The URL can be used to link to this page

Home My WebLink About2017-11-14 BOS Packet - Released Town of Lexington FY2019 Revenue Projections Town Manager's Office Finance Department Issued November 14, 2017 Town of Lexington Revenue Projections Revenue Executive Summary This revenue projection is being submitted to the Board of Selectmen as required under Section 13 of Chapter 753 of the Acts of 1968, as amended, An Act Establishing the Selectmen-Town Manager Form of Government in the Town of Lexington. The projection is based on the most current data available. As new information becomes available, the projections may be revised. The summarybelow presents Total General Fund Revenues and Net General Fund Revenues. Total General Fund Revenues are annually recurring and non-recurring sources of revenue including transfers from special revenue funds, Specialized Stabilization Funds and the Health Care Trust Fund. Net General Fund Revenues are Total General Fund Revenues less revenues recommended to be set-aside to fund designated expenses. In FY2019, Total General Fund Operating Revenues are projected to increase by approximately $9.2 million, or 4.3%. Net General Fund Revenues, those available to support school and municipal operating budgets, are projected to increase by FY2018-19 Change FY2018FY2019 General Fund Revenue Summary FY2016 ActualFY2017 ActualEstimatedProjected$% Property Tax Levy (Table 1)$ 161,865,816154,750,150$ 169,366,647$ 176,100,814$ 6,734,166$ 4.0% State Aid (Table 2)$ 13,308,48911,573,854$ 15,712,062$ 15,925,173$ 213,111$ 1.4% Local Receipts (Table 3)$ 15,270,86415,319,541$ 12,764,750$ 13,681,600$ 916,850$ 7.2% Available Funds (Table 4)$ 11,995,17115,654,839$ 14,834,463$ 14,490,809$ (343,654)$ -2.3% Other Available Funds - Use of Capital $ 710,000620,567$ 324,500$ 2,095,000$ 1,770,500$ 545.6% Stabilization Fund (Table 4a) Revenue Offsets (Table 5)$ (1,648,811)(2,938,339)$ (1,984,103)$ (2,116,796)$ (132,694)$ 6.7% Enterprise Receipts (Table 6)$ 1,629,1351,623,908$ 1,674,111$ 1,723,690$ 49,579$ 3.0% Total General Fund Operating $ 203,130,665196,604,519$ 212,692,430$ 221,900,289$ 9,207,859$ 4.3% Revenues Less - Revenues Set-Aside for $ 15,155,95916,168,222$ 19,077,898$ 16,957,906$ (2,119,992)$ -11.1% Designated Purposes Net General Fund Revenues180,436,298$ 187,974,706$ 193,614,532$ 204,942,383$ 11,327,851$ 5.9% Detailed Description: Property Tax Levy: The FY2019 property tax levy -net of excluded debt service -is projected to increase approximately $6.7 million, or 4.0%. The projected levy is a function of the FY2018 levy limit increased by 2.5% per Proposition 2 1/2, plus an increment for new growth. FY2019 new growth will be a function of construction activity for the period July 1, 2017 to June 30, 2018. FY2019 new growth is estimated at $2,500,000 based on a review of historical data on new growth. State Aid: In FY2019, Chapter 70 projections are based on a per-pupil minimum aid increase of $25 per student as the State is now fully funding Lexington's Foundation Aid under the Chaper 70 formula. No amounts above minimum aid are expected. Unrestricted General Government Aid is projected to increase 2.0% from its FY2018 level, with total state aid projected to increase 1.4% Final FY2018 state aid numbers are likely to be known in June 2018 when the Legislature adopts, and the Governor signs, the FY2019 State budget. Local Receipts:FY2019 projections for each category of receipt are based on the history of actual collections and projections of 3 and 5 year historical averages, unless otherwise specified in the supplemental tables of this document. FY2019 local receipts are estimated to increase by approximately $916,850 or 7.2% over FY2018 estimates. The primary contributor to this growth is from Motor Vehicle Excise receipts, as well as the renegotiation of leases on the Town's cell towers. FY2018 revenue was restatedtoreflect $600,000 in net metering credits from the Hartwell Avenue solar array, which is partially offset by $410,000 in payments to the Solar operator, both of which continue in FY2019 and beyond. Available Funds:Available Funds are projected to increase by approximately $1.4 million or 9.4%. This increase represents a net change driven by an approximately $185,000 decrease in Free Cash based on the preliminary estimate as of 7/1/17 compared to the amount that was appropriated to support the FY2018 budget; and a $26,500 increase in the use of the balance