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Financial Summit II Nov 2007
` �v5 MOR o � t775 '�c rrl a� z �a APRIL 19T" Town of Lexington FY 2009 Revenue Projections Town Manager's Office Finance Department November 13, 2007 version 1.0 p`O VS Mop I Q° "S c a Town of Lexington s <FX,N" Revenue Projections This revenue projection is being submitted to the Board of Selectmen as required under Section 13 of Chapter 753 of the Acts of 1968, as amended, An Act Establishing the Selectmen -Town Manager Form of Government in the Town of Lexington. The projection is based on the most current data available. As new information becomes available, the projections may be revised. The summary below presents gross and net general fund revenues. Gross General Fund Revenues include all revenues projected as available for use in FY09. Net Gene ral Fund Revenues are gross revenues less revenues deemed to be non - recurring, and therefore, not recommended for use to support recurring expenditures. In FY2009, Gross Revenues are projected to increase by approximately $5.97 million, or 4.67 %, while Net Revenues are projected to increase by approximately $4.96 million, or 3.95 %. General Fund Revenue Summary FY 2006 FY 2007 FY 2008 FY 2009 FY 08 -09 Change Actual Actual Estimated Projection I % Property Tax Levy (Table 1) $ 89,868,589 $ 96,010,528 $ 104,813,488 $ 109,114,825 $ 4 4.10% State Aid (Table 2) $ 8 $ 8 $ 9 $ 9 $ 206,000 2.27% Local Receipts (Table 3) $ 12,338,245 $ 12,904,222 $ 9 $ 10,094,000 $ 444,376 4.61% Available Funds (Table 4) $ 2 $ 4 $ 4 $ 5 $ 937,169 20.94% Revenue Offsets (Table 5) $ (1 $ (1 $ (1 $ (1 $ 103,170 -5.33% Enterprise Receipts (Table 6) $ 1 $ 1 $ 1 $ 1 $ (41,998) -2.40% Gross General Fund Revenues $ 112,946,068 $ 122,239,241 $ 127,820,239 $ 133,770,293 $ 5,950,055 4.66% Less - Non - Recurring Revenues 2 $ 2 $ 3 $ 1 49.17% Net General Fund Revenues $ 112,946,068 $ 119,989,241 $ 125,767,892 $ 130,708,777 $ 4,940,886 3.93% Detailed Description: Property Tax Levy: The increase in property tax levy of $4,301,337 or 4.10 percent is based on the on the statutory increase in the tax levy allowed under Proposition 2 1/2 plus estimated new growth (increase in the tax levy due to new construction) of $1,681,000. State Aid: FY09 state aid is projected to increase by $206,000, or 2.27 %, which reflects a 3% increase of Ch. 70 funding and level funding of all other Cherry Sheet programs. FY09 state aid numbers will probably not be known until June 2008 when the Legislature adopts and the Governor signs the FY2009 State budget. Our first glimpse of the direction of FY09 state aid will be reflected in the Governor's proposed FY09 budget which will be submitted to the Legislature in January 2008. Local Receipts: Local receipts are projected to increase by $443,376, or approximately 4.59 %. Generally, local receipt projections are based on the average revenue received in each category for the prior five -year period. Detailed back -up tables are included with this document. No fee increases are assumed in these local receipt projections unless otherwise noted. To the extent the Board of Selectmen or other boards increase specific fees, this projection will be revised. Other key changes include a decrease in Water /Sewer PILOT payments of $187,500 (33 %); increased hotel /motel receipts due the planned reopening of the Sheraton Hotels on Route 128/I -95/2A and increased investment income in the amount of $150,000. Available Funds: Available Funds includes the parking meter and cemetery fund balances available for appropriation, free cash, overlay surplus, and special Stabilization Funds (e.g. Lexpress /Transportation Demand Management and School Bus Transportation /Avalon Bay funds.) The figures shown above are inclusive of amounts that are deemed to be non - recurring (i.e., $3.06 million of the 7/10/7 in free cash certification that has been identified here as non - recurring). On a gross basis, Available Funds are projected to increase by 20.94 %, or about $937,000. On a net basis (i.e., funds available to support recurring operating budget costs), Available Funds are projected to decrease by $72,000, or 2.97 %. Revenue Offsets: Revenue Offsets represents the set -aside of a portion of projected revenues needed for particular purposes including (1) components of state aid (Public Library aid and estimated School Lunch reimbursements) that are distributed as Cherry Sheet aid, but in fact are categorical grants that are 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; (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. In FY09, Revenue Offsets are projected to decrease by approximately $103,000 or 5.3 %. 2 of 28 Revenue Executive Summary 11/8/2007 p`OVS MQJ? I Q° "S c a Town of Lexington s <FXIN" Revenue Projections Enterprise Receipts: This category represents transfers from enterprise funds to the general fund to cover general fund expenditures that support the operations of the water, sewer and recreation departments. The approximately $42,000, or 2.4 %, decrease in FY 2009 is a net change that is due to an increase in recreation indirects and a decrease in water and sewer indirects. The reduction in water and sewer indirects reflects year 2 of a 6- year plan to bring indirects in line with revised estimates of indirect costs. Non - Recurring Revenues: This represents components of Gross General Fund Revenues that are deemed to be non - recurring, and therefore should not be used to support recurring operating budget expenditures. It is recommended that $3,061,516 of our 7/1/07 certified free cash amount be used to support non - recurring uses in FY 2009. Of the non - recurring $3,061,516, it is recommended that $1,000,000 be set -aside in the Town's General Stabilization Fund to build reserves, $850,000 be used to fund capital projects, $400,000 be set -aside to begin funding the Town's Post - Employment Funding Liability, and $350,000 be set -aside in a Special Education (SPED) Reserve. This leaves approximately $460,000 of unallocated free cash. It is proposed that the allocation of this component of free cash be revisited once departmental operating budget requests for FY09 are compiled and reviewed. 3 of 28 Revenue Executive Summary 11/8/2007 ?