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2024-11-20 Finance Summit III - Released
Financial Summit III Select Board, School Committee,Appropriation Committee, C apital E xpe nditure s C o mmitte e November 20, 2024 7:00 PM Conducted by Remote Participation� AGENDA ITEMS FOR INDIVIDUAL CONSIDERATION 1. F Y2026 F inancial Summit III • School Building Committee update • S up erintendent's Budget Drivers • FY2026 Revenue Projections • FY2026 Revenue Allocation Model • Update on C apital S tabilization Fund & Debt S ervic e Projections ADJOURN 1. Anticipated Adjour�lment 8:30pm Meeting Packet:https://lexington.novusagenda.com/agendapublic/ *Memb ers o f the p ub lic c an attend the meeting fro m their c o mp uter o r tab let b y c lic king o n the fo llo wing link at the time o f the meeting: https://lexingtonma.zoom.us/j/894878073 65?pwd=HzDhXbt�bCpXO Texj Dy3 Cy91 pRp S U.1 or Telephone: • �1 929 205 6099 US Webinar ID: 894 8780 7365 P asscode: 861649 An Act Relative to Extending Certain State of Emergency Accommodations: https://www.mass.gov/the- open-meeting-law 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, D ec emb er 9, 2024 at 6:30pm via hybrid participation. Hea�ing Assistance Devices Available on Request � . . . . � ' � ��, All agenda time and the o�de�of items ar�approximate and sub�ect to change. Recard�d by LexMedia AGENDA ITEM SUMMARY LEXINGTON BOARD OF SELECTMEN MEETING AGENDAITEM TITLE: FY2026 Financial Sun�mit III PRESENTER: ITEM NUMBER: Sub Item: • S chool Building C on�mittee update • Superintendent's Budget Drivers • FY2026 Revenue Proj ections • FY2026 Revenue Allocation Model • Update on Capital Stabilization Fund & Debt Service Projections S UMMARY: SUGGESTED MOTION: FOLLOW UP: DATE AND APPROXIMATE TIME ON AGENDA: 11/20/2024 ATTACHMENTS: Description Type � ����"��`��:..,�����:��i.��.���������i����������.:�.:��:��,.���������� ������������������,:��.� � ����������`������u�����.����������v���.��i.����������,:���� �:����;���i���������������� � ��������������i�������������������.�������:��.� ������������������,:��.� � ����������`��������u�����.����������v���.��i������,:��;�������.����.��:�.��� ������������������,:��.� � � - _ 3�� �� �� �� � � _ _ � ,&" �3��� �3�����_ � ��_ ��� ��� _ ������ �� � - _ � ...� � �� � � � � � �` � � ��� �� � � � - v - � - - a - _ - - � a � _ ` � .- ,...� s..:.-�,...� �� ���`'�. ���� ��� .... �. .�� ���. ..._ �a._. .. - .�� � � � � � � � �� �� -��`����� ��-�����'�� � ����3� ��� ti� ���� ��� � � ���� _ ��_� � � ` � �� � _� � ��� _ ��� ���� - � ' _ ��� � � � = j�� �_� � _ �� ,=_ ����� j � � _� _ � �� � � = � � �� �� � - �� � 3� - �� � � � �� t� __ �£��� �£�� _ _ �� � � ��-- � _ € a � � .. � _ � . � _ �s _ � � , _ _ ... .� � � _ � _ _ � -� s � �� _� ��--,-_` �� � ���.�aj_����_-:� ��� ...��� ,...� ..�.- ,...� ...�� ` �€ �, � _ � .. _ .. �� � .. � • • t1C1 ate utconr�es: � � c� _ _ �c - �- � - - � - c �c � � � � � ��� � � �_ - -� _ - _ � �_ � �_ � _ �� �_ �� � � -_ � � - � � � � � � � � � � � � � __ � �  � - �� _ - - �  �� _ - - �� _ � � _ � �� _ �_�� � �� - _ � - �� - _ � � � � � _ _ � _ _ _ _ �_ _ _ - - - - �� _ -- - � _ - � �� � - � �� � � - - -- _ _ � _ �� ��� � � � __ � -- - - -- � � - a � _ - � � � __ � -- _ � � - - _- _- -- ��� - �� � - --� _ � �� � - - �� � _ � - _ _ � ��- �� � � � �� _ � � �� _ � � �� - - � � � � _ - �� - - � � � - � �� � � • • i ��� _� ��� c ��� � � �������� � , � � _ � � ���� ���� �� � ����� , � � � �� ` - _ ���_ �� ���� � �� _ �� �� � ` =�� ' � �- �- � � � � � , � = - - _ � - - - � _ � �_ ; ����� _ = � = �_ _ ^ ^ v � - _ � � � � � � ,� The SBC firmly believes that B/oom represents the best path forward for the Lexington High Schoo/Building Project. This option balances educational exce//ence, fiscal responsibility, and community considerations, ensuring a bright future for Lexington students and the town as a who/e. We are confident that, together, we can make this vision a reality. = �� � - �� - �� x � • �� � ' ' ' ' ' ' ' ' ' ' ' ' �x��r���� �1�,���,�-z� �z1,a�-�,�-�o �zz,���-,�-�� �z�-,zz�,�a7 �z�,�z1,�-�� �z�,7�a,��� ��h��l ���r�ti r�� �1�Q,SQ�,3�7 �1�7,SQQ,319 �15�,�9Q,195 �1�2,Q37,7�2 �1�9,�22,Q70 �177,�3Q,1�1 �r�i ��r��fit� � Qt �r ���t� �0 �0 �0 �0 �0 �0 T�t�I ��h��I AI I���ti�r� �1�Q,SQ�,3�7 �1�7,SQQ,319 �15�,�9Q,195 �1�2,Q37,7�2 �1�9,�22,Q70 �177,�3Q,1�1 T�tal �l� �r��r�a�� 4s29��� �-s9��1� �-s�7�1� �-s75�1� 4s����� 4s�Q��� . � � � � . ! . • � � ! ! � . � � � . � • � ��������� uture u et ssunr� tlons - _ � � � � � � � � � � � � 9 s���aa��ua pu� sa��ddns a�npa� � (��o�g sa�a���s) suo���sod a�npa� � s�u�a� ��uo���pp� aan�as�s�u�a� az�ua�x�W � suo���as uaooass��� a��p��osuo� � (d��) suoi�inl � s�n� ua�a�oad � (s���alu�� `�u��a�d `snq) saa� � sasuadx� �u��npa� sanua�a� �u�s�a.��u� sasuadxa a�n aa ao sanuanaa as�aa�u�—d�� a a� �a O S/��M OM� �aL �a� • p . u� p. a � ul � - � � �u� uasaadaa IN LO Z$ IN L� �$ .� ` a� n a�inaas ana u� ao a aau si � � � � a ��i ui suoi ���oad uaaan� • � p q . I I 9ZJ�� � p p . 108� � � u� � .p . .� . � Sd1 o - o ' O ��uLa � u1 � IM u01 L�O � L O S 00 �S � • �o� �o�� � � u� . a i i. .� i i i � � �i u u l e e � - - e � - � e � - - �_ e �_ � e � � - - _ _ � � � Source Amount I Unexpended FY24 Budget Allocation $528,792 � � Unexpended FY23 Circuit Breaker $0.00 � � � Reimbursement FY24 Medicaid Reimbursement $388,555 FY24 Homeless Student $TBD Transportation Reimbursement FY24 Student Transcript & Parking $55,826 Fee Collection Totals $973,173 . . � � � • � � � � • � � � ! � ` _ � _- _ - - _ � ��� _��� � � �� �_`- _ `� �- _ _ � � � _ � � � _ _- _ ; _ -_ �� - � _ - - - - - - � � �� �� =�_�_� ��� � =�� - - _� = �_ = _ ��� � �� � , _ -� �� � �' � � � Source Ex iration Ori inal Award Available Amount p g Munici al ARPA Fundin $ 9 903 381 N/A p g , , School ARPA Fu nd i n g ESS E R I 09-30-2022 149 737 Fully Expended $ , ESS E R I I 09-30-2023 545 029 Fully Expended $ , ESS E R I I I 09-30-2024 1 202 445 Fully Expended $ , , Total School 1 897 211 0 � ) $ , , $ 1 . S ecial Ed ucation p • Preliminar out- lacements still lower than y p re- andemic • p p • Continued increase in more intensive � - student needs resident students ! � � , • Trans ortation challen es p g - • Unantici ated new students with hi her p g needs 2. Contract Ne otiations g • U n it D: ex i res 06-30-26 p • Tech: ex i res 06-30-27 p • U n it C: ex i red 08-31 -24 p • ALA: ex i res 06-30-26 p • U n it A: ex i res 08-31-26 p 3. Dis laced Student I m acts p p 4. H i h School En rol I ment g a � � , a . � , � • • . . . • • . � � � � � a . � • • } . . } . . � � � • � • � _ . } - - - � - . . . } � - anticipated staff for special education. � �„ � � � � � • We wi I I be uti I izi ng $500,000, wh ich is a portion of the $750,000 i n the Special Education Reserve Fund to r�neet the needs of � � � � � potential future r�nove-ins. This will increase our total budget by • • $500,000. Therefore, the total allocation for the schools would need to increase fror�n $147,500,319 to $148,000,319. � � � � � � • The use of the S ecial Education Reserve Fund is redicated on p p , . , . , � , , � , • , , , , , , � , Base Budget 989.12 1039.70 1089.03 1104.85 1138.10 1166.16 1169.35 1166.86 1190.02 1241 .08 1 BudgetAdds/Del 42.66 21 .87 8.93 14.35 7.89 1 .00 -3.64 -7.00 13.43 -26.85 2 U nal located 3.95 8.13 2.16 12.00 14.02 2.46 -2.44 6.00 12.00 8.00 3 LEA Contract 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3.00 9.75 10.25 adds 4 Post ATM 3.97 19.33 4.73 6.90 6.15 -0.27 3.59 21 .16 15.88 25.56 Supplementals Adjusted FTE Totals 1039.7 1089.03 1104.85 1138.1 1166.16 1169.35 1166.86 1190.02 1241.08 1258.04 - - . • � • • . • • . • . • • � • � � � . � • . ' � �� •� . � �� • . •� . �� •� . � � � • ' � i •' � � . • � � 2024-2025 I n District 6748 900 13.3% 14.7% Out-ofi-District 111 2023-2024 I n District 6805 886 13.0% 14.2% Out-ofi-District 94 2022-2023 I n District 6845 925 13.5% 14.7% Out-ofi-District 93 2021-2022 I n District 6790 885 13.0% 14.2% Out-ofi-District 93 2020-2021 I n District 6901 877 12.7% 14.0% Out-ofi-District 102 2019-2020 I n District 7191 940 13.1% 14.4% Out-ofi-District 111 2018-2019 I n District 7259 923 12.7% 14.1% Out-ofi-District 113 s � _� _ _� _ F�24 B r Drl r • 1 � 1 n �nr nr� n _ _ __ _ u eta ve s. S ec a ucat o o e t _ � Y p � �� - ,, �` � _ � � � � �� � � � � � � Y � � _ = � � � � � � � � � a ���-�—� --�f=� ��� � �_ � �_� �� / � � i � i • � • � � � � � � � � � • � LCP #with IEP 31 20 15 7 5 4 7 6 %with IEP 36.5% 41.7% 33.3% 58.3% 16.7% 12.9% 22.6% 23.1% Total New Reg. 85 48 45 12 30 31 31 26 Elem K-5 #with IEP 34 26 22 25 29 37 26 23 %with IEP 4.7% 3.8% 3.5% 4.4% 4.3% 5.8% 4.3% 5.5% Total New Reg. 717 676 631 571 676 634 600 420 Clarke #with IEP 5 2 1 6 9 9 3 4 %with IEP 7.0% 4.3% 1.4% 12.0% 11.0% 12.3% 3.8% 8.3% Total New Reg. 71 47 70 50 82 73 79 48 Diamond #with IEP 6 3 5 8 8 7 9 5 %with IEP 7.0% 3.8% 7.8% 11.6% 8.4% 6.9% 9.9% 8.3% Total New Reg. 86 78 64 69 95 102 91 60 LHS #with IEP 10 9 11 7 12 7 12 16 %with IEP 11.4% 8.3% 11.3% 8.9% 12.5% 5.2% 9.4% 16.3% Total New Reg. 88 108 97 79 96 134 127 98 � • " • " • � � � � . � . . . . 7 � � ��� �� � - -� �� � s� � �-E �� - � - —� �� � � - - � 7 � � �- � ��� � � � � � � �� �� � � � a� � �� � ��� � ���—� � � �� ��� � g���� � �� � �� �� � �� �� � � � �� � � ���� � . . . ����� . �� � 7 ���� . . . . . �- � � „ � _�� ,. ,,, _ � s ��� � _��� . s �.., �� �� � �� � c�� � �� � . ���� � � � . . � � � � � � \ � \ � � \ � \ � \ � \ ',� � \ � � \ � \ � . \ � \ � � � � ��� � � � � � � � . . . �  � � � � \ \ _ '� \ . \ \ \ \ — \ � • \ \ � \ � � � '� \ 9 \ \ � \ � � \ � � �� \ _ � � . � ����g��� ��=��=� ����,���� �������- ����£�����`��� ������-,���� �:�;� � � �� �� �_ ��� ���� ��- � �3� ���� � � ��� � �� ��� 3'��� � � � � � � � �'l�l'la,�' 1Sa, llt e: rl- 1St�'1Ct . . . . , ,_ �- � -- - _ ._�- - _� Llt-O - 1St�'1Ct eC1a LlCa,t101�l � �_ � � _ ,� _�.�� � ��:� � �� � ,,._,�- ,;- � � - � �- � = � � � � � - — _ � � � a =��-�-� --�-� ��: =�- -��_ �� � ������ � ����� �� '_ �� � � �� � . � � � � ��� � �� � - ��� v � h� � ��i� r�pr���r�t� �������� � ���� v � , ; �tud�r�t�; th� y ��i� ��� . . , , � � , , , _ , . , „ , ,. , . . , , , ,, , . , . , ,, , ,. . , , „ . , , , : ,. , . , . . , . , , , , , , r r r�t th h I r , , . . , ��� � � � �� , . , , , ,. � � � � , , „ , , , „ ; ,, , , , , , p Y , , „ , , ,, ,, , ,, ,,. , ,, ,,. , ,, , , , , vv , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,; : , , ,, , , ,; , , , , , , , � , „ , , , � �ith i r� r t r�t ; ,, , ,, , ��d� �u � ud� ; ;a,, ; ;,, ; , ;; : „ , �p��i�l �du��ti�r� ����� p�pul�ti�r� h��� b��r� �h�r�gir�g. • ���t-p�r�d�rr�i�, �� �r� ���ir�g �r� ir��r���ir�g ������ r� rr� r f t r�t �ith u b� � � ud� � � high I���I �f r���d. • Th� r���t pr���l�r�t .