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Home My WebLink About2015-10-20 Board of Selectmen PacketTown of Reading Fund Balance Policy Revised for GASB 54 Purpose The purpose of this policy is to establish a key element of the financial stability of the Town by setting guidelines for fund balance. Unassigned fund balance is an important measure of economic stability. It is essential that the Town maintain adequate levels of unassigned fund balance to mitigate financial risk that can occur from unforeseen revenue fluctuations, unanticipated expenditures, and similar circumstances. The fund balance also provides cash flow liquidity for the Town's general operations. Definirlons Fund Equity — A fund's equity is generally the difference between its assets and its liabilities. Fund Balance — An accounting distinction is made between the portions of fund equity that is spendable and non - spendable. These are broken up into five categories: 1) Nonspendable fund balance — includes amounts that are not in a spendable form or are required to be maintained intact. Examples are inventory or permanent funds. 2) Restricted fund balance — includes amounts that can be spent only for the specific purposes stipulated by external resource providers either constitutionally or through enabling legislation. Examples include funds which have a restriction through debt covenants, grantors, contributors, or laws or regulation from other governments. The grant from the Massachusetts school Building Authority (MSBA) to mitigate the cost of the construction of new schools is placed in this category. 3) Committed fund balance — includes amounts that can be used only for the specific purposes determined by a formal action of the government's highest level of decision- making authority, the Reading Town Meeting. Commitments may be changed or lifted only by the government taking the same formal action that imposed the constraint originally. 4) Assigned fund balance — comprises amounts intended to be used by the government for specific purposes. Intent can be expressed by the governing body, the Reading Town Meeting, or by an official or body to which the governing body delegates the authority. In governmental funds other than the general fund, assigned fund balance represents the amount that is not restricted or committed. This indicates that resources in other governmental funds are, at a minimum, intended to be used for the purpose of that fund. 5) Unassigned fund balance — is the residual classification of the general fund and includes all amounts not contained in other classifications. Unassigned amounts are technically available for any purpose. 50.I Policy Committed Fund Bahrnce The Reading Town Meeting is the Town's highest level of decision- making authority and the formal action that is required to be taken to establish, modify, or rescind a fund balance commitment is a article approved by Town Meeting. The article must either be approved or rescinded, as applicable, prior to the last day of the fiscal year for which the commitment is made. The amount subject to the constraint may be determined in the subsequent period. Assigned Fund Balance The Reading Town Manager (or his/her designee) as the official who is empowered to authorize all purchases and/or encumbrances, as applicable, and thus assign fund balance to a specific purpose as approved by this fund balance policy. Certified Free Cash The Commonwealth of Massachusetts certifies the amount of available reserves that the Town has at the end of each fiscal year. The Free Cash amount is usually slightly less than the Unassigned Fund Balance in the Financial Statements due to the inclusion of various adjusting items. Certlfred Free Cash and Stabilization Level It is the goal of the Town to achieve and