ 500 $ 4,943 $ 4,443 988.68%
TOTAL LICENSE&PERM ITS $ 1,906,600 $ 3,544,914 $ (1,638,314) 185.93%
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10004750 475001 STREET BETTERMENT $ 14,368 $ 24,187 $ 9,819 168.34%
TOTAL SPECIAL ASSESSMENTS $ 14,368 $ 24,187 $ (9,819) 168.34%
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10004695 468000 CO U RT F I N ES $ 2,000 $ 643 $ 1,358 32.13%
10213477 477000 PARKING FINES $ 31,500 $ 11,640 $ 19,860 36.95%
10161477 477010 NON CRIMINAL FINES $ 5,000 $ 940 $ 4,060 18.80%
10213477 477020 REGISTRY CMVI $ 62,500 $ 46,598 $ 15,902 74.56%
TOTAL FINES& FORFEITURES $ 101,000 $ 59,820 $ 41,180 59.23%
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10145482 482000 INT EARNED ON SAVINGS $ 250,000 $ 277,170 $ 27,170 110.87%
TOTAL INVESTMENT INCOME $ 250,000 $ 277,170 $ (27,170) 110.87%
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10123480 480010 MISC NON-RECURRING REVENUE $ - $ 733,154 $ (733,154) -%
10004580 458000 FED REV THRU STATE-MISC $ - $ 9,617 $ (9,617) -%
10004600 468000 MISC. STATE REVENUE $ - $ 31,722 $ (31,722) -%
10145437 433000 SUPPLEMENTAL BILLING $ - $ 213,324 $ 213,324 -%
FY2021, Quarter 4 Budget Status Report 11
TOTAL MISC NON-RECURRING REVENUE REVENUE $ — $ 987,817 $ (987,817) —%
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10990497 497200 TRANSFERS FROM OTHER SPEC REV $ 1,516,098 $ 1,516,098 $ — 100.00%
10990497 497500 TRANSFERS FROM ENT FUNDS $ 1,749,435 $ 1,749,435 $ — 100.00%
10990497 497600 TRANSFER FROM TRUST FUNDS $ 5,855,537 $ 5,855,537 $ — 100.00%
TOTAL INTERFUND OPERATING TRANSFERS $ 9,121,070 $ 9,121,070 $ — 100.00%
GRAND TOTAL GENERAL FUND REVENUE $244,510,999 $246,561,802 $ (2,050,804) 100.84%
TOTAL ENTERPRISE FUND REVENUE $ 24,853,846 $ 28,543,486 $ (3,689,640) 114.85%
GRAND TOTAL REVENUE $269,364,845 $275,105,289 $ (5,740,444) 102.13%
FY2021 4th Quarter Enterprise Funds Revenue Report
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71004200 421000 WATER USER CHARGES $ 11,414,329 $ 13,560,393 $ (2,146,064) 118.80%
WATER NON-RATE REVENUE $ 308,000 $ 347,875 $ (39,875) 112.95%
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70004200 421000 SEWER USER CHARGES $ 10,401,319 $ 10,763,060 $ (361,741) 103.48%
SEWER NON-RATE REVENUE $ 362,000 $ 398,183 $ (36,183) 110.00%
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TOTAL SEWER $ 10,763,319 $ 11,161,243 $ (397,924) 103.70%
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72004200 424020 RECREATION USER CHARGES $ 464,036 $ 1,062,335 $ (598,299) 228.93%
72004200 424030 CO M M U N I TY CTR REVE N U E $ 153,135 $ 252,313 $ (99,178) 164.76%
72004200 424040 GOLF USER CHARGES $ 757,111 $ 1,162,256 $ (405,145) 153.51%
72004200 482000 INT EARNED ON SAVINGS $ — $ 3,206 $ (3,206) —%
72004990 497100 TRANSFER FROM GENERAL FUND $ 618,916 $ 618,916 $ — 100.00%
RETAINED EARNINGS $ 375,000 $ 375,000 $ — 100.00%
TOTAL RECREATION $ 2,368,198 $ 3,474,025 $ (1,105,827) 146.69%
TOTAL ENTERPRISE FUNDS REVENUE $ 24,853,846 $ 28,543,536 $ (3,689,690) 114.85%
FY2021, Quarter 4 Budget Status Report 12
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James J. Malloy, Town Manager Tel: (781) 698-4540
Kelly E. Axtell, Deputy Town Manager Fax: (781) 861-2921
September 22, 2021
Capital Stabilization Fundin�Framework
Pu ose:
Over the past decade, the Town of Lexington has made a practice of building its fiscal reserves,
including a Capital Stabilization Fund(CSF). Through judicious use of available funds, the Town has
gradually built up the balance in its stabilization funds, with particular emphasis on the CSF. Over the
past few years, the Town has tapped into the CSF to maintain Within Levy debt at a growth rate of 5%,
and to "shave the peak" of exempt debt proj ects so taxpayers do not see spikes in their property tax
bills. The Town has recently undertaken some large capital proj ects, including Hastings Elementary
School, the Lexington Children's Place and the Lexington Fire Headquarters. In the near-term, the
Town anticipates seeking funding for a new Police Station and a replacement for the Lexington High
School.