����� di��bility typ� �r��r�g ir�- �r�d �ut-�f-di�tri�t �p��i�l � � � �� �� �� � � ��� ���� �du��ti�r� �tud�r�t� � - ��r�tir�u�� t� b�Auti�r�� � ��� �� � f�r r��r� d�t�il� � � � � � � � � � � � � � � � � -� � � �� � � � �� �� �� �� �� �'�` �� �� �� �� �� _ _ � � �_ _�$ _ � � � � � � � � � � � ��� a�s� � �� � ��__ � � � � � � � � � � � c_ � �_ _� _ c_ � ___ __ _ �_ z£_� z���� • • • • eve o ee : n- 1St�'1Ct ecla ucatlon _ _ __ _ _ . � ��� - � � , � � � �� � � � ,., � Y , � 3 = � � � - � � � � a ���-�-� .-�f=� ��� �� � � _ _' � ��� ���� ���� • T�t�l (��C - 12� �r�r�llrr��r�t � _ � � - � �� �� � � a �,��� �� �_ _- _� � ������� � ��_ �� � _ ��_ � , _ � ��_ �����= ��� _ ���� pr��i�u� y��r • I��t d�pi�t�d: � p��k �f ���� ju�t ���r 9,�00 �tud�r�t� � _ � ir� 19�9, �h�r� ���ir�gt�r� __ _ _ h�d 11 �I�r��r�t�ry _ ���, -� ��h��l�, thr�� r�iddl� ���� ��h��l� �r�d �r�� high ��h��l. 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' 0.960 . . ' 0.987 � �l�l�� high�r �h�n � = ��h�r� in�r���ing in �i�� 2016-17 . . . . . . . . . . 0.991 . v �I�� 2017-18 ; . . . . . . . . ' 0.987 . ' 0.998 0.991 2018-19 ; 1.133' 1.Q32' 1.QA�9' 1.QA�7' 1.Q25' 1.QA�2' 1.Q11' 1.Q16' 0.972; 1.Q23' 0.993 0.995 Alook 2024-2025 ro ression rates: p � ; 2019-20 . . . . . . . . ' 0.948 0.988 0.970; 0.963 . . � t'I I ���'r�g. pr�g r���i�r� r�t�� t�r�d t� b� high�r �t th� �I�r��r�t�ry � r�iddl� ��h��l 2020-21 1.Q�8 1.Q�Q 1.000; 0.989 0.984 0.984 0.977 1.000 0.935 0.987 0.985 1.QQ8 I���I (�C-�) � I��nrr��t progr���i�r� r�t� �t th� � t� 9 tr�r��iti�r� 2021-22 ; 1.178' 1.Q81' 1.Q29' 1.Q2A�' 1.Q17' 0.996 1.QA�2' 1.QQ7' 0.922 0.995 0.973 0.974 � ��rri� r����r�t �hift� high�r pr�gr���i�r� 2022-23 1.175 1.12A� 1.Q82 1.Q75 1.Q31 1.QA�� 1.QA�2 1.Q5� 0.980 1.Q2� 0.987 0.993 r�t�� j�l hj n ��n��� r�d�� �ft�r � t� 9 g g ; 2023-24 ; . . . . . . ' 1.000 . ' 0.954 . ' 1.000 0.993 ; 2024-25 1.1Q5' 1.Q7Q' 1.Q2�' 1.Q18' 1.QA�A�' 1.Q�1' 1.Q12' 1.Q32' 0.980 1.Q3U' 1.Q13' 1.QQ2' , _�_ � � ��� � �� , �.��. � _ � ' a - ��� � � � �� � � � � 3 _ � � � � �" � - � _ � � � - � � � � a =�� �-� .-�f� �� � �� �� `. �� r��r�b�r�} �r�d pr�d���� r��i��d ��v� 2430 23�1 2294 �r�r���r��r�t pr�j��ti�r�� ���h y��rs � Er�r�llr��r�t pr�j��ti�r�� �r� b�ilt �r� 1� � 5 2��0 2�02 2�02 2��� 2��� �,�i� 2�0� 2�2� 2��� th� ����r�pt��r� th�t h��t�r���l d�t� l�i � 2519 2559 2539 ��d �r�r���r��r�t p�tt�rr�� ��r� �ff�r � ; , , � i • • " � � � � . � ' • ' • • � • ' • • ' • • . • � ' • ' . � ' . . • � , ' ' � ���� �- - _ Approved late 2025-early , � 10 (as of 5I8IZ024) Fiske/Diamond �Oz6 ���d��, VVlth ��f�'1pl�tl��1 Approved late 2025-early �xp��t�d b�t����t 2Q25 ��td � � 30 (as of 8I�4/Z024) Hastings/Diamond �Oz6 �Q�7 Approved _� _= � 46 (as of �OI9I2024)�� Bowman/Clarke 2027 A�r��� t�l��� � pr����t�: Submitted to Planning Board, � �7 �r�� b�d r��r��, � � � 7 pending si�e plan review Estabrook/Diamond � 49 t�� b�d r��r��, Submitted to Planning Board, � 2Q thr�� b�dr��r�� � � � 200 pending site plan review Bowman/Clarke Submitted to Planning Board, �� � - __ �� 312 pending si�e plan review Estabrook/Diamond Submitted to Planning Board, � � �� __ _ �_ 319 pending si�e plan review Hastings/Diamond ��� � � �� Submitted to Planning Board, �� � � 44 pending si�e plan review Harrington/Clarke � � � �_� � Submitted to Planning Board, � 25 pending si�e plan review Hastings/Diamond C�ther Known Housing 1���e%pments ��  - ��� 40 NatApplicable Fiske/Diamond • , _�_ � � �������� Pro osed and A roved ��ousln Develo ments �as of November 15, 2024) �_ � Y � � _� n-� �� �� � ` � p pp � p � � � _ - - _ _�' � � ���-�-�, =-�'� ��� �� � • i nmma�"""'�u�T��uuuHrviu�rvn�.0 i(.r''"'"�;��.m ���� rmnvre.��;uw�muv am r �:, ii�uu immnn»'w�' / „ " u � iouuwu r uuuuun�j�,. uuuoulum���uu�J"�'� WU �""mum �uiil° ���, U ' � : iti ,.i . . �� � �, �IJ� n � ��o� � ��u�"W ' �uoiw � III lumlll � �R����������'' lld � � �� i R ` , �l�. ��uul,,, � �'M'NNI� „+ �J � lui���lu'u � . ul�� I�' r ' �Nllll� . � I umri�� � I � �` .uiJ�N y i , ' �, �'Mw41N � m mm��r fi�I�ium �NI � ��rt���� ,, ,��:� ���ii�' �wr��������. , � ��� ° , i�'i „ , i � � �„ ��u' �u��r�� „� � ��iU �i� M�� %'' � w"u� i,�, �MP ��a �Q i�� „ � � iui�r�UU,. �� �rG��� I � ��i. �s�'i� �� �Ili�iuq;�; r�r� �� i �, ° � �� � �P,,,,,,,m,��,,, ,,,,,,,,, �,,,����,,,,,,, o,,,,,,��,� �,,, y� �`�� �u � � ��r� uui � ��, � , h��fr, �+� ii��l ���V� �4�,,� ��li �IN u��y ,, �1; IIIII rr�� i1toPG,;; `I'I�;;, ',,l�rou i� i�m uiH°� � �'G" f�ii=. ��� � >, �u»� fjf9t; �i i,,�rr� ; '� �wui��r��i�� ��' �1 ; 7, �I�;. rr� ' � „ ,' ww�iui t ,uu , ����� , ��(f � �r� � �.�� � ��i � � 4 /��� „ » , � 9�� � �titi �� -� iui ' " �auuuuuuuilllll ���� f` �,''� ��m � ii � ; ,� � �III � e ,� r�' � �� ��uu u,`�1� ��, � 1�w l f� 41 �I�I uy ,( ly �I� im � 1 I;l �/ � "IMIW�' III�III���� � `( � l� , , � ,„ ,,° ��, �r�w �� , r � ww����� �i�iydir ` � �r � ��, rM »�i� I , ui N� ���; '�;, 1,�«, ��u ,'�tt», � � � ,� „ � II o YIr , o,�r 'a� rdi�y , r IVII � �� � ui 0 i� �� � �� � ` IIII VW I INi 1 Vly ,� ll�� iidlllll� �� �!' � ��� �;' �W�;, Yr, I�(„ , u1V � ` �i i " � �I�If rt�l�l I :'�r r I�[, II� � IIVWIu� � ��IP � �I(! � „ �„ hw� ��' i;�% ` v ,� umuuuuuuum i i!� r'��/�I'i%J�� � n„� ,,i �' ';;i/ ii��4i�/%�i, �� fk� I lll'l„� i;�'I �.�� �Jf j�(� , iii���,', dfv lU�" ; 1YII� 1Y i finuuui�� f � �o /U� ��� Il�r� ��I(f/,, �INI ' � � ti���i % f% i ifl'n/> / ��j///jJ��4111i'���"�6 r;,/, ,, ' �INi°"�Ih �' � JIWIGri� �ir r I uu �ui�� �� III 1 f� � �f� ��� YI1 I Nft(1f �i� U,�� '1 � l�"�iu ��'�/' �� U�I�� � NI4 IIPJ���p� o^IIIII ir' /; ���� i�� �lY +,;I4b y�M�W „ �, r�, „ III'' I�� mii un, �.,�� ��I� „I�'M'hnil��,�^ �,,,. ,��1 i�" ���Pr ,u i� �uu mu� �, ,r �� � � �� �. � ifi I r�uN�rmi ��ii116111i uu �� ul�l�� �Illiu I % �����i��, �i�� �IIII`ium�I w�,um��Ilb�� u���. i��. ° lu ii u, 7��7ni�illl� �um�iii� J�� +�iimn d� � �� ' � ,,, � �� . �f �11,. Illum , � ' p' �uu` �i010allmi��Ih ���'� �i i ,iii�'�il �; �11�i ��II�(ollldll uui'w oi�ui a � : ,'NV ., ffm aurrr w i1YyIlY� ���I���'�uoi� luuum iu wau�(m um°, i� y u ��uo� ni��uumuvr , f'u�w/l ', „ .umu�iL '�ri i�i?m �i�V� °�aiu ,i� � ' ��n�� ` o uul�, ` �(fi a� � wl ;mmmumuuu nrca,o � .no�nmiouuu „ , r� /I�"'�Nrvi iili '�IN .. I�I' �i �rrrr,/ .. UUi „ u�iii i'��rw�nd/f�+ . �uu II, i � i �uue '��, ,, muiu� um „ ��1;P li 1'�uuqi,u i f. ' u.m��Illlumlff iu�. , ' ,uuuusir ilu i � iiu�uu'w�w��"mnmllli'�"' '. . �rn� VIV uv ��uu 7, tinv�r ,n a o,�: /�� �>uNuuumom�uv�im�n� �uu�ov�nuunaoiuonouuumii��/,`m"/P i .. ■ � � � 7 � own ana ers �ce �nance e ar men ssue ovem er , �,s�`���"�'� ���-' r�� �� ,�`'�°� � ��� � " �'I�; �: ^�, '�4���;� yi � ■ � ������������ Town of Lex�n ton - FY2026 Revenue Pro ect�ons Revenue Executive Summary This revenue projection is being submitted to the Select Board 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 arises, the projections may be revised. The summary below presents Total General Fund Operating Revenues, and Net General Fund Revenues. • Total General Fund Operating Revenues are from annually recurring and non-recurring revenue sources, including transfers from Enterprise Funds, special revenue funds, and Specialized Stabilization Funds. • Net General Fund Revenues are Total General Fund Revenues less revenues recommended to be set-aside to fund designated expenses. A large portion of the revenue set-aside is from certified Free Cash, which is a one-time revenue that should not be used for ongoing expenses. In FY2026, Total General Fund Operating Revenues are projected to increase by approximately$17.29 million, or 5.9%. Net General Fund Revenues, those available to support school and municipal operating budgets, are projected to increase by$12.23 million, or 4.6%. FY2023 FY2024 FY2026 FY2025-26 Change General Fund Revenue Summary Actual Actual FY2025 Recap Projected $ % Property Tax Levy(Table 1) $ 216,187,221 $ 227,334,427 $ 239,807,037 $ 249,002,213 $ 9,195,176 3.83% State Aid(Table 2) $ 17,095,119 $ 19,695,534 $ 20,451,907 $ 20,880,897 $ 428,990 2.�0% Local Receipts(Table 3) $ 23,992,007 $ 25,615,431 $ 16,115,992 $ 17,039,873 $ 923,881 5.73% Available Funds(Table 4) $ 17,643,280 $ 17,328,584 $ 17,318,684 $ 24,437,633 $ 7,118,949 41.11% Revenue Offsets(Table 5) $ (1,831,259) $ (1,813,993) $ (1,953,708) $ (2,360,640) $ (406,932) 20.83% Enterprise Receipts(Table 6) $ 1,805,613 $ 1,894,067 $ 1,873,817 $ 1,899,787 $ 25,970 1.39% Total General Fund Operating � 274,891,982 $ 290,054,050 $ 293,613,729 $ 310,899,763 $ 17,286,034 5.89% Revenues Less-Tax Levy Dedicated to Capital o Stabi l ization F u nd $ 1,733,137 $ 4,036,373 $ 6,563,050 $ 6,563,050 $ — —/o Less: Revenues Set-Aside for Other � 19,450,814 $ 20,412,932 $ 21,529,442 $ 26,585,483 $ 5,056,041 23.48% Designated Purposes Net General Fund Revenues $ 253,708,031 $ 265,604,745 $ 265,521,237 $ 277,751,231 $ 12,229,993 4.61% Detailed Description: Property Tax Levy: The FY2026 property tax levy is projected to increase approximately$9.20 million, or 3.83%. The projected levy is a function of the FY2025 levy limit increased by 2.5% per Proposition 2�/2, plus an increment for new growth. FY2026 new growth will be a function of construction activity for the period July 1, 2024 to June 30, 2025. FY2026 new growth is estimated at$3,200,000 based on a review of historical data on new growth and the Town's expectation that both residential and personal property growth will remain strong in FY2026. Tax Levy Dedicated to Capital Stabilization Fund: In the Fall of 2021 the Town Manager proposed a new fiscal guideline, a Capital Stabilization Framework, to prepare for future capital projects. Beginning in FY2022, new levy growth generated from specified commercial and industrial development will be dedicated to the Capital Stabilization Fund (CSF) rather than becoming general revenue for the town's operating budget. Projects include those with a Preliminary Site Development and Use Plan (PSDUP) approved by Town Meeting, or those approved due to the revamped zoning on Hartwell Ave. This framework will reserve levy capacity to absorb a sudden increase in debt service for large capital projects, such as the high school, in future years. The set-aside funds can also be applied in future years to mitigate exempt debt service created by those capital projects. A list of properties currently subject to this guideline is available in Table 1A, and the accumulated set-aside amount of prior year new growth is �,s�`���"�'� ���-' r�� �� ,�`'�°� � ��� � " �'I�; �: ^�, '�4���;� yi ■ ■ ■ ������������ Town of Lex►n ton - FY2026 Revenue Pro ect►ons $6,505,912 for FY2026.Additional new levy growth from these commercial and industrial projects for FY2025 is not included in the $3.20 million estimate noted above. Tax Levy Dedicated to Pension Fund: In FY2023 Takeda Pharmaceuticals (Takeda), a large industrial property owner discontinued their annual filing as a `manufacturer'with the Commonwealth of Massachusetts. In previous years, the designation as `manufacturer' exempted Takeda from personal property taxes. This change