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HomeMy WebLinkAbout2026-05-20 Finance Committee PacketTown of Reading Meeting Posting with Agenda This Agenda has been prepared in advance and represents a listing of topics that the chair reasonably anticipates will be discussed at the meeting. However the agenda does not necessarily include all matters which may be taken up at this meeting. Page | 1 2018-07-16 LAG Board - Committee - Commission - Council: Finance Committee Date: 2026-05-20 Time: 7:00 PM Building: Pleasant Street Senior Center Location: Great Room Address: 49 Pleasant Street Agenda: Purpose: Financial Forum Meeting Called By: Jacquelyn LaVerde on behalf of Chair Joe Carnahan Notices and agendas are to be posted 48 hours in advance of the meetings excluding Saturdays, Sundays and Legal Holidays. Please keep in mind the Town Clerk’s hours of operation and make necessary arrangements to be sure your posting is made in an adequate amount of time. A listing of topics that the chair reasonably anticipates will be discussed at the meeting must be on the agenda. All Meeting Postings must be submitted in typed format; handwritten notices will not be accepted. Topics of Discussion: This meeting will be held in-person in the Pleasant Street Center Great Room and remotely via Zoom: Join Zoom Meeting https://us06web.zoom.us/j/84877500123 Meeting ID: 848 7750 0123 AGENDA: •Call to Order and Welcome •Override Preview Discussion o Structural Deficit o Early Projections from School Department o Current Status of Budgeting o Process for an Override o Options for an Override •Discuss Free Cash Projections •Discuss Impact of a Failed Override •Liaison Reports •Future Agendas •Approve Prior Meeting Minutes TOWN OF READING FINANCIAL FORUM FY28 BUDGET MAY 20, 2026 2 OVERVIEW -RESERVE STATUS MAY 2026 FREE CASH JULY 1, 2025 $ 17,312,250 NOV 25 TM –ARTICLES 4, 6, 10 (405,246) APR 26 TM –FY26 ART. 5 (1,686,000) APRIL 26 TM –FY27 BUDGET (6,475,000) $ 8,746,004 GENERAL STABILIZATION FUND $ 2,100,899* FINCOM RESERVES 200,000 TOTAL $ 11,046,903 ESTIMATED REGENERATION 3,000,000 ESTIMATED TOTAL $14,046,903 10.6% OF THE ESTIMATED $132.97 MILLION FY27 NET AVAILABLE REVENUE; FINCOM POLICY IS 7% MINIMUM *TOTAL EXCLUDES FUNDS DESIGNATED FOR A SPECIFIC PURPOSE 3 2026-2027 figures assume $3 million in regeneration each year, $8.57 million in uses in FY26, and $6.475 million in uses in FY27. 4 OVER THE LAST 3 YEARS, FREE CASH USE HAS EXCEEDED FREE CASH REGE NERATION. PRIOR TO THAT, IN MOST YEARS, FREE CASH REGENERATION OUTPACED FR EE CASH USE. 5 STRUCTURAL DEFICIT Acc. Costs - Details Actual Actual Actual Actual Actual Actual FY20-FY25 % FY20-FY25 at 2.5%/yr Above 2.5% Contributory Retirement 4,182,630 5,245,931 5,566,349 5,786,250 6,146,409 7,168,640 2,986,010 71.39%627,395 2,358,616 Non-Contrib. Retirement - - - - - - - - - OBRA fees & OPEB study 36,133 40,102 15,990 39,519 46,091 59,670 23,538 65.14%5,420 18,118 OPEB contribution 700,000 793,400 350,000 500,000 300,000 200,000 (500,000) -71.43%105,000 (605,000) Workers Compensation 321,867 367,860 370,389 322,121 360,412 378,907 57,040 17.72%48,280 8,760 Unemployment Benefits 173,187 3,420 25,376 119,133 17,751 124,600 (48,587) -28.05%25,978 (74,565) Group Health / Life Ins.10,442,131 10,218,075 10,256,254 11,797,425 12,743,199 13,568,463 3,126,333 29.94%1,566,320 1,560,013 Medicare / Social Security 857,472 866,894 908,571 994,285 1,023,616 1,048,215 190,744 22.24%128,621 62,123 Police / Fire Indemnification 192,812 292,304 143,771 272,931 58,806 124,927 (67,885) -35.21%28,922 (96,807) Acc. Costs - Benefits 16,906,231 17,827,986 17,636,700 19,831,665 20,696,283 22,673,422 5,767,192 71.75%2,535,935 3,231,257 5% of net available revs Acc. Costs - Capital Debt Service - Principal 1,245,000 1,760,000 1,515,000 2,543,700 2,415,000 2,255,000 1,010,000 81.12%186,750 823,250 Debt Service - Interest 306,002 376,676 297,644 482,363 700,835 562,838 256,836 83.93%45,900 210,935 Acc. Costs -Debt 1,551,002 2,136,676 1,812,644 3,026,063 3,115,835 2,817,838 1,266,836 81.68%232,650 1,034,185 Street Lighting (DPW)107,660 105,148 105,034 101,476 101,780 105,179 (2,481) -2.30%16,149 (18,630) Electricty (FacCORE)783,648 774,382 829,970 885,586 894,210 943,049 159,401 20.34%117,547 41,854 Natl Gas (FacCORE)419,158 471,885 517,918 539,589 570,425 773,786 354,628 84.60%62,874 291,754 Water/Sewer (FacCORE)172,554 157,960 165,997 218,799 197,371 234,942 62,388 36.16%25,883 36,505 Fuel - vehicles (DPW)153,945 166,039 242,298 242,298 232,143 237,612 83,667 54.35%23,092 60,575 Acc. Costs - Energy 1,636,964 1,675,414 1,861,216 1,987,748 1,995,929 2,294,568 657,603 40.17%245,545 412,059 6 STRUCTURAL DEFICIT CONT’D Town of Reading FY20 FY21 FY22 FY23 FY24 FY25 Net Change Expected Net Change Increase Acc. Costs - Details Actual Actual Actual Actual Actual Actual FY20-FY25 % FY20-FY25 at 2.5%/yr Above 2.5% Casualty Ins (AD SVC)492,140 545,023 664,463 849,898 856,119 943,587 451,447 91.73%73,821 377,626 Vet's Assistance (PUB SVC)141,101 96,858 104,970 82,733 64,729 57,622 (83,479) -59.16%21,165 (104,644) Acc. Costs - Financial 633,241 641,881 769,433 932,630 920,849 1,001,209 367,968 58.11%94,986 272,982 SPED transp OOD (Sch)1,001,906 941,099 1,069,171 1,226,252 1,135,590 1,443,420 441,514 44.07%150,286 291,228 SPED tuition OOD (Sch)3,188,706 2,623,005 3,078,209 4,206,758 4,014,323 2,509,903 (678,803) -21.29%478,306 (1,157,109) Acc. Costs - OOD SPED 4,190,613 3,564,105 4,147,381 5,433,010 5,149,914 3,953,323 (237,289) -5.66%628,592 (865,881) Voc School - NERMVS 342,028 453,782 571,636 639,569 631,268 858,300 516,272 150.94%51,304 464,968 Voc School - NERMVS Capital - - - - - - - - - Voc School - Minute Man 34,583 40,448 43,654 49,750 - - (34,583) -100.00%5,187 (39,770) Voc School - Essex North 109,164 165,770 141,493 214,659 248,300 202,942 93,778 85.91%16,375 77,403 Acc. Costs - Vocational 485,775 660,000 756,783 903,978 879,568 1,061,242 575,467 118.46%72,866 502,601 Rubbish (DPW)1,602,528 1,815,220 1,834,569 1,814,183 1,886,901 2,974,997 1,372,469 85.64%240,379 1,132,090 Snow and Ice Control (DPW)604,556 759,843 844,416 707,055 609,957 968,014 363,458 60.12%90,683 272,775 State Assessments 712,157 745,771 736,131 794,720 828,378 899,159 187,002 26.26%106,824 80,178 Acc. Costs - Misc.2,919,242 3,320,834 3,415,117 3,315,958 3,325,236 4,842,170 1,922,929 65.87%437,886 1,485,043 Grand Total 28,323,067 29,826,895 30,399,274 35,431,052 36,083,615 38,643,772 10,320,706 36.44%4,248,460 6,072,246 Budget Net of Excluded Debt, Capital and Community Priorities 31,752,590 33,007,012 33,647,828 36,105,512 38,010,754 39,911,168 Variance to Budget 3,429,523 3,180,117 3,248,554 674,460 1,927,139 1,267,396 Other Important Information: SPED Budget In District and OOD Combined 14,008,093 13,447,355 14,995,735 17,279,086 17,159,624 16,755,198 2,747,105 19.61%2,101,214 645,891 SPED In-District 9,817,480 9,883,250 10,848,354 11,846,076 12,009,710 12,801,875 2,984,395 30.40%1,472,622 1,511,773 SPED OOD 4,190,613 3,564,105 4,147,381 5,433,010 5,149,914 3,953,323 (237,289) -5.66%628,592 (865,881) 14,008,093 13,447,355 14,995,735 17,279,086 17,159,624 16,755,198 2,747,105 19.61%2,101,214 645,891 7 COMMUNITY PRIORITIES INCLUDE: $305,000 ADD STAFF FOR NEW BUILDINGS (CUSTODIANS & MAINTENANCE STAFF TOWN SIDE) $125,000 ADD MAINTENANCE EXPENSES $125,000 ADD SCHOOL CLEANING SERVICES FOR THE NEW KILLAM BUILDING (SCHOOL) $917,639 TO GET TO THE 5.25% BUDGET INCREASE REQUESTED FROM THE SCHOOL 3.00%3.75%3.00%3.00% Town of Reading Budget Summary One Yr One Yr One Yr One Yr 5/19/26 10:04 AM Projected Chng Projected Chng Projected Chng Projected Chng FY27 FY27 FY28 FY28 FY29 FY29 FY30 FY30 Revenues Total Property Taxes 98,668,153 9.2%104,034,318 5.4%109,239,296 5.0%112,588,937 3.1% Total Other Local Revenues 12,791,750 10.2%13,313,674 4.1%13,720,842 3.1%13,965,095 1.8% Total Intergov't Revenues 17,105,266 2.5%17,532,897 2.5%17,971,220 2.5%18,420,500 2.5% Total Transfers & Available 4,407,222 2.1%4,510,019 2.3%4,605,039 2.1%4,702,389 2.1% Revs before Free Cash 132,972,391$ 8.11%139,390,909$ 4.83%145,536,398$ 4.41%149,676,921$ 2.85% Free Cash 6,475,000 2.7%10,000,000 54.4%11,875,000 18.8%12,035,000 1.3% Extra for Capital 0 -100%0 -100%0 -100%0 -100% Net Available Revenues 139,447,391$ 7.85%149,390,909$ 7.13%157,411,398$ 5.37%161,711,921$ 2.73%Accommodated Costs Benefits 26,731,905 6.9% 29,027,182 8.6% 31,388,568 8.1% 33,373,409 6.3% Capital 2,961,500 -27.7% 3,989,000 34.7% 4,742,600 18.9% 3,659,525 -22.8% Debt (inside levy)3,061,898 30.1% 2,902,700 -5.2% 2,636,200 -9.2% 3,791,225 43.8% Debt (excluded)5,195,837 7,375,194 9,313,694 9,315,194 Energy 2,500,904 -3.5% 2,874,307 14.9% 2,940,835 2.3% 3,003,760 2.1% Financial 1,241,652 -7.1% 1,495,069 20.4% 1,524,820 2.0% 1,555,316 2.0% Education - Out of district 5,848,828 -7.3% 5,995,049 2.5% 6,259,144 4.4% 6,475,133 3.5% Education - Vocational 1,603,261 2.9% 1,663,051 3.7% 1,703,447 2.4% 1,757,241 3.2% Miscellaneous 4,641,118 23.7% 4,816,989 3.8% 5,001,092 3.8% 5,193,826 3.9% Community Priorities 105,000 0.0% 1,472,639 0.0%0 0.0%0 0.0% Accommodated Costs 53,891,902$ 14.28% 61,611,179$ 14.32% 65,510,400$ 6.33% 68,124,628$ 3.99% 8 Override Amount Impact on Ave Bill $ 7,500,000 $ 849.77 $ 8,000,000 $ 906.43 $ 9,000,000 $1,019.73 $10,000,000 $1,133.03 $11,000,000 $1,246.34 $12,000,000 $1,359.64 $13,000,000 $1,472,.94 $14,000,000 $1,586.24 •$944,193 