� 17 "S Town of Lexington � a <eX;N�j r Revenue Projections ver.1.0 Table 1: Property Tax Levy FY 2007 FY 2008 FY 2009 FY 08 - 09 Change Recap Estimated Projected $ % Tax Levy $ 89,868,589 $ 96,010,528 $ 104,813 $ 8 9.17% Prop. 2.5% $ 2 $ 2 $ 2 $ 220,074 9.17% New Growth $ 2 $ 2 $ 1 $ (740,108) - 30.57% Override $ 1 $ 3 $ - $ (3 - 100.00% Subtotal $ 96,010,528 $104,813,488 $ 109,114,825 $ 4,301,337 4.10% Table 2: State Aid FY 08 -09 Change FY 2007 FY 2008 FY 2009 Cherry Sheet Cherry Sheet Projected $ % Chapter 70 $ 5 $ 6 $ 6 $ 202,461 3.00% Lottery, Beano, Charity Games $ 1 $ 1 $ 1 $ - 0.00% Police Career Incentive $ 221,804 $ 237,868 $ 240,247 $ 2 1.00% Veterans' Benefits & Exemptions $ 90,763 $ 116,059 $ 117 $ 1 1.00% Offsets (School Lunch & Library) $ 65,369 $ 62 $ 62 $ - 0.00% sub -Total (Cherry Sheet) $ 8 $ 9 $ 9 $ 206,000 2.27% School Construction (MSBA) $ 187,696 $ - $ - $ - Subtotal $ 8 $ 9 $ 9 $ 206,000 2.27 Table 3: Local Receipts FY 2007 FY 2008 FY 2009 FY 08 -09 Change Actual Estimated Projected $ % Motor Vehicle Excise Tax $ 3 $ 3 $ 3 $ 21,000 0.53% Other Excise $ 542,000 $ 189,000 $ 501,000 $ 312,000 165.08% Penalties & Interest $ 290,000 $ 250,000 $ 267,000 $ 17,000 6.80% PILOT's $ 1 $ 807,000 $ 631,000 $ (176,000) - 21.81% Rentals $ 197,000 $ 186,000 $ 192,000 $ 6 3.23% Departmental - Schools $ 901,000 $ 266,593 $ 292,000 $ 25,407 9.53% Departmental - Municipal $ 1 $ 1 $ 1 $ (14,031) -0.84% Licenses & Permits $ 2 $ 1 $ 1 $ 126,000 9.35% Special Assessments $ 28,000 $ 24,000 $ 43,000 $ 19,000 79.17% Fines & Forfeits $ 345,000 $ 320,000 $ 337,000 $ 17,000 5.31% Investment Income $ 1 $ 659 $ 750,000 $ 91,000 13.81% Miscellaneous Non - Recurring $ 331,966 $ - $ - $ - Subtotal $ 12,904,222 $ 9 $ 10,094,000 $ 444,376 4.61 Table 4: Available Funds FY 08 -09 Change FY 2007 FY 2008 FY 2009 Appropriated Appropriated Projected $ % Parking $ 340,000 $ 350,000 $ 325,000 $ (25,000) - 7.14% Cemetery $ 100,000 $ 100,000 $ 100,000 $ - 0.00% Free Cash $ 4 $ 3 $ 4 $ 1 27.86% Overlay Surplus $ - $ 100,000 $ - $ (100,000) 100.00% TDM Receipts (Lexpress) $ 23 $ 58,000 $ 61,000 $ 3 5.17% School Bus Stabilization Fund $ - $ 65,000 $ 65,000 $ - Subtotal $ 4,713,000 $ 4,475,347 $ ____ 5,412,516 $ 937,169 20.94% Table 5: Revenue Offsets FY 2007 FY 2008 FY 2009 FY 08 -09 Change Recap Estimated Projected $ % Cherry Sheet Assessments $ (673,867) $ (695,146) $ (719,476) $ (24,330) 3.50% Cherry Sheet Offsets $ - School Lunch $ (24,802) $ (20,745) $ (20,745) $ - 0.00% Public Libraries $ (40,567) $ (41,989) $ (41,989) $ - 0.00% Overlay (abatements) $ (602,579) $ (1 $ (750,000) $ 427,500 - 36.31% Snow Deficit $ (123,959) $ - $ (300,000) $ (300,000) Subtotal $ (1 $ (1 $ (1 103,170 - 5.33 Table 6: Enterprise Receipts FY 2007 FY 2008 FY 2009 FY 08 -09 Change Appropriated Appropriated Projected 1 $ % Water $ 883,963 $ 859,728 $ 820,952 $ (38,776) - 4.51% Wastewater (Sewer) $ 753,950 $ 737,309 $ 714,536 $ (22,773) - 3.09% Recreation 1 $ 134 $ 155,848 $ 175,399 1 $ 19,551 12.54% Subtotal $ 1 $ 1 $ 1 $ (41,998) - 2.40% Gross General Fund Revenues $122,239,241 $127,820,239 $ 133,770,293 $ 5,950,055 4.66 Less non - recurring revenues $ 2 $ 2 $ 3 Total - General Fund Available for Appropriation $119,989,241 $125,767,892 $ 130,708,777 $ 4,940,886 3.93% Revenue Summary 4 of 28 11/13/2007 VS M°q I 77'r Town of Lexington 09090? V £ A 1 y r �fXING Revenue Projections Table 1: Property Tax Levy 1 The projected FY09 levy is a function of the FY08 levy limit increased by 2.5% per Proposition 2 1/2, plus an increment for new growth. FY09 new growth will be a function of construction activity for the period July 1, 2008 to June 30, 2009. FY09 new growth is projected at $1.68 million, which is 95% of the 5 year historical average. 2 The new growth amount of $2,421,108 for FY08 is an estimate that is subject to review and certification by the Department of Revenue in early December Table 2: State Aid 3 With the exception of Chapter 70 and Police Career Incentive payments, FY09 State Aid is projected to remain at FY08 levels. Chapter 70 is projected to increase by 3% and Police Career Incentive by 1 %. Actual FY09 state aid numbers will probably not be known until June 2008 at the earliest when the Legislature adopts and the Governor signs the FY2009 State budget. Our first indication of the direction of FY09 state aid will be reflected in the Governor's proposed FY09 budget (House 1) which will be submitted to the Legislature in January 2008. Table 3: Local Receipts 4 FY09 local receipts are projected on the basis of historical averages for individual categories of receipts unless otherwise specified in the back -up tables of this document. 5 Payments in lieu of taxes, (PILOTs), for the Water and Sewer Enterprise Funds have been reduced by $187,500 per the schedule approved by the Board of Selectmen. This reduction is year 4 of a 4 -year plan to phase out water and sewer PILOTs. Table 4: Available Funds 6 The Town's free cash as certified by the Department of Revenue as of 7/1/07 is $4,861,516. Of this amount, $1,800,000 is recommended to be used to support recurring annual operating costs. It is recommended that the balance of the free cash, $3,061,516, be used to support non - recurring costs. This amount is recommended to be used to support non - recurring uses such as supplemental funding of the Stabilization Fund to build reserves per the recommendations of the report of the Financial Policy Committee, for capital expenditures, or funding of our prospective Other Post - Employment Benefit (retiree health insurance) liability. Unlike previous years, no portion of Free Cash is recommended to be set -aside as an emergency reserve for FY08 operating contingencies. This is because sufficient balance exists within the FY 2008 unemployment budget to accomodate nearly $275,000 worth of contingencies. (Unemployment was funded at a level to accomodate projected costs if the June 2007 override failed. With the success of that override, these funds are available for transfer to support shortfalls that might occur in other departmental budgets.) Table 5: Revenue Offsets 7 Cherry Sheet Assessments assume a 3.5% increase in FY 2009. 8 Overlay, Reserve for Abatements and Exemptions, is based upon the recommendation of the Town Assessor. 