returned Takeda's $39 million of personal property back to the tax roll which equaled $1.06 million in new taxes. The Town has communicated a plan to dedicate this unexpected revenue into the Pension Fund in future years in order to remain on our planned funding schedule. When the Town has fully paid down the pension liability (i.e. reached full-funding) the contribution from the tax levy to the Pension Fund will decrease by over$9 million annually. The amount set-aside to pension each year is growing by 2.5%. State Aid: State Aid is projected to increase by 2.10% in FY2026, primarily due to an expectation that the Town will receive minimum per pupil aid of$60 per student under the Chapter 70 formula. The State is beginning to develop its FY2026 budget and initial FY2026 State Aid numbers will be available in January 2025, once the Governor releases her budget. Final figures are likely to be known in June 2025 when the Legislature adopts, and the Governor signs, the FY2026 State Budget. Local Receipts: FY2026 projections for each category of receipt are based on the history of actual collections and projections of 3- and 5-year historical averages, with some adjustments to specific categories due to economic and local conditions. FY2026 local receipts are estimated to increase by approximately$923,881 or 5.73% over FY2025 estimates, and details by category are detailed below. The main contributors to the increase in local receipts are Motor vehicle Excise, other excise taxes and ambulance fees. Available Funds: Available Funds are projected to increase by$7,118,949, or 41.11%, primarily due to a significant increase in the amount of Free Cash available from the close of FY2024. Free Cash is currently projected to be approximately $22,500,000, with the final amount expected to be certified in December, ahead of finalizing the FY2026 budget. In FY2024 the transfer from the PEG Access SRF was $100,000 less than the PEG operating budget, which results in a support from the tax levy to continue level service PEG programming. The FY2025 transfer from the PEG Access SRF is $200,000 less than the PEG operating budget. PEG revenue in future years may continue to decline. Free Cash has not yet been certified and therefore is a conservative estimate; however any additional free cash will be utilized for cash capital, not to support the operating budget. Revenue Offsets: Revenue Offsets are projected to increase by approximately$406,932 or 20.83%. Revenue Offsets represent the set-aside of a portion of projected revenues legally required 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 services provided to the Town, based on updated projections issued alongside the Governor's budget; (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. �,s�`���"�'� ���-' r�� �� ,�`'�°� � ��� � " �'I�; �: ^�, '�4���;� yi ■ ■ ■ ������������ Town of Lex►n ton - FY2026 Revenue Pro ect►ons The FY2026 increase in total Revenue Offsets is driven by the set-aside of$400,000 in estimated FY2026 revenue to cover a potential snow and ice deficit at the end of FY2025. For FY2025, $400,000 was set-aside, but did not end up being needed since actual FY2024 snow and ice removal expenses fell within their budgeted levels. Enterprise Receipts: This category of revenue represents transfers from the Water, Sewer, and Recreation Enterprise Funds to the General Fund to cover General Fund expenditures that support the operations of the water, sewer, and recreation departments. �,s�`���"�'� ���-' r�� �� ,�`'�°� � ��� � " �'I�; �: ^�, '�4���;� yi � ■ � ������������ Town of Lex�n ton - FY2026 Revenue Pro ect�ons FY2025-26 Change % Tax Levy $ 204,256,773 $ 216,220,071 $ 227,348,851 $ 239,807,037 $ 12,458,187 5.48% Prop.2.5% $ 5,106,419 $ 5,405,502 $ 5,683,721 $ 5,995,176 $ 311,455 5.48% New Growth $ 6,856,879 $ 5,723,278 $ 6,774,465 $ 3,200,000 $ (3,574,465) (52.76)% Override/Excess Lev Ca acit $ 32,849 $ 14,424 $- NA ' ' ' ' ' ' ' ' ' ' . / Chapter 70 $ 15,063,127 $ 17,609,131 $ 18,321,635 $ 18,728,375 $ 406,740 2.22% Charter School Reimbursement $ 60,734 $ 87,520 $ 73,653 $ 73,653 $ - -% Unrestricted General Government Aid $ 1,775,314 $ 1,832,124 $ 1,887,088 $ 1,906,142 $ 19,054 1.01% Veterans'Benefits&Exemptions $ 118,316 $ 83,921 $ 78,213 $ 78,213 $ - -% Offsets Librar $ 77,628 $ 82,838 $ 91,318 $ 94,514 $ 3,196 3.50% ' ' ' ' ' ' ' ' ' . / MotorVehicle ExciseTax $ 5,846,393 $ 6,143,335 $ 5,508,000 $ 5,773,000 $ 265,000 4.81% Other Excise $ 1,683,396 $ 1,982,929 $ 1,528,000 $ 1,832,000 $ 304,000 19.90% Penalties&Interest $ 413,104 $ 479,253 $ 380,500 $ 492,000 $ 111,500 29.30% PILOTs $ 709,774 $ 731,519 $ 744,000 $ 762,000 $ 18,000 2.42% Rentals $ 319,837 $ 479,390 $ 338,184 $ 352,623 $ 14,439 4.27% Departmental-Schools $ 550,130 $ 475,325 $ 348,500 $ 300,000 $ (48,500) (13.92)% Departmental-Municipal $ 3,245,975 $ 3,629,754 $ 2,965,525 $ 3,395,950 $ 430,425 14.51% Licenses&Permits $ 5,840,007 $ 3,226,256 $ 3,194,850 $ 3,016,300 $ (178,550) (5.59)% Special Assessments $ 13,531 $ 10,370 $ 10,433 $ - $ (10,433) (100.00)% Fines&Forfeits $ 111,594 $ 172,123 $ 98,000 $ 116,000 $ 18,000 18.37% Investment Income $ 4,401,414 $ 7,825,208 $ 1,000,000 $ 1,000,000 $ - -% Miscellaneous Non-Recurrin $ 856,853 $ 459,968 $ - $ - $ - -% ' ' ' ' ' ' ' ' ' . / Parking Fund $ - $ 100,000 $ 250,000 $ 425,500 $ 175,500 70.20% Cemetery Sale of Lots Fund $ 16,125 $ 50,408 $ 123,000 $ 123,000 $ - -% Free Cash $ 15,519,832 $ 15,919,159 $ 15,876,966 $ 23,000,000 $ 7,123,034 44.86% Health Claims Trust Fund $ 750,000 $ 240,000 $ 32,270 $ - $ (32,270) (100.00)% Transportation Demand Management o Stab.Fund $ 141,000 $ 171,000 $ 171,000 $ 171,000 $ - -/o Traffic Mitigation Stabilization Fund $ 240,000 $ 80,000 $ - $ - $ - -% Transportation Management Overlay � 65,000 $ 42,000 $ - $ - $ - -% District(TMOD)Stabilization Fund Ambulance Stabilization Fund $ - $ - $ 125,000 $ - $ (125,000) (100.00)% PEG Access Special Revenue Fund $ 637,576 $ 586,833 $ 646,214 $ 548,090 $ (98,124) (15.18)% Transportation Network Company � 6,824 $ 7,684 $ 13,234 $ 18,043 $ 4,809 36.34% (TNC)Special Revenue Fund Betterments Fund $ - $ 11,500 $ 1,000 $ 2,000 $ 1,000 100.00% Visitors Center Stabilization Fund $ - $ 50,000 $ 50,000 $ 50,000 $ - - General Stabilization Fund $ - $ - $ - $ - $ - -% Special Education Stabilization Fund $ - $ - $ - $ - $ - -% Recreation Enterprise Fund $ - $ - $ - $ 100,000 $ 100,000 -% Use of BAN Premiums $ - $ 70,000 $ 30,000 $ - $ (30,000) (100.00)% Balances from Prior Yr.Capital Articles $ 266,923 $ - $ - $ - $ - -% ' ' ' ' ' ' ' ' ' ' . / �,s�`���"�'� ���-' r�� �� ,�`'�°� � ��� � " �'I�; �: ^�, '�4���;� yi � ■ � ������������ Town of Lex�n ton - FY2026 Revenue Pro ect�ons Table 5: Revenue Offsets Cherry Sheet Assessments $ (1,003,631) $ (981,462) $ (1,112,390) $ (1,116,126) $ (3,736) 0.34% Cherry Sheet Offsets-Public Libraries $ (77,628) $ (82,531) $ (91,318) $ (94,514) $ (3,196) 3.50% Overlay(abatements) $ (750,000) $ (750,000) $ (750,000) $ (750,000) $ — —% Snow Deficit $ — $ — $ — $ (400,000) $ (400,000) — ' ' ' ' ' ' ' ' ' . / Water $ 977,093 $ 1,011,340 $ 968,301 $ 980,573 $ 12,272 1.27% Wastewater(Sewer) $ 542,416 $ 588,040 $ 596,525 $ 600,953 $ 4,428 0.74% Recreation&Community Programs $ 286,104 $ 294,687 $ 308,991 $ 318,261 $ 9,270 3.00% ' ' ' ' ' ' ' ' ' . / Gross General Fund Revenues $ 274,891,982 $ 290,054,050 $ 293,613,729 $ 310,899,763 $17,286,034 5.89% Less:Other Revenues Set � 19,450,814 $ 20,412,932 $ 21,529,442 $ 26,585,483 $ 5,056,041 23.48% Aside for Designated Expenses Net General Fund Revenues � 253,708,031 $ 265,604,745 $ 265,521,237 $ 277,751,231 $12,229,993 4.61% Available for Appropriation �,s�`���"�'� ���-' r�� �� ,�`'�°� � ��� � " �'I�; �: ^�, '�4���;� yi � ■ � ������������ Town of Lex�n ton - FY2026 Revenue Pro ect�ons Revenues Set Aside for Designated Expenses: This represents components of Gross General Fund Revenues that are set aside for designated purposes. The proposed purposes for FY2026 are shown in the table below. Financing Sources Tax Levy Free Cash Other Total Notes 1 Set-Aside for Unanticipated $ — $ 200,000 $ — $ 200,000 Reserve for appropriation at the 2025 Annual Town Current Fiscal Year Needs Meeting to fund supplemental appropriations to the FY2025(current year)budget. 2 Other Post-Employment $ — $ 2,079,721 $ — $ 2,079,721 Appropriate to OPEB Trust. Benefits(OPEB) 3 Unallocated $ — $ 1,000,000 $ — $ 1,000,000 Set aside for yet-to-be identified one-time needs in the FY2026 budget. 4 Cash Capital $ 750,000 $ 18,805,279 $ 18,043 $ 19,573,322 Free Cash,Tax Levy and other available funds to support capital improvements. 5 Appropriate into Capital $ 6,563,050 $ — $ — $ 6,563,050 To meet future capital/debt service needs. Stabilization Fund 8 Street Improvement Program $ 2,726,806 $ — $ — $ 2,726,806 Tax Levy designated for long-term street maintenance plan. 9 Municipal Building Envelope $ 236,421 $ — $ — $ 236,421 Initially funded in 2006 override;increases by 2.5%per and Systems year. 10 Warrant Articles $ — $ 15,000 $ — $ 15,000 Senior Tax Work-Off($15K) . . ', � . ', .�� ��� ', : �� ', :•� � 15 Funding for New Pension $ — $ 400,000 � $ 400,000 Amount of incremental increase in the updated Pension Schedule Funding schedule will continue to be supported with Free Cash in FY2025. . . . ', � � �•� ', ��� ��� ', : �� ', �: �������g��� �����. �,, ~�� �.' �, � - � �`° � �r�: '� _ `'�� '� = fj 1 ��t ��� ff ■ ■ ■ ���������� �` Town of Lex�n ton - FY2026 Revenue Pro ect�ons � Table 1-A: Tax Levy History Previous Year Allowable Allowable Dedicated Voter Allowable Fiscal Levy Limit 2��2% New New Levy Approved Total Tax Levy Exempt Debt Amount to Unused Tax Actual Tax Year �inci.amended new Increase Construction Growth* Override Limit Service raise from Capacity Levy growtr,) Property Tax 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 $ 3,709,681 $ 2,772,633 $ $ $154,769,047 $ 8,324,697 $ 163,093,744 $ 18,897 $ 163,074,847 2017 $ 154,781,455 $ 3,869,536 $ 3,309,344 $ $ $161,960,336 $ 8,330,185 $ 170,290,521 $ 94,519 $ 170,196,001 2018 $ 161,960,336 $4,049,008 $ 3,357,135 $ $ $169,366,479 $ 8,292,690 $ 177,659,169 $ 34,354 $ 177,624,815 2019 $ 169,402,066 $4,235,052 $ 3,270,004 $ $ $176,907,122 $ 9,360,000 $ 186,267,122 $ 66,068 $ 186,201,054 2020 $ 176,907,122 $4,422,678 $ 3,608,503 $ $ $184,938,303 $ 11,128,255 $ 196,066,558 $ 116,789 $ 195,949,768 2021 $ 184,938,303 $4,623,458 $ 4,853,553 $ $ $194,415,314 $ 12,684,830 $207,100,143 $ 85,435 $ 207,014,708 2022 $ 194,415,314 $4,860,383 $ 4,923,938 $ 57,138.00 $ $204,256,773 $ 13,947,991 $218,204,763 $ 28,032 $ 218,176,732 2023 $ 204,256,773 $ 5,106,419 $ 4,120,880 $ 2,735,999 $ $216,220,071 $ 15,208,385 $231,428,456 $ 32,849 $ 231,395,606 2024 $ 216,220,071 $ 5,405,502 $ 3,420,042 $ 2,303,236 $ $227,348,851 $ 16,311,649 $243,660,500 $ 14,424 $ 243,646,076 2025** $ 227,348,851 $ 5,683,721 $ 4,247,789 $ 2,526,677 $ $239,807,037 $ 16,591,920 $256,398,957 $ $ 256,398,957 2026** $ 239,807,037 $ 5,995,176 $ 3,200,000 $ $ $249,002,213 $ 16,616,441 $265,618,654 $ $ 265,618,654 Note: *Dedicated New Levy Growth includes amounts set-aside into the Capital Stabilization Fund (CSF). For FY2023 the $2,735,999 new growth set-aside included $1,060,000 dedicated to the Pension Fund and $1,675,999 into the CSF. ** FY2025 & FY2026 Exempt Debt Service is based on debt modeling of current authorizations excluded from the limits of Proposition 2'/2 and projects that are candidates for future debt exclusion projects. Amount shown is projected debt service, net of the application of Capital Stabilization funds to mitigate taxpayer impact. Table 1-A: Tax Levy History 8 November 20, 2024 �������g��� �����. �,, ~�� �.' �, � - � �`° � �r�: '� _ `'�� '� = fj 1 ��t ��� ff ■ ■ ■ ���������� �` Town of Lex�n ton - FY2026 Revenue Pro ect�ons � Ta b l e 1-B: N ew Tax Levy G rowth - - _-- _� _-- _ - - �  - � -  � � � -� �-- -  _  - _ _ - - - _ _-_- __ -_ _ ,� -_ _ _   � - - _ � - - _ _ _  � - _ - � - _� -��_ _ �� -� _ _�_��� ��_ _ \ �_ � -�_ � -� � _ � _ -� � _ _ -� � _ � -�_ � -� � _ -� _ � � �__ _ _ __ _ _ \ __ _ __ _ _ \ � ` ` ��_ _ __ _ _ , � ��\ ,�,�,,,,,,,, \ \\\\\\\\\ . : __ _ _ __ _ _ \ __ _ _ __ _ _ \ �__ _ _ __ _ _ -�-  � -�-  �� -�-  � -�-  �- -�- _ _ -�-  � -�-  -�-  -�-  � -�-  - Personal Three Year Average FY2023-2025 Commercial/ C/I Dedicated Dedicated to Fiscal Year Residential Industrial to CSF Personal Pension Total C/I/P $1,939,193 FY2016 $1,712,987 $215,442 $743,704 $2,672,133 Residential $1,990,377 FY2017 $1,858,460 $507,820 $943,064 $3,309,344 Total $3,929,570 FY2018 $1,908,536 $743,645 $704,954 $3,357,135 FY2019 2 022 777 480 671 766 558 3 270 005 Five Year Average FY2021-2025 $ , , $ , $ , $ , , FY2020 1 698 582 793 718 1 116 203 3 608 503 C/I/P $2,349,039 $ , , $ , $ , , $ , , FY2021 1 973 034 1 639 128 1 241 391 4 853 553 Residential $1,964,201 $ , , $ , , $ , , $ , , FY2022 1 876 839 1 710 247 57 138 1 336 852 4 981 076 Total $4,313,240 $ , , $ , , $ , $ , , $ , , FY2023 $1,933,882 $1,386,864 $1,675,999 $800,135 $1,060,000 $6,856,879 Ten Year Average FY2016-2025 FY2024 $1,790,882 $19,382 $2,303,236 $1,609,778 $0 $5,723,278 C/I/P $1,876,097 FY2025 $2,246,368 $541,401 $2,526,677 $1,460,019 $0 $6,774,465 Residential $1,902,235 Totals $19,022,347 $8,038,318 $6,563,050 $10,722,658 $1,060,000 $45,406,371 Total $3,778,332 Note: FY2021 and FY2022 include approximately$1.2 million and $1.5 million, respectively, for new construction at 75 Hayden Ave. FY2023 includes $1.25 million from 1050 Waltham St. and $1.06 million of new Personal Property at Takeda. FY2024 includes $1.1 million from 1050 Waltham St. and $857K from 20 Maguire Rd. FY2025 includes$2.5 million from 440 Bedford St. Table 1-6: New Tax Levy Growth 9 November 20, 2024 �������g��� �����. �,, ~�� �.' �, � - � �`° � �r�: '� _ `'�� '� = fj 1 ��t ��� ff ■ ■ ■ ���������� �` Town of Lex�n ton - FY2026 Revenue Pro ect�ons � Table 1-C: New Levy Growth Dedicated to the Capital Stabilization Fund by Property _ _ _ _ Accumulated FY2022 FY2023 FY2024 FY2025 Tax-Levy FY2026 � Property Address Actual Actual Actual Recap Set-Aside Projected ;1050 Waltham St. $ ,$ 1,252,291 =$ 1,101,665 $ I$ 2,353,956 I$ 2,353,956 = � ;186 Bedford St. ,$ 21,451 $ 24,488 $ 9,885 $ 32,156 I$ 87,980 I$ 87,980 = � ,55 Watertown St. $ 35,687 $ 399,220 $ 169,897 $ I$ 604,804 I$ 604,804 = �440 Bedford St. �$ �$ �$ 164,207 =$ 2,494,520 I$ 2,658,727 I$ 2,658,727 = �20 Maguire Rd. �$ �$ �$ 857,582 �$ $ 857,582 $ 857,582 � �Subtotal - CSF Tax Levy �$ 57,138 �$ 1,675,999 �$ 2,303,236 �$ 2,526,677 $ 6,563,050 $ 6,563,050 � Note: Beginning in FY2022, new levy growth generated from specified projects will be dedicated to the Capital Stabilization Fund (CSF) rather than falling to general revenue for the town budget. Projects include those with a Preliminary Site Development and Use Plan (PSDUP) approved by Town Meeting, and those approved due to the revamped zoning on Hartwell Ave. In this way, fiscal leaders are setting aside funds now to mitigate the later burden on the taxpayers for large capital projects such as the High School reconstruction. Table 1-6: New Tax Levy Growth 10 November 20, 2024 �������g��� �����. �,, ~�� �.' �, � - � �`° � �r�: '� _ `'�� '� = fj 1 ��t ��� ff ■ ■ ■ ���������� �` Town of Lex�n ton - FY2026 Revenue Pro ect�ons � Table 2-A: State Aid (Cherry Sheet) �  -   � - � - - � � -  ¢ � ���.������� ���,���,��� _ � � � ��E.���.��� � --� - ��` ��`� � � � _ _ __ ���.���.��� � - < <   < �� �� � �� �� �� � �� - �� FY2020 FY2021 FY2022 FY2023 FY2024 FY2025 2026 State Aid-Cherry Sheet: Actual Actual Actual Actual Actual Cherry Sheet Projected Education: Chapter 70 $ 14,456,349 $ 14,438,034 $ 14,647,494 $ 15,063,127 $ 17,609,131 $ 18,321,635 $ 18,728,375 Charter Tuition Reimbursement $ 2,446 $ 60,652 $ 101,651 $ 60,734 $ 87,520 $ 73,653 $ 73,653 Sub-Total, All Education Items $ 14,458,795 $ 14,498,686 $ 14,749,145 $ 15,123,861 $ 17,696,651 $ 18,395,288 $ 18,802,028 General Government: Unrestricted General Government Aid $ 1,627,400 $ 1,627,400 $ 1,769,494 $ 1,775,314 $ 1,832,124 $ 1,887,088 $ 1,906,142 Veterans Benefits $ 30,109 $ 18,904 $ 20,416 $ 24,178 $ 17,954 $ 18,222 $ 18,222 Exemptions: Vets, Blind, Surviving Spouses $ 92,525 $ 87,693 $ 12,550 $ 94,138 $ 65,967 $ 59,991 $ 59,991 Offset Items: Public Libraries $ 51,915 $ 63,823 $ 53,560 $ 77,628 $ 82,838 $ 91,318 $ 94,514 Sub-Total, General Government $ 1,801,949 $ 1,797,820 $ 1,856,020 $ 1,971,258 $ 1,998,883 $ 2,056,619 $ 2,078,869 Gross Cherry Sheet Totals $ 16,260,744 $ 16,296,506 $ 16,605,165 $ 17,095,119 $ 19,695,534 $ 20,451,907 $ 20,880,897 Less Offset Items: $ 51,915 $ 63,823 $ 53,560 $ 77,628 $ 82,838 $ 91,318 $ 94,514 Net Cherry Sheet Totals $ 16,208,829 $ 16,232,683 $ 16,551,605 $ 17,017,491 $ 19,612,696 $ 20,360,589 $ 20,786,383 Note: From FY2019 to FY2023 Lexington received the minimum per-pupil amount of State Aid under the Chapter 70 formula. In FY2024 State revenue was significantly higher as Lexington's foundation budget grew faster than our required local contribution, requiring a higher contribution from the State under the Chapter 70 formula. Minimum aid of$60 per pupil is projected for FY2026. Statutory parameters of the Chapter 70 formula is $30 per pupil, however the State has elected higher amounts for the last several years ranging from $60-$100 per pupil. Table 2-A: State Aid (Cherry Sheet) 11 November 20, 2024 �������g��� �����. �,, ~�� �.' �, � - � �`° � �r�: '� _ `'�� '� = fj 1 ��t ��� ff ■ ■ ■ ���������� �` Town of Lex�n ton - FY2026 Revenue Pro ect�ons � Table 3-A: Local Receipts Summary - - - - _ � -- - - � - - � - � _ � � � -_  �  � � � �  � � - � - ���.���.��� ����������� . . _ � _� ����������� < < ���;���;��� � _ �_ � � _���_�� � ��- ��< < � ` �- - � ` _ __ _ _ ���.���.��� ��_ ��_ � ��_ ��_ ��_ � ��_ ��_ Local Receipt Category FY2020 FY2021 FY2022 FY2023 FY2024 2025 2026 3-Year 5-Year Actual Actual Actual Actual Actual Estimated Pro�ected Average Average Motor Vehicle Excise Tax $ 5,383,364 $ 5,335,129 $ 5,330,281 $ 5,846,393 $ 6,143,335 $ 5,508,000 $ 5,773,000 $ 5,773,337 $ 5,607,701 Other Excise $ 1,503,388 $ 813,643 $ 1,351,204 $ 1,683,396 $ 1,982,929 $ 1,528,000 $ 1,832,000 $ 1,672,510 $ 1,466,912 Penalties & Interest $ 564,274 $ 445,590 $ 590,842 $ 413,104 $ 479,253 $ 380,500 $ 492,000 $ 494,400 $ 498,613 PILOT's $ 666,376 $ 660,966 $ 682,107 $ 709,774 $ 731,519 $ 744,000 $ 762,000 $ 707,800 $ 690,149 Rentals $ 431,498 $ 473,201 $ 394,624 $ 319,837 $ 479,390 $ 338,184 $ 352,623 $ 397,950 $ 419,710 Departmental-Schools $ 331,482 $ 337,909 $ 1,169,058 $ 550,130 $ 475,325 $ 348,500 $ 300,000 $ 731,505 $ 572,781 Departmental-Municipal $ 2,697,925 $ 2,398,261 $ 2,742,233 $ 3,245,975 $ 3,629,754 $ 2,965,525 $ 3,395,950 $ 3,205,987 $ 2,942,829 Licenses & Permits $ 3,021,668 $ 3,542,914 $ 3,171,808 $ 5,840,007 $ 3,226,256 $ 3,194,850 $ 3,016,300 $ 4,079,357 $ 3,760,531 Special Assessments $ 19,781 $ 25,644 $ 18,165 $ 13,531 $ 10,370 $ 10,433 $ $ $ Fines & Forfeits $ 152,654 $ 59,820 $ 79,398 $ 111,594 $ 172,123 $ 98,000 $ 116,000 $ 121,038 $ 115,118 Investment Income $ 1,297,265 $ 277,170 $ 281,726 $ 4,401,414 $ 7,825,208 $ 1,000,000 $ 1,000,000 $ 4,169,449 $ 2,816,556 Miscellaneous Non-Recurring $ 754,943 $ 987,817 $ 903,030 $ 856,853 $ 459,968 $ $ $ $ Total $16,824,618 $15,358,064 $16,714,476 $23,992,008 $25,615,430 $16,115,992 $17,039,873 $21,353,333 $18,890,900 Note: Local Receipts make up 5.5% of the projected FY2026 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: Local Receipts 12 November 20, 2024 �������g��� �����. �,, ~�� �.' �, � - � �`° � �r�: '� _ `'�� '� = fj 1 ��t ��� ff ■ ■ ■ ���������� �` Town of Lex�n ton - FY2026 Revenue Pro ect�ons � Table 3-B: Local Receipt Detail - Motor Vehicle Excise Tax Local Receipt Category FY2020 FY2021 FY2022 FY2023 FY2024 2025 2026 3-Year 5-Year Actual Actual Actual Actual Actual Estimated Pro�ected Average Average Motor Vehicle Excise Tax $ 5,383,364 $ 5,335,129 $ 5,330,281 $ 5,846,393 $ 6,143,335 $ 5,508,000 $ 5,773,000 $ 5,773,337 $ 5,607,701 MOTOR VEHICLE EXCISE TAX-PR 765 1 065 874 24 403 �� ��� �� ��� $ $ , $ $ $ � � \\ ii:: \\ 15 MOTOR VEHICLE EXCISE TAX $ 354 $ 56 $ 45 $ 193 $ - �� - �� � � 16 MOTOR VEHICLE EXCISE TAX $ 1,678 $ 559 $ 36 $ 27 $ 166 ;� ;� � ) � ) \ \ 17 MOTOR VEHICLE EXCISE TAX 896 1 569 4 111 1 074 429 �� �� $ $ , $ , $ , $ �. �. � �. �.. �.. ��. �. . �. �.: �.: �,;� �,;� 18 MOTOR VEHICLE EXCISE TAX 12 815 7 410 1 792 1 720 182 � � $ , $ , $ , $ , $ �. �. �.. �.. �.. �.. �.. �.. �..�.. �.. �.. ��: �: .: � 19 MOTOR VEHICLE EXCISE TAX 846 584 20 914 5 945 1 155 517 �,� �,� $ , $ , $ , $ , $ �, �, ��:. �:. .. �.. �. �. � �: �.: �.. 20 MOTOR VEHICLE EXCISE TAX 4 523 628 758 643 29 286 2 768 1 739 �� �� $ , , $ , $ , $ , $ , �. �. �. �. �. �. ��. �. . �. \ ; �� �� 21 MOTOR VEHICLE EXCISE TAX NA 4 544 913 688 159 15 954 58 � � $ , , $ , $ , $ ( )�. �. �.. �.. �: �: �. �. � ,, �: �: 22 MOTOR VEHICLE EXCISE TAX NA NA 4 600 034 738 734 20 730 ��� ��� $ , , $ , $ , �. �. �.. �.. �.. �.. �.. �.. ��. �. . �. �.: �: 23 MOTOR VEHICLE EXCISE TAX NA NA NA 5 084 800 718 903 ��� ��� $ , , $ , � �: �.. �.. �.. �.. ��. �. : �: 24 MOTOR VEHICLE EXCISE TAX NA NA NA NA 5 402 512 �� �� � > > �. �. �. �, �..