maintain Certified Free Cash plus General Stabilization Funds in the general fund equal to 7% of the next year's total General Fund Budget The Town considers a balance of less than 5% to be cause for concern, baring unusual or deliberate circumstances. If the Certified Free Cash plus the General Stabilization balance falls below the goal or has a deficiency, the Town Manager will direct Town Departments to delay or eliminate certain discretionary expenditures in order to replenish the Certified Free Cash Level. Order of Expenditure of Funds When multiple categories of fund balance are available for expenditure (for example, a construction project is being funded partly by a grant, funds set aside by Town Meeting, and unassigned fund balance), the Town will start with the most restricted category and spend those funds first before moving down to the next category with available fonds. 5Ga LEGAL NOTICE o FRfq�i � C I I S�e'IMCORPOp' TOWN OF READING To the Inhabitants of the Town of Reading: Please take notice that the Board of Selectmen of the Town of Reading will hold a public hearing on October 20, 2015 at 8:00 p.m. in the Selectmen's Meeting Room, 16 Lowell Street, Reading, Massachusetts on: Request .for early opening at 5:00 a.m. for Tread LLC, 6 Linden Street A copy of the proposed document regarding this topic is available in the Town Manager's office, 16 Lowell Street, Reading, MA, M -W- Thurs from 7:30 a.m. - 5:30 . p.m., Tdes from 7:30 a.m. - 7:00 p.m. and is attached to the hearing notice on the website at wmcreadinama.cov All interested parties are - invited to attend the hearing, or may submit their com- ments in writing or by email prior to 6:00 p.m. on October 20, 2015 to W9 By order of Robert W. LeLadieur Town Manager. , 5 bl Board of Selectmen Minutes - September 15. 2015 - page 3 motion by Sexton seconded by Berman to move the Local Election to March 1 2016 to combine it with the Federal Presidential Primary was approved on a roll call vote with all five members voting in the affirmative. Hearina - Early Ooenina Reauest for Tread LLC. 6 Linden Street to Ooen at 5:00 a.m. - The Secretary read the hearing notice. Owners Lori Haverty and Tiffany Feitas were present Ms. Feitas noted that they opened six weeks ago. They have a diverse demographic. They received over 100 requests to offer earlier classes. She noted that all of the other fitness clubs open at 5:00 a.m. She spoke with the neighbors and has been working closely with the abutting neighbor. She has spent $20,000 on soundproofing. They have a powerful subwoofer and she brought in a specialist who turned down the subwoofer as low as possible. Ms. Haverty noted that the pounding of the bass is what they heard. Daniel Ensminger noted that the Board received a letter and an email dated today that the problem still exists. Ms. Feitas noted that is sounds like a bass and microphone issue. Karen German, 12 and 14 Linden Street, noted that her and her neighbors thought a nightclub move Into the neighborhood. She doesn't hear music anymore, but she hears the pounding and it is worse on the weekends. She hears it in her pillow and her husband and daughter get woken up too. She noted that there is an empty patio in front of 10 Linden Street so it could be an echo. Ms. Feitas noted that she fixed the problem for one neighbor and it would be helpful for her sound engineer to could go out and see what the problem is. She also noted that 5:00 a.m. is the biggest time slot because people want to work out before they go to work. The booming of the bass is new for them so they will try a mixer. John Arena asked how many people are in the classes and if they tried headphones. It was noted there are 15 in a class and there is too much movement for headphones. Lori Haverty noted that she tried to teach