The practice of"shaving the peak"has worked well for prior projects; the CSF balance has been
sufficient to achieve the goal of minimizing taxpayer impact. However, the high school proj ect is
substantially more than any of the prior projects; initial estimates range from $350 to $500 million.
Town leaders seek a more long-term, financially sustainable funding mechanism to provide dedicated
funding for the CSF to ensure that larger capital projects and future debt service do not place an
unmanageable burden on taxpayers. The Select Board, Town Meeting members and others involved in
Town government have underscored the need for economic development proj ects to provide an
increased commercial tax revenue for the Town to offset the cost for some of these proj ects. This
framework formalizes that connection.
Fiscal Framework:
In recognition of the effort by the Town of Lexington to identify and attract opportunities for
commercial development, and of the significant need for capital proj ect funding, the amount of
additional incremental property tax revenue generated from new developments shall be dedicated and
annually appropriated to the Capital Stabilization Fund. Included developments are those Which go
through the Preliminary Site Development and Use Plan (PSDUP)process and have an approved
proj ect Memorandum of Understanding to create a Planned Development District; as well as those
developed through the zoning changes approved at the 2020 Special Annual Town Meeting for the at
Hartwell Avenue area(including Bedford Street immediately adj acent to Hartwell).
Additional property tax revenue is typically captured as part of"New Growth,"Which is the increase in
the tax levy due to the increase in assessed value of a property pre- and post-development. In order to
1625 MASSACHUSETTS AVENUE•LEXINGTON,MASSACHUSETTS 02420
implement this funding strategy, the amount of New Growth due to the targeted developments shall be
identified by the Assessors' Office and set-aside from the normal budget development process. Each
year as part of the budget development process,the Town Manager shall detail the amounts that fall
under this framework and recommend to the Select Board, School Committee, Capital Expenditures
Committee and Appropriation Committee the new amounts to set-aside. This new revenue will not be
allocated between the Town and School departments via the Revenue Allocation Model. It is
anticipated that those amounts shall continue to be set aside for deposit into the CSF until debt service
for the high school starts to come due. At that point we will begin withdrawing a corresponding
amount from the CSF to fund Exempt Debt service,primarily to offset the tax increase for the high
school.
An example of how this would be implemented as part of the upcoming FY2023 budget follows:
Reflecting a Partial Dedication of New Growth to CSF in Budget Going Forward
FY2023�urrent Budget Fresen�ation-Tax Levy FY2022-23 Change
_ _.....................................................................__.................................................................�.................................................................................................................................................................................................................................................................................._........................................_
FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 � %
Actual Actual Actual Actual Actual Re ca Pro e cte d
������� P__ .�__________________________.. ..................... ........... ........