\ \�.. �.: 25 MOTOR VEHICLE EXCISE TAX NA NA NA NA NA $ 5,508,000 �\ � 26 MOTOR VEHICLE EXCISE TAX NA NA NA NA NA NA $ 5,773,000 Table 3: Local Receipts 13 November 20, 2024 �������g��� �����. �,, ~�� �.' �, � - � �`° � �r�: '� _ `'�� '� = fj 1 ��t ��� ff ■ ■ ■ ���������� �` Town of Lex�n ton - FY2026 Revenue Pro ect�ons � Table 3-C: Local Receipt Detail - Other Excise Taxes Local Receipt Category FY2020 FY2021 FY2022 FY2023 FY2024 2025 2026 3-Year 5-Year Actual Actual Actual Actual Actual Estimated Pro�ected Average Average Other Excise Taxes $ 1,503,388 $ 813,643 $ 1,351,204 $ 1,683,395 $ 1,982,930 $ 1,528,000 $ 1,832,000 $ 1,672,509 $ 1,466,912 OTHER EXCISE-HOTEL/MOTEL $ 802,003 $ 356,743 $ 613,622 $ 718,671 $ 841,526 $ 678,000 $ 780,000 $ 724,606 $ 666,513 OTHER EXCISE-JET FUEL $ 263,161 $ 152,253 $ 265,420 $ 495,863 $ 631,677 $ 380,000 $ 563,000 $ 464,320 $ 361,675 OTH E R EXC I S E-M EALS $ 438,224 $ 304,647 $ 472,162 $ 468,861 $ 509,727 $ 470,000 $ 489,000 $ 483,583 $ 438,724 N ote: The 0.75% local option meals excise tax became effective on January 1, 2010. The 2% local option hotel/motel excise became effective on July 1, 2010. For FY2026 Other Excise receipts were adjusted to closely reflect the average of the last two fiscal years as the 3-year and 5-year averages inlcude pandemic years when receipts were lower. Projections for Hotel/Motel have mostly returned to pre-pandemic revenue levels, despite the closure of one hotel. This category may receive an additional boost due to the local Lex250 celebrations in FY2026. Jet Fuel is projected at the average of FY2023 and FY2024 which both reflect recent trends in fuel prices and increased activity at Hanscom due to private jet expansion. Meals are budgeted at the average of FY2023 and FY2024 which reflect pre-pandemic revenue levels. Table 3-D: Local Receipt Detail - Penalties & Interest Local Receipt Category FY2020 FY2021 FY2022 FY2023 FY2024 2025 2026 3-Year 5-Year Actual Actual Actual Actual Actual Estimated Pro�ected Average Average Penalties & Interest $ 564,274 $ 445,590 $ 590,843 $ 413,104 $ 479,254 $ 380,500 $ 492,000 $ 494,400 $ 498,612 PENALTIES AND INTEREST P.P.TAX $ 16,699 $ 12,494 $ 11,785 $ 9,733 $ 10,940 $ 10,500 $ 10,000 $ 10,819 $ 12,330 PENALTIES&INTEREST R.E.TAX $ 216,616 $ 291,465 $ 273,635 $ 254,616 $ 271,619 $ 235,000 $ 266,000 $ 266,623 $ 261,590 PENALTIES&INTEREST TAX LIENS $ 300,685 $ 37,277 $ 229,717 $ 66,193 $ 112,620 $ 75,000 $ 136,000 $ 136,177 $ 149,298 PENALTIES&INTEREST M.V.TAX $ 30,274 $ 104,354 $ 75,706 $ 82,562 $ 84,075 $ 60,000 $ 80,000 $ 80,781 $ 75,394 N ote: Penalties and Interest are not budgeted at full 3-year or 5-year average since they are highly fluid and will vary due to case-by-case circumstances, including the amount of unpaid property taxes outstanding (Lexington typically collects 98%-99% of committed property taxes). Table 3: Local Receipts 14 November 20, 2024 �������g��� �����. �,, ~�� �.' �, � - � �`° � �r�: '� _ `'�� '� = fj 1 ��t ��� ff ■ ■ ■ ���������� �` Town of Lex�n ton - FY2026 Revenue Pro ect�ons � Table 3-E: Local Receipt Detail - Payments-in-Lieu-of-Taxes (PILOTs) Local Receipt Category FY2020 FY2021 FY2022 FY2023 FY2024 2025 2026 3-Year 5-Year Actual Actual Actual Actual Actual Estimated Pro�ected Average Average PILOTs $ 666,152 $ 660,966 $ 682,107 $ 709,774 $ 731,518 $ 744,000 $ 762,000 $ 707,800 $ 690,103 Town of Arlington, MA $ 2,048 $ 2,048 $ 2,048 $ 2,048 $ 2,048 $ 2,048 $ 2,048 $ 2,048 $ 2,048 City of Cambridge, MA $ 1,985 $ 1,985 $ 1,985 $ 1,985 $ 1,985 $ 1,985 $ 1,985 $ 1,985 $ 1,985 Lexington Lodge#2204 BPOE(Elks) $ 7,236 $ 7,236 $ 7,236 $ 7,453 $ 7,677 $ 7,308 $ 7,455 $ 7,455 $ 7,367 Brookhaven $ 573,001 $ 587,326 $ 602,009 $ 617,060 $ 632,486 $ 648,298 $ 664,506 $ 617,185 $ 602,376 Trustees of the Supreme Council � 21,058 $ 21,058 $ 21,058 $ 21,690 $ 22,340 $ 21,268 $ 21,696 $ 21,696 $ 21,441 (Masons) Waldorf School $ 39,249 $ 20,156 $ 29,394 $ 42,354 $ 43,412 $ 44,499 $ 45,612 $ 38,387 $ 34,913 Lexington Housing Authority $ 20,982 $ 20,864 $ 18,077 $ 16,863 $ 21,228 $ 18,601 $ 18,723 $ 18,723 $ 19,603 Miscellaneous $ 593 $ 293 $ 300 $ 321 $ 342 $ - $ - $ 321 $ 370 N ote: 1. PILOTs are projected based on historical averages, except for Brookhaven and the Waldorf School which increase annually per written agreements. The Brookhaven PILOT was renegotiated in May 2017 as part of rezoning approved at Town Meeting; increased payments began in FY2020. Table 3: Local Receipts 15 November 20, 2024 �������g��� �����. �,, ~�� �.' �, � - � �`° � �r�: '� _ `'�� '� = fj 1 ��t ��� ff ■ ■ ■ ���������� �` Town of Lex�n ton - FY2026 Revenue Pro ect�ons � Table 3-F: Local Receipt Detail - Rentals Local Receipt Category FY2020 FY2021 FY2022 FY2023 FY2024 2025 2026 3-Year 5-Year Actual Actual Actual Actual Actual Estimated Pro�ected Average Average Rentals $ 431,498 $ 473,201 $ 394,624 $ 319,837 $ 479,390 $ 338,184 $ 352,623 $ 397,950 $ 419,710 Buildings $ 79,364 $ 69,900 $ 75,267 $ 47,468 $ 53,699 $ 53,567 $ 53,989 $ 58,811 $ 65,140 Cell Towers $ 352,134 $ 403,301 $ 319,357 $ 272,369 $ 425,691 $ 284,617 $ 298,634 $ 339,139 $ 354,570 MWRA $ 70,261 $ 118,472 $ 75,923 $ - $ 158,746 $ 82,963 $ 82,963 Verizon $ 54,636 $ 56,275 $ 57,964 $ 59,703 $ 61,494 $ 61,494 $ 63,339 Sprint/Nextel $ 99,961 $ 51,547 $ - $ - $ - $ - $ - AT&T $ 41,259 $ 41,523 $ 42,769 $ 44,052 $ 96,406 $ 51,186 $ 52,721 T-Mobile $ 41,016 $ 90,483 $ 97,702 $ 123,614 $ 64,045 $ 43,974 $ 45,293 Temp.Site for Police Antenna $ 45,000 $ 45,000 $ 45,000 $ 45,000 $ 45,000 $ 45,000 $ 54,318 Note: Building Rentals reflect rental agreements with the Munroe Center for the Arts, the Waldorf School, LexFarm, and outdoor dining agreements. The Munroe Center for the Arts revenue for FY2018-2022 reflects repayment to the Town for a roofing project; the last year for repayment was FY2022. Sprint terminated their cell tower lease agreement with the Town effective March 2022. Beginning in FY2025 the Town will receive sublease revenue from the new antenna behind the Police Station which replaced the temporary antenna. Table 3-G: Local Receipt Detail - Schools Departmental Revenue Local Receipt Category FY2020 FY2021 FY2022 FY2023 FY2024 2025 2026 3-Year 5-Year Actual Actual Actual Actual Actual Estimated Pro�ected Average Average Schools Departmental Revenue $ 331,482 $ 337,910 $ 1,169,059 $ 550,130 $ 475,326 $ 348,500 $ 300,000 $ 731,505 $ 572,781 TUITION $ 2,188 $ 10,942 $ - $ - $ - $ - $ - $ - $ 2,626 M E D I CAI D RE I M B U RS E M E N T $ 281,600 $ 287,285 $ 954,638 $ 503,905 $ 388,555 $ 300,000 $ 250,000 $ 615,699 $ 483,197 STUDENT PARKING FEES $ 8,750 $ 3,605 $ 8,925 $ 4,375 $ 8,750 $ 8,500 $ 6,000 $ 7,350 $ 6,881 TRAN SC R I PT F E ES $ 36,374 $ 36,078 $ 45,030 $ 41,850 $ 47,076 $ 40,000 $ 44,000 $ 44,652 $ 41,281 HOMELESS STUDENT � 2,570 $ - $ 160,466 $ - $ 30,945 $ - $ - $ 63,804 $ 38,796 TRANSPORTATION Note: Program rules for Medicaid reimbursements were becoming more restrictive prior to the pandemic, and reimbursements are dependent on student eligibility and services offered. Town was able to recoup many expenses that were related to the pandemic in FY2022, some which continued into FY2023. The School Department has advised that expected reimbursements are currently steady but future restrictions may curtail the Town's ability to recoup expenses. Table 3: Local Receipts 16 November 20, 2024 �������g��� �����. �,, ~�� �.' �, � - � �`° � �r�: '� _ `'�� '� = fj 1 ��t ��� ff ■ ■ ■ ���������� �` Town of Lex�n ton - FY2026 Revenue Pro ect�ons � Table 3-H: Local Receipt Detail - Municipal Departmental Revenue Local Receipt Category FY2020 FY2021 FY2022 FY2023 FY2024 2025 2026 3-Year 5-Year Actual Actual Actual Actual Actual Estimated Pro�ected Average Average Municipal Department Revenue $2,697,925 $2,398,261 $ 2,742,234 $ 3,245,915 $3,621,750 $2,865,525 $ 3,293,950 $ 3,203,300 $ 2,941,215 MISC.FEES $ 8,539 $ 7,266 $ 7,471 $ 4,429 $ 13,486 $ 7,500 $ 7,500 $ 8,462 $ 8,238 NET METERING CREDIT REVENUE $ 691,986 $ 674,298 $ 642,150 $ 841,417 $ 823,246 $ 680,000 $ 830,000 $ 768,937 $ 734,619 MUNICIPAL LIEN CERTIFICATES $ 34,229 $ 42,645 $ 35,609 $ 20,366 $ 19,225 $ 35,000 $ 25,000 $ 25,067 $ 30,415 TOW N C L E RK F E E $ 36,361 $ 36,943 $ 30,725 $ 34,278 $ 36,055 $ 35,900 $ 34,000 $ 33,686 $ 34,872 REGISTRY SURCHARGE FEE $ 15,985 $ 10,020 $ 10,100 $ 10,235 $ 14,030 $ 15,000 $ 11,000 $ 11,455 $ 12,074 RENTAL CAR SURCHARGE FEES $ 2,406 $ 1,199 $ 2,264 $ 3,233 $ 3,385 $ 2,500 $ 2,500 $ 2,961 $ 2,497 CONSERVATION FEES $ 48,963 $ 27,353 $ 30,039 $ 22,627 $ 24,728 $ 38,000 $ 26,000 $ 25,798 $ 30,742 P.B. F I L I N G&REV I E W F E E S $ 40,163 $ 24,000 $ 61,500 $ 26,181 $ 52,653 $ 40,000 $ 40,000 $ 46,778 $ 40,899 AN R P LAN F I L I N G F E ES $ 14,000 $ 9,000 $ 150 $ 150 $ 650 $ 10,000 $ - $ 317 $ 4,790 POLICE DEPT REC-HOUSE ALARM $ 14,320 $ 7,720 $ 9,520 $ 10,120 $ 8,560 $ 12,000 $ 9,000 $ 9,400 $ 10,048 PO L I C E D E PT F E E $ 83,506 $ 70,286 $ 72,800 $ 97,917 $ 118,752 $ 88,000 $ 88,000 $ 96,490 $ 88,652 F I RE D E PT REC-AM B U LAN C E F E E $ 1,321,540 $ 1,157,735 $ 1,425,457 $ 1,728,905 $ 2,050,103 $ 1,550,000 $ 1,800,000 $ 1,734,822 $ 1,536,748 FIRE DEPT REC-FIRE ALARM FEES $ 12,400 $ 10,095 $ 10,161 $ 13,725 $ 9,800 $ 13,675 $ 11,000 $ 11,229 $ 11,236 AVALON BAY MONITORING SERVICES $ - $ 5,850 $ 19,300 $ 17,620 $ 9,650 $ 9,650 $ 9,650 $ 15,523 $ 10,484 FIRE DEPARTMENT FEE $ 20,450 $ 37,300 $ 28,900 $ 24,500 $ 21,900 $ 25,000 $ 25,000 $ 25,100 $ 26,610 B&Z MICROFILM FEES $ 5,760 $ 9,470 $ 4,990 $ 1,555 $ - $ 6,000 $ 3,000 $ 2,182 $ 4,355 B.O.A. H EAR I N G F E ES $ 3,300 $ 12,752 $ 10,000 $ 10,210 $ 6,550 $ 3,000 $ 8,000 $ 8,920 $ 8,562 TRENCH PERMIT FEES $ 6,450 $ 6,700 $ 7,500 $ 5,700 $ 5,650 $ 6,500 $ 6,000 $ 6,283 $ 6,400 P ROTECTE D TRE E F E E S $ 7,550 $ 690 $ 8,890 $ 50,735 $ 54,480 $ 7,500 $ 38,000 $ 38,035 $ 24,469 MISC MUNICIPAL DEPT REVENUE $ 932 $ 310 $ 395 $ 769 $ 322 $ 300 $ 300 $ 495 $ 545 LEXPRESS FARES $ 56,642 $ 9,506 $ 16,010 $ 12,417 $ 23,777 $ 30,000 $ 22,000 $ 17,401 $ 23,671 CEMETERY INTEREST ALLOCATION $ 90,038 $ 72,925 $ 95,969 $ 101,500 $ 130,898 $ 70,000 $ 100,000 $ 109,456 $ 98,266 CEMETERY PREPARATION $ 182,405 $ 164,198 $ 212,334 $ 207,326 $ 193,850 $ 180,000 $ 198,000 $ 204,503 $ 192,023 Note: FY2026 projections are based on 3- and 5-year historical averages, with adjustments applied for economic conditions and local trends. Net Metering Credit is revenue from Eversource for power generated by the Hartwell Avenue solar arrays.Ambulance fee projections for FY2026 were adjusted upward to reflect a recent increase in fees and service levels that are at all-time highs. Table 3: Local Receipts 17 November 20, 2024 �������g��� �����. �,, ~�� �.' �, � - � �`° � �r�: '� _ `'�� '� = fj 1 ��t ��� ff ■ ■ ■ ���������� �` Town of Lex�n ton - FY2026 Revenue Pro ect�ons � Table 3-I: Local Receipt Detail - Licenses & Permits Local Receipt Category FY2020 FY2021 FY2022 FY2023 FY2024 2025 2026 3-Year 5-Year Actual Actual Actual Actual Actual Estimated Pro�ected Average Average Licenses & Permits $3,021,668 $ 3,542,913 $ 3,171,809 $5,840,007 $3,226,257 $ 3,194,850 $ 3,016,300 $ 4,079,359 $ 3,760,530 SELECT BOARD'S LIC.