FY26 Average Single Family Assessed Value •$10,148 FY26 Average Single Family Tax Bill Impact On The Average Single-Family Home 9 Free Cash Use in FY28 FY28 Operating Budget Impact $ 6,475,000 + .90% $ 5,000,000 - .88% $ 4,000,000 -2.10% $ 3,000,000 -3.28% Strategies If Override Fails 10 3.00%3.75%3.00%3.00% Town of Reading Budget Summary One Yr One Yr One Yr One Yr 5/19/26 5:37 PM Projected Chng Projected Chng Projected Chng Projected Chng No.FY27 FY27 FY28 FY28 FY29 FY29 FY30 FY30 Revenues A1 Total Property Taxes 98,668,153 9.2%104,034,318 5.4%109,239,296 5.0%112,588,937 3.1% A2 Total Other Local Revenues 12,791,750 10.2%13,313,674 4.1%13,720,842 3.1%13,965,095 1.8% A3 Total Intergov't Revenues 17,105,266 2.5%17,532,897 2.5%17,971,220 2.5%18,420,500 2.5% A4 Total Transfers & Available 4,407,222 2.1%4,510,019 2.3%4,605,039 2.1%4,702,389 2.1% A98 Revs before Free Cash 132,972,391$ 8.11%139,390,909$ 4.83%145,536,398$ 4.41%149,676,921$ 2.85% A5 Free Cash 6,475,000 2.7%10,000,000 54.4%11,875,000 18.8%12,035,000 1.3% A6 Extra for Capital 0 -100%0 -100%0 -100%0 -100% A99 Net Available Revenues 139,447,391$ 7.85%149,390,909$ 7.13%157,411,398$ 5.37%161,711,921$ 2.73%Accommodated Costs B Benefits 26,731,905 6.9%29,027,182 8.6%31,388,568 8.1%33,373,409 6.3% C Capital 2,961,500 -27.7%3,989,000 34.7%4,742,600 18.9%3,659,525 -22.8% Debt (inside levy)3,061,898 30.1%2,902,700 -5.2%2,636,200 -9.2%3,791,225 43.8% D Debt (excluded)5,195,837 7,375,194 9,313,694 9,315,194 E Energy 2,500,904 -3.5%2,874,307 14.9%2,940,835 2.3%3,003,760 2.1% F Financial 1,241,652 -7.1%1,495,069 20.4%1,524,820 2.0%1,555,316 2.0% G Education - Out of district 5,848,828 -7.3%5,995,049 2.5%6,259,144 4.4%6,475,133 3.5% H Education - Vocational 1,603,261 2.9%1,663,051 3.7%1,703,447 2.4%1,757,241 3.2% J Miscellaneous 4,641,118 23.7%4,816,989 3.8%5,001,092 3.8%5,193,826 3.9% K Community Priorities 105,000 0.0%1,472,639 0.0%0 0.0%0 0.0% L1 Accommodated Costs 53,891,902$ 14.28%61,611,179$ 14.32%65,510,400$ 6.33%68,124,628$ 3.99% L2 Net Accommodated Costs 53,891,902$ 14.28%61,611,179$ 14.32%65,510,400$ 6.33%68,124,628$ 3.99% 1,051,280$ 1,614$ 16,899$ 20,589$ Operating Costs OC1 Municipal Gov't Operating 29,513,847 3.00%30,407,306 3.75%31,401,925 3.00%32,786,883 3.00% adjustments (205,600) 80,000 430,000 adjustments (EF+RF)1,380,191 3.00%1,431,948 3.75%1,474,906 3.00%1,519,154 3.00% TOTAL Muni Govt OPER 30,688,438 2.31%31,919,254 4.01%33,306,832 4.35%34,306,037 3.00% OC2 School Operating 53,590,771 3.00%55,833,862 3.75%57,534,628 3.00%59,260,667 1.17% adjustments 225,000 25,000 1,042,639 - TOTAL School OPER 53,815,771 3.43%55,858,862 3.80%58,577,267 4.87%59,260,667 1.17% OC4 Operating Budgets 84,504,209$ 3.02%87,778,116$ 3.87%91,884,099$ 4.68%93,566,704$ 1.83% Municipal Gov't Operating 36.3%36.4%36.2%36.7% School Operating 63.7%63.6%63.8%63.3% TOTAL SPENDING 138,396,111$ 7.13%149,389,295$ 7.94%157,394,499$ 5.36%161,691,332$ 2.73%` Muni Govt OPER 30,688,438$ 2.31%31,919,254$ 4.01%33,306,832$ 4.35%34,306,037$ 3.00% Muni Govt ACCOM 7,286,265$ 10.34%8,496,520$ 16.61%8,323,907$ -2.03%8,586,490$ 3.15% Muni Govt TOTAL 37,974,702$ 3.76%40,415,774$ 6.43%41,630,738$ 3.01%42,892,527$ 3.03% School OPER 53,815,771$ 3.43%55,858,862$ 3.80%58,577,267$ 4.87%59,260,667$ 1.17% School ACCOM 5,873,828$ -6.94%7,090,121$ 20.71%6,259,144$ -11.72%6,475,133$ 3.45% School TOTAL 59,689,599$ 2.31%62,948,983$ 5.46%64,836,411$ 3.00%65,735,800$ 1.39% 11 A Town of Reading One Yr One Yr One Yr One Yr Revenues - Details Projected Chng Projected Chng Projected Chng Projected Chng No.5/19/26 5:37 PM FY27 FY26 FY28 FY28 FY29 FY29 FY30 FY29 Property Taxes Tax levy (within levy limit)93,429,010 3.4%96,615,485 3.4%99,902,122 3.4%103,270,925 3.4% New Growth 830,000 -0.6%850,000 2.4%850,000 0.0%850,000 0.0% Tax levy (debt exclusion)5,195,837 7,375,194 41.9%9,313,694 26.3%9,315,194 0.0% Abatements and exemptions (786,693)2.5%(806,361)2.5%(826,520)2.5%(847,183)2.5% A1 Total Property Taxes 98,668,153 9.2%104,034,318 5.4%109,239,296 5.0%112,588,937 3.1% Other Local Revenues Motor Vehicle Excise 4,750,000 5.2%5,015,000 5.6%5,285,000 5.4%5,550,000 5.0% Meals and Room Tax 706,000 5.1%745,000 5.5%765,000 2.7%787,950 3.0% Penalties/interest on taxes 405,600 4.0%421,824 4.0%438,697 4.0%456,245 4.0% Payments in lieu of taxes 495,000 3.6%509,850 3.0%525,146 3.0%540,900 3.0% Charges for services 2,705,150 7.2%2,870,000 6.1%3,022,000 5.3%3,100,000 2.6% Licenses & permits 175,000 5.7%182,000 4.0%190,000 4.4%195,000 2.6% Fines 90,000 5.9%95,000 5.6%100,000 5.3%105,000 5.0% Interest Earnings 3,295,000 24.3%3,300,000 0.2%3,220,000 -2.4%3,050,000 -5.3% Medicaid Reimbursement 170,000 30.8%175,000 2.9%175,000 0.0%180,000 2.9% A2 Total Other Local Revenues 12,791,750 10.2%13,313,674 4.1%13,720,842 3.1%13,965,095 1.8% Intergovernmental Revenue State Aid 17,105,266 2.5%17,532,897 2.5%17,971,220 2.5%18,420,500 2.5% A3 Total Intergov't Revenues 17,105,266 2.5%17,532,897 2.5%17,971,220 2.5%18,420,500 2.5% Operating Transfers and Available Funds Cemetery sale of lots 25,000 0.0%25,000 0.0%25,000 0.0%25,000 0.0% RMLD payment 2,552,031 2.0%2,603,071 2.0%2,655,133 2.0%2,708,236 2.0% Enterprise Fund Support 1,380,191 3.0%1,431,948 3.8%1,474,906 3.0%1,519,154 3.0% School Revolving Funds 100,000 0.0%100,000 0.0%100,000 0.0%100,000 0.0% Premiums Reserve for Debt 0 #DIV/0!0 #DIV/0!0 #DIV/0!0 #DIV/0! Overlay surplus 350,000 0.0%350,000 0.0%350,000 0.0%350,000 0.0% A4 Total Transfers & Available 4,407,222 2.1%4,510,019 2.3%4,605,039 2.1%4,702,389 2.1% OPERATING REVENUES 132,972,391 8.11%139,390,909 4.83%145,536,398 4.41%149,676,921 2.85% A5 Free Cash 6,475,000 2.7%10,000,000 54.4%11,875,000 18.8%12,035,000 1.3% TOTAL REVENUES 139,447,391 7.85%149,390,909 7.13%157,411,398 5.37%161,711,921 2.73% Town of Reading Acc. Costs - Summary One Yr One Yr One Yr One Yr 5/19/26 5:37 PM Projected Chng Projected Chng Projected Chng Projected Chng No.FY27 FY27 FY28 FY28 FY29 FY28 FY30 FY28 B Benefits 26,731,905 6.9%29,027,182 8.6%31,388,568 8.1%33,373,409 6.3% C Capital 2,961,500 3,989,000 4,742,600 3,659,525 Debt (inside levy)3,061,898 -6.6%2,902,700 14.4%2,636,200 7.1%3,791,225 1.0% D Debt (excluded)5,195,837 7,375,194 41.9%9,313,694 26.3%9,315,194 E Energy 2,500,904 -3.5%2,874,307 14.9%2,940,835 2.3%3,003,760 2.1% F Financial 1,241,652 -7.1%1,495,069 20.4%1,524,820 2.0%1,555,316 2.0% G Education - Out of district 5,848,828 -7.3%5,995,049 2.5%6,259,144 4.4%6,475,133 3.5% H Education - Vocational 1,603,261 2.9%1,663,051 3.7%1,703,447 2.4%1,757,241 3.2% J Miscellaneous 4,641,118 23.7%4,816,989 3.8%5,001,092 3.8%5,193,826 3.9% K Community Priorities 105,000$ 1,472,639 TOTAL Accomm. COSTS 53,891,902$ 14.3%61,611,179$ 14.3%65,510,400$ 6.3%68,124,628$ #DIV/0! 12 Town of Reading One Yr One Yr One Yr One Yr Acc. Costs - Details Projected Chng Projected Chng Projected Chng Projected Chng B FY27 FY27 FY28 FY28 FY29 FY29 FY30 FY30 B1 Contributory Retirement 8,158,847 5.0%8,628,981 5.8%9,146,720 6.0%9,695,523 6.0% B3 OBRA fees & OPEB study 70,000 75.0%70,000 0.0%70,000 0.0%70,000 0.0% B4 OPEB contribution 200,000 0.0%500,000 150.0%500,000 0.0%500,000 0.0% B5 Workers Compensation 326,892 4.0%339,968 4.0%353,567 4.0%367,709 4.0% B6 Unemployment Benefits 130,000 62.5%135,000 3.8%135,000 0.0%140,000 3.7% B7 Group Health / Life Ins.16,523,846 7.2%17,996,230 8.9%19,795,853 10.0%21,181,563 7.0% B8 Medicare / Social Security 1,187,320 11.9%1,217,003 2.5%1,247,428 2.5%1,278,614 2.5% B9 Police / Fire Indemnification 135,000 3.8%140,000 3.7%140,000 0.0%140,000 0.0% B99 Acc. Costs - Benefits 26,731,905$ 6.9%29,027,182$ 8.6%31,388,568$ 8.1%33,373,409$ 6.3% C99 Acc. Costs - Capital 2,961,500$ -27.7%3,989,000$ 34.7%4,742,600$ 18.9%3,659,525$ -22.8% D1 Debt Service - Principal 3,605,000 101.4%4,680,000 29.8%6,580,000 40.6%7,840,000 19.1% D2 Debt Service - Interest 4,652,735 725.7%5,597,894 20.3%5,369,894 -4.1%5,266,419 -1.9% D3 Excluded debt (5,195,837) 0.0%(7,375,194) 41.9%(9,313,694) 0.0%(9,315,194) 0.0% Total Included Debt 3,061,898$ 30.1%2,902,700$ -5.2%2,636,200$ -9.2%3,791,225$ 43.8% Premiums for general fund -$ #DIV/0!-$ #DIV/0!-$ #DIV/0!