without a microphone and she is losing her voice. Adele Blunt, 22 Linden Street, noted that she was outside in her car and could her beep, beep and the young lady yelling out Instructions. She cannot hear it from her house but can hear it from outside. Karen German noted that the early hours are the hardest to deal with. Daniel Ensminger suggested keeping the hearing open until there is a solution. He wants to do a site visit. Ms. Feitas noted this will severely hurt their business. John Arena noted that the Board has never received any complaints for early opening for any of the athletic clubs. Karen German asked why they need such loud music in such a small building. It was suggested that the louder class be scheduled for later. Ms. Feitas noted that the loud music goes with spinning and spinning is #1 in the Industry. Barry Berman noted that he visited the studio during the Fall Street Faire and was impressed. He Is Inclined to allow them to open early like other athletic clubs but they still need to work on mitigation. Daniel Ensminger noted that people should not be woken up at 5:00 a.m Page 1 3 5ba Board of Selectmen Minutes - September 15 2015 - page Kevin Sexton noted that those homes are business zoned not residential zone. Karen German agreed . but noted that those homes have been residential for 100 years. Resident Bill Andrews from Roma Lane suggested putting a contingency that they work with the abutters. If they don't fix then they lose the license in five weeks. Lori Haverty noted that she can offer lower Intensity classes at 5:00 a.m. This is huge to their business. John Arena noted that allowing them to open at 5:00 a.m. until October 20'° gives the appearance for the Selectmen to be the bad guys if It doesn't work out. John Halsey felt it was a good idea for the parties to work together. He feels the owners will work hard to work with the neighbors and we should give them the opportunity to work it out. In granting this license the Board finds that in accordance with Section 5 10 4 of operation: and There is no detrimental effect of such operation on the Town or the immediately abutting neighbors The motion was approved on a roll call vote with all five members voting in the affirmative. Daniel Ensminger instructed the Town Manager to re- advertise the hearing for October 20 at 8:00 P.M. John Halsey reminded the neighbors that they can come back before October 20 if need be. Hearing - Private Road Acceptances - Causeway Road Cory Lane Dividence Road Pond View. Roma Lane and Sailor Tom's Way - The Secretary read the hearing notice. Town Engineer George Zambouras was present. The Town Manager noted the streets fall into two categories. Causeway Road and Dividence Road are not subdivisions but the others are. He noted that CPDC voted three roads three weeks ago and approved the remainder last night. rr-� 1y� Page 14 J t Schena, Paula From: LeLacheur, Bob Sent: Sunday, October 11, 2015 8:36 AM To: Schena, Paula Subject: FW: Gas Leak Repairs for BOS packet From: Carolyn Whiting [ ' Sent: Saturday, October 10, 2015 11:1:3 MM To: Reading - Selectmen Subject: Gas Leak Repairs Dear Board of Selectmen: In case it isn't too late, I am writing to ask you to pass a resolution encouraging our State House delegation to pass bill H.2870 and H.2871 to crack down on gas leaks and to protect ratepayers from having to pay for the cost of lost and unaccounted for gas. We need to reduce the release of methane into the atmosphere, and we need to give the utilities incentives to repair the leaks. Thank you for your consideration. Sincerely, Carolyn R. Whiting 17 Chestnut Road Reading MA 01867 �� I s orxeao ^c - - Office of the Town Manager e 16 Lowell Street Reading, MA 01867 To: Finance Committee From: Robert W. LeLacheur, Jr. CFA Date: October 20, 