from the Cemetery Fund to reflect actual anticipated revenue in that Fund. In FY2019, it is proposed that $750,000 be used from the Health ClaimsTrust Fund to continue progress in funding the Town's OPEB liability, thus freeing up $750,000 in the tax levy. Another componentof Available Funds is the proposed use of $141,000 of the Transportation Demand Management Stabilization Fundto finance the Lexpress service and the Town's contribution to the REV Shuttle. In FY2018, $324,500 was appropriated from the Capital Stabilization Fund to fund the ongoing mitigation of the debt service impacts of the financing of large capital projects. It is proposedthat $2,095,000 be appropriated in FY2019 to continue mitigation of debt service to hold increases to a 5% target. 2 of 27 Revenue Executive Summary11/13/2017 Town of Lexington Revenue Projections Revenue Executive Summary Revenue Offsets: Revenue Offsets are projected to increase by approximately $133,000 or 6.7%. Revenue Offsets represent the set-aside of a portion of projected revenues needed for particular purposes including: (1) the component of state aid (Public Library aid reimbursement) that is distributed as Cherry Sheet aid, but, in fact, is acategorical 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. Cherry Sheet Assessments assume a 3.5% increase in FY2019; (3) the Assessor's Overlay account which covers the cost of abatements and exemptions granted to property taxpayers; and, (4) potential snow and ice deficits. The FY2019 increase in total revenue offsets is driven by the set-aside of $400,000 in estimated FY2019 revenue to cover a potential snow and ice deficit at the end of FY2018. The amount set-aside in FY2018 was $300,000, an increase of $100,000. Enterprise Receipts: Enterprise Receipts are preliminarily projected to increase 3%. This category of revenue represents transfers from the water, sewer and recreation enterprise funds to the General Fund to cover General Fund expenditures that support the operations of the water, sewer and recreation departments. These figures will be revised upon completion of an update of last year's indirect cost analyses that is currently in progress. Revenues Set Aside for Designated Purposes:This represents components of Total General Fund Revenues that are set aside for designated purposes. The proposed purposes are shown below. Revenues Set-Aside for Designated Expenses - FY2019 Financing Sources Tax LevyFree CashOtherTotalNotes 1Set-Aside for Unanticipated $ 200,000200,000$Reserved for appropriation at the 2018 Current Fiscal Year Needsannual town meeting to fund supplemental appropriations to the FY2018 budget. 2Other Post-Employment $ 1,829,7211,829,721$$750,000 from the tax levy made Benefits (OPEB)available from the proposed use of this amount from the Health Insurance Claims Trust Fund to fund FY2019 Health Insurance. 3Unallocated$ 1,000,0001,000,000$Set-aside for as yet to be identified FY2019 purposes. 4Cash Capital$ 3,700,0003,700,000$ 5Capital Stabilization Fund$ 1,934,089565,911$ 2,500,000$To meet future capital/debt service needs. 6Retire Note for Land $ 2,550,0002,550,000$To pay down notes issued for Pelham Purchasesand Bedford St. over 5 years. 7Appropriate From Capital $ 2,095,0002,095,000$Proposed use of Capital Stabilization Fund to hold debt service increases to Stabilization Fund 5% annually. 8Street Improvement $ 2,600,0002,600,000$Consistent with long-term street Programmaintenance plan. 9Municipal Building Envelope $ 198,893198,893$Initially funded in 2006 override; and Systemsincreases by 2.5% per year. 10Senior Service Program$ 30,00030,000$Tax work-off program. 11Warrant Articles$ 40,00040,000$Getting to Net Zero 12Set-Aside for Tax Levy $ 214,292214,292$ Support of Community Center Program (Transfer to 13Subtotal5,478,817$ 9,384,089$ 2,095,000$ 16,957,906$ 14Operating Budget$ 3,700,000-$ 3,700,000$$3,700,000 of Free Cash to support the FY2019 operating budget. 