Table 1:Pro ert Tax Lev
Tax Levy $154,781,455 $161,960,336 $169,402,066 $176,90�,123 $184,938,304 $194,415,314 $203,275,697 $ 8,860,383 4.56%
Prop.2.5% $ 3,869,536 $ 4,049,008 $ 4,235,052 $ 4,422,678 $ 4,623,458 $ 4,860,383 $ 5,081,$92 $ 221,510 4.56%
New Growth $ 3,309,344 $ 3,357,135 $ 3,270,005 $ 3,608,503 $ 4,853,553 $ 4,000,000 $ 2,750,000 $(1,250,000) -31.25%
Override/Fxcess Levy Capa $ (94,519) $ (34,354) $ (66,069) $ (116,791) $ (85,435 $ - N�A
Subtotal $161,865,816 $169,332,125 $176,841,054 $184,821,513 $194,329,879 $203,275,697 $211,107,589 $ 7,831,892 3.85%
,,,,,,,,,,,,,,,,,,,,,, ,,,,,,,,,,, ,,,,,,,,,,,, ,
,,,,
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FY2022 23 Chan e
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,
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FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 � o�o
Actual ; Actual Actual � Actual Actual Re ca Pro'e cte d
,, _ .. , .. �.. J , ,,
Table 1:Pro ert Tax Lev
Tax Levy $154,781,455 $161,960,336 $169,402,066 $176,907,123 $184,938,304 $194,415,314 $203,253,537 $ 8,838,223 4.55%
Prop.2.5% $ 3,869,536 $ 4,049,008 $ 4,235,052 $ 4,422,678 $ 4,623,458 $ 4,860,383 $ 5,0$1,892 $ 221,510 4.56%
New Growth $ 3,309,344 $ 3,357,135 $ 3,270,005 $ 3,608,503 $ 4,853,553 $ 3,977,840 $ 2,750,000 $(1,227,840) -30.87%
Override/Excess Levy Capa $ (94,519) $ (34,354) $ 66,069 $ (116,791) $ (85,435) � - NA
Subtotal $161,865,816 $169,332,125 $1�6,841,054 $1$4,821,513 $194,329,8�9 $203,253,53� $211,085,429 $ �,831,892 3.85%
Table lA:Pro ert Tax Lev Dedicated to Ca ital Stabilization Fund
1050 Waltham St. $ - $ - $ - 0.00%
186 Bedford St. $ 7,195 $ 7,195 $ - 0.00%
55 Watertown St. $ 14,965 $ 14,965 $ - 0.00%
Subtotal-C SF Tax Lev� $ - $ - $ - $ - $ - $ 22,160 $ 22,160 $ - 0.00°/o
Subtotal-All Tax Levy $161,865,816 $169,332,125 $176,841,054 $184,821,513 $194,329,879 $203,275,697 $2ll,107,589 $ 7,831,892 3.85%
FY2024 Revised Budget Presentation-Tax Levy FY2023-24 Change
., , . . . . , ,.
FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 � %
Actual ; Actual Actual Actual Actual Re cap Pro je cte d
Table 1:Pro ert Tax Lev
Tax Levy $161,960,336 $169,402,066 $1�6,90�,123 $184,938,304 $194,415,314 �203,253,53� $211,131,250 $ �,8�7,�13 3.88%
Prop.2.5% $ 4,049,008 $ 4,235,052 $ 4,422,678 $ 4,623,458 $ 4,860,383 $ 5,127,713 $ 5,324,655 $ 196,943 3.84%
New Growth $ 3,35�,135 $ 3,2�0,005 $ 3,608,503 $ 4,853,553 $ 3,9�7,840 $ 2,�50,000 $ 2,�50,000 $ - 0.00%
Override/F�cess Levy Capa $ (34,354 $ (66,069) $ (116,�91) $ (85,435) $ - $ - NA
Subtotal $169,332,125 $176,841,054 $184,821,513 $194,329,879 $203,253,537 $211,131,250 $219,205,905 $ 8,074,655 3.82%
Table lA:Pro ert Tax Lev Dedicated to Ca ital Stabilization Fund
1050 Waltham St. $ - $ 1,000,000 $ 1,000,000 $ - 0.00%
186 Bedford St. $ �,195 $ 90,000 $ 90,000 $ - 0.00%
55 Watertown St. $ 14,965 $ 764,965 $ 764,965 $ - 0.00%
Subtotal-CSF Tax Levy $ - $ - $ - $ - $ 22,160 $ 1,854,965 $ 1,854,965 $ - 0.00%
Subtotal-All Tax Levy $169,332,125 $176,841,054 $184,821,513 $194,329,879 $203,275,697 $212,986,215 $221,060,870 $ 8,074,655 3.79%
In this example, the green section reflects the status quo. Early indications are that FY2022 New
Growth, certified as of June 30, 2021, will be in excess of$4,000,000,primarily due to commercial
developments at 75 Hayden Ave. and 20 Maguire Rd. The full amount of the FY2022 New Growth is
incorporated into the base for FY2023, and further increased by 2.5% in future years.
The blue section reflects the first year of the proposed policy change. Table 1 A is added to the budget
revenue tables to separate the New Clrowth attributed to the commercial developments under this
policy. Because these projects are still heavily under construction, there will be minimal New Growth
for them as of June 30, 2021. For FY2022, this illustration shows a total of$22,160 in Table lA, and
the Table 1 New Growth of$4,000,000 has a corresponding decrease of$22,160 for a revised total of
$3,977,840. For FY2023 budget projections, Table 1 reflects the Prop 2.5% increase for both the base
tax levy and the dedicated new growth from prior year. The full amount of proj ected FY2023 New
Crowth is attributed to the base budget.
The orange section anticipates how the second year of implementatlon would work. Each year New
Growth is captured incrementally, as of the certification date,based on a project's completion status.
Each property in Table 1 A is expected to have a considerable amount of additlonal new growth as of
the June 30, 2022 certification(FY2023 Nevc�Growth), which is added to the FY2022 New Growth.