-$ #DIV/0! D99 Acc. Costs -Debt 8,257,735$ 250.9%10,277,894$ 24.5%11,949,894$ 16.3%13,106,419$ 9.7% E1 Street Lighting (DPW)135,000 0.0%135,000 0.0%140,000 3.7%140,000 0.0% E2 Electricty (FacCORE)971,600 -11.3%1,187,001 22.2%1,210,741 2.0%1,234,956 2.0% E3 Natl Gas (FacCORE)914,304 2.0%1,042,306 14.0%1,068,364 2.5%1,095,073 2.5% E4 Water/Sewer (FacCORE)240,000 4.1%255,000 6.3%261,375 2.5%267,909 2.5% E6 Fuel - vehicles (DPW)240,000 2.1%255,000 6.3%260,355 2.1%265,822 2.1% E99 Acc. Costs - Energy 2,500,904$ -3.5%2,874,307$ 14.9%2,940,835$ 2.3%3,003,760$ 2.1% F1 Casualty Ins (AD SVC)936,652 -7.4%1,190,069 27.1%1,219,820 2.5%1,250,316 2.5% F2 Vet's Assistance (PUB SVC)105,000$ -16.0%105,000$ 0.0%105,000$ 0.0%105,000$ 0.0% F3 FINCOM Reserve Fund 200,000 0.0%200,000 0.0%200,000 0.0%200,000 0.0% F99 Acc. Costs - Financial 1,241,652$ -7.1%1,495,069$ 20.4%1,524,820$ 2.0%1,555,316$ 2.0% G1 SPED transp OOD (Sch)1,341,681 7.0%1,388,640 3.5%1,437,242 3.5%1,487,546 3.5% G2a SPED tuition OOD (Sch)6,328,488 9.0%6,549,985 3.5%6,779,235 3.5%7,016,508 3.5% G2b SPED contingency 600,607 -49.5%621,628 3.5%643,385 3.5%649,819 1.0% G3 SPED offsets OOD (Sch)(2,421,948)25.1%(2,512,771)3.8%(2,600,718)3.5%(2,678,740)3.0% G99 Acc. Costs - OOD SPED 5,848,828$ -7.3%6,047,482$ 3.4%6,259,144$ 3.5%6,475,133$ 3.5% H1 Voc School - NERMVS 998,308 4.0%1,038,241 4.0%1,079,770 4.0%1,122,961 4.0% Voc School - NERMVS Capital 337,560 -0.6%347,574 3.0%336,225 -3.3%336,225 0.0% H2 Voc School - Minute Man 56,818 2.5%58,238 2.5%59,694 2.5%61,187 2.5% Voc School - Essex North 210,575 4.0%218,998 4.0%227,757 4.0%236,868 4.0% H99 Acc. Costs - Vocational 1,603,261$ 2.9%1,663,051$ 3.7%1,703,447$ 2.4%1,757,241$ 3.2% J1 Rubbish (DPW)3,068,709 39.5%3,222,144 5.0%3,383,252 5.0%3,552,414 5.0% J2 Snow and Ice Control (DPW)675,000 0.0%675,000 0.0%675,000 0.0%675,000 0.0% J3 State Assessments 897,409 2.5%919,844 2.5%942,840 2.5%966,411 2.5% Cemetery (DPW) J99 Acc. Costs - Misc.4,641,118$ 23.7%4,816,989$ 3.8%5,001,092$ 3.8%5,193,826$ 3.9% 13 3.00%0.90%3.00%3.00% Town of Reading Budget Summary One Yr One Yr One Yr One Yr 5/19/26 5:37 PM Projected Chng Projected Chng Projected Chng Projected Chng No.FY27 FY27 FY28 FY28 FY29 FY29 FY30 FY30 Revenues A1 Total Property Taxes 98,668,153 9.2%104,034,318 5.4%109,239,296 5.0%112,588,937 3.1% A2 Total Other Local Revenues 12,791,750 10.2%13,313,674 4.1%13,720,842 3.1%13,965,095 1.8% A3 Total Intergov't Revenues 17,105,266 2.5%17,532,897 2.5%17,971,220 2.5%18,420,500 2.5% A4 Total Transfers & Available 4,407,222 2.1%4,470,684 1.4%4,564,524 2.1%4,660,658 2.1% A98 Revs before Free Cash 132,972,391$ 8.11%139,351,574$ 4.80%145,495,882$ 4.41%149,635,190$ 2.84% A5 Free Cash 6,475,000 2.7%6,475,000 0.0%8,515,000 31.5%9,520,000 11.8% A6 Extra for Capital 0 -100%0 -100%0 -100%0 -100% A99 Net Available Revenues 139,447,391$ 7.85%145,826,574$ 4.57%154,010,882$ 5.61%159,155,190$ 3.34%Accommodated Costs B Benefits 26,731,905 6.9%29,157,182 9.1%31,531,568 8.1%33,526,419 6.3% C Capital 2,961,500 -27.7%3,750,000 26.6%4,742,600 26.5%3,659,525 -22.8% Debt (inside levy)3,061,898 30.1%2,902,700 -5.2%2,636,200 -9.2%3,791,225 43.8% D Debt (excluded)5,195,837 7,375,194 9,313,694 9,315,194 E Energy 2,500,904 -3.5%2,874,307 14.9%2,940,835 2.3%3,003,760 2.1% F Financial 1,241,652 -7.1%1,365,069 9.9%1,391,570 1.9%1,418,734 2.0% G Education - Out of district 5,848,828 -7.3%5,995,049 2.5%6,259,144 4.4%6,475,133 3.5% H Education - Vocational 1,603,261 2.9%1,663,051 3.7%1,703,447 2.4%1,757,241 3.2% J Miscellaneous 4,641,118 23.7%4,816,989 3.8%5,001,092 3.8%5,193,826 3.9% K Community Priorities 105,000 0.0%555,000 0.0%0 0.0%0 0.0% L1 Accommodated Costs 53,891,902$ 14.28%60,454,540$ 12.18%65,520,150$ 8.38%68,141,057$ 4.00% L2 Net Accommodated Costs 53,891,902$ 14.28%60,454,540$ 12.18%65,520,150$ 8.38%68,141,057$ 4.00% 1,051,280$ 2,287$ 4,894$ 2,468$ Operating Costs OC1 Municipal Gov't Operating 29,513,847 3.00%29,572,021 0.90%30,541,582 3.00%31,900,729 3.00% adjustments (205,600) 80,000 430,000 adjustments (EF+RF)1,380,191 3.00%1,392,613 0.90%1,434,391 3.00%1,477,423 3.00% TOTAL Muni Govt OPER 30,688,438 2.31%31,044,634 1.16%32,405,973 4.39%33,378,152 3.00% OC2 School Operating 53,590,771 3.00%54,300,113 0.90%55,954,866 3.00%57,633,512 2.77% adjustments 225,000 25,000 125,000 - TOTAL School OPER 53,815,771 3.43%54,325,113 0.95%56,079,866 3.23%57,633,512 2.77% OC4 Operating Budgets 84,504,209$ 3.02%85,369,746$ 1.02%88,485,839$ 3.65%91,011,664$ 2.85% Municipal Gov't Operating 36.3%36.4%36.6%36.7% School Operating 63.7%63.6%63.4%63.3% TOTAL SPENDING 138,396,111$ 7.13%145,824,286$ 5.37%154,005,989$ 5.61%159,152,721$ 3.34%` Muni Govt OPER 30,688,438$ 2.31%31,044,634$ 1.16%32,405,973$ 4.39%33,378,152$ 3.00% Muni Govt ACCOM 7,286,265$ 10.34%8,366,520$ 14.83%8,190,657$ -2.10%8,449,909$ 3.17% Muni Govt TOTAL 37,974,702$ 3.76%39,411,154$ 3.78%40,596,629$ 3.01%41,828,061$ 3.03% School OPER 53,815,771$ 3.43%54,325,113$ 0.95%56,079,866$ 3.23%57,633,512$ 2.77% School ACCOM 5,873,828$ -6.94%6,172,482$ 5.08%6,259,144$ 1.40%6,475,133$ 3.45% School TOTAL 59,689,599$ 2.31%60,497,595$ 1.35%62,339,010$ 3.04%64,108,645$ 2.84% 14 A Town of Reading One Yr One Yr One Yr One Yr Revenues - Details Projected Chng Projected Chng Projected Chng Projected Chng No.5/19/26 5:37 PM FY27 FY26 FY28 FY28 FY29 FY29 FY30 FY29 Property Taxes Tax levy (within levy limit)93,429,010 3.4%96,615,485 3.4%99,902,122 3.4%103,270,925 3.4% New Growth 830,000 -0.6%850,000 2.4%850,000 0.0%850,000 0.0% Tax levy (debt exclusion)5,195,837 7,375,194 41.9%9,313,694 26.3%9,315,194 0.0% Abatements and exemptions (786,693)2.5%(806,361)2.5%(826,520)2.5%(847,183)2.5% A1 Total Property Taxes 98,668,153 9.2%104,034,318 5.4%109,239,296 5.0%112,588,937 3.1% Other Local Revenues Motor Vehicle Excise 4,750,000 5.2%5,015,000 5.6%5,285,000 5.4%5,550,000 5.0% Meals and Room Tax 706,000 5.1%745,000 5.5%765,000 2.7%787,950 3.0% Penalties/interest on taxes 405,600 4.0%421,824 4.0%438,697 4.0%456,245 4.0% Payments in lieu of taxes 495,000 3.6%509,850 3.0%525,146 3.0%540,900 3.0% Charges for services 2,705,150 7.2%2,870,000 6.1%3,022,000 5.3%3,100,000 2.6% Licenses & permits 175,000 5.7%182,000 4.0%190,000 4.4%195,000 2.6% Fines 90,000 5.9%95,000 5.6%100,000 5.3%105,000 5.0% Interest Earnings 3,295,000 24.3%3,300,000 0.2%3,220,000 -2.4%3,050,000 -5.3% Medicaid Reimbursement 170,000 30.8%175,000 2.9%175,000 0.0%180,000 2.9% A2 Total Other Local Revenues 12,791,750 10.2%13,313,674 4.1%13,720,842 3.1%13,965,095 1.8% Intergovernmental Revenue State Aid 17,105,266 2.5%17,532,897 2.5%17,971,220 2.5%18,420,500 2.5% A3 Total Intergov't Revenues 17,105,266 2.5%17,532,897 2.5%17,971,220 2.5%18,420,500 2.5% Operating Transfers and Available Funds Cemetery sale of lots 25,000 0.0%25,000 0.0%25,000 0.0%25,000 0.0% RMLD payment 2,552,031 2.0%2,603,071 2.0%2,655,133 2.0%2,708,236 2.0% Enterprise Fund Support 1,380,191 3.0%1,392,613 0.9%1,434,391 3.0%1,477,423 3.0% School Revolving Funds 100,000 0.0%100,000 0.0%100,000 0.0%100,000 0.0% Premiums Reserve for Debt 0 #DIV/0!0 #DIV/0!0 #DIV/0!0 #DIV/0! Overlay surplus 350,000 0.0%350,000 0.0%350,000 0.0%350,000 0.0% A4 Total Transfers & Available 4,407,222 2.1%4,470,684 1.4%4,564,524 2.1%4,660,658 2.1% OPERATING REVENUES 132,972,391 8.11%139,351,574 4.80%145,495,882 4.41%149,635,190 2.84% A5 Free Cash 6,475,000 2.7%6,475,000 0.0%8,515,000 31.5%9,520,000 11.8% TOTAL REVENUES 139,447,391 7.85%145,826,574 4.57%154,010,882 5.61%159,155,190 3.34% Town of Reading Acc. Costs - Summary One Yr One Yr One Yr One Yr 5/19/26 5:37 PM Projected Chng Projected Chng Projected Chng Projected Chng No.FY27 FY27 FY28 FY28 FY29 FY28 FY30 FY28 B Benefits 26,731,905 6.9%29,157,182 9.1%31,531,568 8.1%33,526,419 6.3% C Capital 2,961,500 3,750,000 4,742,600 3,659,525 Debt (inside levy)3,061,898 -6.6%2,902,700 10.4%2,636,200 10.9%3,791,225 1.0% D Debt (excluded)5,195,837 7,375,194 41.9%9,313,694 26.3%9,315,194 E Energy 2,500,904 -3.5%2,874,307 14.9%2,940,835 2.3%3,003,760 2.1% F Financial 1,241,652 -7.1%1,365,069 9.9%1,391,570 1.9%1,418,734 2.0% G Education - Out of district 5,848,828 -7.3%5,995,049 2.5%6,259,144 4.4%6,475,133 3.5% H Education - Vocational 1,603,261 2.9%1,663,051 3.7%1,703,447 2.4%1,757,241 3.2% J Miscellaneous 4,641,118 23.7%4,816,989 3.8%5,001,092 3.8%5,193,826 3.9% K Community Priorities 105,000$ 555,000 TOTAL Accomm. COSTS 53,891,902$ 14.3%60,454,540$ 12.2%65,520,150$ 8.4%68,141,057$ #DIV/0! 15 Town of Reading One Yr One Yr One Yr One Yr Acc. Costs - Details Projected Chng Projected Chng Projected Chng Projected Chng B FY27 FY27 FY28 FY28 FY29 FY29 FY30 FY30 B1 Contributory Retirement 8,158,847 5.0%8,628,981 5.8%9,146,720 6.0%9,695,523 6.0% B3 OBRA fees & OPEB study 70,000 75.0%70,000 0.0%70,000 0.0%70,000 0.0% B4 OPEB contribution 200,000 0.0%500,000 150.0%500,000 0.0%500,000 0.0% B5 Workers Compensation 326,892 4.0%339,968 4.0%353,567 4.0%367,709 4.0% B6 Unemployment Benefits 130,000 62.5%135,000 3.8%135,000 0.0%140,000 3.7% B7 Group Health / Life Ins.16,523,846 7.2%18,126,230 9.7%19,938,853 10.0%21,334,573 7.0% B8 Medicare / Social Security 1,187,320 11.9%1,217,003 2.5%1,247,428 2.5%1,278,614 2.5% B9 Police / Fire Indemnification 135,000 3.8%140,000 3.7%140,000 0.0%140,000 0.0% B99 Acc. Costs - Benefits 26,731,905$ 6.9%29,157,182$ 9.1%31,531,568$ 8.1%33,526,419$ 6.3% C99 Acc. Costs - Capital 2,961,500$ -27.7%3,750,000$ 26.6%4,742,600$ 26.5%3,659,525$ -22.8% D1 Debt Service - Principal 3,605,000 101.4%4,680,000 29.8%6,580,000 40.6%7,840,000 19.1% D2 Debt Service - Interest 4,652,735 725.7%5,597,894 20.3%5,369,894 -4.1%5,266,419 -1.9% D3 Excluded debt (5,195,837) 0.0%(7,375,194) 41.9%(9,313,694) 0.0%(9,315,194) 0.0% Total Included Debt 3,061,898$ 30.1%2,902,700$ -5.2%2,636,200$ -9.2%3,791,225$ 43.8% Premiums for general fund -$ #DIV/0!-$ #DIV/0!-$ #DIV/0!