&PERMITS $ 2,770 $ 3,560 $ 4,290 $ 3,640 $ 5,035 $ 2,500 $ 4,000 $ 4,322 $ 3,859 CABLE FRANCHISE LICENSE $ 1,913 $ 3,715 $ 1,239 $ - $ - $ 3,000 $ - $ 413 $ 1,373 ALCO H O L&B EVE RAG E L I C $ 71,575 $ 67,250 $ 76,800 $ 75,050 $ 73,350 $ 75,000 $ 73,000 $ 75,067 $ 72,805 TOWN CLERK'S LIC&PERMITS $ 42,255 $ 46,366 $ 51,460 $ 51,110 $ 51,110 $ 45,000 $ 49,000 $ 51,227 $ 48,460 MISC.LICENSE&PERMITS $ 4,225 $ 4,943 $ 4,450 $ 4,853 $ 4,375 $ 2,000 $ 4,000 $ 4,559 $ 4,569 FIREARMS LICENSE $ 3,188 $ 5,100 $ 3,900 $ 3,313 $ 4,863 $ 3,000 $ 4,000 $ 4,025 $ 4,073 F I RE D E PT L I C.&P E RM I TS $ 55,480 $ 55,120 $ 55,450 $ 55,605 $ 50,725 $ 50,000 $ 54,000 $ 53,927 $ 54,476 B U I L D I N G P E RM I TS $ 2,144,214 $ 2,564,055 $ 2,098,377 $ 4,130,720 $ 2,159,554 $ 2,300,000 $ 2,100,000 $ 2,796,217 $ 2,619,384 GAS P E RM I TS $ 26,316 $ 24,795 $ 23,196 $ 38,722 $ 35,549 $ 26,000 $ 26,000 $ 32,489 $ 29,716 W I RI N G P E RM I TS $ 304,609 $ 371,267 $ 384,996 $ 538,228 $ 406,167 $ 320,000 $ 320,000 $ 443,130 $ 401,053 P L U M B I N G P E RM I TS $ 67,267 $ 77,554 $ 66,169 $ 118,006 $ 101,389 $ 70,000 $ 70,000 $ 95,188 $ 86,077 S H E ET M ETAL P E RM I TS $ 59,575 $ 34,968 $ 95,016 $ 99,037 $ 54,939 $ 50,000 $ 50,000 $ 82,997 $ 68,707 M EC HAN I CAL P E RM I TS $ 87,916 $ 83,668 $ 108,895 $ 559,089 $ 107,584 $ 125,000 $ 125,000 $ 258,523 $ 189,430 B&Z MISC PERMITS $ 4,360 $ 5,465 $ 4,390 $ 1,315 $ 940 $ 5,000 $ 2,000 $ 2,215 $ 3,294 SHORT TERM RENTAL LIC& PERM IT $ - $ - $ - $ 250 $ 1,150 $ - $ 200 $ 467 $ 280 DPW STREET OPENING PERMITS $ 127,485 $ 141,375 $ 119,610 $ 49,096 $ 58,031 $ 75,000 $ 50,000 $ 75,579 $ 99,120 RIGHT OF WAY OBSTRUCTION $ 200 $ 150 $ 100 $ 100 $ - $ 100 $ 100 $ 67 $ 110 STORM WATER/DRAIN PERMIT $ 260 $ 660 $ 431 $ 4,843 $ 981 $ 2,000 $ 1,000 $ 2,085 $ 1,435 DRAI N LAYERS LICENSE $ 1,200 $ 990 $ 1,050 $ 1,200 $ 780 $ 1,250 $ 1,000 $ 1,010 $ 1,044 B OARD O F H EALTH L I C.&P E RM I TS $ 16,860 $ 51,912 $ 71,990 $ 105,830 $ 109,735 $ 40,000 $ 83,000 $ 95,852 $ 71,265 Note: FY2026 projections are based on 3- and 5-year historical averages, with adjustments applied for economic conditions and local trends. Table 3: Local Receipts 18 November 20, 2024 �������g��� �����. �,, ~�� �.' �, � - � �`° � �r�: '� _ `'�� '� = fj 1 ��t ��� ff ■ ■ ■ ���������� �` Town of Lex�n ton - FY2026 Revenue Pro ect�ons � Table 3-J: Local Receipt Detail - Special Assessments Local Receipt Category FY2020 FY2021 FY2022 FY2023 FY2024 2025 2026 3-Year 5-Year Actual Actual Actual Actual Actual Estimated Pro�ected Average Average Special Assessments $ 19,781 $ 25,644 $ 18,165 $ 13,531 $ 10,370 $ 10,433 $ $ 14,022 $ 17,498 STREET BTMT PD IN ADVANCE $ 4,848 $ 11,882 $ 6,666 $ - $ - $ - $ - STREET BTMT PRINCIPAL $ - $ - $ - $ - $ 7,900 $ 8,043 $ - STREET BTMT INTEREST $ 14,933 $ 13,762 $ 11,499 $ 13,531 $ 2,470 $ 2,390 $ - Note: FY2026 projections are based on actual principal and interest payments scheduled for billing in future years, with no assumptions for advance payments. The Municipal Modernization Act requires that betterment payments for debt issued after November 2016 be segregated into a separate fund to pay debt service. Table 3-K: Local Receipt Detail - Fines & Forfeitures Local Receipt Category FY2020 FY2021 FY2022 FY2023 FY2024 2025 2026 3-Year 5-Year Actual Actual Actual Actual Actual Estimated Pro�ected Average Average Fines & Forfeitures $ 152,653 $ 59,821 $ 79,398 $ 111,594 $ 172,123 $ 98,000 $ 116,000 $ 121,037 $ 115,118 PARKI N G F I N E S $ 49,360 $ 11,640 $ 12,840 $ 22,795 $ 37,188 $ 30,000 $ 25,000 $ 24,274 $ 26,765 NON CRIMINAL FINES $ 4,285 $ 940 $ 320 $ 4,130 $ 7,980 $ 2,000 $ 3,000 $ 4,143 $ 3,531 REGISTRY CMVI $ 97,442 $ 46,598 $ 65,638 $ 83,299 $ 125,180 $ 65,000 $ 87,000 $ 91,372 $ 83,631 COURT FINES $ 1,566 $ 643 $ 600 $ 1,370 $ 1,775 $ 1,000 $ 1,000 $ 1,248 $ 1,191 Notes: FY2026 projections are based on 3-and 5-year historical averages, with adjustments applied for economic conditions and local trends. The Town paused during enforcement during the pandemic and Center Streetscape construction, but resumed this operation during FY2023. Table 3-L: Local Receipt Detail - Investment Income Local Receipt Category FY2020 FY2021 FY2022 FY2023 FY2024 2025 2026 3-Year 5-Year Actual Actual Actual Actual Actual Estimated Pro�ected Average Average Investment Income $ 1,297,265 $ 277,170 $ 281,726 $4,401,414 $7,825,208 $ 1,000,000 $ 1,000,000 $ 4,169,449 $ 2,816,556 INT EARNED ON SAVINGS $ 1,297,265 $ 277,170 $ 281,726 $ 4,401,414 $ 7,825,208 $ 1,000,000 $ 1,000,000 $ 4,169,449 $ 2,816,556 Note: FY2026 projections reflect current interest rates and fund balances. As of November 2024, the Town's main savings account interest rate was 4.8% compared to 5.6% in November 2023, 4.0% in November 2022 and 0.1% in November 2021. Table 3: Local Receipts 19 November 20, 2024 �������g��� �����. �,, ~�� �.' �, � - � �`° � �r�: '� _ `'�� '� = fj 1 ��t ��� ff ■ ■ ■ ���������� �` Town of Lex�n ton - FY2026 Revenue Pro ect�ons � Table 3-M: Local Receipt Detail - Miscellaneous Non-Recurring Local Receipt Category FY2020 FY2021 FY2022 FY2023 FY2024 2025 2026 3-Year 5-Year Actual Actual Actual Actual Actual Estimated Pro�ected Average Average Miscellaneous Non-Recurring $ 754,943 $ 987,817 $ 903,031 $ 631,745 $ 459,968 $ $ $ 664,915 $ 747,501 MISC.NON-RECURRING REVENUE $ 429,999 $ 733,154 $ 702,873 $ 402,541 $ 374,640 $ - $ - MISC.STATE REVENUE $ 7,913 $ 31,722 $ 1,324 $ 48,305 $ 17,294 $ - $ - MISC.FEDERAL REVENUE $ 16,903 $ 9,617 $ 6,713 $ 8,030 $ 13,450 $ - $ - SUPPLEMENTAL BILLING $ 300,128 $ 213,324 $ 192,121 $ 172,869 $ 54,584 $ - $ - Note: No estimate is made for this category of revenue as it is unpredictable and `non-recurring' by nature. This category includes rebates for installation of green energy equipment in Municipal and School buildings, rebates from recycling school technology, rebates from procurement card (Pcard)expenses, and revenue from sales of surplus property. Supplemental Property Tax revenue is included as Misc. Non-Recurring Revenue per State statute. Table 3: Local Receipts 20 November 20, 2024 �������g��� �����. �,, ~�� �.' �, � - � �`° � �r�: '� _ `'�� '� = fj 1 ��t ��� ff ■ ■ ■ ���������� �` Town of Lex�n ton - FY2026 Revenue Pro ect�ons � Table 4-A: Available Funds Appropriated Available Fund Category FY2020 FY2021 FY2022 FY2023 FY2024 FY2025 FY2026 Projected Parking Fund $ 425,750 $ 562,000 $ 828,237 $ - $ 100,000 $ 250,000 $ 425,500 Cemetery Sale of Lots Fund $ 64,380 $ 40,480 $ 51,933 $ 16,125 $ 50,408 $ 123,000 $ 123,000 Free Cash* $ 12,201,094 $ 9,468,456 $ 14,638,059 $ 15,519,832 $ 15,919,159 $ 15,876,966 $ 23,000,000 Health Claims Trust Fund $ 750,000 $ 750,000 $ 750,000 $ 750,000 $ 240,000 $ 32,270 $ - Capital Stabilization Fund $ - $ - $ - $ - $ - $ - $ - Transportation Demand Management Stab. Fund $ 141,000 $ 141,000 $ 141,000 $ 141,000 $ 171,000 $ 171,000 $ 171,000 Traffic Mitigation Stabilization Fund $ - $ - $ - $ 240,000 $ 80,000 $ - $ - Transportation Management Overlay District � _ � _ � - $ 65,000 $ 42,000 $ - $ - (TMOD)Stabilization Fund Center Improvement District Stabilization Fund $ 27,000 $ - $ - $ - $ - $ - $ - Special Education Stabilization Fund $ - $ - $ 500,000 $ - $ - $ - $ - PEG Access Special Revenue Fund $ 638,918 $ 620,711 $ 629,287 $ 637,576 $ 586,833 $ 646,214 $ 548,090 Transportation Network Company(TNC)Special � - � 16,504 $ 20,889 $ 6,824 $ 7,684 $ 13,234 $ 18,043 Revenue Fund Balances from Prior Year Capital Articles $ - $ - $ 155,974 $ 266,923 $ - $ - $ - BAN Premium Proceeds $ - $ - $ 110,000 $ - $ 70,000 $ 30,000 $ - Betterments Special Revenue Fund $ 16,000 $ 6,200 $ - $ - $ 11,500 $ 1,000 $ 2,000 Visitors Center Stabilization Fund $ - $ 200,000 $ - $ - $ 50,000 $ 50,000 $ 50,000 Total Available Funds $ 14,264,142 $ 11,805,351 $ 17,825,379 $ 17,643,280 $ 17,328,584 $ 17,193,684 $ 24,437,633 *FY2024 Free Cash(for use in FY2026 Projected)is a preliminary estimate,subject to certification by the Department of Revenue. Use of Capital Stabilization Fund to Mitigate � 5,200,000 $ 4,600,000 $ 2,800,000 $ 800,000 $ 500,000 $ $ Exempt Debt** Total Use of Capital Stabilization Fund $ 5,200,000 $ 4,600,000 $ 2,800,000 $ 800,000 $ 500,000 $ $ **Shown for informational purposes only,as Exempt Debt is not part of general operating revenues. Table 4-A: Available Funds 21 November 20, 2024 �������g��� �����. �,, ~�� �.' �, � - � �`° � �r�: '� _ `'�� '� = fj 1 ��t ��� ff ■ ■ ■ ���������� �` Town of Lex�n ton - FY2026 Revenue Pro ect�ons � Table 4-B: Parking Fund FY2020 FY2021 FY2022 FY2023 FY2024 2025 2026 Actual Actual Actual Actual Actual Estimated Projected Beginning Balance $ 1,154,246 $ 1,176,808 $ 753,112 $ 111,921 $ 407,240 $ 737,689 $ 787,689 Budgeted Expenses -Total $ (425,750) $ (562,000) $ (828,237) $ $ (100,000) $ (250,000) $ (425,500) DPW Administration (3110) $ (1,700) $ (1,700) $ (1,700) $ $ $ $ Highway Maintenance (3210) $ (71,200) $ (71,200) $ (71,200) $ $ $ $ (39,000) Police Administration (4110) $ $ $ $ $ $ $ Patrol & Enforcement (4120) $ (18,200) $ (18,200) $ (18,200) $ $ $ $ Traffic Bureau (4130) $ (293,900) $ (293,900) $ (293,900) $ $ (100,000) $ (250,000) $ (386,500) Capital/Debt Service $ (40,750) $ (177,000) $ (443,237) $ $ $ $ Total Collected $ 448,312 $ 138,305 $ 187,046 $ 295,319 $ 430,449 $ 300,000 $ 425,500 Parking Meter Revenue $ 301,598 $ 137,328 $ 148,834 $ 160,144 $ 168,090 $ 175,000 $ 175,000 Parking Permit Revenue $ 61,019 $ (399) $ $ 57,215 $ 60,552 $ 60,000 $ 60,500 Parking Lot Revenue $ 83,859 $ $ $ $ $ $ Electric Vehicle Charges $ $ 1,376 $ 7,738 $ 12,961 $ 20,182 $ 15,000 $ 15,000 Pay-by-Phone Charges $ $ $ 30,474 $ 64,999 $ 181,624 $ 50,000 $ 175,000 Returned Capital Funds $ 1,836 $ $ $ $ $ $ Ending Balance $ 1,176,808 $ 753,112 $ 111,921 $ 407,240 $ 737,689 $ 787,689 $ 787,689 Note: Appropriations in all years include funds for the costs incurred in the Police and Public Works departments in support of the Town's parking programs. FY2020 reflects the cost of electric vehicle charging stations, offset by returned funds from an earlier capital project. FY2021 reflects the cost of acquiring the lot at Edison Way from the Historical Society. FY2022 reflects the cost of updates to the parking system. In FY2023, operating budget offsets were temporarily suspended due to insufFicient fund balance. In FY2024 and FY2025, moderate ofFsets supported operations as the fund balance began to rebuild. In FY2026, the fund will offset the cost for Traffic Bureau stafF and the Pay-By-Phone app contract, as well as the partial cost for parking lot plowing during snow events. Table 4-6: Parking Meter Fund 22 Updated as of November 20, 2024 �������g��� �����. �,, ~�� �.' �, � - � �`° � �r�: '� _ `'�� '� = fj 1 ��t ��� ff ■ ■ ■ ���������� �` Town of Lex�n ton - FY2026 Revenue Pro ect�ons � Table 4-C: Free Cash History Beginning Receipts in Expenditures Appropriations from Certified