5of28 Assumptions 11/8/2007 uS MOR 1775 �QO Town o Lex �FXIN Revenue Projections Fiscal Year Previous Year Levy Limit Allowable 2 1/2% Increase Allowable New Construction Voter Approved Override Total Tax Levy Limit Exempt Debt Service Allowable Amount which may be raised from Property Tax Unused Tax Capacity Actual Tax Levy 1996 $ 48, 752, 066 $ 1,218, 802 $ 325 $ 1 $ 51, 796, 048 $ 1,412, 532 $ 53,208, 580 $ 50, 219 $ 53,158, 361 1997 $ 51 $ 1 $ 478 $ - $ 53 $ 1 $ 54 $ 29, 327 $ 54 1998 $ 53, 569,140 $ 1 $ 954 $ - $ 55, 862, 862 $ 1,100, 500 $ 56, 963, 362 $ 22, 726 $ 56, 940,636 1999 $ 55, 862, 862 $ 1 $ 644 $ - $ 57, 904,293 $ 1 $ 58, 937, 793 $ 8 $ 58, 929, 377 2000 $ 57, 904,293 $ 1 $ 1 $ - $ 61, 322, 549 $ 120 $ 61,442, 549 $ 298 $ 61 2001 $ 61, 322, 549 $ 1 $ 1 $ 3,440, 829 $ 67, 831, 893 $ 950 $ 68, 782, 518 $ 4 7, 630 $ 68, 734, 888 2002 $ 67 $ 1 $ 1 $ - $ 71 $ 1 $ 72 $ 37, 717 $ 72,771,765 2003 $ 71 $ 1 $ 1 $ - $ 74,228, 862 $ 1 $ 75, 796, 850 $ 931 $ 75, 795, 919 2004 $ 74 $ 1 $ 1 $ - $ 78 $ 4 $ 82 $ 2,120 $ 82 2005 $ 78, 000,157 $ 1 $ 1 $ 4,224, 340 $ 85, 867, 574 $ 5 $ 91 $ 36,195 $ 91 2006 $ 85, 867, 574 $ 2 $ 1 $ - $ 89, 868, 589 $ 4 $ 94, 811, 902 $ 51 $ 94, 760,661 2007 $ 89 $ 2 $ 2 $ 1 $ 96 $ 5 $ 101 $ 62, 994 $ 101 2009 1 $ 104,813,488 1 $ 2 $ 1 1 $ 1 $ 109 1 TBD 1 $ 109,114,825 1 N/a I N/a Notes: FY 2008 Exempt Debt Service amount is PRELIMINARY. Final Exempt Debt amount to be determined on Tax Recap in late November. FY 2008 Allowable New Construction amount PRELIMINARY - Not certified by the Mass DOR. Table 1 -A. Tax Levy History 6 of 28 11/8/2007 �5 Mop 1775 ryv> Town of Lexington So a 3 <F XING - f Revenue Projections PRELIMINARY - For discussion purposes only $420,000 $116,000 Summary $954,000 Growth in the tax levy attributable to new $2,500,000 construction has been relatively consistent since FY $104,000 2000. Fueled by growth in personal property over the 2000 last five years, new growth has averaged nearly $2,000,000 $1.74 million dollars a year since the turn of the $1,971,000 decade. $622,000 $293,000 $1,500,000 FY09 new growth is estimated at $1,681,000 which 2002 represents approximately 95% of the 5 year historical $49,000 average for the period FY03 to FY07. $1,000,000 $500,000 New Tax Growth per Fiscal Year - 10 -year history - FY 1998 -2007 $0 Fiscal Year Residential Commercial Personal Total 1998 $420,000 $116,000 $418,000 $954,000 1999 $216,000 $325,000 $104,000 $645,000 2000 $354,000 $898,000 $719,000 $1,971,000 2001 $622,000 $293,000 $621,000 $1,536,000 2002 $710,000 $49,000 $814,000 $1,573,000 2003 $890,000 $47,000 $413,000 $1,350,000 2004 $836,241 $125,767 $953,565 $1,915,573 2005 $866,131 $320,315 $505,674 $1,692,120 2006 $1,037,304 $127,221 $689,801 $1,854,326 2007 $1,093,643 $0 $943,146 $2,036,789 Totals $7,045,319 $2,301,303 $6,181,186 $15,527,808 5 -Year Average $944,664 $124,061 $701,037 $1,769,762 Three Year Average FY 2005 -2007 C /I /P Residential $862,052 $999,026 Total Five Year Average FY 2003 -2007 $1,861,078 C /I /P Residential $825,098 $944,664 Total $1,769,762 Table 1 -B. New Growth History 7 of 28 11/8/2007 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 � 0 Residential M Commercial ❑ Personal V5 MOB" a 775 Town of Lexington <FxINC Revenue Projections PRELIMINARY - For discussion purposes only Summary In FY 2008, net State aid for Lexington has finally begun to rise in comparison to previous years. We have projected an essentially level- funded amount of net State aid in FY 2009 with the exception of Chapter 70 (Aid to Schools) funding, which we forecast at a modest 3% increase. rata Notes 1 Racial Equality (METCO) Offset Item removed from Cherry Sheets effective FY 2007 by Department of Revenue. 2 School Construction (MSBA) funding amounts ceased in FY 2007. The $187,696 reflects final years reimbursements for renovations completed to the Hastings Elementary School. Fiscal 2009 Proiection $ 6 $ 20,745 $ 41,989 $ 1 $ 240,247 $ 14,494 $ 77,882 $ 24,844 $ 9,270,275 $ (62,734 $ 9,207,541 $ 9,207,541 Table 2 -A. State Aid History 8 of 28 11/8/2007 Fiscal 2004 Fiscal 2005 Fiscal 2006 Fiscal 2007 Fiscal 2008 State Aid -Cherry Sheet: Actual Actual Actual Actual Cherry Sheet' Education: Chapter 70 $ 4 $ 4 $ 5 $ 5 $ 6 School Construction $ 185,819 $ 187,696 $ - $ - $ - Offset Items: Racial Equality (METCO) 1 $ 1,101,361 $ 1 $ 1 $ - $ - School Lunch $ 27,945 $ 27 $ 26,765 $ 24,802 $ 20,745 Public Libraries $ 27,874 $ 31 $ 33,774 $ 40,567 $ 41,989 General Government: Lottery, Beano, Charity Games $ 1 $ 1 $ 1 $ 1 $ 1 Police Career Incentive $ 182,350 $ 188,765 $ 202 $ 221,804 $ 237,868 Veterans' Benefits $ 10,246 $ - $ 3 $ 15,137 $ 14,350 Exemptions: Vets, Blind, Surviving Spouses $ 46,071 $ 50,382 $ 50,793 $ 51,028 $ 77,111 Exemptions: Elderly $ 24 $ 21,586 $ 17,068 $ 24,598 $ 24,598 Gross Cherry Sheet Totals $ 7,894,598 $ 8,059,161 $ 8,415,828 $ 8,117,257 $ 9 1 064,275 Less School Construction $ (185,819) $ (187,696) $ - $ - $ - Less Offset Items: $ (1,157,180) $ (1,322,023) $ (1,363,589) $ (65,369) $ (62,734)' Net Cherry Sheet Totals $ 6,551,599 $ 6,549,442 $ 7,052,239 $ 8,051,888 $ 9 School Construction (MSBA) 2 $ 187,696 $ 187,696 $ - Total State Aid (Amount Available for Appropriation; $ 6,551,599 $ 6,549,442 $ 7 $ 8,239,584 1 $ 9,001,541 Notes 1 Racial Equality (METCO) Offset Item removed from Cherry Sheets effective FY 2007 by Department of Revenue. 2 School Construction (MSBA) funding amounts ceased in FY 2007. The $187,696 reflects final years reimbursements for renovations completed to the Hastings Elementary School. Fiscal 2009 Proiection $ 6 $ 20,745 $ 41,989 $ 1 $ 240,247 $ 14,494 $ 77,882 $ 24,844 $ 9,270,275 $ (62,734 $ 9,207,541 $ 9,207,541 Table 2 -A. State Aid History 8 of 28 11/8/2007 uS MpR ' 775 "QD Town of Lexington s a <F Revenue Projections PRELIMINARY - For discussion purposes only Summary Local Receipts (fees, permits & charges) make up 7.5% of the 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. Local Receipt Category Fiscal 2008 Fiscal 2003 Fiscal 2004 Fiscal 2005 Actual Fiscal 2006 Fiscal 2007 Motor Vehicle Excise Tax 1 $ 3 $ 3 $ 4 $ 4 $ 3 Other Excise $ 412,935 $ 297 $ 384,343 $ 305,853 $ 542 Penalties & Interest $ 230,594 $ 206,883 $ 249,544 $ 365,318 $ 290,762 PILOT's $ 1 1 084,567 $ 1 1 077,611 $ 993,372 $ 1 1 142 1 436 $ 1 Rentals $ 42,977 $ 46,598 $ 49,212 $ 54 $ 197,341 Departmental - Schools $ 1 1 024,276 $ 867,998 $ 871,522 $ 1 1 103,689 $ 901 Departmental - Municipal $ 1 1 081,372 $ 1 1 042,202 $ 1 1 159,468 $ 1 $ 1 Licenses & Permits $ 1 $ 1 $ 1 $ 1 $ 2 Special Assessments $ 54,064 $ 26,969 $ 29,185 $ 25,041 $ 28,491 Fines & Forfeits $ 287,831 $ 250,181 $ 315,296 $ 309,439 $ 345,987 Investment Income $ 412,616 $ 324 $ 449,669 $ 1 Miscellaneous Non - Recurring 2 $ - $ - $ - $ 1 $ 331,966 Total $ 9 $ 8 $ 10,246 $ 12,160 $ 12,910 Notes 1 FY 2005 Motor Vehicle Excise increase partly attributable to the receipt of a late billing from FY 2004. 