-$ #DIV/0! D99 Acc. Costs -Debt 8,257,735$ 250.9%10,277,894$ 24.5%11,949,894$ 16.3%13,106,419$ 9.7% E1 Street Lighting (DPW)135,000 0.0%135,000 0.0%140,000 3.7%140,000 0.0% E2 Electricty (FacCORE)971,600 -11.3%1,187,001 22.2%1,210,741 2.0%1,234,956 2.0% E3 Natl Gas (FacCORE)914,304 2.0%1,042,306 14.0%1,068,364 2.5%1,095,073 2.5% E4 Water/Sewer (FacCORE)240,000 4.1%255,000 6.3%261,375 2.5%267,909 2.5% E6 Fuel - vehicles (DPW)240,000 2.1%255,000 6.3%260,355 2.1%265,822 2.1% E99 Acc. Costs - Energy 2,500,904$ -3.5%2,874,307$ 14.9%2,940,835$ 2.3%3,003,760$ 2.1% F1 Casualty Ins (AD SVC)936,652 -7.4%1,060,069 13.2%1,086,570 2.5%1,113,734 2.5% F2 Vet's Assistance (PUB SVC)105,000$ -16.0%105,000$ 0.0%105,000$ 0.0%105,000$ 0.0% F3 FINCOM Reserve Fund 200,000 0.0%200,000 0.0%200,000 0.0%200,000 0.0% F99 Acc. Costs - Financial 1,241,652$ -7.1%1,365,069$ 9.9%1,391,570$ 1.9%1,418,734$ 2.0% G1 SPED transp OOD (Sch)1,341,681 7.0%1,388,640 3.5%1,437,242 3.5%1,487,546 3.5% G2a SPED tuition OOD (Sch)6,328,488 9.0%6,549,985 3.5%6,779,235 3.5%7,016,508 3.5% G2b SPED contingency 600,607 -49.5%621,628 3.5%643,385 3.5%649,819 1.0% G3 SPED offsets OOD (Sch)(2,421,948)25.1%(2,512,771)3.8%(2,600,718)3.5%(2,678,740)3.0% G99 Acc. Costs - OOD SPED 5,848,828$ -7.3%6,047,482$ 3.4%6,259,144$ 3.5%6,475,133$ 3.5% H1 Voc School - NERMVS 998,308 4.0%1,038,241 4.0%1,079,770 4.0%1,122,961 4.0% Voc School - NERMVS Capital 337,560 -0.6%347,574 3.0%336,225 -3.3%336,225 0.0% H2 Voc School - Minute Man 56,818 2.5%58,238 2.5%59,694 2.5%61,187 2.5% Voc School - Essex North 210,575 4.0%218,998 4.0%227,757 4.0%236,868 4.0% H99 Acc. Costs - Vocational 1,603,261$ 2.9%1,663,051$ 3.7%1,703,447$ 2.4%1,757,241$ 3.2% J1 Rubbish (DPW)3,068,709 39.5%3,222,144 5.0%3,383,252 5.0%3,552,414 5.0% J2 Snow and Ice Control (DPW)675,000 0.0%675,000 0.0%675,000 0.0%675,000 0.0% J3 State Assessments 897,409 2.5%919,844 2.5%942,840 2.5%966,411 2.5% Cemetery (DPW) J99 Acc. Costs - Misc.4,641,118$ 23.7%4,816,989$ 3.8%5,001,092$ 3.8%5,193,826$ 3.9% 16 3.00%-0.88%3.00%3.00% Town of Reading Budget Summary One Yr One Yr One Yr One Yr 5/19/26 5:37 PM Projected Chng Projected Chng Projected Chng Projected Chng No.FY27 FY27 FY28 FY28 FY29 FY29 FY30 FY30 Revenues A1 Total Property Taxes 98,668,153 9.2%104,034,318 5.4%109,239,296 5.0%112,588,937 3.1% A2 Total Other Local Revenues 12,791,750 10.2%13,313,674 4.1%13,720,842 3.1%13,965,095 1.8% A3 Total Intergov't Revenues 17,105,266 2.5%17,532,897 2.5%17,971,220 2.5%18,420,500 2.5% A4 Total Transfers & Available 4,407,222 2.1%4,446,117 0.9%4,539,219 2.1%4,634,595 2.1% A98 Revs before Free Cash 132,972,391$ 8.11%139,327,006$ 4.78%145,470,578$ 4.41%149,609,126$ 2.84% A5 Free Cash 6,475,000 2.7%5,000,000 -22.8%7,000,000 40.0%7,950,000 13.6% A6 Extra for Capital 0 -100%0 -100%0 -100%0 -100% A99 Net Available Revenues 139,447,391$ 7.85%144,327,006$ 3.50%152,470,578$ 5.64%157,559,126$ 3.34%Accommodated Costs B Benefits 26,731,905 6.9%29,157,182 9.1%31,531,568 8.1%33,526,419 6.3% C Capital 2,961,500 -27.7%3,750,000 26.6%4,742,600 26.5%3,659,525 -22.8% Debt (inside levy)3,061,898 30.1%2,902,700 -5.2%2,636,200 -9.2%3,791,225 43.8% D Debt (excluded)5,195,837 7,375,194 9,313,694 9,315,194 E Energy 2,500,904 -3.5%2,874,307 14.9%2,940,835 2.3%3,003,760 2.1% F Financial 1,241,652 -7.1%1,365,069 9.9%1,391,570 1.9%1,418,734 2.0% G Education - Out of district 5,848,828 -7.3%5,995,049 2.5%6,259,144 4.4%6,475,133 3.5% H Education - Vocational 1,603,261 2.9%1,663,051 3.7%1,703,447 2.4%1,757,241 3.2% J Miscellaneous 4,641,118 23.7%4,816,989 3.8%5,001,092 3.8%5,193,826 3.9% K Community Priorities 105,000 0.0%555,000 0.0%0 0.0%0 0.0% L1 Accommodated Costs 53,891,902$ 14.28%60,454,540$ 12.18%65,520,150$ 8.38%68,141,057$ 4.00% L2 Net Accommodated Costs 53,891,902$ 14.28%60,454,540$ 12.18%65,520,150$ 8.38%68,141,057$ 4.00% 1,051,280$ 6,895$ 13,890$ 2,184$ Operating Costs OC1 Municipal Gov't Operating 29,513,847 3.00%29,050,334 -0.88%30,004,244 3.00%31,347,272 3.00% adjustments (205,600) 80,000 430,000 adjustments (EF+RF)1,380,191 3.00%1,368,045 -0.88%1,409,086 3.00%1,451,359 3.00% TOTAL Muni Govt OPER 30,688,438 2.31%30,498,380 -0.62%31,843,331 4.41%32,798,631 3.00% OC2 School Operating 53,590,771 3.00%53,342,192 -0.88%54,968,208 3.00%56,617,254 2.77% adjustments 225,000 25,000 125,000 - TOTAL School OPER 53,815,771 3.43%53,367,192 -0.83%55,093,208 3.23%56,617,254 2.77% OC4 Operating Budgets 84,504,209$ 3.02%83,865,572$ -0.76%86,936,539$ 3.66%89,415,885$ 2.85% Municipal Gov't Operating 36.3%36.4%36.6%36.7% School Operating 63.7%63.6%63.4%63.3% TOTAL SPENDING 138,396,111$ 7.13%144,320,111$ 4.28%152,456,688$ 5.64%157,556,942$ 3.35%` Muni Govt OPER 30,688,438$ 2.31%30,498,380$ -0.62%31,843,331$ 4.41%32,798,631$ 3.00% Muni Govt ACCOM 7,286,265$ 10.34%8,366,520$ 14.83%8,190,657$ -2.10%8,449,909$ 3.17% Muni Govt TOTAL 37,974,702$ 3.76%38,864,899$ 2.34%40,033,987$ 3.01%41,248,540$ 3.03% School OPER 53,815,771$ 3.43%53,367,192$ -0.83%55,093,208$ 3.23%56,617,254$ 2.77% School ACCOM 5,873,828$ -6.94%6,172,482$ 5.08%6,259,144$ 1.40%6,475,133$ 3.45% School TOTAL 59,689,599$ 2.31%59,539,674$ -0.25%61,352,352$ 3.04%63,092,387$ 2.84% 17 A Town of Reading One Yr One Yr One Yr One Yr Revenues - Details Projected Chng Projected Chng Projected Chng Projected Chng No.5/19/26 5:37 PM FY27 FY26 FY28 FY28 FY29 FY29 FY30 FY29 Property Taxes Tax levy (within levy limit)93,429,010 3.4%96,615,485 3.4%99,902,122 3.4%103,270,925 3.4% New Growth 830,000 -0.6%850,000 2.4%850,000 0.0%850,000 0.0% Tax levy (debt exclusion)5,195,837 7,375,194 41.9%9,313,694 26.3%9,315,194 0.0% Abatements and exemptions (786,693)2.5%(806,361)2.5%(826,520)2.5%(847,183)2.5% A1 Total Property Taxes 98,668,153 9.2%104,034,318 5.4%109,239,296 5.0%112,588,937 3.1% Other Local Revenues Motor Vehicle Excise 4,750,000 5.2%5,015,000 5.6%5,285,000 5.4%5,550,000 5.0% Meals and Room Tax 706,000 5.1%745,000 5.5%765,000 2.7%787,950 3.0% Penalties/interest on taxes 405,600 4.0%421,824 4.0%438,697 4.0%456,245 4.0% Payments in lieu of taxes 495,000 3.6%509,850 3.0%525,146 3.0%540,900 3.0% Charges for services 2,705,150 7.2%2,870,000 6.1%3,022,000 5.3%3,100,000 2.6% Licenses & permits 175,000 5.7%182,000 4.0%190,000 4.4%195,000 2.6% Fines 90,000 5.9%95,000 5.6%100,000 5.3%105,000 5.0% Interest Earnings 3,295,000 24.3%3,300,000 0.2%3,220,000 -2.4%3,050,000 -5.3% Medicaid Reimbursement 170,000 30.8%175,000 2.9%175,000 0.0%180,000 2.9% A2 Total Other Local Revenues 12,791,750 10.2%13,313,674 4.1%13,720,842 3.1%13,965,095 1.8% Intergovernmental Revenue State Aid 17,105,266 2.5%17,532,897 2.5%17,971,220 2.5%18,420,500 2.5% A3 Total Intergov't Revenues 17,105,266 2.5%17,532,897 2.5%17,971,220 2.5%18,420,500 2.5% Operating Transfers and Available Funds Cemetery sale of lots 25,000 0.0%25,000 0.0%25,000 0.0%25,000 0.0% RMLD payment 2,552,031 2.0%2,603,071 2.0%2,655,133 2.0%2,708,236 2.0% Enterprise Fund Support 1,380,191 3.0%1,368,045 -0.9%1,409,086 3.0%1,451,359 3.0% School Revolving Funds 100,000 0.0%100,000 0.0%100,000 0.0%100,000 0.0% Premiums Reserve for Debt 0 #DIV/0!0 #DIV/0!0 #DIV/0!0 #DIV/0! Overlay surplus 350,000 0.0%350,000 0.0%350,000 0.0%350,000 0.0% A4 Total Transfers & Available 4,407,222 2.1%4,446,117 0.9%4,539,219 2.1%4,634,595 2.1% OPERATING REVENUES 132,972,391 8.11%139,327,006 4.78%145,470,578 4.41%149,609,126 2.84% A5 Free Cash 6,475,000 2.7%5,000,000 -22.8%7,000,000 40.0%7,950,000 13.6% TOTAL REVENUES 139,447,391 7.85%144,327,006 3.50%152,470,578 5.64%157,559,126 3.34% Town of Reading Acc. Costs - Summary One Yr One Yr One Yr One Yr 5/19/26 5:37 PM Projected Chng Projected Chng Projected Chng Projected Chng No.FY27 FY27 FY28 FY28 FY29 FY28 FY30 FY28 B Benefits 26,731,905 6.9%29,157,182 9.1%31,531,568 8.1%33,526,419 6.3% C Capital 2,961,500 3,750,000 4,742,600 3,659,525 Debt (inside levy)3,061,898 -6.6%2,902,700 10.4%2,636,200 10.9%3,791,225 1.0% D Debt (excluded)5,195,837 7,375,194 41.9%9,313,694 26.3%9,315,194 E Energy 2,500,904 -3.5%2,874,307 14.9%2,940,835 2.3%3,003,760 2.1% F Financial 1,241,652 -7.1%1,365,069 9.9%1,391,570 1.9%1,418,734 2.0% G Education - Out of district 5,848,828 -7.3%5,995,049 2.5%6,259,144 4.4%6,475,133 3.5% H Education - Vocational 1,603,261 2.9%1,663,051 3.7%1,703,447 2.4%1,757,241 3.2% J Miscellaneous 4,641,118 23.7%4,816,989 3.8%5,001,092 3.8%5,193,826 3.9% K Community Priorities 105,000$ 555,000 TOTAL Accomm. COSTS 53,891,902$ 14.3%60,454,540$ 12.2%65,520,150$ 8.4%68,141,057$ #DIV/0! 18 Town of Reading One Yr One Yr One Yr One Yr Acc. Costs - Details Projected Chng Projected Chng Projected Chng Projected Chng B FY27 FY27 FY28 FY28 FY29 FY29 FY30 FY30 B1 Contributory Retirement 8,158,847 5.0%8,628,981 5.8%9,146,720 6.0%9,695,523 6.0% B3 OBRA fees & OPEB study 70,000 75.0%70,000 0.0%70,000 0.0%70,000 0.0% B4 OPEB contribution 200,000 0.0%500,000 150.0%500,000 0.0%500,000 0.0% B5 Workers Compensation 326,892 4.0%339,968 4.0%353,567 4.0%367,709 4.0% B6 Unemployment Benefits 130,000 62.5%135,000 3.8%135,000 0.0%140,000 3.7% B7 Group Health / Life Ins.16,523,846 7.2%18,126,230 9.7%19,938,853 10.0%21,334,573 7.0% B8 Medicare / Social Security 1,187,320 11.9%1,217,003 2.5%1,247,428 2.5%1,278,614 2.5% B9 Police / Fire Indemnification 135,000 3.8%140,000 3.7%140,000 0.0%140,000 0.0% B99 Acc. Costs - Benefits 26,731,905$ 6.9%29,157,182$ 9.1%31,531,568$ 8.1%33,526,419$ 6.3% C99 Acc. Costs - Capital 2,961,500$ -27.7%3,750,000$ 26.6%4,742,600$ 26.5%3,659,525$ -22.8% D1 Debt Service - Principal 3,605,000 101.4%4,680,000 29.8%6,580,000 40.6%7,840,000 19.1% D2 Debt Service - Interest 4,652,735 725.7%5,597,894 20.3%5,369,894 -4.1%5,266,419 -1.9% D3 Excluded debt (5,195,837) 0.0%(7,375,194) 41.9%(9,313,694) 0.0%(9,315,194) 0.0% Total Included Debt 3,061,898$ 30.1%2,902,700$ -5.2%2,636,200$ -9.2%3,791,225$ 43.8% Premiums for general fund -$ #DIV/0!-$ #DIV/0!-$ #DIV/0!