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2011-01-26 Finance Committee Packet
.he Town of Reading - Financial Forum III http://www.readingn4.gOv/Pages/ReadingMA--MeetingCal/SO1687A... Wednesday, January 26, 2011 at 7:00 PM Senior Center Printer-FriendN Version Avg homeowner. FY11 budget summary - Bob (5 min) Update on revenues free cash status) - Gail (10 rains) Update on accommodated costs Bob (10 mins) Overview of town budget - Peter (15 mins) Overview of school budget-John (15 mins) Past Financial Forums FY12 budget update - Bob (5 minutes) Budget process comments / questions from participants - (30 min) Capital & Debt update - Bob (20 rains) Minutes - December 8, 2010 ~Google Search Adjourn Ca"ON C. use. Town of Reading, Massachusetts 16 Lowell Street, Reading, MA 01867 Website Disclaimer Virtual Town Hall Website 1/26120112:36 1 of 1 N Criteria for Evaluating Capital. Projects Town of Reading, MA The following criteria are used by the Town Manager to determine priorities for requested Capital projects to be included in the Capital Improvement Program. Guiding principles include: Let's keep our commitments to public good by taking care of what we've inherited to the best of our ability, ® Let's keep.our commitment to future generations by making prudent investments that will enhance the quality of life long term These criteria are not listed in any order of priority. 1. Project addresses a life health/safety deficiency (example - inadequate fresh air into an office) 2. Project maintains or improves public safety (example - replacement of Police and Fire radios) 3. Project is required to address an inadequacy that makes a particular portion of the infrastructure non-conforming to state or federal law or regulation which is binding upon the Town (example - HC' access improvements to a public building) 4. Project will result in. substantial and measurable- cost savings (example - energy improvements) 5. Project replaces infrastructure that has reached or is about to reach the end of its physical or functional life, or the project will prolong the physical or*functional life of the infrastructure asset (Example - road improvements) 6. Project is a high priority to the requesting department and is essential. to its operation (example - replace stack shelving in the Library) 7. Project takes advantage of one-time or unusual opportunities that benefit the Town of Reading (Example'- purchase of a critical parcel of land at a lower price because of a slumping economy) . 8. Project leverages Town resources to accomplish a community goal at lower cost to the Town (Example -purchase of a parcel of land a portion of the cost of which is paid for through a one time gift or grant) 9. Project advances a key goal of the community in making an improvement beyond what exists currently (Example - development of, an additional elementary school) Note - examples are actual situations that .the Town is dealing with currently, or has dealt with in the recent past. 4/13/2010 Na OFRegO'y c 6j9-INC~R4~ C own om'f Reading ~-a '~4 ~a11 1 ~r~~`~~ 3 Wv~ U ~F7 L p.~ rvT' Vim: t ~ a ` x "t r January 26, 2011 Flnanciai ®ru FYI 2 Budget, _ Y Q`N OFR~~' yC ,~9'(NCORp~ Financial Forum January 26, 2011 Property Taxes Net State & Fed Aid Other local revenues. Cash Reserves TOTAL 5,500 1,361 1,051 69% 17% 13% 101 8,013 100% OFR O ~ t ~ya 639-fHC0RPo Financial Forum January 22011 F 1 Typical Homeowner Use of Funds FY 2011 Actual Regular Day Eduction $ 2,315 29% BTployee/Retree Benefits $ 1,261 16%'. Infrastructure 1,235 , 15% Special Education $ 995 12% Public Safety $ 834 10% Public VAbrks $ 583 7% Town Mgt & Finance $ 283 , , 4% School KAgt & Other $ 257 3% ry Public Libra $ 132 2% Corrrrunity Services $ 117 1%, TOTAL _ $ 85013 100% ~oaN OFR~O/ . 6J9:lXCOPp~~P Financial Forum - January 6, 2011 FY12.Revenues (New growth adds $150k since October'10) FY11 FY12 Change Prop. Taxes $51.20 mil $52.65 mil +$1.45 mil Local Revs. $ 5.26 mil . $ 5.32 mil .06 mil Intergov't $13.30 miI $11.71 -mil 1.59 rail Trf &Avail $ 4.26 mil $4.24 mil .02 mil SUB-TOTAL $74.02 mil $73.94 mil - $.08 mil Reserves $ 1.25 mil $1.50 mil .25 mil TOTAL $75.27 mil $75.44 mil + $.17 mil OFF? t G,I9_/HCORR~ Y Financial Forum January 26, 2011 State Aid - Governor Patrick's recent budgets • FY09: $13.729 million (actual* was $370k less, or -2.7%) • FY10: $13.014 million (actual was $798k less, or -6.1 • FY1 1: .$13.193 million (actual was $700k less, or -5.3%) • FY12: $12.345 million- (assuming small items unchanged) • FY12 staff estimate $11.564 million w/ same assumptions - Estimate is $78:1 k below Governor, or -6.3%, which is roughly in line with this Governor's recent budget history (shown above) The net includes $974k in Federal ARRA funds. State-only aid was $1.344 million below the Governor's budget, or -9.8% o qty OFRQ' l 6S9-tHC0R4O4f Financial Forum January 26, 2011 State Aid - Governor Patrick's budget ® last year • FY11: Staff estimate was $1.774 million below Gov. budget -Kept $802k aside in light of FY1.0 experience (-$798k) - Added $972k to FY11 budgets. • $354k for schools • $158k for municipal govt • $460k for health insurance & Voke school enrollment • RESULT: FY11 actual.S-tate aid was about $100k higher than our adjusted estimate - needed to avoid revenue deficit • FY12: Cannot reasonably anticipate much more state aid than current staff estimates, based on history & MA fiscal reality ~o~N oFe~o'y a, - a 63g'fHCOR4~RP Financial Forum January 26, 2011 Reserves as of January 2011 Free Cash 6/30/10 $ 43953,340 • November TM Article 4 - $ 87,000 • November TM Article 11 - $257,000 $ 4,609,340 - General Stabilization F-und $ 1,524,831* - FINCOM Reserves $ 1507000 - TOTAL $ 652845171 - is 8.7% of estimated $72 million FY12 net available revenue - *total excludes RMLD share of betterments for Causeway Road - **total excludes funds designated for specific purpose .C~~ty OFq~o'y ! J9: (HCORR~ Financial Forum. January 26, 2011 FY12 Accommodated Costs Update $ 12.7 mil Benefits $ 7.0 mil Capital & Debt (-$200k) $ 2.0 mil Energy (-$300k) $ 0.6 mil Financial $ 3.8 mil Education - out of district SPED (-$300k) $ 0.4 mil Education Vocational $ .2.8 mil Miscellaneous $29.4 mil Total Accom. Costs (-$8,00k vso Oct'10) This allowed the operating budgets to project at -0.5% for FY12 instead of -1.75% as stated in October. This assumes full use of $1.5 million in reserves in FY12. This change added $189k to the Town budget and $389k to the School budget. ~oaP °FREt0 ~Q ~ ~ IHCORpR~~O Financial Forum January 26, 2011 FY1 Accommodated - ost Update. October ' 10 Health Insurance estimate: FY11 budget $7.625 million - exactly on target FY12 assumption +10%, or $8,387,500 enrollment trends +3%; prices +7% January 11 Update: Enrollment trends slowed to +1.5%, with projected FY12 Layoffs a flat assumption seems reasonable. MIIA pool average +11.6%; range +6.0% to +16.5% If average: budget needs +$122,000 If best/worst: budget needs -$305,000 to +$496,000 OFt{ o ~a J9: /NC~Rp~p Financial Forum January 26, 2011 I In 000s FY11 FY12 FY13 FY14 Projected $745021 $733936 $753428 $775314 Revenues (-0.1%) 11110 use of reserves Accomm. $293142 $29,400 $31,062 $325615 Expenses (+0.9%) (+5.7%) (+5.0%) 1es/xp $465132 1$46,292 1$465292 $46,292 held at 0% I Budget Gap ($1 9253) ($19756) ($1,926) ($1,593) ~oaN OFR~'y ,J9eINCORQ~ In 000s FYI 1 FYI 2 FYI 3 Y14 Budget ($1,253) ($19756) ($1,926) ($19593) Gap Free-Cash $15253 $15500 $1,000 $500 Used Cuts from ($256) or ($926) or ($1,093) or 0% ®per. -0.5% ®2.0% -2.4% Reserves $6,284 $41,784 $3,784 $33284 left or 8.7% or 6.6% or 5.3% or 4.6% OaN Of F? 4. O Ts~•~ z ~ S~.vT`~" Rpo P{" Financial Forum January 26, 2011 FYI 2 Budget. Summary Shortfall vs. Level Service (least likely outcome) Schools I Town I TOTAL If Level $1.0. Mil.- .