2015 RE: October 29" Financial Forum 781- 942 -9043 townma naser @ci.readina.ma. u s www.readingma.gov/town-manager A reminder that we are meeting at 7:30pm at the Pleasant Street Center on October 28`" for our second Financial Forum. This will be the first public discusssion about FY17 budgets. Enclosed is a preview of some information that will be discussed: Free Cash is not yet certified but expected to rise slightly from the prior year. The first page called "Statement of Revenues and Expenditures — Budgetary Basis" shows that in FY35 we enjoyed $1.6 million more in revenues than we had budgeted, and we also spent about $1.6 million less than was budgeted (for a total of +$3.2 million). We used free cash during the year, plus other technical accounting adjustments, so the net change in Free Cash will be small. Recall that we changed a $1.2 million use of Free Cash to debt for the modular classrooms which allowed this level to be maintained. Some quick highlights from the Town Accountant's presentation to FINCOM on 10/14: Revenues: over $400k was from property taxes, a combination of prior delinquent bills being paid plus less abatments; over $200k from excise taxes; over $200k from local charges, mostly building permits, a one -time $150k Smart Growth payment; $100k in interest earnings and a variety of other smaller factors. In some cases we have adjusted upward revenue forecasts for FY17 based on this actual data. Expenses: FINCOM returned $100k; unspent capital was over $300k; snow, energy and other so- called accomodated returned almost $400k; and open positions were about $450k. This latter item is of concern for a few reasons (budgeted staffing is thin already, a competitive job market and a small HR division). A second handout shows the proposed November FY16 budget transfers. We are requesting a total of just over $1 million in expenses as has been described previously. Over $600k is one- time costs (capital and FINCOM reserves), while the remainder is ongoing operating costs— and of that amount $100k is supported by revenues from school revolving funds. Revenues to support these additional expenses are generally matched as Free Cash paying for one -time costs and sustainable revenues paying for operating costs, as is our practice. New growth is conservatively estimated to increase by $200k and that will be finalized on the floor of Town Meeting, so less Free Cash may be needed comapred to the $700k voted by FINCOM last night. The remaining four pages are a preview of FY17, using some assumptions that will be refined for the Financiail Forum. For example we estimated energy costs and out of district SPED at 4% but those may be higher. Right now a $2 million use of free cash nets to a +3% operating budget for FY17. 5e1 Town of Reading, Massachusetts Statement of Revenues and Expenditures - Budgetary Basis General Fund Year Ended June 30, 2015 Variance - Actual and Favorable Budeet Encumbrances (Unfavorable) Revenues Property taxes: $ 681,625 $ 545,574 $ (136,051) Current 57,455,318 57,835,058 379,740 Delinquent - 200,520 200,520 Excise taxes 3,143,083 3,378,535 235,452 Meals tax 350,000 355,968 5,968 Penalties and interest on taxes 180,000 294,751 114,751 Payments in lieu of taxes 330,000 334,458 4,458 Charges for services 1,666,750 1,880,385 213,635 Licenses and permits 145,000 171,605 26,605 Intergovernmental 13,382,318 13,612,031 229,713 Special assessments - 17,292 17,292 Fines 100,000 109,958 9,958 Investment income (including Stabilization Interest) 100,000 198,273 98,273 Other 248,011 248,011 Total revenues 77,534,094 79,182,419 1,648,325 - (1,648,325) Expenditures Current Year Only: General govemment 5,075,795 4,712,751 363,044 Public safety 9,473,641 9,360,006 113,635 Education 41,547,973 41,299,842 248,131 Public corks and