-$ #DIV/0! D99 Acc. Costs -Debt 8,257,735$ 250.9%10,277,894$ 24.5%11,949,894$ 16.3%13,106,419$ 9.7% E1 Street Lighting (DPW)135,000 0.0%135,000 0.0%140,000 3.7%140,000 0.0% E2 Electricty (FacCORE)971,600 -11.3%1,187,001 22.2%1,210,741 2.0%1,234,956 2.0% E3 Natl Gas (FacCORE)914,304 2.0%1,042,306 14.0%1,068,364 2.5%1,095,073 2.5% E4 Water/Sewer (FacCORE)240,000 4.1%255,000 6.3%261,375 2.5%267,909 2.5% E6 Fuel - vehicles (DPW)240,000 2.1%255,000 6.3%260,355 2.1%265,822 2.1% E99 Acc. Costs - Energy 2,500,904$ -3.5%2,874,307$ 14.9%2,940,835$ 2.3%3,003,760$ 2.1% F1 Casualty Ins (AD SVC)936,652 -7.4%1,060,069 13.2%1,086,570 2.5%1,113,734 2.5% F2 Vet's Assistance (PUB SVC)105,000$ -16.0%105,000$ 0.0%105,000$ 0.0%105,000$ 0.0% F3 FINCOM Reserve Fund 200,000 0.0%200,000 0.0%200,000 0.0%200,000 0.0% F99 Acc. Costs - Financial 1,241,652$ -7.1%1,365,069$ 9.9%1,391,570$ 1.9%1,418,734$ 2.0% G1 SPED transp OOD (Sch)1,341,681 7.0%1,388,640 3.5%1,437,242 3.5%1,487,546 3.5% G2a SPED tuition OOD (Sch)6,328,488 9.0%6,549,985 3.5%6,779,235 3.5%7,016,508 3.5% G2b SPED contingency 600,607 -49.5%621,628 3.5%643,385 3.5%649,819 1.0% G3 SPED offsets OOD (Sch)(2,421,948)25.1%(2,512,771)3.8%(2,600,718)3.5%(2,678,740)3.0% G99 Acc. Costs - OOD SPED 5,848,828$ -7.3%6,047,482$ 3.4%6,259,144$ 3.5%6,475,133$ 3.5% H1 Voc School - NERMVS 998,308 4.0%1,038,241 4.0%1,079,770 4.0%1,122,961 4.0% Voc School - NERMVS Capital 337,560 -0.6%347,574 3.0%336,225 -3.3%336,225 0.0% H2 Voc School - Minute Man 56,818 2.5%58,238 2.5%59,694 2.5%61,187 2.5% Voc School - Essex North 210,575 4.0%218,998 4.0%227,757 4.0%236,868 4.0% H99 Acc. Costs - Vocational 1,603,261$ 2.9%1,663,051$ 3.7%1,703,447$ 2.4%1,757,241$ 3.2% J1 Rubbish (DPW)3,068,709 39.5%3,222,144 5.0%3,383,252 5.0%3,552,414 5.0% J2 Snow and Ice Control (DPW)675,000 0.0%675,000 0.0%675,000 0.0%675,000 0.0% J3 State Assessments 897,409 2.5%919,844 2.5%942,840 2.5%966,411 2.5% Cemetery (DPW) J99 Acc. Costs - Misc.4,641,118$ 23.7%4,816,989$ 3.8%5,001,092$ 3.8%5,193,826$ 3.9% 19 3.00%-2.10%3.00%3.00% Town of Reading Budget Summary One Yr One Yr One Yr One Yr 5/19/26 5:37 PM Projected Chng Projected Chng Projected Chng Projected Chng No.FY27 FY27 FY28 FY28 FY29 FY29 FY30 FY30 Revenues A1 Total Property Taxes 98,668,153 9.2%104,034,318 5.4%109,239,296 5.0%112,588,937 3.1% A2 Total Other Local Revenues 12,791,750 10.2%13,313,674 4.1%13,720,842 3.1%13,965,095 1.8% A3 Total Intergov't Revenues 17,105,266 2.5%17,532,897 2.5%17,971,220 2.5%18,420,500 2.5% A4 Total Transfers & Available 4,407,222 2.1%4,429,278 0.5%4,521,876 2.1%4,616,731 2.1% A98 Revs before Free Cash 132,972,391$ 8.11%139,310,168$ 4.77%145,453,234$ 4.41%149,591,262$ 2.84% A5 Free Cash 6,475,000 2.7%4,000,000 -38.2%6,000,000 50.0%6,900,000 15.0% A6 Extra for Capital 0 -100%0 -100%0 -100%0 -100% A99 Net Available Revenues 139,447,391$ 7.85%143,310,168$ 2.77%151,453,234$ 5.68%156,491,262$ 3.33%Accommodated Costs B Benefits 26,731,905 6.9%29,157,182 9.1%31,531,568 8.1%33,526,419 6.3% C Capital 2,961,500 -27.7%3,750,000 26.6%4,742,600 26.5%3,659,525 -22.8% Debt (inside levy)3,061,898 30.1%2,902,700 -5.2%2,636,200 -9.2%3,791,225 43.8% D Debt (excluded)5,195,837 7,375,194 9,313,694 9,315,194 E Energy 2,500,904 -3.5%2,874,307 14.9%2,940,835 2.3%3,003,760 2.1% F Financial 1,241,652 -7.1%1,365,069 9.9%1,391,570 1.9%1,418,734 2.0% G Education - Out of district 5,848,828 -7.3%5,995,049 2.5%6,259,144 4.4%6,475,133 3.5% H Education - Vocational 1,603,261 2.9%1,663,051 3.7%1,703,447 2.4%1,757,241 3.2% J Miscellaneous 4,641,118 23.7%4,816,989 3.8%5,001,092 3.8%5,193,826 3.9% K Community Priorities 105,000 0.0%555,000 0.0%0 0.0%0 0.0% L1 Accommodated Costs 53,891,902$ 14.28%60,454,540$ 12.18%65,520,150$ 8.38%68,141,057$ 4.00% L2 Net Accommodated Costs 53,891,902$ 14.28%60,454,540$ 12.18%65,520,150$ 8.38%68,141,057$ 4.00% 1,051,280$ 21,008$ 58,426$ 28,057$ Operating Costs OC1 Municipal Gov't Operating 29,513,847 3.00%28,692,774 -2.10%29,635,957 3.00%30,967,936 3.00% adjustments (205,600) 80,000 430,000 adjustments (EF+RF)1,380,191 3.00%1,351,207 -2.10%1,391,743 3.00%1,433,495 3.00% TOTAL Muni Govt OPER 30,688,438 2.31%30,123,981 -1.84%31,457,700 4.43%32,401,431 3.00% OC2 School Operating 53,590,771 3.00%52,685,640 -2.10%54,291,959 3.00%55,920,718 2.76% adjustments 225,000 25,000 125,000 - TOTAL School OPER 53,815,771 3.43%52,710,640 -2.05%54,416,959 3.24%55,920,718 2.76% OC4 Operating Budgets 84,504,209$ 3.02%82,834,620$ -1.98%85,874,659$ 3.67%88,322,149$ 2.85% Municipal Gov't Operating 36.3%36.4%36.6%36.7% School Operating 63.7%63.6%63.4%63.3% TOTAL SPENDING 138,396,111$ 7.13%143,289,160$ 3.54%151,394,809$ 5.66%156,463,206$ 3.35%` Muni Govt OPER 30,688,438$ 2.31%30,123,981$ -1.84%31,457,700$ 4.43%32,401,431$ 3.00% Muni Govt ACCOM 7,286,265$ 10.34%8,366,520$ 14.83%8,190,657$ -2.10%8,449,909$ 3.17% Muni Govt TOTAL 37,974,702$ 3.76%38,490,501$ 1.36%39,648,357$ 3.01%40,851,340$ 3.03% School OPER 53,815,771$ 3.43%52,710,640$ -2.05%54,416,959$ 3.24%55,920,718$ 2.76% School ACCOM 5,873,828$ -6.94%6,172,482$ 5.08%6,259,144$ 1.40%6,475,133$ 3.45% School TOTAL 59,689,599$ 2.31%58,883,122$ -1.35%60,676,103$ 3.04%62,395,851$ 2.83% 20 A Town of Reading One Yr One Yr One Yr One Yr Revenues - Details Projected Chng Projected Chng Projected Chng Projected Chng No.5/19/26 5:37 PM FY27 FY26 FY28 FY28 FY29 FY29 FY30 FY29 Property Taxes Tax levy (within levy limit)93,429,010 3.4%96,615,485 3.4%99,902,122 3.4%103,270,925 3.4% New Growth 830,000 -0.6%850,000 2.4%850,000 0.0%850,000 0.0% Tax levy (debt exclusion)5,195,837 7,375,194 41.9%9,313,694 26.3%9,315,194 0.0% Abatements and exemptions (786,693)2.5%(806,361)2.5%(826,520)2.5%(847,183)2.5% A1 Total Property Taxes 98,668,153 9.2%104,034,318 5.4%109,239,296 5.0%112,588,937 3.1% Other Local Revenues Motor Vehicle Excise 4,750,000 5.2%5,015,000 5.6%5,285,000 5.4%5,550,000 5.0% Meals and Room Tax 706,000 5.1%745,000 5.5%765,000 2.7%787,950 3.0% Penalties/interest on taxes 405,600 4.0%421,824 4.0%438,697 4.0%456,245 4.0% Payments in lieu of taxes 495,000 3.6%509,850 3.0%525,146 3.0%540,900 3.0% Charges for services 2,705,150 7.2%2,870,000 6.1%3,022,000 5.3%3,100,000 2.6% Licenses & permits 175,000 5.7%182,000 4.0%190,000 4.4%195,000 2.6% Fines 90,000 5.9%95,000 5.6%100,000 5.3%105,000 5.0% Interest Earnings 3,295,000 24.3%3,300,000 0.2%3,220,000 -2.4%3,050,000 -5.3% Medicaid Reimbursement 170,000 30.8%175,000 2.9%175,000 0.0%180,000 2.9% A2 Total Other Local Revenues 12,791,750 10.2%13,313,674 4.1%13,720,842 3.1%13,965,095 1.8% Intergovernmental Revenue State Aid 17,105,266 2.5%17,532,897 2.5%17,971,220 2.5%18,420,500 2.5% A3 Total Intergov't Revenues 17,105,266 2.5%17,532,897 2.5%17,971,220 2.5%18,420,500 2.5% Operating Transfers and Available Funds Cemetery sale of lots 25,000 0.0%25,000 0.0%25,000 0.0%25,000 0.0% RMLD payment 2,552,031 2.0%2,603,071 2.0%2,655,133 2.0%2,708,236 2.0% Enterprise Fund Support 1,380,191 3.0%1,351,207 -2.1%1,391,743 3.0%1,433,495 3.0% School Revolving Funds 100,000 0.0%100,000 0.0%100,000 0.0%100,000 0.0% Premiums Reserve for Debt 0 #DIV/0!0 #DIV/0!0 #DIV/0!0 #DIV/0! Overlay surplus 350,000 0.0%350,000 0.0%350,000 0.0%350,000 0.0% A4 Total Transfers & Available 4,407,222 2.1%4,429,278 0.5%4,521,876 2.1%4,616,731 2.1% OPERATING REVENUES 132,972,391 8.11%139,310,168 4.77%145,453,234 4.41%149,591,262 2.84% A5 Free Cash 6,475,000 2.7%4,000,000 -38.2%6,000,000 50.0%6,900,000 15.0% TOTAL REVENUES 139,447,391 7.85%143,310,168 2.77%151,453,234 5.68%156,491,262 3.33% Town of Reading Acc. Costs - Summary One Yr One Yr One Yr One Yr 5/19/26 5:37 PM Projected Chng Projected Chng Projected Chng Projected Chng No.FY27 FY27 FY28 FY28 FY29 FY28 FY30 FY28 B Benefits 26,731,905 6.9%29,157,182 9.1%31,531,568 8.1%33,526,419 6.3% C Capital 2,961,500 3,750,000 4,742,600 3,659,525 Debt (inside levy)3,061,898 -6.6%2,902,700 10.4%2,636,200 10.9%3,791,225 1.0% D Debt (excluded)5,195,837 7,375,194 41.9%9,313,694 26.3%9,315,194 E Energy 2,500,904 -3.5%2,874,307 14.9%2,940,835 2.3%3,003,760 2.1% F Financial 1,241,652 -7.1%1,365,069 9.9%1,391,570 1.9%1,418,734 2.0% G Education - Out of district 5,848,828 -7.3%5,995,049 2.5%6,259,144 4.4%6,475,133 3.5% H Education - Vocational 1,603,261 2.9%1,663,051 3.7%1,703,447 2.4%1,757,241 3.2% J Miscellaneous 4,641,118 23.7%4,816,989 3.8%5,001,092 3.8%5,193,826 3.9% K Community Priorities 105,000$ 555,000 TOTAL Accomm. COSTS 53,891,902$ 14.3%60,454,540$ 12.2%65,520,150$ 8.4%68,141,057$ #DIV/0! 21 Town of Reading One Yr One Yr One Yr One Yr Acc. Costs - Details Projected Chng Projected Chng Projected Chng Projected Chng B FY27 FY27 FY28 FY28 FY29 FY29 FY30 FY30 B1 Contributory Retirement 8,158,847 5.0%8,628,981 5.8%9,146,720 6.0%9,695,523 6.0% B3 OBRA fees & OPEB study 70,000 75.0%70,000 0.0%70,000 0.0%70,000 0.0% B4 OPEB contribution 200,000 0.0%500,000 150.0%500,000 0.0%500,000 0.0% B5 Workers Compensation 326,892 4.0%339,968 4.0%353,567 4.0%367,709 4.0% B6 Unemployment Benefits 130,000 62.5%135,000 3.8%135,000 0.0%140,000 3.7% B7 Group Health / Life Ins.16,523,846 7.2%18,126,230 9.7%19,938,853 10.0%21,334,573 7.0% B8 Medicare / Social Security 1,187,320 11.9%1,217,003 2.5%1,247,428 2.5%1,278,614 2.5% B9 Police / Fire Indemnification 135,000 3.8%140,000 3.7%140,000 0.0%140,000 0.0% B99 Acc. Costs - Benefits 26,731,905$ 6.9%29,157,182$ 9.1%31,531,568$ 8.1%33,526,419$ 6.3% C99 Acc. Costs - Capital 2,961,500$ -27.7%3,750,000$ 26.6%4,742,600$ 26.5%3,659,525$ -22.8% D1 Debt Service - Principal 3,605,000 101.4%4,680,000 29.8%6,580,000 40.6%7,840,000 19.1% D2 Debt Service - Interest 4,652,735 725.7%5,597,894 20.3%5,369,894 -4.1%5,266,419 -1.9% D3 Excluded debt (5,195,837) 0.0%(7,375,194) 41.9%(9,313,694) 0.0%(9,315,194) 0.0% Total Included Debt 3,061,898$ 30.1%2,902,700$ -5.2%2,636,200$ -9.2%3,791,225$ 43.8% Premiums for general fund -$ #DIV/0!-$ #DIV/0!-$ #DIV/0!