--$0.5 mil. -$1.5 mil. Funding (-2.7%) (-3.4%) (less likely) Reduced ®$1.4 mil. -$0.6 mil. -$2.0 mil. 0.59/6 (most (-3.4%) (0 0 likely) If no free -$3.5 mil. cash used ~QaN DEREap~y l J9+fNC0Rp~ Financial Forum • School Facilities FY12 budget presentation from from Municipal Government _ Level Level Operating Budgets Amount Service Service Level Service (least likely) $ 155312,659 Level Funded (less likely) $ 14,7955831 3.4% $ 516,828 Reduced 0.5% (most likely) $ 14,713,692 3.9% $ 5983967 oyiy OF£ti ~---err---r,~ yC cs' ! Jy+tHCOAQ ~ Financial Forum January 26, 2011 FY12 Budget: All Depts. Reduced 0.5% (Was -1.75%; lower energy & Sped costs as of Dec. 10) FY11 FY12 ' Town Administration 3735646 3711554 -0.5% Accounting 1573320 156,439 -0.5% Finance 116441210 1,6353002. -0.5% Community Services 9611572 9561187 -0.5% Library 152293678 152223792 -0.5% Public Works 23681,824 2,666,806 -0.5% Public Safety Police 3,716,421 3,695,609 -0.5% Dispatch 447,488 4443982 -0.5% Fire 3,583,672 3,563,603 -0.5% 14,7955831 14,7129974 -0.5% FY12 Budget: All Depts. Reduced 0.5% • Projected layoffs of three (3) police officers • Projected layoffs of three (3) firefighters • Difficult to accurately project Overtime for Public Safety. • Possible firefighting equipment idle at times CONCLUSION: Unacceptable choice for Town OFR yC ~9'fNC0R40P Financial Forum January 26, 2011. FY12 Budget: Keep Public Safety `whole' Reduce all other Departments by 3.9% (Was -6.4%; lower energy &:Sped costs as of Dec. 1 0) Town Administration Accounting Finance Community Services Library Public Works Public Safety Police Dispatch Fire FYI 1 F'Y12 373,646 359,074 -3.9% 157,320 151,185 -3.9% 1,644,210 1,580,086 -3.9% 961,572 924,071 -3.9% 1,229,678 1,181,721 -3.9% 2,681,824 2,577,233 -3.9% 3,716,421 3,795,650 2.1% 447,488 423,544 =5.4% 3,583,672 3,716,872 3.7% 14,795,831 14,709,434 -0.6% ~oqN OFf7pgp'y ,,HC~Rp~P Financial Forum January 26, 2011. FYI 2 Budget: Keep Public Safety-'whole' Reduce all other Departments b 3.%® ® Projected loss of library hours Projected loss of key DPW mechanic position • Nearly impossible to reduce small departments (Town Administration & Accounting) CONCLUSION: Unacceptable choice for Town ~oaN OFF; J63grtNCOR4~ CS Financial Forum January 26, 2011 Guiding. Principles. - Sustainable & Realistic - Retain strong financial position - Deal with employees equitably - Recognize "common practice in addition to "best practice" - Focus on work production and direct customer service - Simplify/streamline regulations, administrative processes, procedures; Reduce/eliminate regulation that the community does not have the resources to administer - Short and' long range efficiencies, regional opportunities, organizational changes, outsourcing of services a~~N oee 63g Inn 9. Financial. Forum- January 26, 2011 Guiding Principles .(continued) - Partner with residents and property owners to accomplish important municipal functions - Preserve Public Health/Public Safety services at a high level - Prioritize Education - Maintain appropriate services to assist those in need - Maintain ability to emerge from the current economic circumstances in a strong position (Economic Development) ~u ccs~ SS i`l~~ a OF RF~O'y c 39-fNCOR4~¢ Financial Forum January 26, 2011 FYI 2 Budget: Torn Manager de Focus on Core customer services FY11 FYI 2 Town Administration 373,646 366,791 -1.8% Accounting 157,320 158,079 0.5% Finance 1,644,210 1,552,376 -5.6% Community Services 961,572 854,958 -11.1% Library 1,229,678 1,223,530 -0.5% Public Works 25681,824 2,616,284 -2.4% Public Safety Police 3,716,421 3,797,615 2.2% Dispatch 447,488 423,544 -5.4% Fire 3,583,672 3,7161872 3.7% 1457955831 1437113309 -0.6% moo` N OF FR? 6~9'~NCORQ~ Financial Forum January 26, 2011 FY12 Town Manager Budget Reductions versus Level. a ice: $602,610 • Wages - $480,043 (-3.6%) - Reduce salary increases $86,037 - Eliminate positions/reduce hours $394,006 • Expenses - $122,567 (-6.5%) - Finance Dept. $59,400 (Banking $29k & Technology $23k) - Public Safety $22,780 (many small changes) - Library $22,004 (Materials $17k, at 14.1% of total) o`ab oFeFq~i yc S`~9rINCORPO~~ Staffing LeveOs FY12 Town Manager Budget: -Total Budgets FY 2007 FY2008 FY2009 FY2010 TOWN ADMINISTRATION 2.50 2.50 2.50 2.40 COMMUNITY SERVICES 16.40 18.20 19.20 17.50 ACCOUNTING 2.50 2.50 2.50 2.50 FINANCE 18.60 18.40 18.30 19.60 PUBLIC SAFETY. 98.80 99.80 101.80 101.80 PUBLIC WORKS 43.50 .43.50 43.50. 43.00 LIBRARY 19.70 19.70 19.70 19.70 TOTAL 202.00 204.60 207.50 206.50 1.3% 1.4% -0.5% FY2011 2.40 16.90 2.50 19.60 101.80 43.00 19.70 205.90 -0.3% FY2012 5-year 2.32 -7.2% 14.93 -8.9% 2.45 -2.0% 19.00 2.2% 101.40 2.6% 42.00 -3.4%- 19.70 0.0% 201.80 --0.1% -2.0% OFRFRp~y . c ~ Ewa 63gfNCORYp4 omoiia zation Make a grant application to the State to develop a fully consolidated Public Health District.with other community (ies) • Secure another community or communities to partner with Reading on.; - tax assessment, - plumbing/gas inspection, wiring inspection, - conservation administration, - elder/human services administration, - public health administration OFgo'b - i3g-1NCORR~R Rvuionalization W ~ CC3 O C13 O a~ Q O O O CX3 - m © Z Z C/D Z~t Q Conservation AgenVAdministrator Assistant AgentlAdministrator Field Inspector Clerical Assistance TOTAL 1.0 0.5 1.0 0.4 0.5 1.0 0.55 1.0 0.5 1.0 0.19 1.0 013 1.0 0A 0.5 1.0 036 0.2 2,6 0.5 0.0 3.0 0,6 0.5 0.5 2.0 1.2 1.2 OFP - c 6J9'tNCONpp4 Res~gonalization W o V Elder/Human Services Adrn i nistrator/D i rector Assist/Program Coord. Social Worker Nurse Advocate Outreach Worker Ilan Driver Clerical-Assistance TOTAL 0 o - c m o 1.0 1.0 1.0 0.4 1.0 0.8 o CIO a -o QD a~ L Z 0 0 0 CU a z z CIO Cr 1.0 1.0 0.8 1.0 1.0 0.98 1.0 1.0 1.0 0.3 1.0 0.3 0.59 0.9 1.3 0.1 0.4 2.2 0.8 0.4 1.0 1.0 1.0 1.0 0.5 1.5 1.0 0.4 0.5 5.9 3.8 2.8 4.5 3.0 1.5 3.9 1.0 0,25 1.0 1.0 0.13 0.5 0.9 0.34 1.0 0.79 0.9 1.0 086 0.5 6.2 3.9 4 .8 GFI? p N"'_, ~O 3. 6J9-INCORPO~C Regioraalization Public Health Director/Administrator Agent Environmental Engineer nspectorlSanitarian Nurse Clerk Assistance TOTAL o , ~ a L~ Z3 Ca 03 C:) 1.0 1.0 1.0 1.0 1.0 W ~S vJ W O :;~t 'a Q.3 ca ~C -cz O -.CZ --cz a~I i L cz O ~ 0 0 1.0 1.0 1.0 W W O cu ~ ' cry ~ z O ~ i Z 0.3 R 1.0 0.75 1.0 0.38 0.13 1.0 0.48 1 .1 1.0 0.49 0.8 1.0 0.80 0.8 4,0 3.01 3.7 1.0 1.9 5.9 2.0 1.0 1.8 1.0 0.7 0.7 0.5 1.5 1.0 1.0 5.0 3.7 290 1 .5 0,0 Department Review: Administration • Eliminate 15hr/week Administrative Secretary position • Share Community. Services Administrative Assistant (12hrs/week) to complete essential functions of eliminated position activities Department Review: Finance • Reduce clerical hours in total • Eliminate seasonal appraiser position • Re-arrange staff to focus on customer contact • Reduce professional development to essential activities • Implement staff suggestion to bring lock-box expense in-house • Reduce postage (use new mass communications system) • Reduce technology expenses - shift focus from preventative to reactive repairs & slow PC replacements from 3yr to 4yr cycle Department Review: Public Safety Police • Workload for department is increasing - budget keeps FTEs • Abide by existing negotiated contracts for both Police unions • Overtime increased 12%, offset by other discretionary wages • Reduce professional development (training) • Reduce various expenses Department Review: Public Safety - Dispatch • Reduce PT FTEs slightly • Overtime increased by $31200 - has been stable for years • Reduce professional development (training) • Recognize full value of State Grant • Reduce various expenses ~av P OFR~Oiy l ~9.lNCOPQ~~ FY12 town Manager nu dget Department Review: Public Safety Fire/EMS • Workload for department is increasing - budget keeps FTEs • Abide by existing negotiated contracts for Fire union • Overtime increased by 20% to reflect expected actual costs if fully staffed - has been underfunded for a few years • Reduce various expenses Department Review: Public Works • Move one engineer from the general fund into the storm water fund • Eliminate one seasonal Parks employee • Reduce Overtime to reflect