2 FY 2006 amount reflects final distributions from NESWC and NSTAR rebates for the Harrington School project. Table 3 -A. Local Reciepts Sum. 9 of 28 $ 9,649,624 J 1 $10,094,000 11/8/2007 Fiscal 2008 Fiscal 2009 Estimate Projection $ 3 $ 3 $ 189,000 $ 501,000 $ 250,000 $ 267,000 $ 807,000 $ 631,000 $ 186,000 $ 192,000 $ 266,593 $ 292,000 $ 1 $ 1 $ 1 $ 1 $ 24,000 $ 43,000 $ 320,000 $ 337,000 $ 659,000 $ 750,000 $ 9,649,624 J 1 $10,094,000 11/8/2007 ` S MOg ao� �T75 COs Town o Lexington Z iw 7 �FXINLCUT a Revenue Projections Local Receipt Category Fiscal 2003 Fiscal 2004 Actual Fiscal 2005 Fiscal 2006 Fiscal 2007 Estimated Fiscal 2008 Projected Fiscal 2009 Motor Vehicle Excise Tax $ 3 $ 3 $ 4 $ 4 $ 3 $ 3,931,000 $ 3,952,000 10010050 41570 MOTOR VEHICLE EXCISE TAX -PR $ 3,290 $ 292 $ 3,311 $ 953 $ 691 10010050 41590 90 MOTOR VEHICLE EXCISE TAX $ - $ - $ - $ - 10010050 41591 91 MOTOR VEHICLE EXCISE TAX $ - $ - $ - $ - 10010050 41592 92 MOTOR VEHICLE EXCISE TAX $ - $ - $ - $ - 10010050 41593 93 MOTOR VEHICLE EXCISE TAX $ - $ - $ - $ - 10010050 41594 94 MOTOR VEHICLE EXCISE TAX $ - $ - $ - $ - 10010050 41595 95 MOTOR VEHICLE EXCISE TAX $ (68) $ 30 $ 486 $ 145 $ 28 10010050 41596 96 MOTOR VEHICLE EXCISE TAX $ 54 $ 57 $ 453 $ 252 $ 35 10010050 41597 97 MOTOR VEHICLE EXCISE TAX $ 106 $ 419 $ 268 $ 310 $ 54 10010050 41598 98 MOTOR VEHICLE EXCISE TAX $ 1,072 $ 136 $ 110 $ 102 $ 105 10010050 41599 99 MOTOR VEHICLE EXCISE TAX $ 948 $ 481 $ 279 $ 191 $ 164 10010050 41500 00 MOTOR VEHICLE EXCISE TAX $ 4,715 $ 1,934 $ 729 $ 268 $ 206 10010050 41501 01 MOTOR VEHICLE EXCISE TAX $ 42,614 $ 6,219 $ 2,207 $ 866 $ 417 10010050 41502 02 MOTOR VEHICLE EXCISE TAX $ 739,613 $ 44,032 $ 9,770 $ 836 $ 1,527 10010050 41503 03 MOTOR VEHICLE EXCISE TAX $ 3,112,863 $ 645,045 $ 57,918 $ 6,127 $ 3,345 10010050 41504 04 MOTOR VEHICLE EXCISE TAX $ - $ 2,844,580 $ 1,029,806 $ 17,283 $ 5,878 10010050 41505 05 MOTOR VEHICLE EXCISE TAX $ - $ - $ 3,073,869 $ 855,726 $ 19,948 10010050 41506 06 MOTOR VEHICLE EXCISE TAX $ - $ - $ - $ 3,350,567 $ 569,562 10010050 41507 07 MOTOR VEHICLE EXCISE TAX $ - $ - $ - $ - $ 3,289,415 Notes: Detailed Methodology to be found on next page, Table 3 -8 -b. MV Excise History FY 2008 Estimate based on 5 -year historical average of Motor Vehicle Excise Tax Collections. FY 2009 Estimate based on 5 -year historical average of Motor Vehicle Excise Tax Collections. Table 3 -B -a. MV Receipts 10 of 28 11/8/2007 p` uS MORN/ 'S" Town of Lexington a V s <Fx;NIi r Revenue Projections Totals 1 29095 $ 3 $135.70 1 28772 $ 4 $139.461 27084 $ 3 $144.96 28656 $ 4 $147.44 27901 $ 4 $143.84 2003 2003 2003 2004 2007 2005 2004 2006 2005 2007 2006 Billed $ 31948,053.35 ° 205.87 98 /0 Actual $ 3 2007 commi co t # f Bills o Its Billed $ 41013,255.86 ° 97.0 /o Actual $ 3 m f x i Su D e c se Avg./Bill Bill . g/ # f Bill o s m f x i Avg./Bill Su D e c se # f Bill o s m f x i Avg./Bill Bill Su s e c se . g/ # f Bill o s 3 m f x i Avg./Bill Su D e c se : f Bill o s m f x i Avg./Bill . Su e c se Bill 9 l 1 23117 $ 2 $118.13 22684 $ 2 $116.67 22761 $ 2 $120.12 22807 $ 2 $124.33 22580 2,837,373.75 $125.66 10 193 $ 20,839.31 $107.98 47 $ 5 $115.46 $ 1 47 $ 5 $115.46 23 1,920.99 $83.52 11 26 $ 4 $162.39 9 $ 2 $282.77 - $ 9 $ 2 $282.77 9 965.12 $107.24 12 5 FY 2005 $ - $ - $ 3 $ 50 $ 10,879.87 $217.60 4 546.89 $136.72 2 1424 $ 461,486.95 $324.08 1356 $ 399,141.46 $294.35 569,562.04 FY 2007 1390 $ 550,782.68 $396.25 1249 414,368.70 $331.76 25 3 $ 118.75 3 1128 $ 347,372.33 $307.95 26 28 3 705 $ 140,796.52 $199.71 797 $ 203,471.67 $255.30 1093 $ 341 $312.10 763 $ 177,029.50 $232.02 896 291,101.68 $324.89 30 31 32 4 1097 $ 254,776.64 $232.25 1230 $ 378,535.59 $307.75 1302 $ 354,034.65 $271.92 1302 $ 354,034.65 $271.92 802 172,566.89 $215.17 5 929 $ 152,790.47 $164.47 1050 $ 248,821.50 $236.97 800 $ 149,420.02 $186.78 800 $ 149,420.02 $186.78 737 131,625.05 $178.60 6 714 $ 107,842.23 $151.04 676 $ 58,943.82 $87.20 630 $ 63,417.51 $100.66 648 80, 543.56 $124.30 7 680 $ 47 $69.45 620 $ 45,109.39 $72.76 846 $ 74,871.97 $88.50 725 60,773.24 $83.83 8 89 $ 14 $165.94 113 $ 10,309.05 $91.23 10 $ 797.83 $79.78 4 315.00 $78.75 9 118 $ 12 $105.10 190 $ 13,745.92 $72.35 2 $ 75.42 $37.71 224 21,154.99 $94.44 Totals 1 29095 $ 3 $135.70 1 28772 $ 4 $139.461 27084 $ 3 $144.96 28656 $ 4 $147.44 27901 $ 4 $143.84 Totals 1 $ 31905,205.87 1 $ 31543,224.92 1 $ 4 1 $ 4 1 $ 3 2003 2003 2005 2004 2007 2005 2006 2007 2001 Billed $ 31948,053.35 ° 205.87 98 /0 Actual $ 3 Billed $ 41012,576.03 ° Actual 88.3 /0 $ 3 ,543,224.92 Billed $ 31926,101.72 ° 106.4 /0 Actual $ 4,179,205.30 Billed $ 41224,974.58 ° 100.2 /0 Actual $ 4,233,624.82 Billed $ 41013,255.86 ° 97.0 /o Actual $ 3 Pre -2001 $ 10,116.94 $ 3 $ 5 $ 2 $ 1 FY 2001 $ 42,613.67 $ 6 $ 2 $ 866.46 $ 417.09 FY 2002 $ 739,612.51 $ 44,032.40 $ 9 $ 835.90 $ 1 FY 2003 $ 3 $ 645,044.91 $ 57,918.23 $ 6 $ 3 FY 2004 $ - $ 2 $ 1 $ 17 $ 5 FY 2005 $ - $ - $ 3 $ 855,725.81 $ 19,947.86 FY 2006 $ - $ - $ - $ 3 $ 569,562.04 FY 2007 1 $ - $ - $ - $ - $ 3 Totals 1 $ 31905,205.87 1 $ 31543,224.92 1 $ 4 1 $ 4 1 $ 3 Notes: a) 5 -Year Billable Average: b) 5 -Year Actual Collection Average: c) Average Bills - 5 -Year Average d) Average No. of Bills Annually -5 Year Average e) Collection Rate - 5 year Average Table 3 -B -b. MV Excise History $4,024,992 $3,950,527 $142.28 28,302 98.17% 11 of 28 11/8/2007 / 5:55 PM 2003 2004 2005 2006 2007 2001 Billed $ 31948,053.35 ° 205.87 98 /0 Actual $ 3 Billed $ 41012,576.03 ° Actual 88.3 /0 $ 3 ,543,224.92 Billed $ 31926,101.72 ° 106.4 /0 Actual $ 4,179,205.30 Billed $ 41224,974.58 ° 100.2 /0 Actual $ 4,233,624.82 Billed $ 41013,255.86 ° 97.0 /o Actual $ 3 Notes: a) 5 -Year Billable Average: b) 5 -Year Actual Collection Average: c) Average Bills - 5 -Year Average d) Average No. of Bills Annually -5 Year Average e) Collection Rate - 5 year Average Table 3 -B -b. MV Excise History $4,024,992 $3,950,527 $142.28 28,302 98.17% 11 of 28 11/8/2007 / 5:55 PM uS MOq h ` "S" Town of Lexington a�m ow� �fX,NG Revenue Projections Local Receipt Category P 9 Actual Fiscal 2003 Fiscal 2004 Fiscal 2005 Fiscal 2006 Fiscal 2007 Estimated Fiscal 2008 Projected Fiscal 2009 Other Excise $ 412,935 $ 297,438 $ 384,343 $ 