-$ #DIV/0! D99 Acc. Costs -Debt 8,257,735$ 250.9%10,277,894$ 24.5%11,949,894$ 16.3%13,106,419$ 9.7% E1 Street Lighting (DPW)135,000 0.0%135,000 0.0%140,000 3.7%140,000 0.0% E2 Electricty (FacCORE)971,600 -11.3%1,187,001 22.2%1,210,741 2.0%1,234,956 2.0% E3 Natl Gas (FacCORE)914,304 2.0%1,042,306 14.0%1,068,364 2.5%1,095,073 2.5% E4 Water/Sewer (FacCORE)240,000 4.1%255,000 6.3%261,375 2.5%267,909 2.5% E6 Fuel - vehicles (DPW)240,000 2.1%255,000 6.3%260,355 2.1%265,822 2.1% E99 Acc. Costs - Energy 2,500,904$ -3.5%2,874,307$ 14.9%2,940,835$ 2.3%3,003,760$ 2.1% F1 Casualty Ins (AD SVC)936,652 -7.4%1,060,069 13.2%1,086,570 2.5%1,113,734 2.5% F2 Vet's Assistance (PUB SVC)105,000$ -16.0%105,000$ 0.0%105,000$ 0.0%105,000$ 0.0% F3 FINCOM Reserve Fund 200,000 0.0%200,000 0.0%200,000 0.0%200,000 0.0% F99 Acc. Costs - Financial 1,241,652$ -7.1%1,365,069$ 9.9%1,391,570$ 1.9%1,418,734$ 2.0% G1 SPED transp OOD (Sch)1,341,681 7.0%1,388,640 3.5%1,437,242 3.5%1,487,546 3.5% G2a SPED tuition OOD (Sch)6,328,488 9.0%6,549,985 3.5%6,779,235 3.5%7,016,508 3.5% G2b SPED contingency 600,607 -49.5%621,628 3.5%643,385 3.5%649,819 1.0% G3 SPED offsets OOD (Sch)(2,421,948)25.1%(2,512,771)3.8%(2,600,718)3.5%(2,678,740)3.0% G99 Acc. Costs - OOD SPED 5,848,828$ -7.3%6,047,482$ 3.4%6,259,144$ 3.5%6,475,133$ 3.5% H1 Voc School - NERMVS 998,308 4.0%1,038,241 4.0%1,079,770 4.0%1,122,961 4.0% Voc School - NERMVS Capital 337,560 -0.6%347,574 3.0%336,225 -3.3%336,225 0.0% H2 Voc School - Minute Man 56,818 2.5%58,238 2.5%59,694 2.5%61,187 2.5% Voc School - Essex North 210,575 4.0%218,998 4.0%227,757 4.0%236,868 4.0% H99 Acc. Costs - Vocational 1,603,261$ 2.9%1,663,051$ 3.7%1,703,447$ 2.4%1,757,241$ 3.2% J1 Rubbish (DPW)3,068,709 39.5%3,222,144 5.0%3,383,252 5.0%3,552,414 5.0% J2 Snow and Ice Control (DPW)675,000 0.0%675,000 0.0%675,000 0.0%675,000 0.0% J3 State Assessments 897,409 2.5%919,844 2.5%942,840 2.5%966,411 2.5% Cemetery (DPW) J99 Acc. Costs - Misc.4,641,118$ 23.7%4,816,989$ 3.8%5,001,092$ 3.8%5,193,826$ 3.9% 22 3.00%-3.28%3.00%3.00% Town of Reading Budget Summary One Yr One Yr One Yr One Yr 5/19/26 5:37 PM Projected Chng Projected Chng Projected Chng Projected Chng No.FY27 FY27 FY28 FY28 FY29 FY29 FY30 FY30 Revenues A1 Total Property Taxes 98,668,153 9.2%104,034,318 5.4%109,239,296 5.0%112,588,937 3.1% A2 Total Other Local Revenues 12,791,750 10.2%13,313,674 4.1%13,720,842 3.1%13,965,095 1.8% A3 Total Intergov't Revenues 17,105,266 2.5%17,532,897 2.5%17,971,220 2.5%18,420,500 2.5% A4 Total Transfers & Available 4,407,222 2.1%4,412,992 0.1%4,505,101 2.1%4,599,453 2.1% A98 Revs before Free Cash 132,972,391$ 8.11%139,293,882$ 4.75%145,436,460$ 4.41%149,573,984$ 2.84% A5 Free Cash 6,475,000 2.7%3,000,000 -53.7%4,950,000 65.0%5,850,000 18.2% A6 Extra for Capital 0 -100%0 -100%0 -100%0 -100% A99 Net Available Revenues 139,447,391$ 7.85%142,293,882$ 2.04%150,386,460$ 5.69%155,423,984$ 3.35%Accommodated Costs B Benefits 26,731,905 6.9%29,157,182 9.1%31,531,568 8.1%33,526,419 6.3% C Capital 2,961,500 -27.7%3,750,000 26.6%4,742,600 26.5%3,659,525 -22.8% Debt (inside levy)3,061,898 30.1%2,902,700 -5.2%2,636,200 -9.2%3,791,225 43.8% D Debt (excluded)5,195,837 7,375,194 9,313,694 9,315,194 E Energy 2,500,904 -3.5%2,874,307 14.9%2,940,835 2.3%3,003,760 2.1% F Financial 1,241,652 -7.1%1,365,069 9.9%1,391,570 1.9%1,418,734 2.0% G Education - Out of district 5,848,828 -7.3%5,995,049 2.5%6,259,144 4.4%6,475,133 3.5% H Education - Vocational 1,603,261 2.9%1,663,051 3.7%1,703,447 2.4%1,757,241 3.2% J Miscellaneous 4,641,118 23.7%4,816,989 3.8%5,001,092 3.8%5,193,826 3.9% K Community Priorities 105,000 0.0%555,000 0.0%0 0.0%0 0.0% L1 Accommodated Costs 53,891,902$ 14.28%60,454,540$ 12.18%65,520,150$ 8.38%68,141,057$ 4.00% L2 Net Accommodated Costs 53,891,902$ 14.28%60,454,540$ 12.18%65,520,150$ 8.38%68,141,057$ 4.00% 1,051,280$ 1,871$ 18,715$ 18,655$ Operating Costs OC1 Municipal Gov't Operating 29,513,847 3.00%28,346,936 -3.28%29,279,745 3.00%30,601,037 3.00% adjustments (205,600) 80,000 430,000 adjustments (EF+RF)1,380,191 3.00%1,334,921 -3.28%1,374,968 3.00%1,416,217 3.00% TOTAL Muni Govt OPER 30,688,438 2.31%29,761,857 -3.02%31,084,713 4.44%32,017,254 3.00% OC2 School Operating 53,590,771 3.00%52,050,614 -3.28%53,637,882 3.00%55,247,018 2.76% adjustments 225,000 25,000 125,000 - TOTAL School OPER 53,815,771 3.43%52,075,614 -3.23%53,762,882 3.24%55,247,018 2.76% OC4 Operating Budgets 84,504,209$ 3.02%81,837,471$ -3.16%84,847,595$ 3.68%87,264,273$ 2.85% Municipal Gov't Operating 36.3%36.4%36.6%36.7% School Operating 63.7%63.6%63.4%63.3% TOTAL SPENDING 138,396,111$ 7.13%142,292,010$ 2.82%150,367,744$ 5.68%155,405,330$ 3.35%` Muni Govt OPER 30,688,438$ 2.31%29,761,857$ -3.02%31,084,713$ 4.44%32,017,254$ 3.00% Muni Govt ACCOM 7,286,265$ 10.34%8,366,520$ 14.83%8,190,657$ -2.10%8,449,909$ 3.17% Muni Govt TOTAL 37,974,702$ 3.76%38,128,377$ 0.40%39,275,369$ 3.01%40,467,163$ 3.03% School OPER 53,815,771$ 3.43%52,075,614$ -3.23%53,762,882$ 3.24%55,247,018$ 2.76% School ACCOM 5,873,828$ -6.94%6,172,482$ 5.08%6,259,144$ 1.40%6,475,133$ 3.45% School TOTAL 59,689,599$ 2.31%58,248,096$ -2.41%60,022,026$ 3.05%61,722,151$ 2.83% 23 A Town of Reading One Yr One Yr One Yr One Yr Revenues - Details Projected Chng Projected Chng Projected Chng Projected Chng No.5/19/26 5:37 PM FY27 FY26 FY28 FY28 FY29 FY29 FY30 FY29 Property Taxes Tax levy (within levy limit)93,429,010 3.4%96,615,485 3.4%99,902,122 3.4%103,270,925 3.4% New Growth 830,000 -0.6%850,000 2.4%850,000 0.0%850,000 0.0% Tax levy (debt exclusion)5,195,837 7,375,194 41.9%9,313,694 26.3%9,315,194 0.0% Abatements and exemptions (786,693)2.5%(806,361)2.5%(826,520)2.5%(847,183)2.5% A1 Total Property Taxes 98,668,153 9.2%104,034,318 5.4%109,239,296 5.0%112,588,937 3.1% Other Local Revenues Motor Vehicle Excise 4,750,000 5.2%5,015,000 5.6%5,285,000 5.4%5,550,000 5.0% Meals and Room Tax 706,000 5.1%745,000 5.5%765,000 2.7%787,950 3.0% Penalties/interest on taxes 405,600 4.0%421,824 4.0%438,697 4.0%456,245 4.0% Payments in lieu of taxes 495,000 3.6%509,850 3.0%525,146 3.0%540,900 3.0% Charges for services 2,705,150 7.2%2,870,000 6.1%3,022,000 5.3%3,100,000 2.6% Licenses & permits 175,000 5.7%182,000 4.0%190,000 4.4%195,000 2.6% Fines 90,000 5.9%95,000 5.6%100,000 5.3%105,000 5.0% Interest Earnings 3,295,000 24.3%3,300,000 0.2%3,220,000 -2.4%3,050,000 -5.3% Medicaid Reimbursement 170,000 30.8%175,000 2.9%175,000 0.0%180,000 2.9% A2 Total Other Local Revenues 12,791,750 10.2%13,313,674 4.1%13,720,842 3.1%13,965,095 1.8% Intergovernmental Revenue State Aid 17,105,266 2.5%17,532,897 2.5%17,971,220 2.5%18,420,500 2.5% A3 Total Intergov't Revenues 17,105,266 2.5%17,532,897 2.5%17,971,220 2.5%18,420,500 2.5% Operating Transfers and Available Funds Cemetery sale of lots 25,000 0.0%25,000 0.0%25,000 0.0%25,000 0.0% RMLD payment 2,552,031 2.0%2,603,071 2.0%2,655,133 2.0%2,708,236 2.0% Enterprise Fund Support 1,380,191 3.0%1,334,921 -3.3%1,374,968 3.0%1,416,217 3.0% School Revolving Funds 100,000 0.0%100,000 0.0%100,000 0.0%100,000 0.0% Premiums Reserve for Debt 0 #DIV/0!0 #DIV/0!0 #DIV/0!0 #DIV/0! Overlay surplus 350,000 0.0%350,000 0.0%350,000 0.0%350,000 0.0% A4 Total Transfers & Available 4,407,222 2.1%4,412,992 0.1%4,505,101 2.1%4,599,453 2.1% OPERATING REVENUES 132,972,391 8.11%139,293,882 4.75%145,436,460 4.41%149,573,984 2.84% A5 Free Cash 6,475,000 2.7%3,000,000 -53.7%4,950,000 65.0%5,850,000 18.2% TOTAL REVENUES 139,447,391 7.85%142,293,882 2.04%150,386,460 5.69%155,423,984 3.35% Town of Reading Acc. Costs - Summary One Yr One Yr One Yr One Yr 5/19/26 5:37 PM Projected Chng Projected Chng Projected Chng Projected Chng No.FY27 FY27 FY28 FY28 FY29 FY28 FY30 FY28 B Benefits 26,731,905 6.9%29,157,182 9.1%31,531,568 8.1%33,526,419 6.3% C Capital 2,961,500 3,750,000 4,742,600 3,659,525 Debt (inside levy)3,061,898 -6.6%2,902,700 10.4%2,636,200 10.9%3,791,225 1.0% D Debt (excluded)5,195,837 7,375,194 41.9%9,313,694 26.3%9,315,194 E Energy 2,500,904 -3.5%2,874,307 14.9%2,940,835 2.3%3,003,760 2.1% F Financial 1,241,652 -7.1%1,365,069 9.9%1,391,570 1.9%1,418,734 2.0% G Education - Out of district 5,848,828 -7.3%5,995,049 2.5%6,259,144 4.4%6,475,133 3.5% H Education - Vocational 1,603,261 2.9%1,663,051 3.7%1,703,447 2.4%1,757,241 3.2% J Miscellaneous 4,641,118 23.7%4,816,989 3.8%5,001,092 3.8%5,193,826 3.9% K Community Priorities 105,000$ 555,000 TOTAL Accomm. COSTS 53,891,902$ 14.3%60,454,540$ 12.2%65,520,150$ 8.4%68,141,057$ #DIV/0! 24 Town of Reading One Yr One Yr One Yr One Yr Acc. Costs - Details Projected Chng Projected Chng Projected Chng Projected Chng B FY27 FY27 FY28 FY28 FY29 FY29 FY30 FY30 B1 Contributory Retirement 8,158,847 5.0%8,628,981 5.8%9,146,720 6.0%9,695,523 6.0% B3 OBRA fees & OPEB study 70,000 75.0%70,000 0.0%70,000 0.0%70,000 0.0% B4 OPEB contribution 200,000 0.0%500,000 150.0%500,000 0.0%500,000 0.0% B5 Workers Compensation 326,892 4.0%339,968 4.0%353,567 4.0%367,709 4.0% B6 Unemployment Benefits 130,000 62.5%135,000 3.8%135,000 0.0%140,000 3.7% B7 Group Health / Life Ins.16,523,846 7.2%18,126,230 9.7%19,938,853 10.0%21,334,573 7.0% B8 Medicare / Social Security 1,187,320 11.9%1,217,003 2.5%1,247,428 2.5%1,278,614 2.5% B9 Police / Fire Indemnification 135,000 3.8%140,000 3.7%140,000 0.0%140,000 0.0% B99 Acc. Costs - Benefits 26,731,905$ 6.9%29,157,182$ 9.1%31,531,568$ 8.1%33,526,419$ 6.3% C99 Acc. Costs - Capital 2,961,500$ -27.7%3,750,000$ 26.6%4,742,600$ 26.5%3,659,525$ -22.8% D1 Debt Service - Principal 3,605,000 101.4%4,680,000 29.8%6,580,000 40.6%7,840,000 19.1% D2 Debt Service - Interest 4,652,735 725.7%5,597,894 20.3%5,369,894 -4.1%5,266,419 -1.9% D3 Excluded debt (5,195,837) 0.0%(7,375,194) 41.9%(9,313,694) 0.0%(9,315,194) 0.0% Total Included Debt 3,061,898$ 30.1%2,902,700$ -5.2%2,636,200$ -9.2%3,791,225$ 43.8% Premiums for general fund -$ #DIV/0!