historical patterns • Reduce professional development-to essential activities • Increase funding for internal & external equipment repair Enterprise Funds • Storm Water -$40/SF home; future capital/debt projects (river cleanups) • Water -MWRA interest-free debt 1 year sooner than ideal Sewer- big capital. projects on the horizon 0 MWRA rates - assumed at 2.5% for both water and sewer. Department Review: Community Services • Regionalize several functions (-1.7 FTEs) • Eliminate Permits Coordinator • Share support staff with Town Administration • Add clerical position if needed for customer service • Reduce professional development to essential activities • Reduce other expenses as possible Department Review: Library. Close the library 13 Saturdays in June, July & August Eliminate .some pages from Circulation division and Children's Services Further reduce support positions by 2.5% in hours 0 Reduce the materials budget - other resources available ,CO~jy OFR£QO''Y GJ9 ¢P 'INCORQ~ F Y12 TUwn Manager Budget Capital- Debt ® Debt service for Green Repairs in progress inside tax levy; Library project impact outside tax levy (debt exclusion) Balanced CIP versus expected funding for the next few years Funding for Capital and Debt is 5% per FINCOM policy, PLUS $300,000 from performance contracting/energy savings Employee Benefits & Miscellaneous Health insurance - unknown o Health Insurance enrollment has slowed Pension - up 4.5% to make up for prior losses O~ty OFR~' Oy sir- 'e ~ u° 3 63g~fxCaF dditional proposed actions. Legislative Action Rescind the Reading Wetland Bylaw - state law provides protection, and administering the state law and the local law is time consuming, redundant, and confusing to customers Roll back-the Historical Demolition Delay Bylaw to 6 months Amend General Bylaw at the Annual Town Meeting requiring property owners to clear their own sidewalks of snow and ice Amend the Charter to appoint the Board of Assessors, and have the Town Manager appoint the Assessment staff U Amend Zoning bylaws and/or CPDC regulations to limit and streamline Site Plan Review requirements. 46 Amend the Zoning Map and Zoning Bylaw to have zoning district boundaries follow property lines as closely as practical Adopt 43D expedited permit for the industrial areas off of Ash Street behind the RMLD. ~oqN RFR, a 3, e 639jINCOR dditi.onal proposed .*actions: Administrative Action Implement the new CAMA system in the Assessor's office ASAP, except that if regionalization of the Assessment function is feasible, delay this process until a partner can be attained Complete the procurement process for the Licensing & Permitting software and necessary hardware Establish a policy regarding the responsibilities of the Trust Fund Commissioners,' and delegate to the Division of Elder/Human Services. the administration (not the fiduciary management) of the Hospital Trust Funds Establish a policy of "carry in - carry out for rubbish in parks, and school grounds. Overview of Capital & Debt Spending Next Year - FYI 2 - Total Capital Debt School Buildings 29% 1,103,445. 49,000 1,054,445 Town Buildings 15% 577,000 157;000 420,000 Energy 17% 633,013 139,000 494,013 Recreation 6% 223,565 45,000 178,565 Equipment 10% 375,710 83,000 292,710 Roads 15% 556,900 475,000 81,900 Technology 8% 286,000 - 286,000 3,755,632 948,000 2,807,632 Next Ten Years Total Capital Debt School Buildings 25% 10,937,997 3,636,000 7,301,997 Town Buildings 9% 4,150,000 2,535,000 1,615,000 Energy 14% 6,036,358 604,000 5,432,358 Recreation 12% 5,283,420 4,932;000 351,420 Equipment 19% 8,239,780 7,017,200 1,222,580 Roads 17% 7,645,609 7,125,000 520,609 Technology 4% 1,641,500 1,075,000 566,500 43,934,664 26,924,200 17,010,464 Planned 10yr Infrastructure Spending . 'technology Roads 4% School Buildings 17% 1 25% fl Equipment T own Buildings 0 19%• ~~7 9/0 Recreation Energy 12% 14% CO -ph Town of Reading, MA Available Revenue annual % NAR policy - debt & capital it Schedule - Net Included Debt Allowance for'energy sav FY-2011 I FY-2012 FY-2013 FY-2014 FY-2015 FY-2016 FY-2017 FY-2018 FY-2019 FY-2020 FY 2 12556 2.50% 2.503vo 250% 250% 2.5096 2.50% 2.50556 3,540,577 7,533,187 . 3,608,358 3,698,557 3,791,031 3,885,807 3,982,952 4,082,526 4,164,589 4,289,204 283 1 4,396,434 745 896 39,452,755 464 010 17 2,897,776 2,807,632 2,397,364 2,033,672 1,940,584 1,753,542 1,666,238 1,563,197 1,000,208. 95 , 00 , 000 300 , , 000 000 3 317,869 300,000 300,000 300,000 300,000 300,000 - _ 300,000 300,000 300,000 on, 300,0 o eon no•t , - 7no RRO , , , 962 - - Dedicated funds to roads (425,000) 670 35 (45u,uuu) 000 498 touu,uuu) 000 900 toau,uVU) 895 1 414 kuvv,...) 550,448 1 1,782,265 " 1,916,714 2,069,329 2,684,381 2,787,921 . - 2,899,689 18,503,642 Allocate to other requests , 5 , , , , , - - 000 120 100;000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 920,000 Schools - Equipment Buildings-Schools (non Energy) 1,020,000 49,000 , 105,000 127,000 471,000 526,000 130,000 39,000 1,504,000 685,000 000 25 000 26 3,636,000 000 364 Buildings- Schools (Energy) 1,000,000 74,000 12,000 12,000 - 000 30 42,000 000 327 158,000 000 469 202 000 15,000 289,000 , , , 2,535,000 Buildings -Town (non Energy) - 157,000 70,000 1,000,000 , , 000 20 , 000 20 , 15,000 _ - - 240,000 Buildings - Municipal (Energy) 65,000 120,000 - • , , _ _ _ 160,000 Library - 000 255 - 000 14 120,000 36,000 20,000 155,000 20,000 69,000 - 654,000 316,500 _ 90,600 150,000 849,000 339;000 2,673,100 Public Safety - Fire , , - 000 35 211,000 10,000 '35,000 291,000 Public Safety - Police - 115 000 000 69 300 224 , 249,800 293,100 275,100 653,900 763,400 504,800 914,700 _ 4,048,100 PublicWorks - Equipment. , 000 45 , 000 45 , 75,000 778,000 295,000 200,600 545,000 730,600 1,450,800 767,000 45,000 4,932,000 Public Works - Parks & Cemetery , 000 558 , 000 475 000 525 575,000 625,000 675,000 750,000 800,000 850,000 900,000 950,000 7,125,000 Public Works - Roads , , , 100 700 B29 Z 400 142 3 600 740 2 4,989,600 4,240,700 1,460,000, 26,924,200 TOTAL CAPITAL 2,993,000 948,000 1,407,300 3,051,800 2,114, , , , , , , 000 850 900 000 000 750 6 Dedicated to, Roads (previous over-ride) 425,000 450,000 500,000 300 07 550,000 800 2 501 600,000 100 514 1 650,000 700 2 179 700,000 2,442,400 750,000 1,990,600 800,000 4,189,600 , 3,390,700 , 560,000 , , 20,174,200 Capital Requests above.road portion 2,568,000 000 568 498,000 000 498 , 9 900,000 , , 1,414,895 , , 1,550,448 . , , 1,782;265 1,916,714 2,069,329 2,684,381- 2,787,921 2,899,689 18,503,642 Capital Funding to allocate lus (Deficit) Annual Sur , (2,000,000) , (7,300) (1,086,905) 36,348 (397;435) (525,686) 76,729 (1,505,219) (602,779) Z,339,669 558 670 p fi it) D l i S (7,300) (1,094,205) (1,057,858) (1,455,293) (1,980,979) (1,902,249) (3,407,468) (4,010,247) ) , (1, 00 c us ( e urp ve Cumulat 000 71 526 000 000 130 000 39 1,504,000 685,000 3,636,0 School Buildings 49,000 105,000 127,000 , 4 , 000 327 , 000 469 , 202 000 280 000 - 2,535,000 Town Buildings 157,000 000 70,000 132 000 1,000,000 000 12 30,000 - , 62,000 , 178,000 , 15,000 , 15,000 25,000 26,000 604,000 Energy Facilities Capital 139, 345,000 , 307,000 , 1,139,000 501,000 915,000 777,000 256,000 1,799,000 710,000 283 951 26,000 745 896 6,775,000 354 14 349 Facilities Debt 1,968,457 1,579,376 1,757,517. 1,671,406 1,595,333 1,513,353 353 9 1,415,677 677 671 1 1,000,208 208 799 2 , 661 283 1 , 9Z2,745 , , 21,124,354 Facilities Total 2,313,457 1,886,376 000 75 2,896,517 000 778 2,172,406 000 295 2,510,333 200,600 2,2 0, 545,000 , , 730,600 , , . 