This same exercise would be repeated in subsequent years, with incremental New Growth being set
aside each year and continuing to accumulate into the Capital Stabilization Fund to pay for future
capital proj ects.
Effect of Fiscal Framework:
This policy will provide transparency for the Town's goal of tying economic development efforts to
providing tax relief to existing tax payers. The new tax dollars set-aside from these commercial
developments will provide an ongoing, sustainable funding source to offset a significant portion of
larger capital needs and future excluded debt service.
For example, once New Growth has been fully realized for the three initial proj ects already in process,
(whlch would be recognized in the 2025 Budget Presentation/2024 Tax Recap) it is anticipated that the
total annual appropriation into the Capital Stabilization Fund would be approximately $2,390,000.
This does not include future proj ects on the Hartwell corridor which may begin to ramp up due to
recent zoning changes.
Anticipated New Growth Subject to this Policy
Development Address Estimated New
Growth
Greatland Realty—Revolution Labs 1050 Waltham St. $1,250,000
Beacon Point Development 186 Bedford St. $90,000
National Development—Waterstone/Bridges 55 Watertown St. $1,050,000
TBD Hartwell Avenue TBD
Subtotal $2,390,000
Additional Considerations:
In addition to revenue from new developments, oth�r potential transfers that can be made on a
sustainable basis into the Capital Stabilization Fund may be recommended as part of the annual budget
development process.
Executing this model will be dependent on the regular New Growth(i.e. not from designated
commercial developments) meeting the budgeted targets, as regular new growth supports the Town's
operating budget. If in any particular year New Growth for operations does not come in at the
budgeted level, it may necessitate pausing on the transfer into the Capital Stabilization Fund. During
the period in which this funding is set-aside the Town should expect modest operating increases, as
extraordinary new revenue will be set aside.
This framework will require calling a Special Town Meeting each fall to true-up the actual amounts of
new growth recognized compared to the budgeted amounts, and appropriate any additional amount into
the Capital Stabilization Fund before setting the tax rate.
Staff expects that the New Growth from these developments will continue to be set aside to cover debt
service until otherwise decided by policy makers. It is recommended that this practice be reviewed and
reaffirmed annually, along with other budgeting guidelines.
EXHIBIT 1
Potential Impact on Capital Stabilization Funding and Exempt Debt Service
Capital Stabilization Fund
Appropriations Anticipated Anticipated
and Interest Use of Capital Use of Capital
into the Dedicated Stabilization Stabilization
Capital Funding From Fund for Fund for
Stabilization Commercial Within �evy Excluded Ending
Fund New Growth Debt Debt Balance
FY2013 $1,601,835 $0 $0 $1,601,835
FY2014 $3,988,868 $0 ($1,600,000) $3,990,703
FY2015 $5,926,762 ($919,000) ($950,000) $8,048,465
FY2016 $9,513,048 ($215,000) ($620,567) $16,725,946
FY2017 $7,187,263 $0 ($710,000) $23,203,209
FY2018 $8,119,224 ($324,500) ($2,400,000) $28,597,933
FY2019 $4,203,280 ($573,500) ($4,500,000) $27,727,713
FY2020 $2,�01,S41 $0 ($S,200,000) $2S,229,2S4
FY2021 $44,804 $0 ($4,600,000) $20,674,058
FY2022 (proj.) $3,217,674 $22,150 $0 ($2,800,000) $21,113,892
FY2023 (est.) $0 �1,854,965 ($2�0,000) ($1,700,000) $20,998,857
FY2024(est.) $0 $2,390,000 ($1,596,000) $0 $21,792,857
FY2025 (est.) $0 $3,000,000 ($1,436,000) $0 $23,356,857
FY2026 (est.) $0 �3,750,Q00 ($1,050,000) $0 $26,056,857
FY2027 (est.) $0 $4,50Q,000 ($822,000) $0 $29,734,857
FY2028 (est.) $0 $5,250,OQ0 ($602,000) ($10,000,000) $24,382,857
FY2029 (est.) $0 �5,250,Q00 $0 ($7,500,000) $22,132,857
FY2030(est.) $0 $5,250,000 $0 ($6,000,000) $21,382,8S�
FY2031 (est.) $0 �5,250,000 $0 ($5,250,000) $21,382,857
FY2032 (est.) $o �s,2�o,000 $o �$s,25o,000� $z1,3g2,ss�
FY2033 (est.) $0 $5,250,000 $0 ($5,250,000) $21,382,85�
FY2034(est.) $0 $5,250,000 $0 ($5,250,000) $21,382,857
FY2035 (est.) $0 $5,250,000 $0 ($5,250,000) $21,382,857
FY2036 (est.) $0 $5,25Q,Q00 $0 ($5,250,000) $21,382,857
Notes: (1) This table highlights dedicated New Growth being appropriated into the CSF; more will
likely be dedicated annually from other one-time sources,but for illustrative purposes that is shown as
zero. (2) The timing and of withdrawals from CSF to pay for Exempt Debt Service will depend on
multiple factors that are unknown at this time, including the proj ect schedule and total proj ect cost.