facilities 6,856,700 6,565,084 291,616 Human services 702,300 599,314 102,986 Culture and recreation 2,489,860 2,223,172 266,688 Employee benefits 14,044,252 13,936,496 107,756 Intergovernmental 1,075,794 1,106,829 (31,035) Debt service 2,952,730 2,937,592 15,138 Sub -total current yr gen fund 84,219,045 82,741,086 1,477,959 Continuing Appropriations 0200 fund Unused - Unused Caryfoneard & Purchase Orders (Net)* (140,289) 140,289,8, Total expenditures 84,219,045 1 82,600,797 1,618,248 1,618,248 Excess (deficiency) of revenues over expenditures (6,684,951) (3,418,378) 3,266,573 3,266,573 5t,a 3.50% 2.75% Town of Reading One Yr Changes Requested One Yr Changes Nov. TM Revised Budget Summary 101151151:43 PM F FY15 4.6% FY16 61,517,780 FY16 5.5% $ Changes 200,000 FY16 $61,717,780 Revenues Total Property Taxes Total Other Local Revenue 8.3% 6,362,500 4.0% $ - $ 6,362,500 Total IntergoVt Revenues 1.4% 13,612,031 2.5% $ - $13,612,031 Total Transfers & Available -22.3% 3,679,131 -2.0% $ 100,000 $ 3,779,131 Revs before Free Cash 2.7% $85,171,442 4.5% $ 300,000 $85,471,442 Free Cash 61.9% 1,500,000 -11.8% $ 712,250 $ 1,500,000 Net Available Revenues 3.5% $86,671,442 4.2% $ 1,012,250 $86,671,442 Accommodated Costs Benefits 4.5% 15,050,743 6.6% 85,000 $14,965,743 Capital -2.0% 2,201,000 -4.6% 488,250 $ 2,689,250 Debt -18.8% 5,355,036 66.2% 0 $ 5,355,036 Energy -2.1% 1,985,858 4.6% (85,000) $ 1,900,858 Financial 3.3% 810,000 4.5% 150,000 $ 960,000 Education - Out of district 7.2% 4,008,269 3.9% 0 $ 4,008,269 Education - Vocational 25.8% 490,350 5.0% 0 $ 490,350 Miscellaneous 48% 3,001,184 2.3% 50,000 $ 2,951,184 Accommodated Costs 0.4% $32,902,440 11.2% $ 611,250 $33,513,690 3.5%1 HR Generalist 16,971,528 $62k; Purchasing 2.75% $24k, sow $Sk; Animal CH $ 1,360,675 $18,332,203 O eratin Costs Municipal Go'vt Operating adjustments (comm. priori 11,709 $ 401,000 $ 412,709 adjustments(ent funds ove 3.5% 874,611 2.75% $ 874,611 TOTAL Muni Governmerd 5.2% 17,857,848 2.82% 1,761,675 $19,619,523 School & Sldgs Operating 3.5% 36,307,917 2.75% $ (905,766) $ 35,402,151 adjustments (comm. priori $ - Schools circui t bmakeradjusfinent for FY12 $ - TOTAL School & Bldgs 4.1% 36,307,917 2.75% (905,766) $35,402,151 Town Bldgs Operating Tar< -6.7% 454,909 6.95% $ (454,909) $ 0 adjustments (comm. priorit $ - TOTAL Town Bldgs 3.5% 454,909 6.95% 454,909 $ 0 10perating Budgets 4.4% $54,620,674 2.81% $ 401,000 $55,021,674 Municipal Go'vt Operatin 32.69% 35.66% School 8 Bldgs Operatin 66.47% 64.340% Tovm Bid s 0 orating T 0.83% 0.00% TOTAL SPENDING 3.0% $87,523,114 5.82% $ 1,012,250 i50k; DPW PD $10k; $250k new Fee 5�3 3.60% 3.75% 3.50% 2.75% 3.00% 2.50% 2.50% Town of Reading Bud el Summa One Yr One Yr One Yr One Yr One Yr One Yr One Yr 101151151:43 PM Changes Changes Changes Requested Changes Projected Changes Projected Changes Projected Changes FY73 FY 14 FY15 FY16 FY16 FY17 FY17 FY18 FY18 FY19 FY19 Revenues Total Property Taxes 34% 2.4% 4.6% 61,717,780 5.0% 63,766,470 3.3% 65,725,741 3.1% 67,755,933 3.1% Total Other local Revenue -0.4% 5.1% 8.3% 6,362,500 4,0% 6,580,000 3.4% 6,792,500 3.2% 6,990,000 2.9% Total lntergoVt Revenues -0.1% 1.1% 14% 13,612,031 25% 13,952,332 2.5% 14,301,140 2.5% 14,658,669 2.5% Total Transfers & Available 7.3% 9.7% -22.3% 3,779,131 O6% 3,805,960 0.7% 3,829,598 OS% 3,904,035 2.0% Revs before Fm Cash 2.8% 2.8% 2.7% $85,471,442 4.9% $88,104,762 3.1% $ 90,648,979 2.8% 593,309,438 2.9% Free Cash -192% 50.5% 61.9% 2,212,250 30.1% 2,000,000 .9.6% 2,000,000 0.0% 2,000,000 09% Net Available Revenues 2.SY. 3.2% 3.5% 587,683,692 5A °/. 