1,450,800 , , 767,000 45,000 4,932,000 Recreation 45,000 83 000_ . , 300 400 , 459,800 , .418,100 939,100 970,400 854,000 789,800 1,763,700 339,000 7,017,200 Equipment , 000 475 , 000 525 575,000 625,000 675,000 750,000 800,000 850,000 900,000 950,000 7,125,000 Roads , - , 000 100 100,000 275,000 100,000 100,000 100,000 100,000 100,000 100,000 1,075,000 Technology Other Capital 603,000 , 1,100,300 1,912,800 1,613,100 1,914,700 2,365,400 2,484,600 3,190,600 3,530,700 1,434,000 20,149,200 109 661 2 Other Debt 839,175 817,988 276,155 269,178 158,209 152,885. _ 147,520 ,nn enn z -F7nn 1 d24 nnn , , 22810.309 -lP. Debt Service Schedule FY11-FY25 Town of Reading FY - 21 Budget Requested Projected Projected Projected Projected Projected Projected Projected Projected Projected Projected Projected Projected Projected 11191111:42 PM 'FY - 2011 FY - 2012 FY - 2013 FY - 2014 FY-2015 FY-2016 FY-201 7 FY-2018 FY-2019 FY-2020 FY - 2021 FY-202 2 FY- 2023 FY - 2024 FY - 2025 Debt Service Schedule $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ Principal 4,165,000 000 595 it 2 Li L 4,185,000 000 570 2 3,yJ5,580 580 250 2 s,b ia,anU 890 580 1 s,oaa,aou 1,870,580. J,UUJ,JUU 1,755,580 J,uovryvv 11740,580 a,•vv,v v 1,710,580 1,2151580 1,215,580 1,210,580 740,580 635,000 635,000 330,000 , , m evy Within Debt-Exclusion 1,570,000 , , 1,615,000 , , 1,665,000 , , 1,725,000 1,785,000 1,850,000 1,920,000 1,990,000 2,070,000 2,155,000 2,245,000 2,340,000 114 2,440,000 2,550,000 600 794 159 298 0 188 6 Interest 1,993,003 1,878,446 1,730,950 1,664,826 1,522,800 1,362,121 1,197,365 4 1,047,075 314 653 897,068 664 246 760,304 197 739 603,558 201 148 442, 98 470 , 71,620 , 46,976 , 6,188 Within Levy Limit . 764,812 699,668 8 608,820 131 122 1 605,128 698 059 1 532,040 761 990 459,998 902 123 387,69 809,673 , 732,423 . , 650,404 , 562,565 , 455,356 , 343,644 227,174 112,624 0 Debt Exclusion 1,228,191 1,178,77 , , , , , , . Total Within Le Limi[: 3,359,812 3,269,668 2,859,400 2,495,708 2,402,620 2,215,578 2,128,274 2,025,233 1 1,462,244 , 345 639 1 1;413,319 470 1 299 1,358,781 689 247 1 839,050 714 730 706,620 706,620 681,976 681,976 336,188 336,188 Issued 3,359,812 3,242,106 2,726,257 2,100,322 2,022,990 630 127 1,851,704 874 124 1,780,156 118 122 1,692,87 361 119 , , 605 116 , , 113,849 , , 111,093 , 108,336 0 0 0 Approved not issued 0: 27,563 133,143 130,386 ; , , : , , , 0 0 0 0 0 0 Not approved' 0 036 e) 462 re(Coolid MSBA h 0 036 462 0 462,036 265,000 462,036 252,000 462,036 239,000 462,036 226,000 462,036 213,000 462,036 0 462,036 462,036 . 462,036. 462,036 0 0 0 336 188 , g a s Net Included Debt 2,897,776 , 2,807,632 2,391,364 2,033,672 1,940,584 1,753,542 1,666,238 1,563,197 1,000,208 951,283 240 9 896,745 265 403 377,014 779) (102 . 706,620 508 346 681,976 620 333 , 0 School Buildings(net) 1,122,889 1,054,445 986,484 909,081 845,426 792,228 733,960 662,928 474,940 , 43 , 0 , 0 , 0 , 0 0 Town Buildings 440,000 988 4 420,000 013 494 0 893 592 265,000 583 436 252,000 980 573 239,000 564,105 226,000 553,393 213,000 539,749 . 0 525,268 0 512,043 493,480 479,793 . 360,113 348,356 336,188 73, Energy/Green Repair 70% , 457 968 1 , 579,376' 1 , 1,757,517 , 1,671,406 1,595,333 1,513,353 1,415,677 1,000,208 951,283 896,745 377,014 706,620 681,976 336,188 0 Recreation 184,369 , , 178,565 , 172,855 0 0 0' 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Equipment. 300,613 292,710 285,170 199,130 194,590 86,100. 83,660 81,220 0 0 0 0 0 0 0 Roads 84,419 81,900 79,463 77,025 74,588 72,109 69,225 66,300 0 0 0 0 0 0 Technology 291,500 . 286,000 280,500 0 0 0 0 0 0 0 0 0 0 0 0 0 .0 30% 839,175 , 817,988 276,155 269,178 158,209 152,885 147,520 404 0 7 565 711 2 356 700 2 644 683 2 174 667 2 2,662,624 0 Total. Debt Exclusion: 2,798,191 2,793,778 2,787,131 2,784,698 2,775,761 2,752,123 2,729,673 2,722,423 423 722 2 , 2, 2 404 2 720 , , 565 717 2 , ; 356 700 2 , , 683,644 2 , , 2,667,174_ 2,662,624 0 Issued 2,798,191 . 2,793,778 2,787,131 2,784,698 925 772 2,775,761 695 800 2,752,123 779 830 2,729,673 863 177 , , 575 895 , , 932,601 , , 971,942 , , 1,013,596 , 1,057,565 1,103,848 1,154,759 0 MSBA share est. 698,872 319 099 luded Debt 2 t Ex N 722,014 071,764 2 745,155 2,041,975 , 2,011,773 , 1,975,066 , 1,921,344 , 1,866,496 , 1,626,048 1,787,803 1,745,624 1,686,760 1,626,079 1,563,326 1,507,864 162 0 , , , e c SCHOOLSper$400kSFhome 219 216 212 206 200 196 192 187 181 104 174 104 168 LIBRARYper$400k SFhome Estimate for Library - localshare $7mil of$12mil 104 970,049 104 970,049 104 970,049 104 970,049 104 970,049 104 970,049 104 970,049 104 970,049 970,049 970,049 a Debt Service Schedule FY11-FY25 Town of Reading FY-21 Budget Requested Projected Projected Projected Projected Projected Projectea rrojectea rrojecreo rrujetreu r. uimmu r, viw.cu 2023 FY - 2024 FY - 2025 2 FY 11191111:42 PM FY-2011 FY-2012 FY-2013 FY-2014 FY-201 5 FY - 2016 FY-2017 FY-2018 FY-2019 FY-2020 FY - 2021 FY - 202 - $ $ Debt Service Schedule $ $ $ $ $ $ $ $ $ $ $ $ $ Overview Principal + Interest > ; - = 812 359 Le Land 3. tM W " 0611', 269 1 x2;859 ',4 ' :'402'620: 2'215 578. 2;128,274,";2;025;233: 00 .2;495,708 .2, , 319 1;358,781 : ' 839,050 =-'7061620 ; 661;976` 1;462;244 .4-3 ;336;188 ; , ; r n= 359 812 d 3 I , . , 106 242 3 257 726 2 322 2 100 2,022,990 1,851,704 1,780,155 1,692,871 1,345,639 1,299,470 1,247,689 730,714 706,620 681,976 336,188 ssue , , , , , , , , 61 605 116 849 113 093 111 336 108 0 0 0 Approved not issued 0 . 27,563 133,143 . 130,386. 127,630 124,874 122,118: 119,3 , , , , 0 0 Not approved 0 0-. 0 265,000 252,000 239,000 226,000 213,000 0 0 0 0 0 1 595 595 15 0 595 15 595 15 595 15 595 15 595 15 15,595 15,595 15,595 15,595 15,595 15,595 5, , remium RMHS 15,595 , , , , , 8 663 408 194 398 382 388 456 371 113 360 348,356 336,188 Improvements Energ 473,988 466,450 459;750 453,050 446,350 439,231 431,275 420,38 , , , , , 0 y Green Repair (1.05mi1) 0 27,563 133;143 130,386 127,630 124,874 122,118 119,361 4 116,605 37 200 113,849 000 36 111,093 800 34 108,336. 600 • 33 0 32 400 0 31;200 0 BarrowsNVd End $522k 47,025 45,900 44,775 43,650 42,525 41,400 39,900 00 .38, , 463 87 , 463 181 , 313 175 , 125 169 , 162 825 156,450 0 d 913 235 230 663 263 225 713 219 212,963 206,213 199,463 193,463 , 1 , , , , Wood En , , , , 219 151 219 146 094 938 140 688 135 375 130 0 B 134 202 584 197 904 192 094 183 177,469 171,844 . 166,219 161,219 156, , , , , , arrows , , , , 000 4 500 540 517 000 500 493 0 0 0 0 Coolidge 735,000 711,250, 687,500 663,750 640,000 616,250 587,500 56 , , 0 , 0 , 0 0 0 0 0 Parker@) 274,988 258,125 246,491 230,086 218,910 202,963 187,320 152,288 0 0 0 0 0 0 0 Joshua Eaton@ 53,203 41,830 25,839 15;229 U 0 0 0 0 0 0 0 0 0 Birch Meadow@ 21,068 15,534 10,153 0 0 0 0 0 0 0 0 0 0 0 0 0 Parker Turf $375k 82,125 79,219 76,406 0 0 0 0 0 0 0 0 0 0 0 0 Tennis Courts $485k 102,244 99,346 96,449 0 0 0 0 0 0 0 0 0 0 0 0 Downtown. lm r $650k 84,419 81,900 79,463 77,025 74,588 72,109 69,225 66,300 0 0 0 0 0 0 0 Police Station 440;000 420,000 0 0 0 0 0 0 0 0 0 0 0 0 0 Ladder truck $800k 98,300 95,860 7793,420 90,980 88,540 86,100 83,660 81,220 0 0 0 0 0 0 0 Pumper En #2 $410k 87,600 84,500 81,500 0 0 0 0 0 0 0 0 0 0 0 0 Financial S s $1.1mi1 291,500 286,000 280;500 0 0 0 0 0 0 0 0 0 0 0 0 0 Pumper En #1$525k 114,713 112,350 110,250 108,150 106,050 0 0 0 0 0 0 0 0 0 Cem Gara e $1m) 0 0 0 265,000 252,000 239, 000 226,000 213,000 2 404 7 0 565 717 2 356. ;2 700 683 644 2 l. 667;174, -2 ' -2;662,624. <r0 798;:191 =2 clusion Debt E = 7 . .2< _ 93;778 2,787,"131 2 ; 3 2; 2'-,784;698; 2;775,761 2752,123::.`2,729;673`> 2,722 4 , ; ; , , . , ; , 0 x : Barrows/Wd End $787k , 75,725 , . 68,850 . . 67,163 " 65,475 63,788 62,100 59,850 57,600 55,800 54,000 52,200 50,400 969 621 48,600 607 719 2 46,800 394 605 2 -0 RMHS 2,706,738 2,709,550 2,704,950 2,704,575 2,697,775 2,676,275 2,656,525 2,651,925 2,652,106 498 12 2,651,468 098 12 2,636.;469 11 688 , 2, 275 11 , , 10 855 , , 10,430 0 Wood End 15,728 15,378 15,018 14,648 14,198 13,748 13,298 . 12,898 , , , • , , m rn Debt Service Schedule FY11-FY25 Town of Reading FY - 21 Budget Requested Projected Projected Projected Projected Projected Projected Projected Projected Projected Projected 202 2 Y Projected 2023 FY Projected Projected FY - 2024 FY - 2025 11191111:42 PM FY - 2011 FY - 2012 FY - 2013 FY - 2014 FY - 2015 FY - 2016 FY-2017 FY-2018 FY-2019 FY-2020 FY-2021 F - $ - $ $ $ Debt Service Schedule $ $ $ $ $ $ $ $ $ $ $ Overview Principal ":Withrn:Le :Litntt ,2;595 000' 12,570,000?. 