15Grand Total5,478,817$ 13,084,089$ 2,095,000$ 20,657,906$ 3 of 27 Revenue Executive Summary11/13/2017 Town of Lexington Revenue Projections Revenue Summary FY2018-19 Change FY2018 FY2019 FY2016 ActualFY2017 ActualEstimatedProjected$% Table 1: Property Tax Levy Tax Levy 148,286,733$ 154,781,455$ 161,960,336$ 169,366,647$ 7,406,312$ 4.6% Prop. 2.5%3,709,681$ 3,869,536$ 4,049,008$ 4,234,166$ 185,158$ 4.6% New Growth2,772,633$ 3,309,344$ 3,357,303$ 2,500,000$ (857,303)$ -25.5% Override/Excess Levy Capacity(18,897)$ (94,519)$ NANA Subtotal154,750,150$ 161,865,816$169,366,647$176,100,814$6,734,166$ 4.0% Table 2: State Aid Chapter 709,968,536$ 11,631,074$ 13,998,894$ 14,179,719$ 180,825$ 1.3% Charter School Reimbursement4,141$ 893$ 8,767$ 8,767$ -$ 0.0% Unrestricted General Government Aid1,412,809$ 1,473,560$ 1,531,029$ 1,561,650$ 30,621$ 2.0% Veterans' Benefits & Exemptions141,471$ 156,427$ 125,781$ 125,781$ -$ 0.0% Offsets (School Lunch & Library)46,897$ 46,535$ 47,591$ 49,257$ 1,666$ 3.5% Subtotal 11,573,854$ 13,308,489$ 15,712,062$ 15,925,173$ 213,111$ 1.4% Table 3: Local Receipts Motor Vehicle Excise Tax 4,953,052$ 5,350,418$ 4,600,000$ 5,080,000$ 480,000$ 10.4% Other Excise1,727,554$ 1,616,713$ 1,496,000$ 1,695,000$ 199,000$ 13.3% Penalties & Interest595,423$ 738,750$ 350,600$ 341,500$ (9,100)$ -2.6% PILOT's 569,564$ 589,351$ 596,000$ 614,000$ 18,000$ 3.0% Rentals 255,391$ 367,350$ 321,850$ 510,800$ 188,950$ 58.7% Departmental-Schools514,090$ 576,216$ 450,600$ 443,500$ (7,100)$ -1.6% Departmental-Municipal1,939,957$ 1,875,000$ 2,474,000$ 2,495,000$ 621,000$ 33.1% Licenses & Permits 2,578,503$ 2,827,036$ 1,812,570$ 1,893,550$ 80,980$ 4.5% Special Assessments27,645$ 26,230$ 17,830$ 17,250$ (580)$ -3.3% Fines & Forfeits274,569$ 214,000$ 302,300$ 246,000$ (56,300)$ -18.6% Investment Income332,126$ 573,023$ 343,000$ 345,000$ 2,000$ 0.6% Miscellaneous Non-Recurring1,551,666$ 516,777$ -$ -$ -$ --- Subtotal 15,319,541$ 15,270,864$ 12,764,750$ 13,681,600$ 916,850$ 7.2% Table 4: Available Funds Parking395,000$ 625,265$ 413,000$ 413,000$ -$ 0.0% Cemetery Perpetual Care Fund105,000$ 105,000$ 48,500$ 75,000$ 26,500$ 54.6% Cemetery Sale of Lots Fund-$ -$ 42,200$ -$ (42,200)$ -100.0% Free Cash*13,087,810$ 9,870,618$ 13,269,721$ 13,084,809$ (184,912)$ -1.4% Health Claims Trust Fund1,858,947$ 1,200,000$ 750,000$ 750,000$ -$ 0.0% Transp.Demand Mgmt. Stab. Fund137,000$ 137,000$ 141,000$ 141,000$ -$ 0.0% Traffic Mitigation Stabilization Fund $ 30,000-$ 25,000$ -$ (25,000)$ -100.0% Center Improvement District Stabilization Fund $ --$ 27,000$ 27,000$ -$ 0.0% School Bus Stabilization Fund-$ -$ 18$ -$ $ -100.0%(18) $ -100.0%(45) Avalon Bay School Enrollment Mitigation Fund$ --$ 45$ -$ $ -100.0%(117,979) Balances from Prior Yr. Capital Articles $ 27,082$ 117,288$ -,979$ 71 Subtotal15,654,839$ 11,995,171$ 14,834,463$ 14,490,809$ (343,654)$ -2.3% Table 4a: Other Available Funds pital Projects Stabilization Fund$ 710,567$ 324,000$ 2,500$ 1,095,000$ 545.6%,770,500 Ca620 Subtotal 620,567$ 710,000$ 324,500$ 2,095,000$ 1,770,500$ 546% Table 5: Revenue Offsets Cherry Sheet Assessments(850,735)$ (850,915)$ (886,512)$ (917,540)$ (31,028)$ 3.5% Cherry Sheet Offsets$ ---- School Lunch-$ -$ -$ -$ -$ --- Public Libraries(46,897)$ (46,535)$ (47,591)$ (49,257)$ (1,666)$ 3.5% Overlay (abatements)(750,000)$ (751,361)$ (750,000)$ (750,000)$ -$ 0.0% Health Withholding Account Deficit(647,057)$ -$ -$ -$ -$ --- Snow Deficit(643,650)$ -$ (300,000)$ (400,000)$ (100,000)$ 33.3% Subtotal (2,938,339)$ (1,648,811)$ (1,984,103)$ (2,116,796)$ (132,694)$ 6.7% Table 6: Enterprise Receipts Water$ 877,411898,614$ 872,458$ 898,632$ 26,174$ 3.0% Wastewater (Sewer)478,354$ 503,898$ 546,827$ 563,232$ 16,405$ 3.0% Recreation & Community Programs246,940$ 247,826$ 254,826$ 261,826$ 7,000$ 2.7% Subtotal 1,623,908$ 1,629,135$ 1,674,111$ 1,723,690$ 49,579$ 3.0% Gross General Fund Revenues196,604,519$ 203,130,665$212,692,430$221,900,289$9,207,859$ 4.3% Revenues Set Aside for Designated $ 15,155,95916,168,222$ 19,077,898$ 16,957,906$ (2,119,992)$ -11.1% Expenses Net General Fund Revenues Available for $ 187,974,706180,436,298$ 193,614,532$ 204,942,383$ 11,327,851$ 5.9% Appropriation 4 of 27 Revenue Summary11/13/2017 $$$$$$$$$ $$$$$$$$$$$$$ Actual Tax Levy Capacity $ 133,995,335$ 141,585,863$ 148,770,138$ 155,635,871$ 163,074,847$ 170,196,001 $ 53,158,361$ 54,713,901$ 56,940,636$ 58,929,377$ 61,144,139$ 68,734,888$ 72,771,765$ 75,795,919$ 82,189,495$ 91,156,424$ 94,760,661$ 101,074,790$ 110,206,659$ 116,338,164$ 121,667,460$ 127,955,723 Unused Tax rojects that are candidates for mitigate taxpayer impact. raised from Property Tax which may be $ 72,867$ 58,674$ 57,464$ 46,950$ 53,534$ 1,175$ 74,194$ 18,897$ 94,519$ NANA$ NANA $ 50,219$ 29,327$ 22,726$ 8,416$ 298,410$ 47,630$ 37,717$ 931$ 2,120$ 36,195$ 51,242$ 62,994$ 45,961 Allowable Amount Service $ 116,411,031$ 121,726,134$ 128,013,187$ 134,042,285$ 141,639,396$ 148,771,313$ 155,710,065 Exempt Debt $ 53,208,580$ 