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Special Town Meetin�2021-1
A. ToWn Reports
Financial Articles
6. Appropriate for Prior Year Unpaid Bills
C. Appropriate To/From Stabilization Funds
D. Rescind prior borrowing
E. Amend FY 2022 Operating and Enterprise budgets
a. Management analyst
F. Appropriate for Community Preservation Projects(placeholder)
a. Recreation- Sutherland Park Playground
b. Conservation-Parker Meadow
c. Recreation Old Res Bathhouse (tentative change of purpose)
G. Appropriate for Police Station Swing space (173 Bedford St-temporary construction and
architectural design for 1575 Massachusetts Ave)
H. Westview Cemetery
I. Center Recreation Restrooms& Storage(Tax Levy)—was IP'd during 2021 Spring Town
meeting($915,000), (Rec Com).
J. School bus contracts
K. Residential Parcel (20-172,off 78 Cliffe Ave)
a. Resident wishes to potentially buy a piece of town-owned land
L. Climate Action plan$85k total
a. In 2018 the Town published a getting to net zero roadmap, an important step in the right
direction to update and implement our communities goals for reaching sustainable
obj ectives including reduction of emissions laid out in the Sustainable Action Plan. The
budget from that proj ect has a remaining balance which will be re-appropriate in the FY
22 budget amendment article preceding this one. The Climate Action Planning is the next
step in putting together the Climate Action plan and will use extensive, inclusive, and
creative outreach.
General Articles
M. Mount Independence Historical District(Historic Districts Commission)
N. Easement for Town of Burlington
a. Work that has to be done on waterline. IMA has already been signed, Town of Lexington
has to grant the easement for work to begin.
O. Reducing Noise from Landscape Maintenance Equipment(Noise Committee)
a. This article proposes revisions to the Noise Bylaw to better protect residents from noise pollution
caused by motorized landscape maintenance equipment.
09/22/2021 1
Zoning Articles
P. Diversity, Inclusion,Equity
a. Amend the Zoning Bylaw to revise permitting criteria to address racial, disability, and
other equity impacts; clarify site plan review criteria; add a definition of household
replacing the definition of family;permit more than one individual in rooming units; or
act in any other manner in relation thereto. This article would incorporate a variety of
changes in response to the Systemic Racism Resolution adopted under Article 8 of
Special Town Meeting 2020-2,the Full Inclusion Resolution adopted under Article 30 of
the 2021 Annual Town Meeting, and the site plan review changes adopted under Article
44 of the 2021 Annual Town Meeting.
Q. Walls
a. Amend the Zoning Bylaw to add a definition of"fence"; limit the height of fences and
retaining walls near lot boundaries;permit structures enabling access for disabled persons
anywhere on a lot;prohibit structures in yards which interfere with safe stopping sight
distance on a street; make the definition of"yard"consistent with other provisions of the
bylaw; or act in any other manner in relation thereto.
R. Solar Energy Systems (Small-scale residential in setbacks)
a. Amend the Zoning Bylaw to remove restrictions on, and streamline permitting for, solar
energy systems, or act in any other manner in relation thereto. This article would
encourage the construction of solar energy systems by permitting solar energy systems on
nonconforming lots and small-scale solar energy systems wherever other structures are
permitted and by streamlining permitting for small-scale solar energy systems.
S. Residential Parking
a. Amend the Zoning Bylaw to reduce residential parking requirements to allou�additional
residential units; or act in any other manner in relation thereto.This article would reduce
the amount of required parking for some residential uses to decrease the cost of housing
and encourage alternative means of transportation.
T. Open Space Residential Development(OSRD)
a. Amend the Zoning Bylaw to permit open space residential developments; allow increased
gross floor area in multi-family developments; or act in any other manner in relation
thereto. This article would permit open space residential developments, as de�ned under
the state Housing Choice law as codified at Massachusetts General Laws Chapter 40A,
Section lA. Open space residential developments would be subject to limits on gross
floor area and require the preservation of open land in its natural state and the provision
of affordable dwelling units. This amendment to the Zoning Bylaw would also provide
incentives to preserve historic buildings and require site plan review by the Planning
Board.
09/22/2021 2