01:5'890580 :1870;580f 2;250,58 , . ; 1;755,580; 1;740,580,=1,710;580 -'1;215;580 1;215;580 , 1,210;580 :`7,40,580 000 35 . 635,OD0 .:635;000=' -330;000 000 000 330 000 635 635 Issued 2,595,000 2,570,000 2,145,000 1,585,000 1,565,000 1,450,000 1,435,000 1,405,000 1,110,000 1,110,000 580 105 1,105,000 580 105 , 6 580 105 , 0 , , 0 0 A roved not issued 0 105,580 105,580 105,580 * 105,580 105,580 105,580 105,580 , , , 0 0 0 0 Notapproved 0 0 0 100,000 200,000 200,000 200,000 200,000 0 0 0 105,580 105,580 105,580 105,580 105,580 125,000 125,000 125,000 1 Joshua Eaton@ 5U,000 4u,uuu ta,vuu ia,uw Birch Meadow@ 20,000 15,000 10,000 ker Turf $375k 75,000 75,000 75,000 Courts $485k 95,000 95,000 95,000 )wnmr :Police Station 400,000 400,000 ler truck $800k 80,000 80,000 80,000 80,000 80,000 80,000 80,000 80,000 ~r En #2 $410k 80,000 80,000 80,000 ciai S s $1.1mi1 275,000 275,000 275,000 _,-__IIAtl -IA enc nnn 4nr nnn ins nnn 105.000 105.000 Cem. 1 1 1 Debt Service Schedule Co FY11-FY25 Town of Reading FY - Budget ' Requested Projected Projected P rojected Projected Projected Projected Projected Projected Projected Projected Projected Projected Projected FY - 202 2022 FY - 2023 FY - 202 1 FY 1/19/111:42 PM FY - 201 FY - 2012 FY - 2013 FY - 2014 FY - 2015 FY-2016 FY-2017 FY-2018 FY - 2019 - FY - 2020 FY - 202 $ $ $ 5 $ Debt Service Schedule $ $ $ $ $ $ $ $ $ $ . Overview Interest ~Wittiih Le Limd 7:64,812 99;668:: 0$ 820 ..6 _ , . 605;128 `;532;040 459,998=, 694 . . 31.4,653'_' 296;669, .:.197;739 148201 i 689 142 9B;470 714 95 "71,620 _ 46,976 6,188:1 . 976 6,188 620 46 71 Issued 764,812 672,106 581,257 515,322 457,990 • 401,704 ' 345,156 16;538 281,871 781 13 235,639 025 11 189,470 269 8 , 5,513 , 2,756 , 0 , 0 0 A roved not issued 27,563 27,563 ` 24,806 22,050 19,294 , , , 0 0 0 0 0 0, Nota roved 0 0 0 65,000 52,000 39,000 26,000 13,000 0 595 15 595 15 595 15 595 15 15,595 15,595 95 1 595 15 595 15 595 15 15,595 15,595 15,595 15,595 , , , , 188 6 remium RMHS 5,5 , , , 388 663 73 194 63 388 52 456 41 30,113 , 18,356 rovements Im E 988 138 131,450 124,750 118,050 1111350 104,231 96,275 85, , , , , p nergy Green Repair 1,05mi1J : , - 27,563 27,563 24,806 22,050 19,294. 16,538 13,781 400 8 •11,025 200 7 8,269 000 6 5,513 4 800 2,756 600 3 2,400 1,200 BarrowsMd End $522k 17,025 15,900 14,775 263 5 13,650 713 69 12,525 963 62 11,400 213 56 9,900 49,463 , 43,463 , 37,463 , 31,463 , 25,313 , 19,125 12,825 6,450 Wood End 85,913 80,663 7 , , , , 31 219 219 26 094 21 938 15 10,688 5,375 B 134 72 584 67 904 62 58,094 52,469 46,844 41,219 36,219 , , , , arrows Coolidge , 260,000 , 236,250 , 212,500 188,750 165,000 141,250 117,500 94,000 70,500 47,000 23,500 Parker 44,988 38,125 31,491 25,086 18,910 12,963 7,320 2,288 Joshua Eaton@ `3,203 1,830 839 229 Birch.Meadow® 1,068 534 153 Parker Turf $375k 7,125 4,219 1,406 Tennis Courts $485k 7,244 4,346 1,449 0 Downtown Im r $650k 19,419 16,900 14,463 12,025 9,588 7,109 4,225 1,30 Police Station 40,000 20,000 Ladder truck $800k 18;300 15,860 13,420 10,980 8,540 6,100 $,660 1,220 Pumper En #2 $410k 7,600 4,500 1,500 Financials s $1.1mi1 16,500 11,000 5,500 Pumper En#1$525k 9,113 7,350 5,250 3,150 1,050 000 65 000 52- 000 39 26,000 13,000 Cem Gara e (Vm `DebtExcltls'ioh . ~ ` `1i228,181 . 178'7ZB 1, , . = , , 1122,131 1;Q5t) 698 .:990;761 , , "'902,123 ::;>809,673; r'. •732;423 =='650;404 . ;562;565 ''455,356. ` 200 7 c343,644; " 227;174 112;624 0° 800 600 1 400 3 5 Barrowswd End $787k 25,725 . 23,850 22,163 20,475 18,788 775 67 17,100 275 881 14,850 791525 12,600 925 716 10,800 637,106 , 9,000 - 551,468 , 446,469 , 336,969 , 222,719 , 110,394 RMHS 1,196,(38 1,149,550 1,094,950 1,034,575 , 9 , nna , 1) nou 9 daA 9 nAR 1.688 1,275 855 430 5,728 5,378 5,018 4,648 4,198 00 FY12 Capital Requests $ 948,000 available from 5% NI debt + capital $ 948,000 . Requested capital Dept. Request Estimate Reason Town Fac. Security system: DPW $ 85,000 Gate, card access, cameras Town Fac. Fire Alarm: Town Hall $ 40,000 Addressable Fire Alarm panel Town Fac. Windows & doors: Senior Ctr $ 25,000 exterior doors Town Fac. Carpettflooring: Town Hall $ 201000 Annex/Berger/Town Mgr Town Fac. HVAC/energy mgmt: Police' $ 20,000 5-ton dispatch' unit Town Fac. Other: Town Hall $ 12,000 Front steps/rebuild piers Town Fac. Windows & doors: West Side Fire $ 10,000 door replacements Town Fac. Windows & doors: DPW $ 10,000 2 overhead doors School Fac. Electrical: Birch Meadow $ 25,000 PA system School Fac. Electrical: Killarn $ 25,000 PA system School Fac. Other: RMHS $ 25,000 Add power to motorize bleachers School Fac. Windows & doors: Joshua Eaton $ . 24,000 replace 3 circle _top windows in cafeteria School Fac. Carpet/flooring: Coolidge $ 24,000 replace 2 rooms of the with moisture issues Fire.' Air Bottles $ 14,000 Safety DPW Roads (local share) $ 400,000 Previous over-ride/accelerated pace DPW Skim Coat/Crack Seal $ 50,000 Previous over-ride/accelerated pace DPW Playground $ 45,000 Annual Playground (Joshua Eaton) DPW Chevy pickup (1989) $ 37,000 Parks dept. DPW Survey#1 Ford Explorer(2000) $ 32,000 Engineers DPW Curb/sidewalk $ 25,000 Pedestrian safety FB 0 21 FY12 21 Town of Reading, _M A Schools - Equipment FY-2011 - FY-2012 - FY-2013 120,000 FY-2014 100,000 FY-2015 100,000 FY-2016 100,000 rY-ZUI I 100,000 r Y-a w 100,000 r r-cu j u 100,000 r r-cur-u 100,000 FY-20 100,000 Technology - Districtwide Infrastructure 000 100 100 000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 Technology- Instructional Equipment , , Vehicles s ota B ldi 020 000 2 123,000 20,000 117,000 139,000 471,000 568,000 288,000 39,000 1,519,000 710,000 26,000 ngs - coo ui ui ings - coos (Energy) , , 1,000,000 74,000 12,000 12,000 42,000 158,000 15,000 25,000 26,000 Buildings -Schools (non Energy 1,020,000 49,000 105,000 127,000 471,000 526,000 130,000 .39,000 1,504,000 685,000 Energy (Performance Contracting) various items financed by D EBT for 15yrs Electrical Systems Sch 50,000 000 12 000 12 22,000 158,000 15,000 25,000 26,000 HVACtEnergy Mgmt Systems Sch - , , Windows & Doors Sch 1,000,000 24,000 20,000 - Generators Sch Technology Infrastructure Sch Water Heater Sch - ADA Compliance Sch Ceilings Sch 14,000 Classroom Furniture Sch - Compressors Sch Fire Alarms Sch - Cafeteria Equip. & Furniture SO - 18,000 _ Plumbing Capet/Flooring Sch Sch 24,000 83,000 " 109,000 79,000 134,000 80,000 25,000 000 Roofing Sch 1,000,000 - 392,000 392,000 1,504,000 685, Security System Sch 20,000 - Fire Supression System Sch 000 50 Other Sch 25,000 22,000 000 10 , 25,000 - 10,000 TOTAL for School AB - - , Electrical Systems AB 000 10 10,000 HVAC/Energy Mgmt Systems AB , Windows & Doors AB Generators AB Technology Infrastructure AB Water Heater AB ADA Compliance AB Ceilings AB Classroom Furniture AS Compressors AS Fire Alarms. AB Cafeteria Equip. & Furniture AB Plumbing AB 25,000 Capet/Flooring AB 920,000 900,000 20,000 5,994,000 1,338,000 4,656,000 50,000 244,000 1,044,000 14,000 18,000 534,000 3,973,000 20,000 97,000 45,000 20,000 25,000 0 Town of Reading, MA FY 2011 ! FY 2012 FY 2013 FY 2014 FY 2015 FY-2016 FY-2017 FY-2018 FY-2019. FY-2020 FY-2021 FY12-21 Roofing AB Security System, AB Fire Supression System AB Other (sidewalks) TOTAL for School AB BM 500,000 25,000 34,000 20,000 16,000 819,000 - 1,414,000 25,000 Electrical Systems BM 25,000 16,000 16,000 HVACIEnergy Mgmt Systems BM 500,000 Windows & Doors BM 500,000 Generators BM Technology Infrastructure BM Water Heater' BM ADA Compliance BM Ceilings BM Classroom Furniture BM Compressors BM Fire Alarms BM Cafeteria Equip. & Furniture BM Plumbing BM 44,000 Capet/Flooring BM 24,000. 