54,743,228$ 56,963,362$ 58,937,793$ 61,442,549$ 68,782,518$ 72,809,482$ 75,796,850$ 91,192,619$ 94,811,902$ 101,137,784$ 110,252,620$ 163,093,744$ 170,290,521$ 178,625,531$ 186,787,981 $ 82,191,615 Limit Total Tax Levy $ 5,632,642$ 5,746,384$ 5,753,550$ 5,379,620$ 6,199,081$ 6,927,654$ 7,423,332$ 8,324,697$ 8,330,185$ 9,258,883$ 10,687,168 $ 1,412,532$ 1,174,088$ 1,100,500$ 1,033,500$ 120,000$ 950,625$ 1,708,200$ 1,567,988$ 4,189,338$ 5,325,045$ 4,943,313$ 5,127,256$ 5,372,874 Voter Override Approved $ 110,778,389$ 115,979,750$ 122,259,637$ 128,662,664$ 135,440,316$ 141,843,659$ 148,286,733 $ 51,796,048$ 53,569,140$ 55,862,862$ 57,904,293$ 61,322,549$ 67,831,893$ 71,101,282$ 74,228,862$ 78,002,277$ 85,867,574$ 89,868,589$ 96,010,528$ 104,879,746$ 154,769,047$ 161,960,336$ 169,366,647$ 176,100,814 llowable New Construction $ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ - $ 1,500,000$ -$ -$ -$ -$ 3,440,829$ -$ -$ -$ 4,224,340$ -$ 1,858,435$ 3,981,589 A % 2 / 1 2 Increase Allowable $ 3,276,649$ 2,431,902$ 3,426,550$ 3,346,536$ 3,538,945$ 3,017,335$ 2,896,983$ 2,772,633$ 3,309,344$ 3,357,303$ 2,500,000 $ 325,180$ 478,191$ 954,493$ 644,859$ 1,970,649$ 1,535,451$ 1,573,592$ 1,350,048$ 1,915,573$ 1,854,326$ 2,036,789$ 2,485,650 $ 1,692,120 y Histor y Levy Limit Previous Year $ 2,621,994$ 2,769,460$ 2,898,368$ 3,056,491$ 3,217,107$ 3,386,008$ 3,709,681$ 3,869,536$ 4,049,008$ 4,234,166 $ 3,546,091 $ 1,218,802$ 1,294,901$ 1,339,229$ 1,396,572$ 1,447,607$ 1,533,064$ 1,695,797$ 1,777,532$ 1,855,773$ 1,950,957$ 2,146,689$ 2,246,715$ 2,400,305 Town of Lexington Revenue Projections : FY2018 new growth is a preliminary estimate subject to final review and certification by the Department of Revenue. Table 1-A. Tax Levy History5 of 2711/13/2017 199648,752,066199751,796,048199853,569,140199955,862,862200057,904,293200161,322,549200267,831,893200371,101,282200474,230,931200578,000,157200685,867,574200789,868,589200896,012,2022009104,879,74620 10110,778,3892011115,934,7192012122,259,6372013128,662,6642014135,440,3162015141,843,6592016148,286,7332017154,781,4552018161,960,3362019169,366,647 Fiscal Year Table 1-A: Tax Lev NotesFY2019 Exempt Debt Service based on debt modeling of current authorizations excluded from the limits of Proposition 2 1/2 and pfuture debt exclusion projects. Amount shown is projected debt service net of the application of Capital Stabilization funds to 11/13/2017 e FY2016-2018 g e FY2014-2018 e FY2009-2018 g g Residential Three Year AveraTotal$3,146,427Five Year AveraTotal$3,070,720Ten Year Avera Total$3,141,725 Commercial/ Industrial New Growth to the Levy Limit: FY2009 to FY2018 Personal PersonalTotal Industrial Commercial/ FY2009FY2010FY2011FY2012FY2013FY2014FY2015FY2016FY2017FY2018 Growth y $500,000 $4,000,000$3,500,000$3,000,000$2,500,000$2,000,000$1,500,000$1,000,000 . FY2005$866,131$320,315$505,674$1,692,120FY2006$1,037,304$127,221$689,801$1,854,326C/I/P$1,319,766FY2007$1,093,643$0$943,146$2,036,789Residential$1,826,661FY2008$1,156,124$474,999$854,527$2,485,650FY2 009$1,526,313$533,896$1,216,440$3,276,649FY2010$1,206,197$206,414$1,058,669$2,471,280FY2011$1,112,487$1,212,054$1,105,704$3,430,245C/I/P$1,347,130FY2012$1,222,142$960,174$1,164,220$3,346,536Residenti al$1,723,590FY2013$1,400,099$1,297,354$841,492$3,538,945FY2014$1,451,904$635,052$930,379$3,017,335FY2015$1,686,061$408,312$802,610$2,896,983FY2016$1,712,987$315,942$743,704$2,772,633C/I/P$1,633,207FY 2017$1,858,460$507,820$943,064$3,309,344Residential$1,508,519FY2018$1,908,536$743,813$704,954$3,357,303 Fiscal YearResidential Note: FY2018 figures are preliminary, requiring review and approval by the Department of Revenue. Town of Lexington Revenue Projections Table 1-B. New Growth History6 of 27 SummaryFY2019 new growth is estimated at$2,500,000,represented as a red line in the chart to the right Table 1-B: New Tax Lev 15,875,917 15,664,471 13,261,954 11,526,957 11,081,189 Net State Aid FY2013 -FY2019 Projected 10,144,659 9,348,383 FY2013FY2014FY2015FY2016FY2017FY2018FY2019 $8,000,000 $18,000,000$16,000,000$14,000,000$12,000,000$10,000,000 e Chapter 70 formula, SummaryFY2017 state aid increased by 15%, followed by an 18% increase in FY2018. These increases reflect the increased enrollment experienced and the required state contribution under thwhich had not previously been fully reflected in the school aid amounts. Now that the state is meeting its foundation aid requirements, the significant increases will