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Home My WebLink AboutFY 2007 Budget SummaryFY 2007 Budget Summary � Town of Lexington 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 2007 Appropriated Budget The Town of Lexington approved a $139,744,181 operating and capital budget for Fiscal Year 2007. This budget includes the voter approved override of $1,858,435 which passed on June 5, 2006. Key aspects of this budget include: • Restoration of some core municipal services eliminated in previous years; • Continued strengthening of the Town's reserves; • Commitment to maintenance of Town infrastructure; and • Implementation of the Community Preservation Act Comparative Rates for Services Town of Lexington Statistics Population: 30,355 Founded: 1642 (as Land Area: 16.64 sq. mi. (Cambridge Farms) Registered Voters: 20,286 Incorporated: 1713 (ib Where your tax dollar goes* I 0.5¢ Social Services * * Shared DPW Capital Exp. 7¢ & Debt 18.5¢ 8¢ 1 I J 1 1 _T T T 3¢ 1¢ 1.5¢ General Comm Library Gov't. Dev. * Breakdown shown is for the FY 2007 general fund. The water, sewer and recreation enterprise funds are excluded from this graph. * * Shared Expenses includes benefits for employees (including retirement, health & medical insurance), property & liability insurance for all Town buildings and the reserve fund. Of the 18.5¢, approximately 3¢ is attributable to retirement costs, 10¢ for school - related benefits, 4¢ for municipal - related benefits and 1.5¢ for other costs. Services Provided Education Primary and Secondary Schooling (K -12), Minuteman Science - Technology High School Community Services Street Maintenance, Water & Sewer, LEXPRESS, Public Building Mainte- nance, Cemetery, Snow Removal, Parks & Forestry Maintenance, Recycling & Refuse Collection & Dis- posal Public Safety N Police Patrol & Enforce - ment, Traffic Control, Criminal Investigation, Fire Suppression, Fire In- vestigation, Fire Prevention & Emergency Medical Ser- vices, Dispatch LU 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 & Zoning Enforcement General Government Finance, Legal Services, Town Manager, Town Clerk, MIS, Web Services, Boards & Committees Education Public 530 Safety I 7.5¢ r�� Town of Lexington - FY 2007 Budget Summary Revenues Funding for services provided to Lexington residents comes from a variety of sources. The Town strives to maintain a diversified and stable revenue base that will provide shelter from short -run fluctuations in any one revenue source and ensure ongoing services. Total budgeted revenue is $139,744,181. This includes: Revenues FY 2007 • General Fund (Property Tax Levy, State Aid, Local Receipts) • Enterprise Funds (Water, Sewer & Recreation) • Available Funds (Parking Meter Fund, Revolving Funds, Cash Reserves) 4 State Aid* 4 Local Receipts QAvailable Funds 2007 $8,875,774 $10,415,211 $5,622,260 2006 $8,603,524 $9,674,610 $1,382,484 Q Property Tax Levy 4 Enterprise Funds 2007 $98,309,370 $16,521,566 2006 $89,868,589 $15,112,454 * FY 2007 figure subject to final state budget approval. Local Receipts 7.5% EnterprisE 11.8% Available Is / Higher levels of state aid are the result of modest increases in programs for education and higher lottery distributions. Total state revenue allocated to Lexington remains below FY 2002 levels. Local receipts and available funds are higher this year, due in large part to one -time increases from the dissolution of the Northeast Solid Waste Compact (a regional waste disposal facility) and higher investment income. Property taxes will go up in FY 2007, due to the allowable increase under Prop. 2 V2 , the successful passage of the Community Preservation Act (see enclosed brochure) and a $1,858,435 operating override. Enterprise revenue increases will be sufficient to cover the full costs of these programs (water, sewer and recreation). Expenditures Expenditures total $139,744,181, which amounts to an approxi- mate 7% increase over FY 2006. The FY 2007 budget increase is driven large part by increases in fixed costs. They include: • Employee Benefits: Costs associated with benefits will in- crease approximately 22% in FY 2007 due primarily to pre- scription drugs and an increasing number of retirees. Facilities & Utilities: Costs to maintain, operate and reno- Misc. (Capital, Reserves, Exempt Debt, etc.) $10,032,651 vate all Town properties are increasing in FY 2007. Driving this increase is an estimated 30 -45% increase in the costs of utilities - natural gas, electricity and heating oil. New build- ings (schools, Cary Library) are designed to be much more efficient than before. Modern building codes, however, have greater safety and environmental requirements that increase operating and maintenance costs. Special Education: Mandated costs for transportation and special education have increased at a rate greater than other expen- diture s . Capital The FY 2007 Appropriated Budget provides for $7,543,000 of capital improvements. These include items as small as public works vehicles to as large as infrastructure improvements (such as heating and cooling systems, roof replacement and road maintenance & reconstruction). Of the $7,543,000, $6,013,000 is to be funded by Debt, while $1,530,000 will be from operating revenues (including cash and the Community Preservation Act - CPA). Major Expenditure Categories Education Category Amount Education $63 Municipal $25 Shared Expenses (Employee Benefits, Debt) $26 Enterprise Funds (Water, Sewer, Recreation) $14 $7 Total $139,744,181 FY 2007 Capital Improvements Education $2 Public Works (Gen. Fund, Water & Sewer) $3 1 595 1 000 Public Safety $1 Recreation $300 General Government $60 Total $7 Our web sites: g Town: http: / /ci.lexington.ma.us M Schools: http: / / 1ps.lexingtonma.org State Aid