20,000 819,000 819,000 Roofing BM - Security System BM - Fire Supression System BM 10,000 Other BM JE 000 24 10,000 25,000 20,000 392,000 412,000 100,000 14,000 973,000 TOTAL for School , Electrical Systems JE 100,000 14,000 100,000 HVACIEnergy Mgmt Systems JE 000 20 44,000 Windows & Doors JE 24,000 , Generators JE Technology Infrastructure JE Water Heater JE ADA Compliance JE Ceilings JE Classroom Furniture JE - Compressors JE Fire Alarms JE - Cafeteria Equip. & Furniture JE - Plumbing JE 45,000 Capet/Flooring JE 25,000 20,000 000 392,000 392 784,000 Roofing JE , Security System JE Fire Supression System JE N Town of ,/Energy Mgmt Systems ows & Doors ;rators nology Infrastructure it Heater Compliance ngs sroorn Furniture ipressors Alarms deria Equip. & Furniture nity System Supression System iVAC/Energy Mgmt Systems Nindows & Doors 3enerators rechnology Infrastructure Nater Heater ADA Compliance Ceilings Classroom Furniture Compressors Fire Alarms Cafeteria Equip. & Furniture- Security System Fire Supression System Other MA FY-2011 FY-2012 FY 2013 FY 2014 FY 2015 " FY-2016 FY-2017 FY-2018 FY-2019 FY-2020 . FY-2021 FY72-27 JE K 1,500,000 25,000 24,000 24,000 24,000 36,000 12,000 1,645,000 25,000 K 25,000 12,000 12,000 24,000 K 500,000 K 500,000 K - K - K - K - K K K - K K K. K 24,000 24,000 24,000 24,000 96,000 1,000,000 K 1,000,000 K K K 30,000 30,000 - 12,000 60,000 WE - - WE 30,000 12,000 30,000 WE WE WE WE WE WE - WE WE - WE - WE WE WE 30,000 30,000 WE WE• WE WE WE 000 50 000 151000 184,000 15 Cool 24,000 10,000 10,000 20,000 40,000 , , N MA f Readin T FY-2011 FY-2012 FY-2013 FY-2014 FY-2015 9 FY-2016 FY-2017 FY-2018 FY-201 FY-2021 20 FY-20 FY12 0 000 g, own o 0 0 5 000 , 3 H VACIEnergy Mgmt Systems Cool _ Windows & Doors Cool Generators Cool _ Technology Infrastructure Cool Water Heater Cool ADA Compliance . Cool Ceilings Cool Classroom Furniture Cool Compressors Cool _ Fire Alarms Cool Cafeteria Equip. & Furniture Cool Plumbing Capet[Flooring cool cool 24,000 10,000 10,000 20,000 40,000 104,000 Roofing Cool Security System Cool Fire Supression System Cool l 50,000 50,000 Other (Phone System) h l S Coo 000 Park 20 - 24,000 65,000 35,000 - 14,000 685,000 685,000 1,528,000 oo c TOTAL for , Electrical Systems Park 24,000 HVACIEnergy Mgmt Systems Park 12,000 12,000 Windows & Doors, Park Generators Park Technology Infrastructure Pak Water Heater Park - ADA Compliance Park Ceilings pa* 14,000 14,000 Classroom Furniture Park Compressors Park Fire Alarms Park 18,000 Cafeteria Equip. & Furniture Park 18,000 Plumbing Park 000 35 35,000 70,000 CapetiFiooring Park , 685,000 685,000 1,370,000 Roofing Park 20,000 Security System Park . 20,000 _ Fire Supression System Park 12,000 Park 12,000 145 000 Other 000 000 80 40 , School TOTAL f MS - 25,00 0 , , - or Electrical Systems RMHS - HVAC/Energy Mgmt Systems RMHS Windows & Doors RIMS Generators RMHS C113 -p Town of Reading, 'MA FY-2011 Technology Infrastructure RMHS Water Heater RMHS ADA Compliance RMHS Ceilings RMHS Classroom Furniture RMHS Compressors RQ1S Fire Alarms RMHS Cafeteria Equip. & Furniture RMHS Security System Fire Supression System RMHS RMHS RMHS RMHS RMHS RMHS FY-2012 25,000 FY-2013 .FY-2014 FY-2015 FY-2016 FY-2017 FY-2018 FY-2019 FY-2020 FY-2021 120,000 25,000 .p Town of Reading, M FY-2011 FY-2012 FY-2013 FY-2014 FY-2015 FY-2016 000 347 FY-201.7 ODD 489 FY-2018 FY-2019 FY-2020 FY-202I 000 280,000 217 FY 22 51000 u> gs - u m cipa 222,000 180,000 11000,000 30,000 , 000 20 , 000 20 , 000- - 15 240,000 Buildings - Municipal nergy al (non Ene Munici ildi B 65,000 157,000 121[,000 - 70,000 1,000,000 30,000 , 327,000 , 469,000. , 202,000 280,000 2,535,000 p ngs - u E nergy (Performance Contracting) various items financed by D EBT for 15yrs - Electricai Systems Mun 000 20 000 - 35 20,000 20,000 15,0(10 - - 110,000 000 HVAC/Energy Mgmt Systems Mun , , 100, Windows & Doors Mun. 45,000 _55,000 30,000 Generator mull 30,000 Technology Infrastructure mull Water Heater Mun ADA Compliance Mun 10,000 Ceiling Mull - 10,000 Furniture Mun Compressor Mun 4Q000 Fire Alarm Mun 40,000 - Kitchen/Cafeteria Mun - Plumbing CapedFlooring Mun Mull 20,000 10,000 30,000 327,000 469,000 202,000 280,000 60,000 1,278,000 . Rooting Mun - - - 85,000 Security System Mun 85,000 - - Fire Supression System Mun - - 1,062,000 Mun 12,000 50,000 11000,000 Other 000 602 al Buildin i i M TH - 72,000 30,000 - 200,000 250,000 50,000 - , - g c p un TOTAL for Electrical Systems TH HVAC/EnergyMgmt Systems TH - 20,000 Windows & Doors TH 20,000 - _ Generator TH Technology Infrastructure TH Water Heater TH ADA Compliance TH 10,000 Ceiling TH .10,000 Furniture TH - Compressor TH 40,000 Fire Alarm TH 40,000 Kitchen/Cafeteria TH Plumbing TH 20,000 Ca et/Floorin p 9 TH 20,000 200,000 250,000 50,000 500,000 Roofing _ Security System TH - Fire Supression System TH ~fi Town of Reading, MA FY-2011 FY-2012 FY-2013 FY-2014 FY-2015 FY-2016 FY-2017 FY-2018 FY-2019 FY-2020 FY-2021 Other TH 12,000 TOTAL for Municipal Building Pot 20,000 20,000 30,000 Electrical Systems Pol HVAC/Energy Mgmt Systems Pot 20,000 Poi 10,000 Wmdows & Doors Generator POI - Technology Infrastructure Pot Water Heater Poi ADA Compliance Po/ Ceiling PO/ Furniture Pot Compressor PC/ Fire Alarm Po/ Kitchen/Cafeteria Po/ Plumbing Poi 000 10 Capet/Flooring POI , Roofing POI Security System Pot Fire Supression System POI Other POI TOTAL for Municipal. Building WSF 10,000 30,000 Electrical.Systems WSF HVAC/Energy Mgmt Systems WSF Windows & Doors WSF 10,000 30,000 I Generator WSF Technology Infrastructure WSF Water Heater WSF ADA Compliance WSF Ceiling WSF Furniture WSF Compressor WSF Fire Alarm WSF Kitchen/Cafeteria WSF Plumbing WSF Capet/Ficoring WSF Roofing WSF Security System WSF Fire Supression System WSF Other - bathroom WSF 50AOD TOTAL for Municipal Building Fire - 30,000 60,000 12,000 70,000 20,000 10,000 40,000 100,000 10,000 30,000 60,000 184,000 Town of Reading, MA FY-2011 FY-2012 FY-2013 FY-2014 FY-2015 FY-2016 FY-2017 FY-2018 FY-2019 FY-2020 FY-2021 FY12-21 .35,000 H VAC1Energy Mgmt Systems Fire 35,000 15,000 Windows & Doors Fire 15,000 Generator Fire _ Technology Infrastructure Fire Water Heater . Fire ADA Compliance Fire Ceiling Fire Furniture Fire _ Compressor Fire Fire Alarm Fire Kitchen/Cafeteria Fire Plumbing Fire _ CapetiFlooring_ Fire 000 67 67,000 134,000 Roofing Fire , Security System Fire Fire Supression System Fire Fire Other al Building TOTAL for Munici SrC 25,000 10,000. 401000 _ 20,000 '15,000 90,000 p Electrical Systems Sr CV 000 20 20,000 15,000 55,000 HVACIEnergy Mgmt Systems Sr Or , 35,000 Windows & Doors Sr CV 25,000 10,000 Generator Sr Ur Technology Infrastructure SrCtr Water Heater Sr CV ADA Compliance Sr Ur Ceiling Sr CV Furniture Sr Ur Compressor Sr CV _ Fire Alarm Sr Or _ Kitchen/Cafeteria Sr Ctr Plumbing Sr CV CapetlFlooring Sr Ur - Roofing Sr Qr Security System Sr Ur Fire Supression System Sr Ur - SrCtr Other ildi l B i Lib - ng u pa TOTAL for Munic Electrical Systems Lib - HVACIEnergy Mgmt Systems Lib - Windows & Doors Lib Generator Ub OD Town of Reading, MA FY 2011 FY 2012 FY 2013 FY 2014 FY-2015 FY-2016 FY-2017 FY-2018 FY-2019 FY-2020 FY-2021 FY12-21 Technology Infrastructure Lib Water Heater Lib ADA Compliance Lib Ceiling Lib - Furniture Ub Compressor Lib - Fire Alarm Lib - Kitchen/Cafeteria Lib Plumbing Lib Capet/Flooring Lib ' Roofing Lib Security System Lib Fire Supression System Lib 00 Other(Elevator Ctrlr) Lib DPW al Buildin i i M TAL f 95,000 152,000 152,000 280,000 1,729,0 50,000 1,000,000 g c p un or TO Electrical Systems DPW HVAClEnergy Mgmt Systems DPW 10,000 Windows & Doors DPW 10,000 Generator DPW Technology Infrastructure DPW Water Heater DPW ADA Compliance DPW Ceiling DPW Furniture DPW Compressor DPW Fire Alarm DPW Kitchen/Cafeteria DPW Plumbing DPW CapetlFlooring DPW . 584,000 152,000 152,000 280,000 Roofing DPW 85,000 Security System DPW 85,000 Fire Supression System DPW 1,050,000 ild DPW n & b i 50,000 1,000,000 u g Other-garage des Finance Technology - GIS Flyover Project - Technology - Geographic Information System layers - Elections - update voting machines Technology - Equip (Twn Hall) - moved Moved to Oper.