590,104,762 2.8% $92,646,919 2.8% 595,309,436 2.9% Accommodated Costs Benefits 3.7% 14% 4.5% 14,965,743 6.0% 15,966,976 6.7% 16,909,799 5.9% 17,801,381 5.3% Capital 1044% 21.6% -2.0% 2,689,250 16.5% 1,900,000 -29.3% 2,350,000 23.7% 2,550,000 8.5% Debt -25.1% -72.5% -18.8% 4,511,541 10.0% 5,075,000 12.5% 4,932,315 -2.8% 4,818,933 -2.3% Energy 4.7% 15% -2.1% 1,900,856 0.1% 1,964,892 3.4% 2,061,637 4.9% 2,162,219 4.9% Financial 3.4% 1.4% 3.3% 960,OOD 23.9% 800,000 -167% 800,000 0.0% 825,000 3.1% Education - Out of district -12.9% 7.6% 7.2% 4,008,269 39% 4,168,600 4.0% 4,335,344 4.0% 4,508,758 40% Education - Vocational -22.5% 142% 25.8% 490,350 5.0% 518,307 5.7% 544,306 59% 571,522 5.0% Miscellaneous 3.2% 2.0% -0.8% 2,951,184 0.6% 3,036,371 2.9% 3,119,905 2.8% 3,206,458 2.8% Accommodated Cols .2.1% 1.5% 0.4% 532,177,195 9.8% $33,426,226 2.9% 535,053,306 6.9% 38,444.270 4.0% 0 eratin Casts Municipal GOM Operating 3.6% 375% 3.5% 18,332,203 10.99% 19,307,259 3.0% 19,789,941 2.5% 20,284,689 2.5% adjustments (comm. priority) 412,709 adjustments (ent funds ove 2.0% 6.6% 3.5% 674,611 275% 903,849 3.3% 928,945 2.8% 954,669 2.8% TOTAL Muni Govemmem 57% 5.6% 5.2% 19,619,523 12.96% 20,211,108 3.0% 20,718,886 2.58 21,239,358 25% School &Single Operating 3.6% 375% 3.5% 35,402,151 0.19% 36464,216 3.0% 37,375,821 2.5% 38,310,216 2.5% adjustments (comm. prionty) Schools cirwdOreakeroustmenllorFY12 TOTAL School & Bldgs 4.5% 4.3% 4.1% 35,402,151 0.19% 36,464,216 3.0% 37,375,821 2.5% 38,310,216 2.5% Town Bldgs Operating Tag. 3.6% 3.75% -67% adjustments (comm. priority) TOTAL Town eld s 3.6% .6.5% 3.5 Operating Budgets 4.9% 4.6% 4.4% E 55,027,676 3.56% $56,875,324 3.0% $ 58,094,707 2.5% $ 59,549,575 2.5% TOTAL SPENDING 2.4% 3.5% 3.0% 587,498,868 5.79% $90,103,550 3.0% $93,148,014 3.4% 595,993,866 3.1% 5 e Town of Reading One Yr One Yr One Yr One Yr One Yr One Yr One One Yr Revenues • Details Changes Changes Changes Chang Changes Changes Changes 10115'151:43 PM FY -2013 FY -207 FY -207 FY16 FY -2016 FY17 FY -201 FY18 FY -207 HIS PropeMTaxes Tax levy (within levy limes) 3.2% 3.6% 39% 58,745,545 40% 60,931,683 3.7% 62,957,475 3.3% 65,054,162 3.3% New Growth 78.4% 7.4% 35.6% 700,000 -17.1% 500,000 - 28.6% 500,000 0.0% 500,000 0.0% Tax levy (debt exclusion) -1.4% -29.5% 167% 2,934,523 756% 3,013,632 2.7% 2,954,082 -2.0% 2,914,982 -1.3% Abatements and exem dor 2.5% 2.5% 2.5% 662,288 2.5% 678,845 2.5% 695,816 25% 713,217 2.5% TotalPm Taxes 3.4% 2.4% 4.6% 61,717,780 5.8% 63,766,470 3.3% 65,725,741 3.1% 67,755,933 3.1% Other Local Revenues Motor Vehicle Excise -1.9% 7.6% 10.3% 3250,000 3.3% 3,350,000 3.1% 3,450,000 30% 3,550,040 2.9% Meals Tax 50.0% 167% 0.0% 350,000 0.0% 350,000 0.0% 360,000 29% 370,000 2.8% Penalteslinterest on taxes 10.3% 9.4% 2.9% 200,000 11.1% 225,000 12.5% 235,000 4.4% 245,000 4.3% Payments in lieu of taxes 3.2% 00% 1.5% 335,000 1.5% 340,000 1.5% 350,000 29% 360,000 2.9% Charges for services 0.0% 17% 11.1% 1,700,000 2.0% 1,775,000 44% 1,825,000 2.8% 1,875,000 2.7% Licensee &permits -10.3% 00% . 3.6% 150,000 3.4% 160,000 6.7% 165,000 31% 170,000 3.0% Fines -15.4% 00% -9.1% 102,500 2.5% 105,000 2.4% 107,500 24% 110,000 2.3% Interest Earnings 40.0% -16.7% 0.0% 175,000 75.0% 175,000 0.0% 200,000 143% 210,000 5.0% Medicaid Reimbursement 42.9% 0.0% 0.0% 100,000 00% 100,000 0.0% 100,000 0.0% 100,000 0.0% Total Other Local Revenu -0.4% 5.1% Ill 6362,500 4.0% 6,580,000 3.4% 6,792,500 3.2%1 6,980,000 29% Inlemovemmental Revenue Free Cash to payshortialls from 25% increase State Aid 5.3% 1.1% 1.4% 13,612,031 25% 13,952,332 2.5% 14,301,140 2S% 14,658,669 2.5% Tofallnte ovTRevenua .0.1% 1.1Y. 1.4% 13,fi12,031 2.5% 13,952,332 2.5% 14,301,140 2.5%1 14,656889 25% Operating Transfers and Available Funds 0.0% 25,000 0.0% 25,000 0.0% 25.000 00% 25,000 0.0% Cemetery sale of lots 0.0% 0.0% Sale of real estate funds -16.7% -20.0% -25.0% 100,000 -33.3% 50,000 -50.0% 0 0.0% 0 0.0% Reading ice Arena AuthoM 0.0% 50.0% MSBA payments -70.0% 278.7% RMLO payment -0.2% 51% 0.8% 2,379,520 20% 2,427,111 2.0% 2,475,653 20% 