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FY 2015 Budget Update

FY 2015 Budget Update. Board of Selectmen Board of Selectmen February 18, 2014. FY2015 Budget Update. Revenue Projections Operating Budget Educational Budget(s) Capital Budget. Revenues. Allowable Growth estimated $819,800 Local Receipts increase $ 40,000

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FY 2015 Budget Update

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  1. FY 2015Budget Update Board of Selectmen Board of Selectmen February 18, 2014

  2. Chatham Budget Update Feb 18, 2014 FY2015 Budget Update • Revenue Projections • Operating Budget • Educational Budget(s) • Capital Budget

  3. Chatham Budget Update Feb 18, 2014 Revenues • Allowable Growthestimated $819,800 • Local Receipts increase $ 40,000 • Departmental Fees review • Transfer Station Fees – increase may offset tax levy • State Aid Governor’s (House 1)

  4. Chatham Budget Update Feb 18, 2014 FY2015 Revenue

  5. Chatham Budget Update Feb 18, 2014 Tax Levy (not Tax Rate) • Property Tax FY2015 –Allowable Growth • $30,533,306 vs $30,008,306 • now $30,033,159(all inclusive) • 2.33% increase (projected) • Local Receipts • Transfer Station Fee Increase • Other Available Funds • Old Articles, Waterways; • Flat to FY2014 based on Gov’s H1 (1/22/14)

  6. Chatham Budget Update Feb 18, 2014 Tax Levy

  7. Chatham Budget Update Feb 18, 2014 Local Receipts

  8. Chatham Budget Update Feb 18, 2014 FY2015 Operating Budgets Continued on next slide

  9. Chatham Budget Update Feb 18, 2014 FY2015 Operating Budgets

  10. Chatham Budget Update Feb 18, 2014 FY15 Expenses

  11. Chatham Budget Update Feb 18, 2014 Operating Budget (Article 6) • FY2015 proposed - $27,166,672 • $27,183,314 • Increase of $250,460 • $267,102 • 0.93% over FY2014 • 0.99%

  12. Chatham Budget Update Feb 18, 2014 FY2015 Changes from Jan 28, 2014 Operating Budget • Community Development • Increase $16,642 • Monomoy Regional Schools • Decrease $26,595 • CCRTHS • Decrease $30,781

  13. Chatham Budget Update Feb 18, 2014 FY2015Capital Plan Changes • Police Vehicle – 1 additional for a total of three vehicles for FY15 • Adds $32,000 (tax levy & old articles) • Outboard Engine – for patrol boat • Adds $10,000 (from Waterways Improvement Fund)

  14. Chatham Budget Update Feb 18, 2014 5 Five Year Capital Plan

  15. Chatham Budget Update Feb 18, 2014 Capital Plan

  16. Chatham Budget Update Feb 18, 2014 Educational Assessments(Separate Articles) • Monomoy Regional • Overall Increase of 11.1% 10.9% in assessment to Chatham ($819,604) • 793,009 • Total Operating Budget 0.88% increase • Required Minimum Contribution • $336,245 due to change in FY14

  17. Chatham Budget Update Feb 18, 2014 Monomoy Regional School District

  18. Chatham Budget Update Feb 18, 2014 Cape Cod Regional Tech High School • Budget Presentation 1/29/14 • Actual decrease in Chatham’s assessment • Down 2 students from FY2014

  19. Chatham Budget Update Feb 18, 2014 Cape Cod Regional Tech High School

  20. Chatham Budget Update Feb 18, 2014 Next Steps • Board of Selectmen Recommendations • Board of Selectmen Recommendations • Presented 2/18/2014 • Budget Updates • Tax Levy – estimate • Sustainability – • 5 year forecast (update)

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