305,853 $ 542,486 $ 189 $ 501,000 10010080 41901 OTHER EXCISE - HOTEL /MOTEL 10010080 41902 OTHER EXCISE -JET FUEL $ 258,109.00 $ 216,732.00 $ 253,007.00 $ 209,663.00 $ 188,608.00 $ 154,826.03 $ 80,705.74 $ 131,336.18 $ 96,190.21 $ 353,878.15 $ 93,000 $ 96,000 $ 338,000 $ 163,000 Notes: FY 2007 Jet Fuel receipts (10010080 -41902 OTHER EXCISE -JET FUEL) includes more than $168,000 of one -time back payments for Exxon fuels sales at Hanscom between 2004 -2007. FY 2008 estimate based upon 3 -year average collections, with the exception of no annual collections from Sheraton due to closure for renovations. FY 2009 estimate assumes return of Sheraton Hotels online eff. 9/1/08 @ 60% of Starwood Orig. Est. Jet Fuel based upon 5 -year average. (inclusive of delayed one -time payments made in Fiscal 2007 attributable to FY 2004, 2005 and 2006.) Table 3 -C. Other Excise 12 of 28 11/8/2007 uS MOq h ` "S" Town of Lexington a�m ow� �fX,NG Revenue Projections Local Receipt Category P 9 Actual Fiscal 2003 Fiscal 2004 Fiscal 2005 Fiscal 2006 Fiscal 2007 Estimated Fiscal 2008 Projected Fiscal 2009 Penalties & Interest $ 230,594 $ 206,883 $ 249,544 $ 365,318 $ 290,762 $ 250 $ 267,000 10010060 41701 PENALTIES & INTEREST P.P. TAX $ 1,486.09 $ 3,812.49 $ 2,306.22 $ 5,353.88 $ 15,230.42 $ 3,000.00 $ 5,000.00 10010060 41702 PENALTIES & INTEREST R.E. TAX $ 142,964.83 $ 147,054.84 $ 121,333.78 $ 208,922.82 $ 205,648.46 $ 145,300.00 $ 165,000.00 10010060 41703 PENALTIES & INTEREST TAX LIENS $ 51,922.16 $ 36,055.50 $ 82,840.40 $ 116,239.48 $ 40,366.60 $ 70,000.00 $ 65,000.00 10010060 41704 PENALTIES & INTEREST M.V. TAX $ 34,220.91 $ 19,960.21 $ 43,063.66 $ 34,802.01 $ 29,516.57 $ 31,700.00 $ 32,000.00 Notes: FY 2009 Estimate based on 5 -year collection average, FY 2003 -2007. Table 3 -D. Penalties &Interest 13 of 28 11/8/2007 ?� JS`775RN'c A ,,> Town of Lexington �_ o i � A APRILI9W' = NGT Revenue Projections �FXI Notes: Water /sewer PILOT reflects $187,500 annual reduction, per BOS vote of 11/21/2005 until completely phased out. FY 2008 Estimate based on FY 2007 PILOT Billed amounts multiplied by the average rate of increase from FY 2002 -2006. Brookhaven PILOT set at contractually agreed to $381,100. FY 2009 Estimate based on FY 2008 PILOT Billed amounts multiplied by the average rate of increase from FY 2003 -2007. Brookhaven PILOT set at contractually agreed to $392,533. Table 3 -E. PILOTS 14 of 28 11/8/2007 Actual Estimated Projected Local Receipt Category P 9 Fiscal 2003 Fiscal 2004 Fiscal 2005 Fiscal 2006 Fiscal 2007 Fiscal 2008 Fiscal 2009 PILOT's: Collected $ 1 $ 1 $ 993,372 $ 1 $ 1 $ 807,800 $ 631 Town of Arlington, MA $ 1,578.25 $ 1,194.09 $ 1,819.95 $ 1,870.94 $ 1,494.67 City of Cambridge, MA $ 1,529.87 $ 1,632.82 $ 1,291.74 $ 1,813.59 $ 1,448.85 Lexington Lodge #2204 BPOE (Eagles) $ 4,156.50 $ 4,436.18 $ 3,509.52 $ 4,927.31 $ 5,075.13 Brookhaven $ 270,653.82 $ 286,351.72 $ 226,537.23 $ 322,643.84 $ 443,492.07 Trustees of the Supreme Council (Masons) $ 12,096.11 $ 12,910.05 $ 10,213.34 $ 14,339.32 $ 14,769.50 Water $ 250, 000.00 $ 250, 000.00 $ 250, 000.00 $ 250, 000.00 $ 187, 500.00 Sewer $ 500, 000.00 $ 500, 000.00 $ 500, 000.00 $ 500, 000.00 $ 375, 000.00 Waldorf School (formerly classified as Rental Receipt) $ 27,540.00 Misc. (Lexington Housing Authority) $ 44,552.69 $ 21,085.92 $ 46,840.88 $ 26,620.31 PILOT's: Total Billed: $ 1 $ 1 $ 1 $ 1 $ 913,265.27 $ 807 $ 631,689 Town of Arlington, MA $ 1,592.11 $ 1,684.45 $ 1,836.05 $ 1,870.94 $ 1,884.05 $ 1,919.84 $ 1,956.32 City of Cambridge, MA $ 1,543.31 $ 1,632.82 $ 1,779.77 $ 1,813.59 $ 1,826.29 1,860.99 $ 1,896.35 Lexington Lodge #2204 BPOE (Eagles) $ 4,192.99 $ 4,436.18 $ 4,835.44 $ 4,927.31 $ 5,075.13 $ 5,171.56 $ 5,269.82 Brookhaven $ 270, 653.80 $ 286, 351.72 $ 312,123.37 $ 318, 053.71 $ 300, 000.00 381,100.00 $ 392, 533.00 Trustees of the Supreme Council (Masons) $ 12,202.32 $ 12,910.05 $ 14,071.95 $ 14,339.32 $ 14,439.80 $ 14,714.16 $ 14,993.73 Waldorf School (formerly classified as Rental Receipt) $ 27,540.00 $ 27,540.00 $ 27,540.00 Water $ 250, 000.00 $ 250, 000.00 $ 250, 000.00 $ 250, 000.00 $ 187, 500.00 125, 060.00 $ 62, 500.00 Sewer $ 500, 000.00 $ 500, 000.00 $ 500, 000.00 $ 500, 000.00 $ 375, 000.00 $ 250, 000.00 $ 125, 000.00 Notes: Water /sewer PILOT reflects $187,500 annual reduction, per BOS vote of 11/21/2005 until completely phased out. FY 2008 Estimate based on FY 2007 PILOT Billed amounts multiplied by the average rate of increase from FY 2002 -2006. Brookhaven PILOT set at contractually agreed to $381,100. FY 2009 Estimate based on FY 2008 PILOT Billed amounts multiplied by the average rate of increase from FY 2003 -2007. Brookhaven PILOT set at contractually agreed to $392,533. Table 3 -E. PILOTS 14 of 28 11/8/2007 \ uS MOR'V�.y ' "S Town of Lexington a s a s. <Fx1NC1 Revenue Projections Local Receipt Category P 9 Actual Fiscal 2003 Fiscal 2004 Fiscal 2005 Fiscal 2006 Fiscal 2007 Estimated Fiscal 2008 Projected Fiscal 2009 Rentals $ 42,977 $ 46, 598 $ 49, 212 $ 54, 241 $ 197 186 $ 192 Buildings $ 32 $ 16 00 $ 16 Cell Towers (detail below) $ 165 $ 170,0 00 $ 176 24012580 Arch Communications $ 29,800 $ - $ - 24012580 MWRA $ 15,000 $ 15,450 $ 15,914 24012590 Nextel $ 29,000 $ 29,870 $ 30 ,766 24012450 Verizon $ 32 ,417 30,900 $ 31,827 24015520 Sprint $ 33,131 $ 38,110 $ 39,253 24042090 AT &T (formerly Cingular) $ - $ 30,900 $ 31,827 24012600 T- Mobile (now USA Mobility) $ 25 ,956 $ 25,750 $ 26,523 Notes: FY 2009 Estimate based on FY 2008 levels increased by contractually agreed to increase of 3 %. Building rentals level- funded. FY 2008 Estimate based FY 2007 levels increased by contractually agreed to increase of 3 %. Building rentals level- funded. FY 2007 Base rentals amount reduced by reclassification of Waldorf School PILOT. Table 3 -F. Rentals 15 of 28 11/8/2007 uS MOq h ` "S" Town of Lexington a�m ow� �fX,NO Revenue Projections Local Receipt Category P 9 Fiscal 2003 Fiscal 2004 Actual Fiscal 2005 Fiscal 2006 Fiscal 2007 Estimated Fiscal 2008 Projected Fiscal 2009 Departmental - Schools $ 1 $ 867,998 $ 871,522 $ 1,103,689 $ 901,701 $ 266,593 $ 292,000 10010200 43401 TUITION $ - $ - $ - $ - $ - $ - 10010200 43402 SCHOOL BUS TICKETS $ 575,591.14 $ 529,891.50 $ 529,993.77 $ 711,129.05 $ 131,520.63 $ - $ - 10010200 43403 ATHLETIC FEES $ 190,383.00 $ 193,647.00 $ 237,137.00 $ 240,634.00 $ 409,080.00 $ - $ - 10010200 43601 RENTALS OF SCHOOL BUILDINGS $ 37,380.26 $ 