2,525,166 2.0% Enterprise Fund Support 2.0% 6.6% 3.5% 97011 14.5% 1,003,849 3.0% 1,028,945 2.5% 1,054,669 2.5% 40R Stabilization Fund 100.0% 40.2% Overlay su us 100.0% 265% 0.0% 300,000 -14.3% 300,000 0.0% 300,000 00% 300,000 0.0% Total Transfers& AVailab 7.3% 9.7% .23.3% 3,779,131 119% 31805,960 0.7% 3,826598 0.6% 3,904,835 20% OPERATING REVENUES 2.77%1 2.77% 2.63% 85,471,442 4.94% 88,104,762 3.08% 90,648,979 2.89% 93,309,436 293% Free Cash & Savings -19.2% 1,500,000 2,000,000 2,000,000 2,000,000 TOTAL REVENUES 2.52% 3.19% 3.41% $I16971,d42 4.60%1 90,104,762 3.60%1 92,648,979 2.82% 95,309,436 2.87% 5e5 Town of Reading Acconl Costs - Sum One Yr One Yr One Yr One Yr One Yr One Yr One Yr 10119151:43 PM Changes Changes Changes Changes Changes Changes Changes FY .2013 FY -2 1 FY - 2015 FY16 FY -2016 FY17 FY .201 FY18 FY .2018 FY18 FY -2018 4.5% 14,965,743 6.0% 15,964,976 6.7% 16,909,799 5.9% Benefits 3.7% 1.4% 17,801,381 5.3% Capital 104.4% 21.6% -2.0% 2,889,250 16.5% 1,900,000 -29.3% 2,350,000 23.7% 2,55,000 85% Debt -25.1% -12.5% -188% 4,511,541 400% 5,075,000 12.5% 0.932,315 -2.8% 4,818,933 -23% Energy -4.7% 1.5% -2.1% 1,900,858 0.1% 1,964,892 3.4% 2,061,837 4,9% 2,162,219 4.9% Financial 3.4% 1.4% 3.3% 960,000 23.9% 800,000 - 16.7% 800,000 00% 82,000 3.1% Education - Out of distric -12.9% 7.6% 7.2% 4,008,269 3.9% 4.168,600 4.0% 4,335,344 40% 0.508,758 4.0% Education - Vocational -22.5% 14.2% 25.8% 490,350 5.0% 518,387 57% 544,306 5.0% 571,522 5.0% Miscellaneous 3.2% 2.0% -0.8% 2,951,184 0.6% 3,036,371 29% 3,119,905 2.8% 3,208,0.58 2.8% Community Priorities TOTAL Accomm. COSTS .2.1% 1.5% 0.4% $ 32,477,195 9.8% $ 33,428,226 2.9% $ 35,053,306 d.9% $ 36,444,270 4.0% Accom Costs - Detail Accommodated Costs - Benefits Contributory Retirement 3.6% 45% 4.5% 3,517,154 3.0% 3,673,000 4.4% 3,838,285 4.5% 4,011,008 4.5% NonConOib. Retirement - 10.0% -08.1% - 100.0% 0 0 0 0 OBRA fees & OPEB study 166.7% 62.5% 166.7% 20,000 .50.0% 25,000 25.0% 25,ODD 0.0% 25,000 0.0% OPES ocintributmn 100.0% 71% 56% 500,000 53% 500,000 01 500,000 0.0% 500,000 0.0% Workers Compensation 5.0% -12.1% 5.3% 262,500 4.5% 29D,000 10.5% 301,600 4.0% 313,664 4.0% Unemployment Benefits -20.0% -16.7% 0.0% 100,000 0.0% 100,000 0.0% 100,000 0.0% 100,000 0.D% Group Health I Life Ins. .1.0% 1.4% 5.2% 9,761,089 8.0% 10,541,976 8.0% 11,279,914 7.0% 11,956,709 6.0% Medicare I Social Security 3.8% 15% 2.2% 725,000 3.6% 750,000 3.4% 775,0D0 3.3% 800,000 3.2% Police l Fire lndemniBcador 8.3% 7.7% 7.1% 80,000 67% 85,000 6.3% 90,000 5.9% 95,000 5.6% Total Benefits 3.7Y. 1.4% 4.5% $14,965,743 6.0% $15,964,976 8.7% $1,909,799 5.9% $17,801,381 5.3% 5% ofnet available molest) 4,126,846 4,254,556 4,384,745 4,519,723 less debt (net, inside levy) (1,577,018) (2,061,368) (1,978,233) (1,903,951) Available for cash capital 2,549,828 2,193,186 2,406,512 2,615,772 Temp shift to OPERATING (201,342) (212728) Extra Capital from 40R Fund Total Capital 104.4% 21.6% -2.0% $ 2,689,250 16.5% $ 1,900,000 .29.3% $ 2,350,000 23.7% $ 2,550,000 8.5% Accommodated Costs - Debt net inside ley mb Debt Service - Pnnolpal -15.5% -14.9% -29.1% 3,150,000 47.5% 3,895,000 23.7% 3,91 0.3% 3,930,000 O6% Debt Service - Interest -06.5% -0.4% 13.2% 1,361,541 25.2% 1,181 -13.3% 1,027,315 .12.9% 888,933 -13.5% Excluded debt -268% -26.0% 10.5% (2,934,523) 75.6% (3,013,632) 2.7% (2,954,082) -2.0% (2,914,982) -13% MSBA reimbursements 53.3% 278.7% Total Included Debt -18.8% -28.0% -5.4% $ 1,577,018 1.6% $ 2,061,368 30.7% $ 1,978,233 4.0% $ 1,903,957 -38% Total Debt .25.1% .12.5% -18.8% $ 0,511,511 40.0% $ 5,075,000 12.5% $ 4,932,315 3.8% 1 0.818,933 -2.3% 5e(0 Town of Reading Accorn Costs - Detail One Yr One Yr One Yr One Yr One Yr One Yr One Yr 7 017 517 5 1 43 PM Changes Changes Changes Changes Changes Changes Changes FY -2013 FY - 2014 FY .201! FY16 FY - 2016 FY17 FY m 2017 FY18 FY - 2019 FY18 FY -2018 Accommodated Costs - Enemy Street Lighting -18% 0.0% 0.0% 175,000 -12.5% 180,000 2.9% 190,000 5.6% 200,000 5.3% Heating of Buildings -TaNn 6.0% 1.1% 1.0% 139,454 47.0% 145,032 4.0% 152,284 5.0% 159,898 5.0% Heating of Buildings -Schoo -2.3% 8.5% 4.9% 488,305 23.0% 507,837 4.0% 533,229 5.0% 559,891 5.0% Utilities -Town -7.9% 15.4% .2.8% 183,614 -54% 190,959 4.0% 200,506 56% 210,532 5.0% Utilities - Schools -7.0% 41% -1.5% 664,485 8.5% 691,064 4.0% 725,618 5.0% 761,099 5.0% Fuel - vehide,DPW- -5.5% 3.6% -1,4%1 250,000 -12.6% 250,000 0.0% 260,000 4.0% 270,000 3.8% Total Enemy 4.7% 1.5% .2.1%1 1,gOQ858 0.1% $ 119641692 3.4% $ 2,061,637 4.9% $ 2,162,219 4.9% Accommodated Costs - Financial Casualty Insurance 7.6% 10.3% 6.7% 435,000 8.7% 425,000 -2.3% 420,000 -1.2% 440,000 4.8% Veterans Assistance 0.0% -10.0% 0.0% 225,000 0.0% 225,000 0.0% 230,000 2.2% 235,000 2.2% FINCOM Reserve Fund 0.0% 0.0% 0.0% 300,000 1006% 150,000 50.0% 150,000 0.0% 150.000 0.0% Total Financial 3.4% 1.4% 3.3% $ 960,000 23.9% $ 800,000 -16.7% $ 800,000 0.0% $ 825,000 3.1% Accommodated Costa - Education Out of district Out of district SPED tansP 6.8% 16% 9.3% 953,441 -10.0% 991,579 4.0% 1,031,242 4.0% 1,072,491 4.0% Out of district SPED tultion 4.0% 4,0%1 4.2% 4,007,665 0.6% 4,167,972 4.0% 4,334,690 4.0% 4,508,070 4.0% Out of district SPED rev. of 45,9% -72% -0.9% 852,837 -19.7% 990,950 4.0% 7,030,500 4.0% 1,071,872 4.0% Total Education - Out of 42.9% 7.6% 7.2% $ 4,008,269 3.9% $ 4,188,800 /.0% $ 4,335,344 4.0% $ 4,508,758 4.0% Accommodated Costs - Education Vocational School 241,500 56% 257,095 6.5% 269,949 5.0% 293,447 5.0% Vac School - NERMVS -26.1% 20.0% 4.2% Voc School - Minute Men -15.9% 50% 4.4% 143,850 56% 751,043 5.0% 158,595 5.0% 166,524 5.0% Voc School - Essex North 105,000 5.0% 110,250 5.0% 115,763 5.0% 121,551 5.0% Total Education - yoke .22.5% 14.2% 25.8% $ 490,350 10% $ 518,387 5.7% $ 544,306 5.0% $ 571,522 5.0% Accommodated Casts - Miscellaneous 0.0% 1,498,000 -0.1% 1,550.000 4.2% 7,672,000 4.0% 1,676,480 4.0% Rubbish Collection l OiswE 1.9% -0.7% Snow and Ice Control 6.2% 4.2% O6% 625,000 0.0% 625,000 0.0% 625,000 0.0% 625,000 0.0% State Assessments 5,3% 5.2% 5.5% 62"2" 1,4% 643,991 2.5% 660,091 2.5% 676,593 2.5% Cemetery -16% 6.5% 50% 209.900 2.2% 217,300 3.6% 222,814 2.5% 228,385 2.5% Total Miscellaneous 3.2% 2.0% .0.81 $ 2,951,184 0.67. $ 3,036,371 2.9% $ 31119,905 2.8% $ 3,ZOB,d58 2.8% 5f-1 Schena, Paula From: Letacheur, Bob Sent: Wednesday, October 07, 2015 5:00 PM To: Schena, Paula Subject: FW: Request From Reading Fire Chief For next BOS packet Robert W. LeLacbeur, Jr. CFA Town Manager, Town of Reading 16 Lowell Street Reading, MA 01867 townmanaaer0ci.readina. ma. us (P) 781- 942 -9043; (F) 781- 942 -9037 www.reodinama.aov; Please fill out our brie/ customer service survey at htto:/ /read i ngma- su"ey.vi rtualtownha ll. net /survey /sid /ff5d3a5fO3e8e b60/ Town Hall Hours: Monday, Wednesday and Thursday: 7:30 am - 5:30 p.m.;Tuesday: 7:30 a.m. - 7:00 p.m.; Friday: CLOSED From: Burns, Greg Sent: Wednesday, October 07, 2015 4:59 PM To: Jason. Lewislalmasenate.00v Cc: LeLacheur, Bob Subject: Request From Reading Fire Chief Good Afternoon Senator Lewis, I am respectfully requesting that you support Amendment #29 (filed by Senator Donnelly) to the Supplemental Budget that will be voted on Thursday. The amendment specifically addresses payment to ambulance providers and: • Eliminates direct pay to patients by insurers for Emergency Medical Services, • Prevents insurers from unilaterally slashing reimbursements for EMS, • Gives communities local authority on EMS reimbursement. This is an important issue for local communities. Thank you, Greg Chief Gregory). Bums Reading Fire Department 757 Main Street qG.