-$ #DIV/0!-$ #DIV/0!-$ #DIV/0! D99 Acc. Costs -Debt 8,257,735$ 250.9%10,277,894$ 24.5%11,949,894$ 16.3%13,106,419$ 9.7% E1 Street Lighting (DPW)135,000 0.0%135,000 0.0%140,000 3.7%140,000 0.0% E2 Electricty (FacCORE)971,600 -11.3%1,187,001 22.2%1,210,741 2.0%1,234,956 2.0% E3 Natl Gas (FacCORE)914,304 2.0%1,042,306 14.0%1,068,364 2.5%1,095,073 2.5% E4 Water/Sewer (FacCORE)240,000 4.1%255,000 6.3%261,375 2.5%267,909 2.5% E6 Fuel - vehicles (DPW)240,000 2.1%255,000 6.3%260,355 2.1%265,822 2.1% E99 Acc. Costs - Energy 2,500,904$ -3.5%2,874,307$ 14.9%2,940,835$ 2.3%3,003,760$ 2.1% F1 Casualty Ins (AD SVC)936,652 -7.4%1,060,069 13.2%1,086,570 2.5%1,113,734 2.5% F2 Vet's Assistance (PUB SVC)105,000$ -16.0%105,000$ 0.0%105,000$ 0.0%105,000$ 0.0% F3 FINCOM Reserve Fund 200,000 0.0%200,000 0.0%200,000 0.0%200,000 0.0% F99 Acc. Costs - Financial 1,241,652$ -7.1%1,365,069$ 9.9%1,391,570$ 1.9%1,418,734$ 2.0% G1 SPED transp OOD (Sch)1,341,681 7.0%1,388,640 3.5%1,437,242 3.5%1,487,546 3.5% G2a SPED tuition OOD (Sch)6,328,488 9.0%6,549,985 3.5%6,779,235 3.5%7,016,508 3.5% G2b SPED contingency 600,607 -49.5%621,628 3.5%643,385 3.5%649,819 1.0% G3 SPED offsets OOD (Sch)(2,421,948)25.1%(2,512,771)3.8%(2,600,718)3.5%(2,678,740)3.0% G99 Acc. Costs - OOD SPED 5,848,828$ -7.3%6,047,482$ 3.4%6,259,144$ 3.5%6,475,133$ 3.5% H1 Voc School - NERMVS 998,308 4.0%1,038,241 4.0%1,079,770 4.0%1,122,961 4.0% Voc School - NERMVS Capital 337,560 -0.6%347,574 3.0%336,225 -3.3%336,225 0.0% H2 Voc School - Minute Man 56,818 2.5%58,238 2.5%59,694 2.5%61,187 2.5% Voc School - Essex North 210,575 4.0%218,998 4.0%227,757 4.0%236,868 4.0% H99 Acc. Costs - Vocational 1,603,261$ 2.9%1,663,051$ 3.7%1,703,447$ 2.4%1,757,241$ 3.2% J1 Rubbish (DPW)3,068,709 39.5%3,222,144 5.0%3,383,252 5.0%3,552,414 5.0% J2 Snow and Ice Control (DPW)675,000 0.0%675,000 0.0%675,000 0.0%675,000 0.0% J3 State Assessments 897,409 2.5%919,844 2.5%942,840 2.5%966,411 2.5% Cemetery (DPW) J99 Acc. Costs - Misc.4,641,118$ 23.7%4,816,989$ 3.8%5,001,092$ 3.8%5,193,826$ 3.9% 25 Data Analytics and Resources BureauData Analytics and Resources BureauData Analytics and Resources BureauData Analytics and Resources Bureau Estimated Impact on Property Taxes with a Prop 2 ½ Referendum Question Approval Data current as of 05/18/2026                                                                                                                                                                                                          Increase / Decrease Amount Selected  $7,500,000 ReadingReadingReadingReading     Residential & Open Space (RO)   Commercial,   Industrial and   Personal Property (CIP)   Total   FY 2026 # of ParcelsFY 2026 # of ParcelsFY 2026 # of ParcelsFY 2026 # of Parcels     8,850     581     9,431   FY 2026 Assessed ValueFY 2026 Assessed ValueFY 2026 Assessed ValueFY 2026 Assessed Value     7,768,433,855     507,103,022     8,275,536,877   FY 2026 Tax LevyFY 2026 Tax LevyFY 2026 Tax LevyFY 2026 Tax Levy     85,142,035     6,364,143     91,506,178 RO Tax Rate CIP Tax Rate 10.96 12.55 RO CIP   Proposed Increase/Decrease to Levy:  6,978,384     521,616     Levy Share:  93.0451%     6.9549%     Proposed Tax Rate Impact Per $1,000:  0.90     1.03     Proposed New Tax Rate Per $1,000 (Estimated New):  11.86     13.58     FY 2026 Average Single Family Assessed Value (Current):944,193     FY 2026 Average Single Family Tax Bill (Current):10,348     FY 2026 Average Single Family Tax Bill Impact (Estimated New):849.77   Assessed Value Current Estimated RO Tax Bill Proposed Estimated RO Tax Bill Estimated RO Tax Bill Impact Current Estimated CIP Tax Bill Proposed Estimated CIP Tax Bill Estimated CIP Tax Bill Impact   250,000    2,740.00    2,965.00    225.00    3,137.50    3,395.00     350,000    3,836.00    4,151.00    315.00    4,392.50    4,753.00     450,000    4,932.00    5,337.00    405.00    5,647.50    6,111.00     550,000    6,028.00    6,523.00    495.00    6,902.50    7,469.00     650,000    7,124.00    7,709.00    585.00    8,157.50    8,827.00     750,000    8,220.00    8,895.00    675.00    9,412.50    10,185.00     850,000    9,316.00    10,081.00    765.00    10,667.50    11,543.00     950,000    10,412.00    11,267.00    855.00    11,922.50    12,901.00     1,050,000    11,508.00    12,453.00    945.00    13,177.50    14,259.00     1,150,000    12,604.00    13,639.00    1,035.00    14,432.50    15,617.00     1,250,000    13,700.00    14,825.00    1,125.00    15,687.50    16,975.00     1,350,000    14,796.00    16,011.00    1,215.00    16,942.50    18,333.00     1,450,000    15,892.00    17,197.00    1,305.00    18,197.50    19,691.00     1,550,000    16,988.00    18,383.00    1,395.00    19,452.50    21,049.00     1,650,000    18,084.00    19,569.00    1,485.00    20,707.50    22,407.00     1,750,000    19,180.00    20,755.00    1,575.00    21,962.50    23,765.00     1,850,000    20,276.00    21,941.00    1,665.00    23,217.50    25,123.00     1,950,000    21,372.00    23,127.00    1,755.00    24,472.50    26,481.00     2,050,000    22,468.00    24,313.00    1,845.00    25,727.50    27,839.00     2,150,000    23,564.00    25,499.00    1,935.00    26,982.50    29,197.00     2,250,000    24,660.00    26,685.00    2,025.00    28,237.50    30,555.00     2,350,000    25,756.00    27,871.00    2,115.00    29,492.50    31,913.00     2,450,000    26,852.00    29,057.00    2,205.00    30,747.50    33,271.00     2,550,000    27,948.00    30,243.00    2,295.00    32,002.50    34,629.00     2,650,000    29,044.00    31,429.00    2,385.00    33,257.50    35,987.00   26 Data Analytics and Resources BureauData Analytics and Resources BureauData Analytics and Resources BureauData Analytics and Resources Bureau Estimated Impact on Property Taxes with a Prop 2 ½ Referendum Question Approval Data current as of 05/18/2026                                                                                                                                                                                                          Increase / Decrease Amount Selected  $8,000,000 ReadingReadingReadingReading     Residential & Open Space (RO)   Commercial,   Industrial and   Personal Property (CIP)   Total   FY 2026 # of ParcelsFY 2026 # of ParcelsFY 2026 # of ParcelsFY 2026 # of Parcels     8,850     581     9,431   FY 2026 Assessed ValueFY 2026 Assessed ValueFY 2026 Assessed ValueFY 2026 Assessed Value     7,768,433,855     507,103,022     8,275,536,877   FY 2026 Tax LevyFY 2026 Tax LevyFY 2026 Tax LevyFY 2026 Tax Levy     85,142,035     6,364,143     91,506,178 RO Tax Rate CIP Tax Rate 10.96 12.55 RO CIP   Proposed Increase/Decrease to Levy:  7,443,610     556,390     Levy Share:  93.0451%     6.9549%     Proposed Tax Rate Impact Per $1,000:  0.96     1.10     Proposed New Tax Rate Per $1,000 (Estimated New):  11.92     13.65     FY 2026 Average Single Family Assessed Value (Current):944,193     FY 2026 Average Single Family Tax Bill (Current):10,348     FY 2026 Average Single Family Tax Bill Impact (Estimated New):906.43   Assessed Value Current Estimated RO Tax Bill Proposed Estimated RO Tax Bill Estimated RO Tax Bill Impact Current Estimated CIP Tax Bill Proposed Estimated CIP Tax Bill Estimated CIP Tax Bill Impact   250,000    2,740.00    2,980.00    240.00    3,137.50    3,412.50     350,000    3,836.00    4,172.00    336.00    4,392.50    4,777.50     450,000    4,932.00    5,364.00    432.00    5,647.50    6,142.50     550,000    6,028.00    6,556.00    528.00    6,902.50    7,507.50     650,000    7,124.00    7,748.00    624.00    8,157.50    8,872.50     750,000    8,220.00    8,940.00    720.00    9,412.50    10,237.50     850,000    9,316.00    10,132.00    816.00    10,667.50    11,602.50     950,000    10,412.00    11,324.00    912.00    11,922.50    12,967.50     1,050,000    11,508.00    12,516.00    1,008.00    13,177.50    14,332.50     1,150,000    12,604.00    13,708.00    1,104.00    14,432.50    15,697.50     1,250,000    13,700.00    14,900.00    1,200.00    15,687.50    17,062.50     1,350,000    14,796.00    16,092.00    1,296.00    16,942.50    18,427.50     1,450,000    15,892.00    17,284.00    1,392.00    18,197.50    19,792.50     1,550,000    16,988.00    18,476.00    1,488.00    19,452.50    21,157.50     1,650,000    18,084.00    19,668.00    1,584.00    20,707.50    22,522.50     1,750,000    19,180.00    20,860.00    1,680.00    21,962.50    23,887.50     1,850,000    20,276.00    22,052.00    1,776.00    23,217.50    25,252.50     1,950,000    21,372.00    23,244.00    1,872.00    24,472.50    26,617.50     2,050,000    22,468.00    24,436.00    1,968.00    25,727.50    27,982.50     2,150,000    23,564.00    25,628.00    2,064.00    26,982.50    29,347.50     2,250,000    24,660.00    26,820.00    2,160.00    28,237.50    30,712.50     2,350,000    25,756.00    28,012.00    2,256.00    29,492.50    32,077.50     2,450,000    26,852.00    29,204.00    2,352.00    30,747.50    33,442.50     2,550,000    27,948.00    