27,377.27 $ 27,377.34 $ 117,078.05 $ 131,547.71 99,093 $ 68,000 10010200 48403 MEDICAID REIMBURSEMENT $ 220,922.00 $ 117,082.00 $ 77,014.23 $ 34,847.82 $ 117,342.26 36,000 $ 113,000 10010200 43404 MUSIC FEES $ 97,924.50 $ 121,500 $ 97,000 10010200 43405 STUDENT PARKING FEES $ 14,286.00 $ 10,000 $ 14,000 Notes: FY 2007 Amounts revised upon subsequent SC action & O/R failure. Specifically, the addition of $65,910 in estimated athletic fees, $121,500 in estimated Music Fees and $61,305 in estimated parking fees. FY 2008 estimates based on 5 -year historical average, less the shift of receipts to newly created Athletics and Transportation Revolving Funds in FY 2008. FY 2009 projections assume 5 -year historical average. Table 3 -G. Schools Dept. Rev. 16 of 28 11/8/2007 ` S MOg ao� 1775 COs Town o Lexington Z iw 7 �FXINLCYT a Revenue Projections Local Receipt Category Fiscal 2003 Fiscal 2004 Actual Fiscal 2005 Fiscal 2006 Fiscal 2007 Estimated Fiscal 2008 Projected Fiscal 2009 Departmental - Municipal $ 1 $ 1 $ 1 $ 1 $ 1 $ 1 $ 1 10010090 42701 FIRE DEPT REC- AMBULANCE FEE $ 459,371.21 $ 558,821.21 $ 735,446.77 $ 780,917.61 $ 787,758.96 $ 763,026 $ 768,000 10010090 42702 FIRE DEPT REC -FIRE ALARM FE $ 22,930.00 $ 22,840.00 $ - $ 125.00 $ 17,550.00 $ 28,547 $ 36,000 10010090 42703 POLICE DEPT REC -HOUSE ALARM $ 18,699.99 $ 14,050.01 $ 9,650.00 $ 11,400.00 $ 12,950.00 $ 24 $ 23,000 10010090 43201 PHOTOCOPIES $ - $ - $ - $ - $ - 10010090 43202 CERTIFICATE OF REDEMPTION $ 784.33 $ 17.00 $ 16.00 $ 32.00 $ 16.00 $ 325 $ - 10010090 43205 MUNICIPAL LIEN CERTIFICATES $ 90,807.00 $ 56,047.00 $ 36,499.74 $ 34,845.00 $ 33,229.00 $ 32 $ 30,000 10010090 43208 SEALER OF WTS & MEASURES FE $ 1,525.00 $ 450.00 $ 608.00 $ 1,234.00 $ 1,346.00 $ 763 $ 1,000 10010090 43213 FEES FOR ENGINEERING SERVIC $ 1,288.28 $ 2,139.00 $ 1,701.00 $ 871.39 $ 4,020.40 $ 1 $ 2,000 10010090 43216 LIBERTY RIDE TICKET SALES $ - $ 80,861.00 $ 102,962 $ 100,000 10010090 43217 TOWING FEES $ 17,035.50 $ - $ - $ - $ 8 $ 4,000 10010090 43219 BATTLE GREEN GUIDES $ - $ 750.00 $ - $ 500 10010090 43220 LIBERTY RIDE FEES $ 70,566.50 $ 38,634.00 $ - $ 89,237.50 $ - $ - $ - 10010090 43221 LEXPRESS FARES $ - $ - $ - $ - $ 77,229.66 $ 70,000 $ 81,000 10010090 43222 LIBERTY RIDE ADVERT REVENUE $ - $ - $ - $ - $ 550.00 $ 1,500 $ 1,000 10010090 43224 LIBERTY RIDE CHARTER $ - $ - $ - $ - $ 10,539.00 $ 17 $ 17,000 10010090 43225 SELECTMAN ADMIN FEE $ 500.00 $ - $ - $ - $ - $ 200 $ - 10010090 43227 TOWN CLERK FEE $ 41,691.25 $ 47,023.93 $ 48,014.13 $ 47,863.53 $ 49,523.68 $ 42,080 $ 47,000 10010090 43228 POLICE DEPT FEE $ 67,001.76 $ 75,756.87 $ 91,428.86 $ 87,860.24 $ 63,751.00 $ 77,877 $ 77,000 10010090 43229 REGISTRY SURCHARGE FEE $ 18,380.00 $ 18,815.00 $ 21,830.00 $ 33,825.00 $ 34,310.65 $ 22,309 $ 25,000 Notes: FY 2009 Estimate based upon 5 -year averages (FY 2002 - 2006), except as noted below: 10010090 42701 FIRE DEPT REC- AMBULANCE FEE based upon 3 -year average (more reflective of service levels with full ALS) 10010090 42702 FIRE DEPT REC -FIRE ALARM FEES based upon 5 -year average plus $15,000 for increased false alarm fees as voted by BOS on 2/12/2007. 10010090 42703 POLICE DEPT REC -HOUSE ALARM FEES based upon 5 -year average plus $10,000 for increased false alarm fees as voted by BOS on 2/12/2007. 10010090 43205 MUNICIPAL LIEN CERTIFICATES reduced from historic averages given current state of housing markets and interest rates. 10010090 43216 LIBERTY RIDE TICKET SALES reflective of revenues necessary to support projected budget and spending authority passed by Town Meeting in April 2007. 10010090 43224 LIBERTY RIDE CHARTER reflective of revenues necessary to support projected budget and spending authority passed by Town Meeting in April 2007. Table 3 -H. Municipal Dept. Rev 17 of 28 11/8/2007 ` S MOg ao� 1775 COs Town o Lexington Z iw 7 �FXINLCYT a Revenue Projections Local Receipt Category Fiscal 2003 Fiscal 2004 Actual Fiscal 2005 Fiscal 2006 Fiscal 2007 Estimated Fiscal 2008 Projected Fiscal 2009 (con't) 10010090 43230 DPW FEES FOR SERVICE $ 6,225.00 $ 703.00 $ 920.00 $ 3,768.92 $ 623.99 $ 2,565 $ 2,000 10010090 43231 P.B. FILING & REVIEW FEES $ 39,750.00 $ 22,572.00 $ 25,256.00 $ 52,800.00 $ 41,800.00 $ 33,276 $ 36,000 10010090 43232 B & Z MICROFILM FEES $ 4,602.70 $ 4,041.93 $ 4,137.40 $ 4,680.01 $ 4,151.80 $ 16,452 $ 16,000 10010090 43233 B.O.A. HEARING FEES $ 13,800.00 $ 12,325.00 $ 34,359.00 $ 10,139.00 $ 15,380.00 $ 18 $ 17,000 10010090 43234 P.B. SALE OF MAPS & DEV. RE $ 1,277.00 $ 1,969.00 $ 1,521.00 $ 2,797.00 $ 2,025.60 $ 1,664 $ 2,000 10010090 43235 ANR PLAN FILING FEES $ 600.00 $ 1,100.00 $ 800.00 $ 500.00 $ 300.00 $ 740 $ 1,000 10010090 43236 RENTAL CAR SURCHARGE FEES $ - $ - $ 3,126.00 $ 2,019.60 $ 2,687.40 $ 1 $ 2,000 10010090 43238 CONSERVATION FEES $ 9,257.20 $ 14,848.65 $ 18,788.00 $ 29,444.00 $ 21,333.60 $ 17 $ 19,000 10010090 43239 ANIMAL ADOP /BOARDING FEE $ 298.00 $ 470.00 $ 520.00 $ 165.00 $ - $ 305 $ - 10010090 43240 CEMETERY PREPARATION $ 107,160.00 $ 133,700.00 $ 117,280.00 $ 129,035.00 $ 128,263.00 $ 118,135 $ 123,000 10010090 43245 PAY AS YOU THROW - STICKER $ 38,022.60 $ - $ - $ - $ - $ - 10010090 43246 PAY AS YOU THROW - BARREL F $ 15,613.15 $ - $ - $ - $ - $ - 10010090 43299 MISC. FEES $ 34,185.11 $ 15,878.82 $ 7,566.27 $ 74,220.80 $ 204,005.39 $ 35,339 $ 67,000 10010090 43545 SUPPORTIVE DAY CARE FEES $ - $ - $ - $ 178,112.00 $ 138,299.50 $ 230,000 $ 158,000 Notes: FY 2009 Estimate based upon 5 -year averages (FY 2002 - 2006), except as noted below: 10010090 43232 B & Z MICROFILM FEES based upon 5 -year average plus $12,000 of fees for microfilming as voted by BOS on 2/12/2007. 