level-off. The FY2019 state aid projection is conservative in using an overall increase of 1.35%. Final FY2019 state aid numbers will probably not be known until June 2018 when the Legislature adopts, and the Governor signs, the FY2019 State budget. Our first glimpse of the direction of FY2019 state aid will be reflected in the Governor's proposed FY2019 budget which will be submitted to the Legislature in January 2018. $13,681,600 $12,764,750 $15,270,864 $15,319,541 $13,772,185 $14,903,721 $12,108,987 Local Receipts FY2012-17 Actuals; FY2018-19 Projected $12,340,331 FY2012FY2013FY2014FY2015FY2016FY2017FY2018FY2019 $15,000,000 $13,000,000 $11,000,000 SummaryLocal Receipts make up 6.7% of the projected FY2019 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. 000 , 095 , FY2019 Projected $ $$$$$$$$$$$$$ $ $ 500 , FY2018 2 $16,585,809 $ 413,000$ 75,000$ -$ 13,084,809$ 750,000$$ 141,000$ -$ 27,000$ -$ -$ -$ -$ 3,250,000$ 5,345,000 Appropriated 000 , FY2017 324 $15,158,963 $ 413,000$ 48,500$ 42,200$ 13,269,721$ 750,000$ 141,000$ 25,000$ 117,979$ 2,400,000$ 2,724,500 $ Appropriated 567 , FY2016 710 $ 12,705,171 $ 625,265$ 105,000$ -$ 9,870,618$ 1,200,000$$ 137,000$ 30,000$ 27,000$ -$ 18$ 45$ 27,288$ -$ 710,000 Appropriated 000 , FY2015 620 $16,275,406 $ 395,000$ 105,000$ -$ 13,087,810$ 1,858,947$$ 137,000$ -$ -$ -$ -$ -$ 71,082$ 215,000$ 835,567 Appropriated - FY2014 919 $11,931,293 $ 105,000$ -$ 9,380,309$ 1,000,000$$ -$ -$ 950,000$ 1,869,000 $ 335,000$ 88,000$ -$ -$ 49,096$ 54,888 Appropriated - 5,468 335,000200,000250,000400,000400,000 FY2013 $ 12,473,510 $ 105,000$ -$ 11,650,931$ -$$ -$ -$ 1,600,000$ 1,600,000 $ 335,000$ 90,000$ -$ -$ 250,000$ 42,579 Appropriated d ate g ation Fun g ital Articles p mt. Stab. Fund85,160 s g ation Stabilization Fund- Town of Lexington Revenue Projections g Available Fund Categories g Table 4-A. Available Funds22 of 2711/13/2017 ital Stabilization Fund*FY2019 Free Cash is a preliminary estimate, subject to certification by the Department of Revenue.**Shown for informational purposes only, as Exempt Debt is not part of general operating revenues. p valon Bay School Enrollment Miti Table 4-A: Available FundsTotal Available Funds7,249,652Total Use of Capital Stabilization Fund ParkinCemetery Perpetual Care Fund105,000Cemetery Sale of Lots Fund-Free Cash*6,269,024Health Claims Trust Fund-CaTransp.Demand MTraffic MitiCenter Improvement District Stabilization Fund-Insurance ProceedSchool Bus Stabilization Fund-ABalances from Prior Yr. CaUse of Capital Stabilization Fund to MitiExempt Debt** $ $$$$$$ $ (2,116,796) $ (917,540)$ -$ (49,257)$ (750,000)$ (400,000)$ - $ (1,984,103) $ (886,512)$ -$ (47,591)$ (750,000)$ (300,000)$ - $ (1,648,811) $ (850,915)$ -$ (46,535)$ (751,361)$ -$ - $ (2,938,339) $ (850,735)$ -$ (46,897)$ (750,000)$ (643,650)$ (647,057) $ (2,497,470) $ (817,003)$ (26,514)$ (47,462)$ (953,485)$ (653,006)$ $ - - - FY2013FY2014FY2015FY2016FY2017FY2018FY2019 ActualActual ActualActualActualEstimatedProjected (1,631,437) $ (1,644,621) $ (795,309)$ (30,207)$ (39,714)$ (779,391)$ -$ -$ - t s s Account Defici g Category Town of Lexington Revenue Projections t Table 5-A. Revenue Offsets25 of 2711/13/2017 School Lunch(24,262)Public Libraries(37,489) Table 5-A: Revenue OffsetTotal Revenue OffsetNotes: Cherry Sheet Assessments(799,342)Cherry Sheet OffsetsOverlay (abatements)(770,344)Snow DeficiSchool ReimbursementsHealth WithholdinOverlay Deficits-FY2019 Cherry Sheet Assessments reflect an assumed 3.5% increase over FY2018 assessments. FY2019 Projected $ $ $ $ $ $ $ $ $ $ $ $ $ $ 2,351,487 FY2018 $16,957,906 Appropriated $ 2,095,000$ 214,292$ 2,500,000$ 2,550,000$ 3,700,000$ 1,829,721$ 2,600,000$ 198,893$ 30,000$ -$ 40,000 FY2017 $19,077,898 Appropriated $ 200,000$ 324,500$ 220,152$ 7,690,398$ 3,531,000$ 1,829,721$ 2,542,927$ 194,713$ 30,000$ 302,000$ 61,000 FY2016 $ 15,155,959 Appropriated $ 1,000,000$ -$ 710,000$ 253,007$ 6,991,205$ 2,905,265$ 1,512,318$ 2,526,835$ 187,329$ 30,000$ -$ 40,000 FY2015 $16,168,222 Appropriated $ -$ -$ 620,567$ 216,836$ 9,447,832$ 2,190,082$ 1,200,000$ 2,270,145$ 182,760$ 20,000$ -$ 20,000 FY2014 $14,405,660 Appropriated $ -$ 156,000$ 919,000$ -$ 5,910,726$ 3,524,891$ 1,119,000$ 2,254,924$ 178,303$ 20,000$ -$ 322,816 ----- 20,000 500,000169,711316,250 1,600,0002,307,4971,425,586 s FY2013 ppropriated $ 15,257,442 $ -$ -$ -$ -$ 3,983,240$ 4,855,174$ 775,000$ 1,890,074$ 173,954$ 20,000$ -$ 3,560,000 A ose p nated Pur g t s nated Uses6,339,044 