Laserfiche WebLink
Town Accountant Sharon Angstrom said our reserves are at 7.7 Million. Our projected <br /> revenues for FY16 are an increase in property taxes by 3.3% and increase in local revenue <br /> by 3.6%. No significant changes. <br /> The health insurance RFP came in at 8.2% which is good because we budgeted for 8%. <br /> The town also received $300,000 in funds from the state for roads. <br /> Ms. Angstrom explained the operating budget can only go up 2.75% in FY16 if we use that <br /> • $1.7 Million free cash number. <br /> Borrowing will be going down because we just borrowed $11 Million for the library out of the <br /> $13 or $14 million total. <br /> Revolving funds have limited amount of uses which is why it's not included in the cash <br /> number. <br /> We have regenerated around $1 Million dollars each year the past couple of years however, <br /> we cannot rely on that to happen again because it is an unknown. <br /> Superintendent of Schools Dr. Doherty got explained the school budget. He noted the <br /> budget drivers were salary/benefits for employees, an increase in Special Ed, and non-union <br /> salary increases. He noted they made a reduction in substitute teachers and increased <br /> athletic fees. Dr. Doherty said they are trying their best to keep cuts out of the classroom <br /> but won't have a choice if it continues the way it is. <br /> FY17 will be the breaking point for continuing all of the services we offer today. <br /> Dr. Doherty stated they will not need more staff for the new modular classrooms so it would <br /> not affect the budget that way. He noted the schools fall short providing non-sped help for <br /> struggling students. Dr. Doherty said there is a growing gap between expectations of <br /> schools and services being provided. <br /> Mr. Dockser said this is why we need to sort out the towns priorities to figure out what we <br /> want, as a town. <br /> Mr. LeLacheur stated the level of service gap on the town side is large as well. The <br /> balanced budget took a 1 million dollar hit. He noted FY16 will be tolerable but FY17 will be <br /> a hard struggle. He also mentioned the elderly are a growing population in Reading and we <br /> are struggling to provide the services they need. <br /> Mr. LeLacheur noted we need to figure out what the town wants to be versus what we're <br /> willing to pay for. Our level of services will go down in FY17 if we don't get a random, <br /> positive surprise in the budget. <br /> Barry Berman asked if the town has a conservative state aid number because there is a <br /> shortfall in the state budget that may impact us. Mr. LeLacheur answered state aid will <br /> probably be shorter than 2.5% which is what we budgeted for. He noted there is a serious <br /> problem at the state level but there is no immediate impact to Reading. <br /> Dr. Doherty then went on to present the School Committee's presentation asking for <br /> modular classrooms. He explained three elementary schools have a large incoming <br /> population that requires more space. He noted there has been a steady increase in <br /> enrollment for full day kindergarten over the past couple years and they need space to put <br /> them or else they are going to have to do a lottery system. <br /> Nancy Docktor of Pearl Street said other states have had lawsuits over charging for full day <br /> kindergarten so she does not think it is responsible for the town to fund this when we can't <br /> count on tuition if Mass ever has a lawsuit and we have to stop charging. <br /> Page 12 <br />