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Home My WebLink AboutFY 2008 Appropriated Budget SummaryFY 2008 Budget Summary � Town of Lexing You can now pay your bills online! Q 1) Go to: http: / /ci.lexington. ma.us 2) Click on the " "Online Bill Paying" button; and 3) Complete each screen to process your payment! Town of Lexington, Massachusetts 1625 Massachusetts Avenue Lexington, Massachusetts 02420 FY 2008 Appropriated Budget The Town of Lexington approved a $148,795,549 operating and capital budget for Fiscal Year 2008. This budget includes the voter approved override of $3,981,589 and debt service attributable to a voter approved debt exclusion which passed on June 5, 2007. Key aspects of this budget include: • Restoration of some core school services eliminated in previous years; • Maintenance of municipal services; • Continued strengthening of the Town's reserves; • Commitment to maintenance of Town infrastructure including a new Public Works facility. Where your tax dollar goes* 1¢ Social Services * * Shared DPW Capital Exp. 7¢ & Debt 20¢ 5¢ 1 I J 1 1 - T T T 3¢ 1¢ 2¢ General Comm Library Gov't. Dev. * Breakdown shown is for the FY 2008 general fund. Water, sewer and recreation enterprise funds are excluded from this presentation. * * Shared Expenses includes benefits for all school and municipal employees (including retirement, health & medical insurance), property & liability insurance for all Town buildings and the reserve fund. Services Provided Community Services Street Maintenance, Water & Sewer, LEXPRESS, Public Building Mainte- nance, Cemetery, Snow Removal, Parks & Forestry Maintenance, Recycling & Refuse Collection & Dis- posal rQ> Education Primary and Secondary Schooling (K -12), Minuteman Science - Technology High School i Public Safety Police Patrol & Enforce - ment, Traffic Control, Criminal Investigation, Fire Suppression, Fire In- vestigation, Fire Prevention & Emergency Medical Ser- vices, Dispatch l u Culture & Recreation Cary Memorial Library - Main Branch & East Lex- ington Branch, Recreation services & programs, Pine Meadows Golf Course Social Services Council on Aging & Senior Center, Veterans Affairs, Youth & Human Services Community Development Building Inspection, Public Health, Conservation, His- toric Districts, Planning, Economic Development & Zoning Enforcement General Government Finance, Legal Services, Town Manager, Town Clerk, MIS, Web Services, Boards & Committees Education Public 550 Safety 7¢ r�� Town of Lexington - FY 2008 Budget Summary Revenues Revenues FY 2008 Funding for services provided to Lexington residents comes from a variety of sources. Avai The Town is working to develop a more diversified and stable revenue base that will Fur protect against short -term fluctuations in any one revenue source and ensure ongoing 3 services. Total budgeted revenue is $148,795,549. This includes: 4 State Aid* 4 Local Receipts U Available Funds 2008 $8,994,407 $ 9,707,463 $5,354,971 2007 $8,304,953 $ 9,530,659 $5,889,821 4 Property Tax Levy Q Enterprise Funds 2008 $107,909,026 $16,829,683 1 $ 1 6!1008!1 24 8 2007 $99,607,647 $645,154 * FY 2008 figure subject to final state budget approval. $36 Enterprise Local Receipts 6.5% State 6.0 Major funds of revenue include: • General Fund (Property Tax Levy, State Aid, Local Receipts) • Enterprise Funds (Water, Sewer & Recreation) • Available Funds (Parking Meter Fund, Grants, Revolving Funds, Cash Reserves) Expenditures Expenditures total $148,795,549, which amounts to an approxi- mate 6.1 % increase over FY 2007. The FY 2008 budget increase is driven in large part by increases in fixed costs. They include: • Employee Benefits: Costs associated with benefits will in- crease approximately 9% in FY 2008. Although lower than recent years, employee benefits continue to be a major budget driver. • Facilities & Utilities: Energy costs continue to be a major Major Expenditure Categories Education $69 Municipal Services $26 Shared Exp. (Benefits, Within -Levy Debt) $28 Enterprise Funds (Water, Sewer, Recreation) $15 Misc. (Capital, Reserves, Exempt Debt, etc.) $9 Total $148 concern of the Town. The Town has entered multi -year con- tracts on electric and natural gas suppliers, helping to bring much needed stability and reliability to energy costs. • Special Education: Mandated costs for transportation and special education have greatly increased at a rate greater than other expenditures. The FY 2008 budget makes efforts to contain those costs by increasing in- district resources for special educa- tion programs thus reducing the need for costly out -of- district placements. Capital The FY 2008 Appropriated Budget provides for $36,693,149 of capital improvements. These include items as small as public works vehicles, heating and cooling systems, roof replacement and road maintenance & reconstruction. The largest of these improvements, a new Public Works Facility, was approved by the voters on June 5, 2007. Of the $36,693,149, $33,961,200 is to be funded by Debt (both within -levy and exempt), while $2,731,949 will be from oper- ating revenues (including cash and the Community Preserva- tion Act - CPA). Fly 2008 Capital Improvements Education $3,51000 Public Works (Gen. Fund, Water & Sewer) $6,48105 Public Works Facility $25,180,000 Public Safety $300,120 Recreation $367,500 General Government $208,490 Non - Governmental Initiatives (CPA) $645,154 Total $36 Our web sites: g Town: http: / /ci.lexington.ma.us M Schools: http: / / 1ps.lexingtonma.org