g Town of Lexington Revenue Projections Table 7-A. Revenues Set Aside for Designated Uses27 of 2711/13/2017 Category Table7-A: Revenues Set Aside for DesiTotal Set Aside for Desi Set-Aside for as yet to be identified needs Set-Aside for Unanticipated Current Fiscal Year NeedsSet-Aside to maintain within levy debt service payments at 5% increaseSet-Aside for Tax Levy Support of Community Center Program (Transfer to Article 5)Transfer to Capital Stabilization FundRetire Note for Land PurchaseCash CapitalOther Post-Employment Benefit Liability (OPEB)Street Improvement ProgramBuilding Envelope ProgramSenior Tax Work-Off ProgramComprehensive Plan DevelopmenOther 1 Summit II November 14, 2017 Town of Lexington FY 2019 Revenue Projections November 14, 2017 2 Town of Lexington Financial Summit 2 November 14, 2017 3 Town of Lexington Financial Summit 2 November 14, 2017 4 Town of Lexington Financial Summit 2 November 14, 2017 5 Summit 2 to Brown Book Town of Lexington Financial Summit 2 - Future Updates to this Revenue Projection Use of Reserve Accounts; Capital Articles BalancesChange in Fees and ChargesUse of Capital Stabilization Fund based on February Bond SaleFinal Amount Transferred to Capital Stabilization FundGrowth in Tax LevyFinal State Aid Minor Revisions ••••Substantive Revisions (Post Town Meeting)••November 14, 2017 6 Properties; Sidewalk Management Mandates , Bicycle and Vehicle Safety on Town of Lexington Financial Summit 2 Pedestrian Stormwater - - Continuing Policy Issues Priority Options Policy Issues for Consideration Use of Capital Stabilization Fund Financing Plan for Increasing School Enrollments (Limiting Program Improvement Requests)Financing Plan/Property Tax Impact for School and Municipal Capital ProjectsPlanned Community Town Roads, Intersections and School Betterment Evaluation (BOS Goal 7, 10)Financing •••••November 14, 2017 7 13; SC Town of Lexington Financial Summit 2 FY2019 Policy Issues Policy Issues for Consideration Implementation of 20/20 Subcommittee Report/Diversity Advisory Task Force (Goal 18)Community Center Expansion Options (BOS Goal 7)Staffing for Public Information/Citizen Outreach Activities (BOS Goal 9)Community Mental Health Programs (BOS Goal Goal)Managing Within Levy Debt (new) •••••November 14, 2017 CźƓğƓĭźğƌ {ǒƒƒźƷ Ћ Town of LexingtonDecember 4, 2017 Debt Exclusion Referendum bƚǝĻƒĬĻƩ ЊЍͲ ЋЉЊА th 8November2017 DRAFT 7:30Welcome/Introductions/Workshop Guidelines Dr Andrew Stephens, Principal Dr Frank Locker Referencepre-workshop videos 7:45Past, Best + Next PracticesPart 1 Presentation Frank Locker What’s important/notimportant for future teaching and learning at LHS? Individual reflection 9:05BREAK 9:15Most Important Concepts for LHS Table Team discussions Report out 9:45Defining Student Success in Life Table Team discussions Report out 11:00What to Teach?How to Teach? Who is incharge here?LHS or DESE or AP or SATs Whole group discussion 11:30LUNCH + Lunch Theater Video: Reflections How does this apply to LHS? 12:00Review of Current Programs, Services, Deliveries, + School Organizational Structure st Through a 21Century Lens Table Team discussions Report out EACH TABLE TEAM PICKSONE 1:00Exploring Innovations in Education1:1:00Exploring Innovations in Education 2: Project-Based LearningMastery Learning/ Adaptive Learning 1:00Exploring Innovations in Education3:1:00Exploring Innovations in Education 4: Making Things to LearnBlended Learning/Flipped Classrooms Agency by Design Design Thinking Table Teamdiscussions Report out 1:57Select presenters for the after school Staff/Faculty Meeting 2:00Learning Modalities Self-reflection Sample report out 1 Frank Locker Educational Planningfl@franklocker.comwww.franklocker.com617.412.7444 th 8November2017 DRAFT 2:17Homework assignment: School in 2037 2:20ADJOURN 2:20Prep for LHS Faculty/Staff Presentation Whole group discussion RUN TO LHS 3:00Late Breaking News Presentation to whole faculty/staff 4:30ADJOURN 2 Frank Locker Educational Planningfl@franklocker.comwww.franklocker.com617.412.7444 th 8November2017 DRAFT 8:30Welcome + Introductions Dr Andrew Stephens, Principal Dr Frank Locker 8:40Educator Workshop Concepts +Homework: School in 2037 Whole group discussion 9:10Snapshot ofLHS School or district representative 9:30BREAK 9:40Past, Best + Next Practices Part 2 Presentation Frank Locker What’s important/notimportant for future teaching and learning at LHS? Individual reflection 11:00Most Important