10010090 43545 SUPPORTIVE DAY CARE FEES reduced to reflect anticipated operations in FY 2008 & FY 2009. Table 3 -H. Municipal Dept. Rev 18 of 28 11/8/2007 \ uS MOR'V�.y ' "S Town of Lexington a s a s. <Fx1NC1 Revenue Projections Local Receipt Category P 9 Fiscal 2003 Fiscal 2004 Actual Fiscal 2005 Fiscal 2006 Fiscal 2007 Estimated Fiscal 2008 Projected Fiscal 2009 Licenses & Permits $ 1 $ 1 $ 1 $ 1,316,551 $ 2,195,676 $ 1 $ 1,474,100 10010120 44105 ALCOHOL & BEVERAGE LIC $ 49,000.00 $ 48,675.00 $ 58,950.00 $ 65,970.00 $ 58,125.00 $ 53,439 $ 56,000 10010120 44201 BUILDING PERMITS $ 739,148.00 $ 845,205.37 $ 1,047,215.66 $ 847,640.40 $ 1,614,559.12 $ 933 $ 1 10010120 44202 GAS PERMITS $ 6,507.00 $ 6,427.00 $ 15,288.00 $ 23,327.00 $ 26,791.00 $ 11,683 $ 16,000 10010120 44203 WIRING PERMITS $ 127,225.00 $ 127,212.00 $ 162,646.50 $ 128,853.50 $ 188,806.00 $ 132,567 $ 147,000 10010120 44204 PLUMBING PERMITS $ 31,466.00 $ 33,573.00 $ 53,498.00 $ 77,329.00 $ 98,973.64 $ 45,278 $ 59,000 10010120 44223 COMBINED PERMITS $ 24,659.00 $ 28,871.00 $ 11,003.00 $ 742.00 $ 135.00 $ 17,878 $ 13,000 10010120 44224 MECHANICAL PERMITS $ 11,398.00 $ 17,306.00 $ 26,395.00 $ 28,629.00 $ 51,551.00 $ 17 $ 27,000 10010120 44225 SELECTMEN'S LIC. & PERMITS $ 1,895.00 $ 1,650.00 $ 3,175.00 $ 2,436.00 $ 2,125.00 $ 3 $ 2 10010120 44226 DUMP PERMITS $ 73,216.00 $ 51,260.00 $ 66,007.00 $ - $ - $ - $ - 10010120 44227 BOARD OF HEALTH LIC. & PERMITS $ 38,519.47 $ 40,660.25 $ 42,509.50 $ 43,195.00 $ 46,245.00 $ 39,053 $ 42,000 10010120 44228 C.C. FARM LICENSE $ - $ - $ - $ - $ - $ - $ - 10010120 44229 FIRE DEPT LIC. & PERMITS $ 18,595.00 $ 22,008.94 $ 24,510.00 $ 39,422.75 $ 56,969.24 $ 25,115 $ 32,000 10010120 44230 B & Z MISC PERMITS $ 4,009.00 $ 3,118.30 $ 1,565.00 $ 1,448.30 $ 1,492.20 $ 2 $ 2 10010120 44253 CABLE FRANCHISE LICENSE $ 2,350.50 $ 2,312.00 $ - $ - $ 161.50 $ - $ 2 10010120 44258 FIREARMS LICENSE $ 1,825.00 $ 3,000.00 $ 2,420.00 $ 2,382.50 $ 3,525.00 $ 2 $ 3 10010120 44290 TOWN CLERK'S LIC & PERMITS $ 39,696.45 $ 34,395.51 $ 36,800.63 $ 34,958.19 $ 31,339.13 $ 36,322 $ 35,000 10010120 44293 DPW STREET OPENING PERMITS $ 14,999.00 $ 27,796.00 $ 12,530.00 $ 18,477.00 $ 13,294.00 $ 25,747 $ 17,000 10010120 44296 DRAIN LAYERS LICENSE $ 1,030.00 $ 1,270.00 $ 780.00 $ 1,110.00 $ 1,024.40 $ 994 $ 1 10010120 44299 MISC. LICENSE & PERMITS $ 340.00 $ 340.00 $ 620.00 $ 630.00 $ 560.00 $ 454 $ 500 Notes: Amounts based upon 5 -Year collections average except as noted below: 10010120 -44293 DPW STREET OPENING PERMITS based on 5 -year average plus $5,000 as per vote of BOS on 2/12/2007. 10010120 44253 CABLE FRANCHISE LICENSE amount as per agreement with cable providers. Table 3 -I. Licenses & Permits 19 of 28 11/8/2007 ` S MOg ao� 1775 COs Town o Lexington Z iw 7 �FXINLCYT a Revenue Projections Local Receipt Category Fiscal 2003 Fiscal 2004 Actual Fiscal 2005 Fiscal 2006 Fiscal 2007 Estimated Fiscal 2008 Projected Fiscal 2009 Special Assessments $ 54,064 $ 26,969 $ 29,185 $ 25,041 $ 28,491 $ 24 $ 43 10010160 47501 SEWER BTMT PD IN ADVANC $ 24,980.17 $ 502.40 $ 3,575.76 $ 7,293.10 $ 5,108.65 10010160 47502 STREET BTMT PD IN ADVANCE $ - $ 717.00 $ 4.00 $ - $ 7,779.00 10010160 47608 02 SEWER BETTERMENT $ 105.63 $ - $ - $ - $ - 10010160 47612 02 SEWER BETT INT $ 5.28 $ - $ - $ - $ - 10010160 47616 03 SEWER BETTERMENT $ 14,505.72 $ - $ - $ - $ - 10010160 47618 03 STREET BETTERMENT $ 3,192.67 $ - $ - $ - $ - 10010160 47619 03 SIDEWALK BETTERMENT $ 116.85 $ - $ - $ - $ - 10010160 47620 03 SEWER BETT INT $ 8,821.60 $ - $ - $ - $ - 10010160 47621 03 WATER BETT INT $ 1,603.49 $ 263.50 $ - $ - $ - 10010160 47622 03 STREET BETT INT $ 715.21 $ - $ - $ - $ - 10010160 47623 03 SIDEWALK BETT INT $ 17.09 $ - $ - $ - $ - 10010160 47624 04 SEWER BETTERMENT $ - $ 13,120.91 $ - $ - 10010160 47625 04 WATER BETTERMENT $ - $ - $ - $ - $ - 10010160 47626 04 STREET BETTEREMNT $ - $ 3,103.04 $ - $ - $ - 10010160 47628 04 SEWER BETT INT $ - $ 7,108.55 $ 6.34 $ - $ 9.51 10010160 47629 04 WATER BETT INT $ - $ 1,629.53 $ 128.00 $ - $ - 10010160 47630 04 STREET BETT INT $ - $ 523.57 $ - $ - $ - 10010160 47632 05 SEWER BETTERMENT $ - $ - $ 13,154.54 $ - $ 158.45 10010160 47633 05 WATER BETTERMENT $ - $ - $ 2,029.10 $ - $ - 10010160 47634 05 STREET BETTERMENT $ - $ - $ 1,935.19 $ - $ - 10010160 47636 05 SEWER BETT INT $ - $ - $ 6,454.18 $ - $ 7.92 10010160 47637 05 WATER BETT INT $ - $ - $ 1,528.08 $ - $ - 10010160 47638 05 STREET BETT INT $ - $ - $ 369.46 $ - $ - 10010160 47640 06 SEWER BETTERMENT $ - $ - $ - $ 7,615.53 $ 342.10 10010160 47641 06 WATER BETTERMENT $ - $ - $ - $ 1,766.25 $ - 10010160 47642 06 STREET BETTERMENT $ - $ - $ - $ 1,805.89 $ - 10010160 47644 06 SEWER BETT INT $ - $ - $ - $ 5,051.17 $ 273.68 10010160 47645 06 WATER BETT INT $ - $ - $ - $ 1,242.63 $ - 10010160 47646 06 STREET BETT INT $ - $ - $ - $ 266.24 $ - 10010160 47648 07 SEWER BETTERMENT $ - $ - $ - $ - $ 6,076.58 10010160 47649 07 WATER BETTERMENT $ - $ - $ - $ - $ 1,766.25 10010160 47650 07 STREET BETTERMENT $ - $ - $ - $ - $ 1,277.72 10010160 47652 07 SEWER BETT INT $ - $ - $ - $ - $ 4,378.69 10010160 47653 07 WATER BETT INT $ - $ - $ - $ - $ 1,154.32 10010160 47654 07 STREET BETT INT $ - $ - $ - $ - $ 158.02 Notes: FY 2009 Average is based upon 4 -year average trend in betterments plus addition of new betterments. Table 3 -J. Special Assessments 20 of 28 11/8/2007 ` S MOg ao� �T75 COs Town o Lexington Z iw 7 �FXINLCYT a Revenue Projections Local Receipt Category Fiscal 2003 Fiscal 2004 Actual Fiscal 2005 Fiscal 2006 Fiscal 2007 Estimated Fiscal 2008 Projected Fiscal 2009 Fines & Forfeits $ 287,831 $ 250,181 $ 315,296 $ 309,439 $ 345,987 $ 320,00 $ 337,000 10010170 47702 PARKING FINES $ 108,338.10 $ 108,778.50 $ 127,538.00 $ 134,521.00 $ 145,280.01 124,00.00 $ 130,000.00 10010170 47704 NON CRIMINAL FINES $ 7,778.00 $ 6,035.00 $ 7,030.00 $ 7,975.00 $ 5,635.00 $ 7,000.00 $ 7,000.00 10010170 47706 REGISTRY CMVI $ 161,492.00 $ 124,862.50 $ 171,540.69 $ 154,930.00 $ 179,517.50 $ 178,000.00 $ 189,000.00 10010150 46801 COURT FINES $ 10,222.50 $ 10,505.00 $ 9,187.50 $ 12,012.50 $ 15,554.25 $ 11,000.00 $ 11,000.00 Notes: Estimates based upon 5 -year collections average with the exception of Moving Violations (10010170 -47706 Registry CMVI). Moving Violation fines increased by $24,000 as per vote of BOS on 2/12/07 Table 3 -K. Fines & Forfeits 21 of 28 11/8/2007 ` S MOg ao� �T75 COs Town o Lexington Z iw 7 �FXINLCYT a Revenue Projections Local Receipt Category Actual Fiscal 2003 Fiscal 2004 Fiscal 2005 Fiscal 2006 Fiscal 2007 Estimated Fiscal 2008 Projected Fiscal 2009 Investment Income $ 412,616 $ 324,131 $ 449,669 $ 983,630 $ 1 $ 659,000 $ 750,000 10010180 48211 INT EARNED ON SAVINGS $ 412,616.30 $ 324,131.34 $ 449,669.21 $ 983,629.58 $ 1,368,105.66 Notes: FY 2008 Estimate based on 5 -year historical average for investment income times average rate of growth in general fund revenues, FY 2002 -2006. FY 2009 Estimate based on 5 -year historical average for investment income times average rate of growth in general fund revenues, FY 2003 -2007. Table 3 -L. Investment Income 22 of 28 11/8/2007 `O VS MOg IT IS "� a Town o Lex a nw ; Q � c a IN 'S Revenue Projections Local Receipt