TOWN OF CHESTER PROPOSED 2017-2018 BUDGET
PUBLIC HEARING MAY 4, 2017TOWN MEETING MAY 25, 2017
1
ANTICIPATED 2017-2018REVENUE SOURCES
STATE OF CONNECTICUT2016-20172017-2018EDUCATION$652,069 $536,382GENERAL $418,419 $394,425TOWN TAXES AND FEESPROPERTY TAXES $11,222,110 $11,116,303PRIOR YEAR TAXES/INTEREST/FEES $140,000 $150,000LICENSES/PERMITS $67,200 $74,400GENERAL REVENUES $429,870 $437,200FROM FUND BALANCE$200,000 $200,000ESTIMATED TOTAL REVENUE$13,129,668 $12,908,710Decrease of $220,958 or 1.7% ($140,000 state decrease; $80,000 grand list calculation issue)
2
STATE REVENUE⇓
Chester anticipated state revenue of $930,807, (down $139,681) which currently represents 7.0% of the budget, is an estimated amount.Careful and conservative budgeting estimates in advance of an approved state budget. State budget approval likely to be delayed until July or August.State revenue not expected to improve over the next few years as the State struggles with reducing its own budget deficit, estimated at 2.2 billion for FY 17/18 and 2.9 billion for FY 18/19.State grant programs such as LOCIP and STEAP currently frozen. No new applications being taken.
3
SUMMARY OF PROPOSED EXPENDITURES 2017-2018
2016-20172017-2018TOWN GENERAL GOVERNMENT $3,905,015 $3,980,018INCREASE 75,003 (1.92%)CAPITAL BUDGET $498,096 $458,000DECREASE 40,096 (8.05%)CHESTER ELEMENTARY SCHOOL $4,379,332 $4,550,958INCREASE 171,626 (3.92%)REGION 4 SCHOOL DISTRICT$4,347,225$4,260,762DECREASE 86,463 (1.99%)*$13,129,668$13,249,738SPENDING INCREASE OF 120,070 OR .91% OVER CURRENT YEAR BUDGET.* Region 4 budget up 2.75% overall, decrease to Chester due to ADM.
4
BUDGET DRIVERS – INCREASES
Expenses are growing faster than the grand list, but are in line with overall inflation levels (approximately 2%). The Town is in good shape financially, with no surprises.INCREASED TOWN RESPONSIBILITY FOR COST OF RESIDENT STATE TROOPER PROGRAM.CONTRACTUAL OBLIGATIONS FOR TEACHERS AND UNION EMPLOYEESUNFUNDED STATE MANDATES(Stormwaterand Library Internet)INCREASED TREE MAINTENANCE AND FIRE INSPECTION REQUIREMENTS5. UPDATES IN TECHNOLOGY AT TOWN HALL(Telephone/computer updates)6. POCD AND STRATEGIC PLAN
5
BUDGET DRIVERS -DECREASES
Decreases in utilities, especially cost of electricity for streetlights and energy efficiency projectsReduction in fuel costs for heatingRestructured police staffingOne time roads decreaseRe-evaluation of vehicle replacement scheduleReduced medical insurance costs
6
CAPITAL BUDGET:
The Capital Budget allows the town to set aside funds for major purchases and maintenance of infrastructure. Underfunding the Capital Budget means deferring this maintenance and can lead to higher and unexpected repair or replacement costs.Based on last years evaluation we have continued to analyze infrastructure needs over the next 10 years, including:Protection and maintenance of the watershed and natural resourcesContinuing energy and money saving projects – Energy TeamMeeting House analysis – Meeting House CommitteePossible use of recycled/used boilers and guardrails
7
8
SUMMARY
1 MIL = $431,681.00Total New Revenue $12,908,710Total New Expenditures$13,249,738New dollars needed: $ 341,028 or .79 of a milCURRENT MIL RATE25.57Shortfall.79PROPOSED NEW MIL RATE 26.36
9
WHAT IS A MIL?
A mil represents $1.00 of tax paid on $1,000 in property assessment. Thecurrentmil rate is 25.57, meaning that each property owner is taxed $25.57 on each $1,000 of assessed property.The proposed new mil rate for 2017-2018 is26.36(increase of .79 mils)This represents an additional $55.30 per $100,000 of appraised value.Real Property is taxed at 70% of the property value.
10
11
ACCOMPLISHMENTS
Energy TeamTown Garage LED ConversionStreetlight Purchase and Pending Conversion to LEDIn Process – Solar Expansion Project Chester ElementaryChester Meeting House Safety Upgrade, New Stage Floor and Curtains, Infrastructure EvaluationIn Process – Prospect Street Culvert ReplacementCedar Lake Watershed Committee ActivatedRestructure of Police StaffingEvaluation and Planning to Control Costs for Bulky Waste in Partnership with Town of Deep River
12
Looking Ahead:
Awaiting LOTCIP grant approval; prep for Main Street Project III Construction 2018 or 2019.North Quarter Park RevitalizationChester Public LibraryRepair/Restoration of Meeting House – Infrastructure ImprovementsContinuing Energy and Money Saving ProjectsPOCD and Strategic PlanGOALS: Grow grand listif possibleReduce/share expenses – sustainable and self sufficient. Keep taxes stable.
13
0
Embed
Upload