Concepts for LHS Table Team discussions Report out 11:30What Worksat LHS? What Could be Better? Whole group discussion 12:00LUNCH + Lunch Theater Video: Randy Nelson, Pixar Films, OR Videos: Buck Institute: Whole group discussion 12:30Schoolingin theCommunity Table Team discussions Report out 1:00Interdisciplinary Learning+ Teaching:Integrating the Curriculum Table Team discussions Report out 2:15School Organizational Structure Table Team discussions Report out 3:27Homework assignment: School in 2037 3:30ADJOURN 3 Frank Locker Educational Planningfl@franklocker.comwww.franklocker.com617.412.7444 th 8November2017 DRAFT 8:30Welcome Back Andrew Stephens Frank Locker 8:40HomeworkReview: School in 2037 Whole group discussion 9:00School Transformation + Development Map MicroTeam discussions Report out BREAK AS NEEDED 11:00Places for Learning Small group discussions Report out 12:00LUNCH + Lunch Theater Larry Rosenstock on Whole group discussion 12:30Defining Spaces Table Team discussions Report out 1:45Overall School Organization Diagram Whole group concepts 3:00Key Words Small group discussions Report out 3:20Next Steps KellyChase, 3:30ADJOURN 4 Frank Locker Educational Planningfl@franklocker.comwww.franklocker.com617.412.7444 th 8November2017 DRAFT Anintegratedcurriculumhasinterdisciplinary/cross-curricularteachingandlearning Herearesomeexamplesofintegratedprograms: th Parallelinstruction:19centurylitinEnglish,simultaneouslycivilwarinhistory Integrated core academics: ELA, social studies, math, and/or science STEM (Science, Technology, Engineering, Math) STEAM(Science, Technology, Engineering, Arts, Math) Arts with core integrating PE, Science, and Health Technology Wellness program Internships with the curriculum wrapped around apstone/Senior Project C Project based learning in one discipline relying on expertteachers in other disciplines Others? 1 Isinterdisciplinary/cross-curricularteachingandlearningimportantforthe future? YESNO 2 Why? 3 Pickoneormorefrom aboveorinventanother.Foreachdevelopa scenario: A Characterizeteachingandlearning: B How many teachers are involved? What are they doing? C How many students are involved? D How do students express their learning? EWhat are the overall schoolorganizational concepts? FScheduling concepts? Who controls the schedule? GWhat does this meanforfacilities? 4 On a scale of 1 to 10 (with 10 = most), how engaging is this? 5Doyouthinkour schoolshouldenhance and expandintegratingthe curriculumon a regularbasis? YESorNO. If YES, identify strategies to enhance and expand integrating the curriculum. 1 Frank Locker Educational Planningfl@franklocker.comwww.franklocker.com617.412.7444 th 8November2017 DRAFT DEVELOPCONCEPTSFORSPACESTOSUPPORTONE OFTHE FOLLOWING: st A.21centuryLibrary/MediaCenter/LearningCommons st B.21centuryDining/FoodService C.Assembly D.Supportingapplied/activelearning,suchasproject-basedlearning,STEM, STEAM,MakingThingstoLearn, etc E.Studentcollaboration F.Masterylearning/independentstudy G.Studentlife before, during and after school H.Teachersupportincludingcollaboration I.Communityinbuilding: events, experts, J.Other CHOOSE TWO. Discuss in your small group Table Teams. Usedrawings,bullets,narratives,orpoems,asappropriate Report out. 1 Frank Locker Educational Planningfl@franklocker.comwww.franklocker.com617.412.7444 th 8November2017 DRAFT Develop a project to serve as the vehicle for learning 1Describe the content/subject areas. Bonus for interdisciplinary! 2Identify the learning/curriculum goals 3Conceive the project. The project should be sufficiently complex to haveno single solution. EXAMPLE: Design a marketing strategy to promoteindependent student summer businesses 4Create the Driving Question For example: Design a Café for Paris 5How long does it last?When?How prominent is the project within the context of the year/curriculum? 6Does it involve community responsibility/service? How? 7Is it enhanced through community experts? 8When could this get started? 9 On a scale of 1 to 10 (with 10 = most), how engaging is this? 10What does this mean for facilities? 11 Do youthinkweshouldsupport P-BL as a regular educational delivery? YES or NO.Explain. 12 Identify the most effectiveplaces inourcurriculum to increase use ofP-BL as a regulardelivery method? 1 Frank Locker Educational Planningfl@franklocker.comwww.franklocker.com617.412.7444 th 8November2017 DRAFT Standard learning: seat time is constant; amount of learning varies by student. Mastery learning: seat time is variable; learning is mastered. Adaptive learning: technology is used as a tool to support Mastery Learning. 