Category p 9 Actual Fiscal 2003 Fiscal 2004 Fiscal 2005 Fiscal 2006 Fiscal 2007 Estimated Fiscal 2008 Projected Fiscal 2009 Miscellaneous Non - Recurring $ - $ - $ - $ 1,906,160 $ 331,966 N ESWC Settlement Money $ 1 $ - NSTAR Reimbursements $ 379,027 $ - Brookhaven $ 50,000 Medicare Part D /RDS Subsidy $ 281,966 Notes: Brrokhaven receipt appropriated under Article 6, 2006 Special Town Meeting Medicare Part D / RDS Subsidy received as a result of Lexington providing retiree health coverage. Table 3 -M. Misc. Rec & Non -Rec 23 of 28 11/8/2007 `O V5 Mos? 1775 Town of Lex X Q �0 nw <FxIN� Revenue Projections Available Fund Category Appropriated Estimated Projected Fiscal 2003 Fiscal 2004 Fiscal 2005 Fiscal 2006 Fiscal 2007 Fiscal 2008 Fiscal 2009 Parking $ 188,218 $ 188,218 $ 275,000 $ 322,014 $ 340,000 $ 350,000 $ 325,000 Cemetery $ 100,000 $ 100,000 $ 100,000 $ 100,000 $ 100,000 $ 100,000 $ 100,000 Health Trust Fund $ - $ - $ - $ - $ - $ - Free Cash $ 3 $ 640,333 $ 150,000 $ 1,159,985 $ 4,250,000 $ 3,802,347 $ 4 Overlay Surplus $ - $ - $ - $ 425,000 $ - $ 100,000 $ - TDM Receipts (Lexpress) $ 19,200 $ 15,000 $ 1,203,160 $ 181,183 $ 23,000 $ 50,000 $ 61,000 School Bus Stabilization Fund $ - $ - $ - $ - $ - $ 65,000 $ 65,000 Stabilization Fund $ - $ - $ - $ - $ - $ - $ - Total Available Funds $ 3,557,418 $ 943,551 $1,728,160 $ 2,188,182 $ 4,713,000 $4,475,347 J 1 $ 5,412,516 Notes FY 2009 Parking Funds amount for operations $25,000 higher than FY 2008 ($50,000 of $350,000 in FY08 went to complete Nstar Parking Lot; Increase in FY 2008 Parking Fund based on the additional fees anticipated for lease for the NSTAR parking lot. FY 2007 -2009 amounts shown here include all available funds - both recurring and non - recurring. Table 4 -A. Available Funds 24 of 28 11/8/2007 S1��sR " " "c Town of Lexington a� zra �fXING °� Revenue Projections Notes: Parking Fund does not include fines from tickets - only permit sales & meter collections. Program Department Category FY 2003 FY 2004 FY 2004 FY 2005 FY 2005 FY 2006 FY 2006 FY 2007 FY 2007 FY 2008 Beginning Balance $ 133,783 $ 285,550 $ 415,901 $ 518,117 $ 587,640 $ 476,645 Budgeted (Expenses) Expenses (188,218) 14 1 ) 22,907 $ 65,907 $ 74,389 , (350,000) Actual Collected $ 339,985 $ 318,569 $ 377 $ 391,537 $ 379,004 $ 382,586 Ending Balance $ 285,550 $ 415,901 $ 518,117 $ 587,640 $ 476,645 $ 509,230 Notes: Parking Fund does not include fines from tickets - only permit sales & meter collections. Program Department Category FY 2003 FY 2004 49,201 FY 2005 49,201 FY 2006 49,201 FY 2007 49,201 FY 2008 DPW 4120 Patrol & Enforce Personal Services $ 39,675 $ 8 $ 84,359 $ 72,395 $ 72,395 3210 Highway Maintenance Expenses $ 14 $ 22,907 $ 65,907 $ 74,389 $ 30,000 3610 Lexpress Expenses $ 79,193 Expenses $ 16,000 $ 22,000 $ 22,000 $ 22,000 3620 Parking Operations Personal Services $ 41,397 $ 42,647 $ 47,014 $ 52 $ 91,712 186,374 Expenses $ 23,072 $ 23,072 $ 22 $ 24 $ 34,120 DPW Total $ 79,193 $ 79,193 $ 88,626 $ 135,640 $ 150,994 $ 155,832 Police 4110 Police Admin Personal Services $ 25,000 $ 49,201 $ 49,201 $ 49,201 $ 49,201 $ 49,201 4120 Patrol & Enforce Personal Services $ 39,675 $ 8 $ 84,359 $ 72,395 $ 72,395 $ 26,239 4130 Parking Meter Maintenance Personal Services $ 28,350 $ 29,201 $ 30,814 $ 42 $ 45,410 $ 46,728 Expenses $ 16,000 $ 22,000 $ 22,000 $ 22,000 $ 22,000 $ 22,000 Police Total $ 109,025 $ 109,025 $ 186,374 $ 186,374 $ 189,006 $ 144,168 Capital - NSTAR Parking Lot $ 150,000 $ 50,000 Total Parking Meter Appropriation $ 188,218 $ 188,218 $ 275,000 $ 322,014 $ 490,000 $ 350,000 Table 4 -13. Parking Collections 25 of 28 11/8/2007 `O V5 MOp 1T Town o Lexington �o s Z <F XINGT Revenue Projections A B C D E F G Fiscal Year Beginning Free 9 9 Cash Receipts in Excess of Estimates Expenditures p less than App. Misc. Factors Appropriations from F.C. and other adjustments Cert. F.C. FY 2001 $ 1 $ 3 $ 1 $ - $ (692,645) $ 5 FY 2002 $ 2 $ (603,164) $ 487 $ - $ 2 FY 2003 $ 1 $ (372,684) $ 232 $ - $ (39,959) $ 1 FY 2004 $ 1 $ (301,684) $ 588,899 $ - $ 2 FY 2005 $ 2 $ 1 $ 333,862 $ 1 $ (715,232) $ 5 FY 2006 $ 5 $ 3 $ 429,318 $ - $ (5 $ 3 FY 2007 $ 3 $ 2 $ 1,966,642 $ 432,693 $ (3,802,347) $ 4 FY 2008 $ 4 N/A N/A N/A N/A N/A Notes: The method shown above is the income /appropriation & explanation of Free Cash. Table 4 -C. Free Cash 26 of 28 11/8/2007 uS MOq 1775 Town of Lexington y <FX,NCIi Revenue Projections Category 9 FY 2003 FY 2004 Actual FY 2005 FY 2006 FY 2007 Estimated FY 2008 Projected FY 2009 Cherry Sheet Assessments $ (769,526) $ (721,503) $ (674,131) $ (633,266) $ (673,867) $ (695,146) $ (719,476) Cherry Sheet Offsets $ - $ - $ - $ - $ - $ - Racial Equality $ (1 $ (1 $ (1 $ (1 $ - $ - $ - School Lunch $ (25,773) $ (27,945) $ (27,156) $ (26,765) $ (24,802) $ (20,745) $ (20,745) Public Libraries $ (31,430) $ (27,874) $ (31,723) $ (33,774) $ (40,567) $ (41,989) $ (41,989) Overlay (abatements) $ (372,620) $ (500,142) $ (899,183) $ (501,895) $ (602,579) $ (1 $ (750,000) Snow Deficit $ (245,954) $ (719,146) $ (181,946) $ (646,688) $ (123,959) $ - $ (300,000) School Reimbursements $ - $ - $ - $ - $ - - $ - Overlay Deficits $ - $ - $ - $ - $ - $ - $ - Total Revenue Offsets $ (2 $ (3 $ (3 $ (3 $ (1 (1,935,380} $ (1,832,210) Notes: FY 2009 Revenue offsets assume a 3.5% increase over FY 2008 with the exception of Overlay. Cherry Sheet Assessments assume a 3.5% increase in FY 2008 over FY 2007. The Overlay Account (Reserve for Abatements) is based upon the recommendation of the Town Assessor. Increase in FY 2008 is due to this being a revaluation year and the anticipated increase in abatements. Table 5 -A. Revenue Offsets 27 of 28 11/8/2007 `O VS MOg ` "S " Town of Lex 6�m zw� S �fXINGZO� Revenue Projections Category Actual Appropriated Projected FY 2003 FY 2004 FY 2005 FY 2006 FY 2007 FY 2008 FY 2009 Enterprise Receipts (Transfer to G.F.) Water $ 987,641 $ 837 $ 837 $ 871 $ 883,963 $ 859,728 $ 820,952 Wastewater (Sewer) $ 473,676 $ 749,070 $ 749,070 $ 821 $ 753,950 $ 737,309 $ 714,536 Recreation $ 67,680 $ 97,000 $ 97,000 $ 97,000 $ 134 $ $ 155,848 1,752,885 $ 175,399 Total Enterprise Receipts $ 1 $ 1 $ 1 $ 1 $ 1 $ 1 Notes: Water & Sewer Indirects forecast to be reduced by $61,549 in FY 2009, as per BOS vote on October 30, 2006. This is year 2 of a 6 year phase -down plan. Increase in Recreation indirects result of increased benefit costs for 5 FTE's Table 6 -A. Enterprise Receipts 28 of 28 11/8/2007