- Technology - Equip (Twn Hall) - moved Moved to Oper. Technology $6500 FY07 in FY08 Tech I Moved to Oper. J 00 MA FY-2011 Town of Reading FY-2012 FY-2013 FY-2014 FY-2015 FY-2016 FY-2017 FY-2018 FY-2019 FY-2020 FY-2021 FY12-21ooo 160, , . 120,000 20,000 20,000 000 60 Library 000 20 000 20 , Furnishings & Shelving 20,000 , , Technology - Roving Reference 100,000 Circulation System 100,000 Debt Debt Debt Debt Debt Debt Debt Debt Debt Renovation 0 000 69 000 654 316,500 90,600 150,000 849,000 339,000 2,589,100 000 255 000 14 36,000 155,00 , , Public Safety - ire , , Pumper Eng #1(2010-$525k;next FY30j Debt Debt Debt Debt Debt Pumper Eng #2(2007-$410k; next FY25) Debt Debt Debt 630,000 630,000 Pumper Eng #3(1995: est $630k FY16) 804,000 804,000 Pumper Eng #4(2001: est $804k FY20) bt D Debt Debt Debt Debt Debt Debt - Ladder Trk #1.(2008: $800k, next FY27) Debt e 294,000 230,000 Ambulance #1 (2000-10 yrs) 230,000 275,000 275,000 Ambulance #2 (2006 -10yrs) 25,000 Patient Care Reporting System 25,000 41,500 41,500' Passenger. Gar#1(2005 -10yrs) 45,000 - Passenger Car#2 (1997 -1 Dyrs) 45,600 00 45 , 66 Pickup Truck #3 (2006-12yrs) 00 36 , Pickup Truck #4 (1996 -12yrs) 36,000 000 69 69,000 Alarm Truck (1994 -16yrs) , 24,000 24,000 ALS Defibrillator (2006 - 5yrs) BLS-AED (2004 - 8yrs) - 45,000 45,000 Rescue Tooi(2006 -12yrs) 14,000 Breathing Air Bottles 14,000 45,000 45,000 Thermal Imaging (2010 -10yrs) 25,000 Fire Hose 25,000 130,000 150,000 280,000 000 291 Turnout Gear (2008 - 5yrs) 000 5 000 211 10 000 35,000 , Public a ety - o tee ispatc - 3 , , , 000 1D 10,000 Handguns & Associated Leakhat (Police) , Technology - Equip (Police) - moved to TECH. - DVR video technology (Dispatch) 000 16 16,000 Digital Fingerprint Scanner 35,000 , 35,000 70,000 Vehicle Video Integration Radios (Police & Fire 1997 -10yrs) 000 20 20,000 AEDs , 175,000 175,000 Public Safety software ($175k) N O Town of Reading, MA FY-2011 FY-2012 FY-2013 FY-2014 FY-2015 FY-2016 100 275 FY-2017 900 653 FY-2018 400 763 FY-2019 604,800 FY-2020 FY-2021 914,700 FY12-21 4,163,100 u is or - quipment 115,000 69,000 224,300 249,800 293,100 000 115 , 000 64 , 260 000 , 198,000 72,000 276,000 1,180,000 Large Trucks Life 115,000 60,000 . , , , 123,000 123,000 Truck #4 - Sander (2001) 15 220,000 000 22020,, Truck #8 -10 wheeler (2000) 15 136,400 000 Truck #9 -Sander (2004) 15 115,000 Truck #16 - Sander (1990) 15 115,000 Truck #18 - Sander (2006) 15 140,000 140,000 Truck #19 - Sander (1987) 15 Truck #3 - Sander (1995) 15 Truck # 11 (2008) 15 Truck #5 (2008) 15 000 60 75,000 135,000 Dump Truck C2 (1996) 10 , 60,000 60,000 Dump Truck C3 (1999) 10 000 115 115,000 Truck #10 (1996) 15 , 64,000 64,000 Dump truck #12 Parks (1997) 15 72,000 72,000 Dump truck #24 Parks (2000) 15 000 81 700 113 39;500 48,700 130,000 185,009 701,900 69,000 35,000 , . 000 80 Pick-ups/Cars/Vans 000 35 , Pickup Ford UBlity #11 (1969) 10 , 45,000 82,000 Pickup Chevy #9 Parks (1986) 10 37,000 46,000 Pickup Ford Utility #C1 (1997) 10 46,000 46,000 46,000 Pickup Ford #2 Parks (1997) 10 85,000 85,000 Pickup Chevy Utility #1(2008) 10 50,000 50,000 Pickup Ford Utility #4 (1997) 10 000 35 35,000 Pickup Ford Utility #7 (1997) 10 , 36,500 36,500 HV3 Ford Van (1995) . 10 39,500 39,500 HV4 Ford Van (1995) 10 48,700 48,700 HV5 Ford Van GOA (2003) 10 32,000 Survey #1,FordExplorer (2000) 10 32,000 45,000 45,000 Car#2 Ford Sedan (2007) 10 45,000 45,000 Car#3 Ford Escape HYBRID (2008) 10 31,200 31,200 Cem. #4 Ford Sedan (1993) 10 00 400 32 200,000 96,000 180,000 613,400 Backhoes/Loaders/Heavy Equipment - 105,0 , 96,000 96,000 Backhoe Loader (Cem,)(2008) 10 200,000 200,000 Loader JD #624G (2007) 10 180,000 180,000 Loader Cat #928F (1994) .10 Backhoe DYN #490 (2008) 10 32,400 32,400 Bobcat Loader 743 (1987) 10 _ _ _ .105,000 CAT Bulldozer 951 (1971) N O MA wn of Reading T FY-2011 FY-2012 00 FY 351000 FY 20?t oD FY-2021 FY1 S817Do FY-2013 FY-2014 FY-2015 FY-2016 FY- 501 FY , o D t - - 168,700 000 217,0 _ S y u Heavy pecialty Equipment R ack Spray Truck #23 (2008) 15 48,700 T ractor Ford 445 (Parks) 15 48,700 B ucket Truck (2009) 15 82,000 82,000 R oller - Ferguson 46A (1988) 15 135,000 135,000 S creener (1994) 15 130,000 130,000 Pavement Leeboy Sprd (1998) 10 111,000 111,000 Sidewalk Snow Plow #3'(2008) 10 120,000 Snow -Holder #1 C6000 (1995) 10 120,000 135,000 135,000 Snow - Holder #2 C9700 (1997) 10 125,000 125,000 Snow - Bombardier #1 (1993) 10 00 000 43 500 81 89,600 66,500 395,200 - 000 20 37,800 26,800 30,0 , , 26 800 Specialty Equipment - Light Duty , 800 26 HW Comp2 INT Compr (1996) 10 , 21,000 21,000 3001-Lebot (Roller) (1998) 10 37,800 Eager Beaver Trailer (1985) 15 37,800 66,500 66,500 1CH Woodsman. Chipper (2004) 10 39,500 39,500 1GV Leaf Vac (1999) 10 46,000 46,000 2CH Mobark (1989) 10 600 43, 43,600 6 2GV Leaf Vac (2000) 10 42,000 00 42, SmithCo 60 Leaf Vac (1999) 10 20,000 Toro 48" LeafVac (1993) 10 20,000 000 30 30,000 FMC Truck Mount Sprayer 500ga1 , 22,000 22,000 22,000 SmithCo 13-550 Infield (1994) 7 John Deere Farm Tractor 10 - - 15,600 - 70,300 35,000 36,400 18,200 82,200 96,200 353,900 500 17 Lawnmowers 500 17 , 1998 72" 4 , 18,200 ) ( Mower (Cem.) SKAG 18,200 - Mower (Gem.) SKAG 61" (1999) 4 300 70 96,200 166,500 5 Mower (Parks) TORO Gang (1996) 8 , 18,200 00 33, Mower (Cem.) SKAG 52" (1995) 4 15,600 500 17 17,500 Mower (Parks) SKAG 52" (1998) 4 , 82,200 82,200 Mower - TORO Gang (2008) 6 18,200 18,200. 912F#2 John Deere Mower (1989) 7 - 32,000 - 20,000 12,000 32,000 eering Equipmentlservices 000 y Equipment(P lan Plotter' ue 0 20,000 000 75 12, 000 778 295,000 0,600 545,000 730,600 1,450,800 767,000 4,932,000 o is or emett 45,000 45,00 , , is or - emetery n - Maintenance Building $60k Construction Maintenance Building $1mill5yrs Debt Debt Debt - Debt 000 Debt 000 20 000 50 20,000 50,000 20,000 290,000 Public or - roun s 30,000 50,000 20,000 50, , 000 20 , 20,000 20,000 90,000 000 30 20,000 , 000 200 Fence Replacement , 50,000 50,000 50,000 50,000 , Parking Lot Pavement _ 2 MA Town of Reading FY-2011 FY-2012 FY-2013 FY-2014 FY-2015 FY-2016 FY-2017 FY-2018 FY-2019 FY-2020- FY-2021 000 000 25 717 FY12-21 000 642 4 , U is or {s - Par 45,000 45.000 45,000 728,000 275,000 150,600 525,000 680,600 1,430,800 , , , , T ennis Courts - Bancroft Ave. $485k Debt Debt Debt 150,000 150,000 A rtificial Turf@Parker MS $736k Debt Debt Debt 250,000 250,000 Coolidge MS field upgrade (grass) 45 000 ' 000 25 000 25 000 25 25,000 25,000 25,000 335,000 ram unds Pro ct Pl t 000 30 45,000 45,000 45,000 , , , , g aygro ru Recons , Killam Josh Eaton Sturges Wood End up Hunt Pk BM Tot lot Wood End do Mom Park B Meadow Barrows 15,000 round safety surface Pla 15,000 yg Memorial Park $650k grant in FY10 000 233,000 100,000 462,000 Washington Park $625k 129, tennis ct backstop paths (also playground in FY10) 124,000 & shift field 124,000 basketball ct 000 230 110 000 150,000 1,100,000 39,000 1,629,000 Birch Meadow Complex = $2.116 mil , BB courts , Mrtn bkstop softball light fields & paths st. backstop (also playgrounds in FY16&FY19) Multi-Purp cis dugouts 20,000 39,000 59,000 ination Station) d $430k (Ima 430,000 bleachers batting cage lot backstop 430,000 500 219 g Playgroun 000 95 124,500 , Barrows $298k , backstop tennis ct (also playground in FY09) & infield 78,100 78,100 basketball ct 600 30 60D 30 , Killam $30.6k , backstop - (also playground in FYI 1) 140 000 39,000 179,000 Joshua Eaton $179k , backstop backstop - & infield 000 50 (also playground in FY12) 50,000 , Symonds Way $50k backstop - • 125,000 - 125,000 Hunt Park $125k backstop backstop (also playground in FY15) 63,800 63,800 Sturges Park $178.7k tennis ct (also playground in FY13) 80,000 80,000 basketball ct _ 37,000 37,000 backstop _ 325,000 325,000 Wood End $325k field - Na N N N 1 Town of Reading, MA FY-2011 FY-2012 FY-2013 FY-2014 FY-2015 FY-2016 FY-2017 1-Y-ZU18 hY-LUIU rY-cUZU rY-2021 Over-ride local share (previous schedule) 355,952 364,851 373,972 383,321 392,904 402,727 412,795 423,115 433,693 444,535 +50klyr Over-ride local share (new schedule) 425,000 450,000 500,000 550,000 600,000 650,000 700,000 750,000 800,000 850,000 900,000 Public orks - Roads 558,000 475,000 525,000 575,000 625,000 675,000 750,000 800,000 850,000 900,000 950,OOD ' Sidewalk/Curb/Ped. SA 40,000 25,000 25;000 25,000 25,000 25,000 50,000 50,000 50,000 50,000 50,000 Street Signs Downtown improve ($650k 10yr bond) 10,000 Debt Debt Debt Debt Debt Debt Debt Debt Reconstruction: West Street Skim Coagng & Crack Seat Patch 50,000 7,500,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000 000 850 Various Streets/local fund 375,000 245,000 210,000 260,000 550,000 600,000 650,000 700,000 750,000 800,000 , Repair Kilian parking lot 83,000 West.Street design ($155k) 155,000 West Street - Local share ($480k) 240,000 240;000 0 450 000 90 fund or grants Various Streets/Ch 450,000 450,000 450,000 450,000 450,000 450,000 450,000 450,000 450,000 450, 00 , . Total Cost 1,008,000 8,425,000 975,000 1,025,000 1,075,000 1,125,000 1,200,000 1,250,000 1,300,000 1,350,000 1,400,OD0 Chapter 90 or Grants 450,000 7,950,000 450,000 450,000 450,000. 