Free Free Cash Excess of less than Misc. Factors F.C. and other Cash Estimates Appropriated adjustments FY2001 $ 1,836,400 $ 3,086,536 $ 1,208,713 $ $ (692,645) $ 5,439,004 FY2002 $ 2,250,004 $ (603,164) $ 487,229 $ $ $ 2,135,507 FY2003 $ 1,495,174 $ (372,684) $ 232,472 $ $ (39,959) $ 1,315,003 FY2004 $ 1,315,003 $ (301,684) $ 588,899 $ $ $ 2,323,303 FY2005 $ 2,123,303 $ 1,732,103 $ 333,862 $ 1,852,214 $ (715,232) $ 5,409,985 FY2006 $ 5,409,985 $ 3,385,764 $ 429,318 $ $ (5,422,720) $ 3,802,347 FY2007 $ 3,802,347 $ 2,462,181 $ 1,966,642 $ 432,693 $ (3,802,347) $ 4,861,516 FY2008 $ 4,861,516 $ 2,084,646 $ 2,967,150 $ 429,921 $ (4,861,516) $ 5,481,717 FY2009 $ 5,481,717 $ 1,669,160 $ 3,113,850 $ 1,376,499 $ (5,481,717) $ 6,159,509 FY2010 $ 6,159,509 $ 2,476,716 $ 3,772,879 $ 875,405 $ (6,159,509) $ 7,125,000 FY2011 $ 7,125,000 $ 2,392,461 $ 4,797,523 $ 953,116 $ (7,125,000) $ 8,143,100 FY2012 $ 8,143,100 $ 3,800,023 $ 5,889,241 $ 2,911,667 $ (8,143,100) $ 12,600,931 FY2013 $ 12,600,931 $ 3,751,452 $ 4,417,500 $ 1,260,573 $ (11,727,331) $ 10,303,125 FY2014 $ 10,303,125 $ 4,677,709 $ 7,407,913 $ 422,581 $ (9,703,125) $ 13,108,202 FY2015 $ 13,108,202 $ 4,858,093 $ 4,432,010 $ 1,841,084 $ (12,764,202) $ 11,475,187 FY2016 $ 11,475,187 $ 3,825,713 $ 7,168,120 $ 2,002,674 $ (10,383,826) $ 14,087,868 FY2017 $ 14,087,868 $ 3,855,319 $ 8,231,557 $ 157,028 $ (13,269,721) $ 13,062,051 FY2018 $ 13,062,051 $ 5,276,255 $ 8,026,582 $ (499,215) $ (12,464,579) $ 13,401,094 FY2019 $ 13,401,094 $ 2,227,122 $ 8,016,944 $ 1,272,711 $ (12,201,094) $ 12,716,777 FY2020 $ 12,716,777 $ 1,494,398 $ 11,086,531 $ 1,544,334 $ (9,503,981) $ 17,338,059 FY2021 $ 17,338,059 $ 3,053,162 $ 10,158,418 $ 472,749 $ (14,638,059) $ 16,384,329 FY2022 $ 16,384,329 $ 4,128,361 $ 8,719,918 $ 3,325,121 $ (15,438,570) $ 17,119,159 FY2023 $ 17,119,159 $ 8,987,103 $ 7,729,545 $ (884,517) $ (15,919,159) $ 17,032,132 FY2024 $ 17,032,132 $ 10,200,000 $ 11,950,000 $ (305,166) $ (15,876,966) $ 23,000,000 Notes: The table above shows the factors that drive the annual certification of free cash. The FY2024 value is an estimate and has not been certified by the Department of Revenue. Table 4-C: Free Cash History 23 November 20, 2024 �������g��� �����. �,, ~�� �.' �, � - � �`° � �r�: '� _ `'�� '� = fj 1 ��t ��� ff ■ ■ ■ ���������� �` Town of Lex�n ton - FY2026 Revenue Pro ect�ons � Table 5-A: Reven ue Offsets Revenue Offset Category FY2020 FY2021 FY2022 FY2023 FY2024 2025 2026 Actual Actual Actual Actual Actual Estimated Pro�ected Cherry Sheet Assessments $ (937,092) $ (990,747) $ (1,048,843) $ (1,003,631) $ (981,462) $ (1,112,390) $ (1,116,126) Cherry Sheet OfFset- Public Libraries $ (51,915) $ (63,823) $ (53,560) $ (77,628) $ (82,531) $ (91,318) $ (94,514) Overlay(abatements) $ (900,000) $ (750,000) $ (900,000) $ (750,000) $ (750,000) $ (750,000) $ (750,000) Snow Deficit $ $ $ $ $ $ $ (400,000) Total Revenue Offsets $ (1,889,007) $ (1,804,570) $ (2,002,403) $ (1,831,259) $ (1,813,993) $ (1,953,708) $ (2,360,640) Notes: FY2026 Cherry Sheet Assessments reflect level funding from FY2025 assessments. $400,000 was set-aside for a snow deficit in FY2024, but was ultimately not needed and therefore re-allocated at the recent Fall Special Town meeting. Table 6-A: Enterprise Receipts Enterprise Fund FY2020 FY2021 FY2022 FY2023 FY2024 2025 2026 Actual Actual Actual Actual Actual Estimated Pro�ected Water $ 894,573 $ 930,001 $ 918,245 $ 977,093 $ 1,011,340 $ 968,301 $ 980,573 Wastewater(Sewer) $ 532,094 $ 541,663 $ 514,111 $ 542,416 $ 588,040 $ 596,525 $ 600,953 Recreation & Community Programs $ 269,681 $ 277,771 $ $ 286,104 $ 294,687 $ 308,991 $ 318,261 Total Enterprise Recei pts $ 1,696,348 $ 1,749,435 $ 1,432,356 $ 1,805,613 $ 1,894,067 $ 1,873,817 $ 1,899,787 Notes: FY2026 amount for initial projections for Enterprise Indirect charges (General Fund revenue)are current estimates. Final figures may vary slightly compared to this placeholder amount as Finance Dept. stafF complete a detailed analysis. Tables 5 and 6: Revenue OfFsets and Enterprise Receipts 24 November 20, 2024 �������g��� �����. �,, ~�� �.' �, � - � �`° � �r�: '� _ `'�� '� = fj 1 ��t ��� ff ■ ■ ■ ���������� �` Town of Lex�n ton - FY2026 Revenue Pro ect�ons � Table 7-A: Revenues Set-Aside for Designated Purposes Revenue Set-Asides FY2020 FY2021 FY2022 FY2023 FY2024 FY2025 FY2026 Projected Set-Aside for as yet to be identified needs $ $ $ $ $ $ $ 1,000,000 Set-Aside for Unanticipated Current Fiscal � � � � � $ $ 200,000 Year Needs Appropriate from Capital Stabilization Fund $ $ $ $ $ $ Support of Community Center Program � 208,859 $ 618,916 $ 509,215 $ 242,790 $ 256,675 $ 272,708 $ 254,213 (Transfer to Article 12) Appropriate into Capital Stabilization Fund $ 2,269,456 $ $ 3,787,974 $ 4,394,724 $ 4,432,518 $ 8,399,172 $ 6,563,050 Appropriate into Transportation Demand � � $ 200,000 $ $ $ $ Management Stabilization Fund Cash Capital $ 5,275,858 $ 4,775,531 $ 6,806,505 $ 11,049,906 $ 13,299,438 $ 13,769,681 $ 19,555,279 Cash Capital - Non-General Fund $ 40,750 $ 193,504 $ 464,126 $ 311,824 $ 129,685 $ 168,234 $ 18,043 Other Post-Employment Benefit Liability � 1,879,721 $ 750,000 $ 1,879,721 $ 1,929,721 $ 1,979,721 $ 2,029,721 $ 2,079,721 (OPEB) Special Education Stabilization Fund $ $ $ $ $ 500,000 $ $ 500,000 Special Education Reserve $ $ $ $ $ 750,000 $ $ Street Improvement Program $ 2,616,801 $ 2,634,022 $ 2,651,674 $ 2,669,767 $ 2,688,312 $ 2,707,321 $ 2,726,806 Building Envelope Program $ 203,865 $ 208,962 $ 214,186 $ 219,540 $ 225,029 $ 230,655 $ 236,421 Senior Tax Work-OfF Program $ $ $ 15,000 $ 15,000 $ $ 15,000 $ 15,000 Opioid Settlement Programs $ $ $ $ 225,108 $ 187,927 $ $ Other $ $ $ 150,000 $ 125,570 $ $ 500,000 $ Total Set Asides for Designated Uses $ 12,495,310 $ 9,180,935 $ 16,678,401 $ 21,183,950 $ 24,449,305 $ 28,092,492 $ 33,148,533 *In FY2020, FY2021 and FY2023 $700K was set aside to eliminate Free Cash from the Operating Budget-those funds were used for Cash Capital, and is captured in that total amount. Beginning in FY2023 the Town received funds associated with national opioid settlement agreements. These funds were originally appropriated in the General Fund, but beginning in FY2025 these funds may be set-aside for their designated purpose and spent without further appropriation. Table 7-A: Revenue Set-Asides 25 November 20, 2024 �.��� ��_ ����. 0 .� — s � --. —� �, � �c ��. F= ��_ � _ � � _ ���� � ��_ _ �� � � _� ,� � � �� � � � — � � �, � � � �� —� � � � �; � �� � � � �� _" � � � � � �s � � � �� � - � � � � �. � � �`. � � ��, _ _. ,� � �' . � �.� � �` � � �� � � _: �. _ � �a � _.._ � �_ ��_� � a. . e� , �_—. : � - �- � �: '- = E� - �:_ _ _ _ y� < <, � M �4 �� _ -� ` �_ � � � — ����� � � ��s����� �� • • • • FY2026 Revenue Allocation Model $310,899.763 Projected FY2026 Revenue Shared Municipal School (1) $ (140,508.367) $ $ $(140,508.367) FY2025 School Budget (2) $ (49,310.536) $ $(49,310.536) $ FY2025 Municipal Budget+Community Center Support (3) $ (3,747.035) $ (3,747.035) $ $ FY2026 Minuteman (4) $ (11,521.504) $ (11,521.504) $ $ FY2026 Contributory Retirement (5) $ (41,412.958) $ (41,412.958) $ FY2026 Benefits (6) $ (200.000) $ (200.000) $ $ FY2026 Unemployment (7) $ (500.000) $ (500.000) $ $ FY2026 Workers' Comp (8) $ (1,277.696) $ (1,277.696) $ $ FY2026 Property and Liability Insurance (9) $ (200.000) $ (200.000) $ $ FY2026 Uninsured Losses (10) $ (3 90.000) $ (3 90.000) $ $ FY2026 Solar Production Payment (11) $ (6,035.947) $ (6,035.947) $ $ FY2026 Debt Service (12) $ (850.000) $ (850.000) $ $ FY2026 Reserve Fund (13) $ (112.128) $ (112.128) $ $ Refuse&Recycle Collection for Muni& School Buildings (14) $ (15,239.743) $ (15,239.743) $ $ FY2026 Facilities Department Budget (15) $ $ (20.000) $ $ Facilities PIRs $ (1,000.000) $ $ Set-Aside for as yet to be identified FY2026 needs $ (200.000) $ $ Unanticipated Current Fiscal Year Needs FY2025 $ (500.000) $ $ Special Education Reserve/ Stabilization Fund $ (6,563.050) $ $ Tax Levy Dedicated to Capital Stabilization Fund 16 32 894.320 � �18,823.322) $ $ Cash Capital -Free Cash and Other Available Funds � � � � ' � h i 1 - T xL $ (750.000) $ $ Cas Cap ta a evy $ (2,079.721) $ $ OPEB (Free Cash) $ (2,726.806) $ $ Street Improvement Program(Tax Levy) $ (23 6.421) $ $ Building Envelope Program(Tax Levy) $ (15.000) $ $ Senior Tax Work-Off Program(Free Cash) (17) $ (304,200.233) $ (114,401.330) $(49,310.536) $(140,508.367) Base Budget-Used for Allocation 26.0 % 74.0 % Percentage -Municipal and School Only (18) $6,699.530 $1,740.382 $4,959.148 Incremental Revenue 3.53 % 3.53 % Percent of Current Budget ��>> ���`� ���, • ���� ;� ��� ��� � �: �� a �- � �� �' • • � � a F ; � �4 � A` � ��� �,���������_ ,. � � � `��� ��� � � �� �� � � �� � � °�� � �, � _. � �� � ��1�� �'� �� ������� ���������� ����� � ��� �� � �� ���� ���� ��� � � t . � � = _ _ � ���� ���� �� ����I������= ��-��- �� �� } � � � � � _ � , , , , ���� ���� � �..��� (����� „ �� ,� �� � � � c � ����I ( �����I�� ������ ���� � � � � � � � - _ _ , �c e _ e � _ � � � �� ���� � � ��� ��� �� � �� � �� ,� �� � ��- � �� � � � > > > > - _ - - - � ���� ������� � ����� �� c��� � �� �, � �� ����= � � � ��. ���� c _ � � ���� ������� � ����� ����� �� = �� � � � � � �� � _ � c � � �� ������ � ��� ���� � ��� ����� � � . � � _� _ — — � � � � ���� � � ��� �� ������ ���=� �� = ������ � ������ � c _ , � � � �_ ���i ��� �� � �� � �� � c��� � � � �� ������ �� ���� ��� � � ������� � � � � ������� � � ._ . � � ����i �� �c �c ������—.� ��� � ����� ������� ������� � � � � — — e � � — �� ��� �� ������ ��� ��� �� ����� � � s��.�� ���� � �� — t � ��� � � � � � � � — _ � � �_ — _ _ _ � �� ��� ������������ ��� ��� ���� ��� ���� = ��—��� - ��—��� �� _ � � � � � � � � c — c � _ � �� �..���i� �� � ������ - ���� � — � � � � � � � = t _ � _ _ = t = �� ���� �� . � � ������� � � ���������� � �� � � ��� ����� 2 ��>> ���`� ���, • ���� ;� ��� ��� � �: �� a �- � �� �' • • � � a F ; � �� � �„- �� ��� • • • ,� ����� . Anticl ated Summlt Outcomes ;�����__ � �.. p �������� . � - - � _ ��� �� �� ���� � - � � � � ��� � �������� � T��� ���� e _ � �. � ��� �� ��� � ����� ��:��_� � �� �� ���--� ��_���� � ��� �� �..��i�� =�� ������ ��=-��� -� �= ��� ��� , � ,_���� � _ �l=���� ��- ���� � ������� �� - - � � � = _��������- -F ���� _��� � � � ���� � �� ������ F � _�� ���� - _ � � �� ����i�� �� � �� ���� ������ ,_��� �������i�� � ��� �� ��� � -F ���� ���� = ���� _ � � � � �������� �� ���� � c�� �� ���� F ���� ���� ���� � � _ � ������� �i�� � �� ��� ��� � � �� � ���� ������� �� - _ _ � � - _� � �� ,. � - _ � � _ �� � ������ �.������ ������ � �����"����.�. �.�. ������ F ������. ���a� �� �� F �������� �'� - _ — — � ��� �� ` �..����� ��' ��� �� , ��� � �.. � ����� ; ��� � ��� ����� � f � f � � f � � 3 Q�� ������` • ��`����� ���� � ��. �� � �� �� • t�� � • ���� `'�- � ���� AF�1����' f1`� ���������1�, � � � � a 1a a lizalon un . . xem e �o ec lons 4 Q�� ������` • ��`����� ���� � ��. �� � �� �€ � �� � �=r • • • • • � �'��� .