1Identify a classroom, bygrade level and subject atyour school. 2Answer these questions: AHow many students in the class? BHow many students are learning below grade level? CHow many are above? DHow many students don’t want others to know when they don’t understand the learning material? 1 Could masterylearning improve learning at our school? YES or NO p If “yes”, how? 2What would classroom activities look like?Describe how a teacher could guide/manage teaching like this. 3 Could learning be enhanced by use of computers with adaptive learning programs? 4 What might mastery learningmean for scheduling?For graduation concepts? 5 On a scale of 1 to 10 (with 10 = most), how engaging is this? 6 What might mastery learning meanfor facilities? 7 Do youthinkweshould support mastery-based, adaptive learningon a regular basis? YES or NO AWhy? BWhy not? 1 Frank Locker Educational Planningfl@franklocker.comwww.franklocker.com617.412.7444 th 8November2017 DRAFT Here is an eclecticlist of learning modalities. Which are most appropriate for core learning? Which ones should we be using most at ourfuture school? Which ones the least? Personally rank them in order of appropriateness for learning Focus on the 4 most and the 2 least appropriate p Appropriateness implies extensive application A.Direct teaching_____ _____ _____________ B.Lecture (sustained direct teaching)_____ _____ _____________ C.Seminar instruction_____ _____ _____________ D.Teacher team/synchronous collaboration_____ _____ _____________ E.Independent study_____ _____ _____________ F.Small group work/student collaboration_____ _____ _____________ G.Peer tutoring/teaching_____ _____ _____________ H.Internships_____ _____ _____________ I.Service learning_____ _____ _____________ J.Project-based learning_____ _____ _____________ K.Making things, prototyping_____ _____ _____________ L.Interdisciplinary learning_____ _____ _____________ M.Thematic/integrated learning_____ _____ _____________ N.Integrated arts learning_____ _____ _____________ O.Social/emotional learning_____ _____ _____________ P.Student presentations_____ _____ _____________ Q.Computer-based: adaptivelearning, games_____ _____ _____________ R.Blended learning/flippedclassroom_____ _____ _____________ S.Distance learning_____ _____ _____________ T.Technology with mobile devices_____ _____ _____________ U.Technology with desktop devices_____ _____ _____________ V.Other_____ _____ _____________ 1 Frank Locker Educational Planningfl@franklocker.comwww.franklocker.com617.412.7444 th 8November2017 DRAFT Here is a starter list of topics, covering types of learners and learning modalities currently at our school. This list is not complete. Brainstorm with your table team to add others that are worth exploring. 1.Students with special needs: Special Education 2.Students with special needs: Gifted + Talented 3.Students who we think will ultimately drop out of schoolDo we include this?? 4.Students who aspire to attend an elite university 5.Students who aspire to leadership positions in careers ASAP 6.Students who are bored/disengaged with school 7.Multiple intelligences in core courses: Musical learners, bodily/kinesthetic learners, and/or visual learners in core courses 8.Social emotional learning inclasses 9.Social emotional learning as a school-wide practice 10.Critical thinking/problem solving skills in core courses 11.Interdisciplinary learning in core courses 12.Applied learning in core coursesCore academics in applied classes 13.Core academics in applied classes 14.Teacher collaboration/synchronously teaming in core courses 15.47 minute classes 16.Others of your choice Each table will pick two of these topics to review. All items are to be addressed. On your flipchart(s), record your table team’s answers to the following questions: 1.Identify the number + the topic 2.Is this topic something we are serving right now at our school? 3.If so, how/where/in what way do we currently serve the topic? 4.Is this topic important? How much? 5.Howwell do we serve the topic? 6.Should we improve our programs/service/organization focused on this topic? Yes or No? 7.If “Yes”, how do we do that? If “No”, why not? 8.Identify facilities implications of your improvement concepts 1 Frank Locker Educational Planningfl@franklocker.comwww.franklocker.com617.412.7444