450,000 450,000. 450,000 450,000 450,000 450,000 General Fund Cost 558,000 475,000 525,000 575,000 625,000 675,000 750,000 800,000 850,000 900,000 950,000 FY12-2 3,987,863 6,275,000 6,733,000 365,000 10,000 7,500,000 500,000 5,140,000 83,000 155,000 480,000 4,500,000 18,733,000 12,000,000 6,733,000 OFl~ 2 4 24 Finance Committee Meeting a December 8, 2010 '639: Conference Room., Reading Town Hall lNCORQ~¢ " The meeting convened at 7:30 PM in the Conference Room at Town Hall. FMCOM Members Present: Chair Marsie West, Vice Chair David Greenfield, Mark Dockser, Bryan Walsh, Barry Berman, Kevin Leyne, Francis Fardy and Paula Perry. Members Absent: Hal Torman Also Present: Assistant Town Manager/Finance Director Bob LeLachuer, and recording secretary Abby McCabe. Town Manager Peter Heckenbleikner joined the meeting at 8:45'PM. There being a quorum the FINCOM Chair called the meeting to order at 7:35 pm. Budget Process: The Committee discussed ideas on how to present the budget to Town Meeting members and the community. It was recommended that a summary of the budget and a simplistic approach would be most valuable. It was also suggested to look at more than 'a position's funding source when reviewing cuts such as the function of the position and its importance to the Town Mr.. LeLacheur pointed out that all positions funded by the general fund are listed at the back of the''annual town warrant. The Board of Selectmen will be having at least two meetings,to discuss the budget in early January. Mr. Greenfield asked if there were any updates from the state. Mr. LeLacheur responded that the state appears to have less of a deficit than what was originally projected but there is still a significant shortfall. There will likely be a reduction in state aid but the amount is unknown until the Governor's budget is announced in early January. The health insurance costs'are another major variable that will not be known. until February. The Town in expecting to have 1.75% change in the, operating budget and assuming a 10% change in state aid. The Town Manager provides his recommended budget to FINCOM in mid February after the health insurance rates and the Governor's budge, ,.We been confirmed. One member suggested collecting an email list of all: Town Meeting members to distribute information before Annual Town Meeting. It was,also suggested to include the meeting topics on the budget meeting calendar in advance. Mr. Le' Lacheur explained that department heads and boards give their recommendations for the budget but it is ultimately 'the Town Manager's recommended budget that will be before FINCOM and Town Meeting. Review of the Expenses Financial Forum: A chart has been created. listing all of the suggestions brought up at the financial forum in October that focused on expenses and costs'savings. Page 3 through 5 of the meeting handout shows the number of votes each suggestion received during the forum. A FINCOM member asked how likely it is that regionalization of certain positions and departments is possible. Mr. LeLacheur explained that many regionalization options are currently being discussed and considered but it is not.likely that they'll be implemented at this point. Regionalization works best when there is a weakness in a service or particular area so that can be shared with another community. A recent dispatch study with surrounding towns found that there would be no cost savings for Reading. The veteran's services department is currently shared with Wilmington. 25 Review updated version of the Revenue info with Town Departments: The Committee reviewed a few examples for following up on the revenue financial forum suggestions to expand cell tower leases, the sale of surplus town own land, and billing for at fault accidents. FINCOM discussed ways to follow-up from the financial forum by adding information to the website that includes research for each suggested revenue source, an explanation for why or why it is not being considered and the next steps to be taken. Mr. LeLacheur will be in contact with the appropriate departments needed to look into the revenue and cost savings recommendations. FINCOM recommended that the next step, the responsible party and the final recommendation be clearly stated. Discussion continued on the format, of how the information should be displayed on the website. Any further comments should be directed to Mr. LeLacheur. FINCOM discussed including the suggestions and the updates as an.item to be reviewed regularly at the Committee meetings. . Ratings Agency view of cash position: In response to a recent Boston Globe article about the accuracy of the figures in a ,study by Moody's Investors Service, Mr. LeLacheur contacted Moody's for clarification on the figures. Moody's responded that they did not know where the Globe got the data and provided further information on how Moody's determines the ratings. Dept Issue: A chart detailing debt levels was also recently published based on 2008 data from the Department of Revenue. The chart shows Reading with a very high debt level. when,compared to surrounding communities. However, comparing communitiesover a year or a-short period of time is not reliable because it can be misleading by including one time 'payments. For Reading, there was a one time payoff to the MSBA in 2008 which altered the results seen in this' chart. Licenses & Permit Assessment: Mr. LeLacheur summarized the findings of the consultant hired to perform an inventory and needs assessment for Reading's permitting and licensing. The. consultant was responsible for performing the inventory while the Town will make a recommendation for.the permitting software that to be selected. The permitting software vendor has not.yet been determined. The new software would also need to be implemented over, time and most likely phased throughout different departments. January Financial Forum Plannim FINCOM.would like to have the Capital Phan on.the agenda at the financial forum in January. The Committee will also provide and update and follow up to the last two financial forums with the updated summary spreadsheets for the potential revenue and expense ideas will be on the website. The next regularly scheduled FINCOM meeting is set tentatively for January 12th but will be cancelled if the meeting is not needed. The next financial forum is schedule for January 26th. Approval of Minutes: On a motion by Mr. Greenfield seconded by Mr. BBerman, FINCOM voted 7-0-1 (Ms Perry abstaining) to approve the minutes for October 27 2010 as written. Mr. Fardy summarized the liaison meeting he recently attended with the Board of Library Trustees about the new library building project. The next library meeting will be on January 4th. On a motion by Mr. Walsh seconded by Mr. Dockser FINCOM voted 8-0-0 to adjourn at 9:20 PM. Respectfully submitted, Recording Secretary 2