�= � ��� Ca ital Stabilization und � � p �� �����.� ���;�����. Capital Stabilization Fund Appropriations into the Capital Use of Capital Interest into Appropriations Stabilization Use of Capital Stabilization the Capital into the Capital Fund from Stabilization Fund for Stabilization Stabilization -i - Fund for Within Excluded Ending Fund Fund � * �evy Debt Debt* Balance FY2017 $196,058 $6,991,205 $0 $0 ($710,000) $23,203,209 FY2018 $428,826 $7,690,398 $0 ($324,500) ($2,400,000) $28,597,933 FY2019 $642,944 $3,560,336 $0 ($573,500) ($4,500,000) $27,727,713 FY2020 $432,085 $2,269,456 $0 $0 ($5,200,000) $25,229,254 FY2021 $44,804 $0 $0 $0 ($4,600,000) $20,674,058 FY2022 $68,929 $3,730,836 $57,138 $0 ($2,800,000) $21,730,961 FY2023 $882,099 $3,784,689 $1,733,137 $0 ($800,000) $27,330,886 FY2024 $1,506,133 $396,145 $4,036,373 $0 ($500,000) $32,769,537 FY2025 (est.) $284,188 $1,836,122 $6,563,050 $0 $0 $41,452,897 FY2026 (proj.) $0 $0 $6,563,050 $0 $0 $48,015,947 FY2027 (proj.) $0 $0 $6,563,050 $0 $0 $54,578,997 FY2028 (proj.) $0 $0 $0 $0 $0 $54,578,997 FY2029 (proj.) $0 $0 $0 $0 ($6,429,507) $48,149,490 FY2030 (proj.) $0 $0 $0 $0 ($8,669,552) $39,479,938 FY2031 (proj.) $0 $0 $0 $0 ($7,946,568) $31,533,370 FY2032 (proj.) $0 $0 $0 $0 ($6,835,047) $24,698,323 FY2033 (proj.) $0 $0 $0 $0 ($5,676,992) $19,021,331 FY2034 (proj.) $0 $0 $0 $0 ($4,470,076) $14,551,255 FY2035 (proj.) $0 $0 $0 $0 ($3,211,856) $11,339,399 FY2036 (proj.) $0 $0 $0 $0 ($1,899,766) $9,439,633 FY2037 (proj.) $0 $0 $0 $0 ($531,114) $8,908,518 FY2038 (proj.) $0 $0 $0 $0 $0 $8,908,518 *Appropriations into Capital Stabilization Fund dedicated from new levy growth is projected for FY2026 and FY2027. Use of Capital 5 Stabilization Fund for High School Construction project is estimated to begin in FY2029 and are based on current models. Actuals in future years are expected to vary. Q�� ������` • ��`����� ���� � ��. �� � �� �€ � �' � �� . A h ' m D ' ���� .�= � ��� Current ut orized Exe t ebt Servlce � � p �� �����.� ���;�����. e e = � _ � � � _ � � � _ � � � _ � � � _ � � � _ � � � _ � � _ � � _ � � _ � � _ � - = e e - � � - _ � � - �_ � _ FY24 FY25 FY26 FY27 FY28 FY29 FY30 FY31 FY32 FY33 FY34 Exem pt Debt(Issued) $ 16,811,649 $ 16,591,920 $ 16,100,441 $ 15,462,795 $ 14,701,017 $ 12,014,897 $ 10,350,771 $ 9,931,409 $ 9,688,701 $ 9,443,280 $ 9,220,095 Exem pt Debt-Unissued $ - $ - $ 516,000 $ 1,374,200 $ 1,338,200 $ 1,302,200 $ 1,266,200 $ 1,230,200 $ 1,194,200 $ 1,158,200 $ 1,122,200 Total Exempt Debt $ 16,811,649 $ 16,591,920 $16,616,441 $16,836,995 $16,039,217 $13,317,097 $11,616,971 $ 11,161,609 $ 10,882,901 $ 10,601,480 $10,342,295 • Between FY2028 and FY2030 approximately $4.4M ofi existing Exempt Debt service will roll ofifi as the Public Works building, Bridge/Bowman and Estabrook School will be fiully paid ofifi. • Remaining Exempt Debt includes Middle School Remodeling, Hastings School, Fire Station, Lexington Children's Place and the Police Station. 6 ��>> ���`� ���, • • • ��� ;�. � - �'�� � � � �r Pro ected Exem t Debt Service w �� � �� �� , l p ��� : � �4 � i �� . . . ��� � ` A- �� �� In-Lev Mltl atlon and CSF x� ������� . . Y g ������������_ _ � _ _� . . � ����������� ����������� ��� ��� ��� , __ _ _ __ _ _ - _ - _ _- -_ _ _- __ _ _ t � _ _ � � _ , _ , y- , _ _ _ _ - - - - - - -_ - _ - - - _ _ _ ��� ��� ��� ,= , _ _ __ _ _ __ - _ = _ � - _ _- -_ - _ _ _ _ == _ -- _ - _ __ - - __ � � - � _ , y- _- - - _ - - - - - - -_ - -_ - - _ - - __ - __ ��� ��� ��� _ _ - __ __ __ _= - _ -= _- _� - _ __ _- -_ - _ - _ _ _ _ _ _ _ _ _ _ = � � � � � ,_ , � y- - - _ -_ - - - __ _ - - - _ _ _- -- - - _ -_ - - _ _ - _ _ _� ��� ��� ��� _ _ - _ _- _- _- __ _ - _ -= _- _� - _ __ _- -_ - _ - _ _ _ _ _ _ _ _ - __ � = � _ � � _- � y_ _ - _- - _ -_ - - - __ _ - - - _ _ _- -- - - _ -_ - - � _ - -_ ; � � � ��� ��� ��� � �� ���- = __ - _ _- _- _- __ _ - _ -= _- _� - _ __ _- -_ - _ - _ _ _ _ _ _ _ � _ - __ = - = � � _ - - - - __ _ _ _ _ _ _ _ _ _ _ __ _ _ _ _ _ _ _ _ � � _ � - _ � _ �_ �_ �_ _ _ - - _ _ - - - _ _ - _ _ _ _ _ - _ � - _ - - _ - - �= __ � _ = _�� � , _ ��„ „- _�_, „ ,- _� , __ ,�_ _-_ __ _ __ _� - __ - _ _ _ _- _ _ __ -_ _ __- - - __ _ _ _- -_ - __- _ _ _ _ __ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ � a_ _- _- -_ _ _-_ _ -- --- --- _ __ __ _ _- - -- -_ -_ -- - - -_ _ -- -- - - -_ -_ - _ _ - __ __ _ � �_ __ _ _ _ __ _ _ _ _ _ _ _ _ _ _ __ __ _ _ __ _ __ _ _ _ _ _ _ _ �, _ _- __ _- _- -_ ___ _ _ _ _ �,_ _ _ _ _ . �,_ _ � � � � � � � � , �� _ _ . _ � � � � � � �� _ _ __ __ __ __ __ __ __ __ __ __ _ �, __ __ __ _ __ __ __ __ _ � __ ___ ___ ___ __ _______ ______ ___ �, _ __ _ _ � � _ _ _ ,� � �, __ __ __ _ _ _ _ __ __ �___ __ __ _ _ __ _ _ _ _ _ _ _ ��_ � __ _� � _ �_ _� _� _ __�� __ � _ _ _, _ __ __ __ __ __ __ __ __ __ __ _�,_� _ _ _ __ _ _ _ _ __ _ __ �__ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ �, - - _ _ _ , , _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ �� _ _ _ __ _ _ _- _ _ _ _ _ _ _ _ _ _ � _ � _ _ � � _ _ _ __ _ _ _ _ _ _ _ _ _ � ---- ---_ - __- _ _ �_ _ _ __ _ _ _ _ __� _ _ _ � _ _ _ __ __ _ _ __ _ _ _ _� �_ _� _ _ � _ _ , _ , _ , � " � _ __ __ _ -- - - - - - - _ -- - - -- -- _ - - -- � �� �� _ � _ _ __ _ - � --_ __ __ - __ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ �_ - _ _ - _ - _ _ - _ _ - � _ _ _ _ _ � ___ __ __ � _ - = - _ _ - _ _ - _ - _ _ _- - - _ _ - _ - - - -- � __ = ;�_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ ��� ��� ��� � � __ _- - __ -- -- - - -- - - -- - - -_ -- _ - _- _- _ - - - - � � - _ _- „- __ -- __ __ __ __ _ _ __ __ _ _ _ __ __ __ _ _ _ __ ___ __ _ _ _ _ _ _ _ __ ._, - E . . - _ _ � � � _ _ _ _ � _ _ _ _ __ _ _ _ __ _ _ _ _ __ _ __ � , � � �� ��- -� �_ , _- �_ ��- �_ -� ,_ �- _�" �-� � �_ �- �_ �- � -� � �. �- � �� �_ � �- � _ _ _ � _ _ � _ _ _ _ � �- - -�- ,� - -- -_ - _ -_ _ __ - _ -_ __ -_ _- __ _ _ _ _ _ _ __ , - -: _ _ - �� � � _ _� __ __ ; � _ _ � _ _ _ � � _ _ __ �_ �_ �_- - - _ -- _ - __ _ - _-- - _ __ _- _ _- - - - � � -, ,_ __ , , _ _ _ _ _ _ _ _ _ _ _ _ _ � ,� _ ��� __ _- __ -- _ - - - - -_ - - - __ - - - - - - � - � __ _ __ _ _ _ _ __ __ __ __ __ _ _ __ __ __ �_ � _� � __ _ _ _ __ __ _ _ _ _ __ __ _� �_ _� �_ � _ ��, �:� �_� � , _ � � � � � �_-- � � � �_ __ ---- _--_ _-__ _ - - - _ �� _ � - t_ _ _- �� �_- _ ,� �- ���� � � _ �� � - ��� _ _ _ - _ _ _ _ _ _ ��� _ _ _ ���� _ _ - - � �� - - _ =__ � = - _ _ _ - -_ �� � � �� � _ __ __ � ��_ - - - -- - - - - - ��� ��� ��� ���. ,�- - � _ - - - -- _ - _ - �- _ E � � ��� ,� _ _ _ _ �, �� � � _ _ � _ _ _ � �-= = ���������������������,� _ � - = ��������������������� ,. _= � � � �� �- ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ������ ��k�� �I������ ������ ��k��� ��i����� _ L��i���� F�i�l� ��I���I F�����������i��� ��������� LF�� i�i���i�� Authorized Exempt Debt: FY25 FY26 FY27 FY28 FY29 FY30 FY31 FY32 FY33 FY34 FY35 FY36 FY37 FY38 Exem t Debt Issued $ 16,591,920 $ 16,100,441 $ 15,462,795 $ 14,701,017 $ 12,014,897 $ 10,350,771 $ 9,931,409 $ 9,688,701 $ 9,443,280 $ 9,220,095 $ 8,957,663 $ 7,697,233 $ 7,508,793 $ 7,314,705 Exem t Debt-Unissued $ - $ 516,000 $ 1,374,200 $ 1,338,200 $ 1,302,200 $ 1,266,200 $ 1,230,200 $ 1,194,200 $ 1,158,200 $ 1,122,200 $ 1,086,200 $ 810,200 $ 725,000 $ 702,500 Lexin ton Hi h School Reconstruction* $ 267,907 $ 11,775,569 $ 24,108,227 $ 33,304,134 $ 33,123,297 $ 32,942,460 $ 32,761,622 $ 32,580,785 $ 32,399,948 $ 32,219,111 $ 32,038,274 $ 31,857,436 Less:Debt Service Paid Within Le $ 6,563,050 $ 6,563,050 $ 6,563,050 $ 6,563,050 $ 6,563,050 $ 6,563,050 $ 6,563,050 $ 6,563,050 $ 6,563,050 $ 6,563,050 $ 6,563,050 Total Projected Exempt Debt Service $ 16,591,920 $ 16,616,441 $ 17,104,902 $ 21,251,736 $ 30,862,274 $ 38,358,055 $ 37,721,856 $ 37,262,311 $ 36,800,052 $ 36,360,030 $ 35,880,761 $ 34,163,493 $ 33,709,016 $ 33,311,591 Less:Debt Service Mitigation from CSF $ - $ - $ - $ - $ 6,429,507 $11,169,552 $ 7,946,568 $ 6,835,047 $ 5,676,992 $ 4,470,076 $ 3,211,856 $ 1,899,766 $ 531,114 Total Mitigated Debt Service AII Projects $ 16,591,920 $ 16,616,441 $ 17,104,902 $ 21,251,736 $ 24,432,767 $ 27,188,504 $ 29,775,287 $ 30,427,264 $ 31,123,060 $ 31,889,954 $ 32,668,905 $ 32,263,727 $ 33,177,902 $ 33,311,591 Taxpayer Impact of LHS(Median Value) $ 18 $ 352 $ 751 $ 1,052 $ 1,258 $ 1,321 $ 1,387 $ 1,456 $ 1,529 $ 1,605 $ 1,685 $ 1,709 *Assumed $645M construction cost and $105M MSBA Reimbursement; $540M debt issued (in varying increments firom FY2027-2029); components with level payment and level principal; 30 year terms; 4% interest; with $6,563,050 of annual debt service paid within the tax levy and $48M from CSF applied to mitigate debt service during 7 the `peak' from FY2029-2037. ��� ������ ��`����� ��` � ��.. � � ���� �� �� �� �; P � ��� - �'�}� �_ ��� � Future Meetin Dates � � g �� ������ ���;�����. . u ure ee �n a es: ' th th th • e ec oa r u e ea r�n s — ec , , - � � � s FY2026 Revenue Allocation Model $310,899.763 Projected FY2026 Revenue Shared Municipal School (1) $ (140,508.367) $ $ $(140,508.367) FY2025 School Budget (2) $ (49,310.536) $ $(49,310.536) $ FY2025 Municipal Budget+Community Center Support (3) $ (3,747.035) $ (3,747.035) $ $ FY2026 Minuteman (4) $ (11,521.504) $ (11,521.504) $ $ FY2026 Contributory Retirement (5) $ (41,412.958) $ (41,412.958) $ FY2026 Benefits (6) $ (200.000) $ (200.000) $ $ FY2026 Unemployment (7) $ (500.000) $ (500.000) $ $ FY2026 Workers' Comp (8) $ (1,277.696) $ (1,277.696) $ $ FY2026 Property and Liability Insurance (9) $ (200.000) $ (200.000) $ $ FY2026 Uninsured Losses (10) $ (3 90.000) $ (3 90.000) $ $ FY2026 Solar Production Payment (11) $ (6,035.947) $ (6,035.947) $ $ FY2026 Debt Service (12) $ (850.000) $ (850.000) $ $ FY2026 Reserve Fund (13) $ (112.128) $ (112.128) $ $ Refuse&Recycle Collection for Muni& School Buildings (14) $ (15,239.743) $ (15,239.743) $ $ FY2026 Facilities Department Budget (15) $ $ (20.000) $ $ Facilities PIRs $ (1,000.000) $ $ Set-Aside for as yet to be identified FY2026 needs $ (200.000) $ $ Unanticipated Current Fiscal Year Needs FY2025 $ (500.000) $ $ Special Education Reserve/ Stabilization Fund $ (6,563.050) $ $ Tax Levy Dedicated to Capital Stabilization Fund 16 32 894.320 � �18,823.322) $ $ Cash Capital -Free Cash and Other Available Funds � � � � ' � h i 1 - T xL $ (750.000) $ $ Cas Cap ta a evy $ (2,079.721) $ $ OPEB (Free Cash) $ (2,726.806) $ $ Street Improvement Program(Tax Levy) $ (23 6.421) $ $ Building Envelope Program(Tax Levy) $ (15.000) $ $ Senior Tax Work-Off Program(Free Cash) (17) $ (304,200.233) $ (114,401.330) $(49,310.536) $(140,508.367) Base Budget-Used for Allocation 26.0 % 74.0 % Percentage -Municipal and School Only (18) $6,699.530 $1,740.382 $4,959.148 Incremental Revenue 3.53 % 3.53 % Percent of Current Budget