30,396.00    2,448.00    32,002.50    34,807.50     2,650,000    29,044.00    31,588.00    2,544.00    33,257.50    36,172.50   27 Data Analytics and Resources BureauData Analytics and Resources BureauData Analytics and Resources BureauData Analytics and Resources Bureau Estimated Impact on Property Taxes with a Prop 2 ½ Referendum Question Approval Data current as of 05/18/2026                                                                                                                                                                                                          Increase / Decrease Amount Selected  $9,000,000 ReadingReadingReadingReading     Residential & Open Space (RO)   Commercial,   Industrial and   Personal Property (CIP)   Total   FY 2026 # of ParcelsFY 2026 # of ParcelsFY 2026 # of ParcelsFY 2026 # of Parcels     8,850     581     9,431   FY 2026 Assessed ValueFY 2026 Assessed ValueFY 2026 Assessed ValueFY 2026 Assessed Value     7,768,433,855     507,103,022     8,275,536,877   FY 2026 Tax LevyFY 2026 Tax LevyFY 2026 Tax LevyFY 2026 Tax Levy     85,142,035     6,364,143     91,506,178 RO Tax Rate CIP Tax Rate 10.96 12.55 RO CIP   Proposed Increase/Decrease to Levy:  8,374,061     625,939     Levy Share:  93.0451%     6.9549%     Proposed Tax Rate Impact Per $1,000:  1.08     1.23     Proposed New Tax Rate Per $1,000 (Estimated New):  12.04     13.78     FY 2026 Average Single Family Assessed Value (Current):944,193     FY 2026 Average Single Family Tax Bill (Current):10,348     FY 2026 Average Single Family Tax Bill Impact (Estimated New):1,019.73   Assessed Value Current Estimated RO Tax Bill Proposed Estimated RO Tax Bill Estimated RO Tax Bill Impact Current Estimated CIP Tax Bill Proposed Estimated CIP Tax Bill Estimated CIP Tax Bill Impact   250,000    2,740.00    3,010.00    270.00    3,137.50    3,445.00     350,000    3,836.00    4,214.00    378.00    4,392.50    4,823.00     450,000    4,932.00    5,418.00    486.00    5,647.50    6,201.00     550,000    6,028.00    6,622.00    594.00    6,902.50    7,579.00     650,000    7,124.00    7,826.00    702.00    8,157.50    8,957.00     750,000    8,220.00    9,030.00    810.00    9,412.50    10,335.00     850,000    9,316.00    10,234.00    918.00    10,667.50    11,713.00     950,000    10,412.00    11,438.00    1,026.00    11,922.50    13,091.00     1,050,000    11,508.00    12,642.00    1,134.00    13,177.50    14,469.00     1,150,000    12,604.00    13,846.00    1,242.00    14,432.50    15,847.00     1,250,000    13,700.00    15,050.00    1,350.00    15,687.50    17,225.00     1,350,000    14,796.00    16,254.00    1,458.00    16,942.50    18,603.00     1,450,000    15,892.00    17,458.00    1,566.00    18,197.50    19,981.00     1,550,000    16,988.00    18,662.00    1,674.00    19,452.50    21,359.00     1,650,000    18,084.00    19,866.00    1,782.00    20,707.50    22,737.00     1,750,000    19,180.00    21,070.00    1,890.00    21,962.50    24,115.00     1,850,000    20,276.00    22,274.00    1,998.00    23,217.50    25,493.00     1,950,000    21,372.00    23,478.00    2,106.00    24,472.50    26,871.00     2,050,000    22,468.00    24,682.00    2,214.00    25,727.50    28,249.00     2,150,000    23,564.00    25,886.00    2,322.00    26,982.50    29,627.00     2,250,000    24,660.00    27,090.00    2,430.00    28,237.50    31,005.00     2,350,000    25,756.00    28,294.00    2,538.00    29,492.50    32,383.00     2,450,000    26,852.00    29,498.00    2,646.00    30,747.50    33,761.00     2,550,000    27,948.00    30,702.00    2,754.00    32,002.50    35,139.00     2,650,000    29,044.00    31,906.00    2,862.00    33,257.50    36,517.00   28 Data Analytics and Resources BureauData Analytics and Resources BureauData Analytics and Resources BureauData Analytics and Resources Bureau Estimated Impact on Property Taxes with a Prop 2 ½ Referendum Question Approval Data current as of 05/18/2026                                                                                                                                                                                                          Increase / Decrease Amount Selected  $10,000,000 ReadingReadingReadingReading     Residential & Open Space (RO)   Commercial,   Industrial and   Personal Property (CIP)   Total   FY 2026 # of ParcelsFY 2026 # of ParcelsFY 2026 # of ParcelsFY 2026 # of Parcels     8,850     581     9,431   FY 2026 Assessed ValueFY 2026 Assessed ValueFY 2026 Assessed ValueFY 2026 Assessed Value     7,768,433,855     507,103,022     8,275,536,877   FY 2026 Tax LevyFY 2026 Tax LevyFY 2026 Tax LevyFY 2026 Tax Levy     85,142,035     6,364,143     91,506,178 RO Tax Rate CIP Tax Rate 10.96 12.55 RO CIP   Proposed Increase/Decrease to Levy:  9,304,512     695,488     Levy Share:  93.0451%     6.9549%     Proposed Tax Rate Impact Per $1,000:  1.20     1.37     Proposed New Tax Rate Per $1,000 (Estimated New):  12.16     13.92     FY 2026 Average Single Family Assessed Value (Current):944,193     FY 2026 Average Single Family Tax Bill (Current):10,348     FY 2026 Average Single Family Tax Bill Impact (Estimated New):1,133.03   Assessed Value Current Estimated RO Tax Bill Proposed Estimated RO Tax Bill Estimated RO Tax Bill Impact Current Estimated CIP Tax Bill Proposed Estimated CIP Tax Bill Estimated CIP Tax Bill Impact   250,000    2,740.00    3,040.00    300.00    3,137.50    3,480.00     350,000    3,836.00    4,256.00    420.00    4,392.50    4,872.00     450,000    4,932.00    5,472.00    540.00    5,647.50    6,264.00     550,000    6,028.00    6,688.00    660.00    6,902.50    7,656.00     650,000    7,124.00    7,904.00    780.00    8,157.50    9,048.00     750,000    8,220.00    9,120.00    900.00    9,412.50    10,440.00     850,000    9,316.00    10,336.00    1,020.00    10,667.50    11,832.00     950,000    10,412.00    11,552.00    1,140.00    11,922.50    13,224.00     1,050,000    11,508.00    12,768.00    1,260.00    13,177.50    14,616.00     1,150,000    12,604.00    13,984.00    1,380.00    14,432.50    16,008.00     1,250,000    13,700.00    15,200.00    1,500.00    15,687.50    17,400.00     1,350,000    14,796.00    16,416.00    1,620.00    16,942.50    18,792.00     1,450,000    15,892.00    17,632.00    1,740.00    18,197.50    20,184.00     1,550,000    16,988.00    18,848.00    1,860.00    19,452.50    21,576.00     1,650,000    18,084.00    20,064.00    1,980.00    20,707.50    22,968.00     1,750,000    19,180.00    21,280.00    2,100.00    21,962.50    24,360.00     1,850,000    20,276.00    22,496.00    2,220.00    23,217.50    25,752.00     1,950,000    21,372.00    23,712.00    2,340.00    24,472.50    27,144.00     2,050,000    22,468.00    24,928.00    2,460.00    25,727.50    28,536.00     2,150,000    23,564.00    26,144.00    2,580.00    26,982.50    29,928.00     2,250,000    24,660.00    27,360.00    2,700.00    28,237.50    31,320.00     2,350,000    25,756.00    28,576.00    2,820.00    29,492.50    32,712.00     2,450,000    26,852.00    29,792.00    2,940.00    30,747.50    34,104.00     2,550,000    27,948.00    31,008.00    3,060.00    32,002.50    35,496.00     2,650,000    29,044.00    32,224.00    3,180.00    33,257.50    36,888.00   29 Data Analytics and Resources BureauData Analytics and Resources BureauData Analytics and Resources BureauData Analytics and Resources Bureau Estimated Impact on Property Taxes with a Prop 2 ½ Referendum Question Approval Data current as of 05/18/2026                                                                                                                                                                                                          Increase / Decrease Amount Selected  $11,000,000 ReadingReadingReadingReading     Residential & Open Space (RO)   Commercial,   Industrial and   Personal Property (CIP)   Total   FY 2026 # of ParcelsFY 2026 # of ParcelsFY 2026 # of ParcelsFY 2026 # of Parcels     8,850     581     9,431   FY 2026 Assessed ValueFY 2026 Assessed ValueFY 2026 Assessed ValueFY 2026 Assessed Value     7,768,433,855     507,103,022     8,275,536,877   FY 2026 Tax LevyFY 2026 Tax LevyFY 2026 Tax LevyFY 2026 Tax Levy     85,142,035     6,364,143     91,506,178 RO Tax Rate CIP Tax Rate 10.96 12.55 RO CIP   Proposed Increase/Decrease to Levy:  10,234,963     765,037     Levy Share:  93.0451%     6.9549%     Proposed Tax Rate Impact Per $1,000:  1.32     1.51     Proposed New Tax Rate Per $1,000 (Estimated New):  12.28     14.06     FY 2026 Average Single Family Assessed Value (Current):944,193     FY 2026 Average Single Family Tax Bill (Current):10,348     FY 2026 Average Single Family Tax Bill Impact (Estimated New):1,246.34   Assessed Value Current Estimated RO Tax Bill Proposed Estimated RO Tax Bill Estimated RO Tax Bill Impact Current Estimated CIP Tax Bill Proposed Estimated CIP Tax Bill Estimated CIP Tax Bill Impact   250,000    2,740.00    3,070.00    330.00    3,137.50    3,515.00     350,000    3,836.00    4,298.00    462.00    4,392.50    4,921.00     450,000    4,932.00    5,526.00    594.00    5,647.50    6,327.00     550,000    6,028.00    6,754.00    726.00    6,902.50    7,733.00     650,000    7,124.00    7,982.00    858.00    8,157.50    9,139.00     750,000    8,220.00    9,210.00    990.00    9,412.50    10,545.00     850,000    9,316.00    10,438.00    1,122.00    10,667.50    11,951.00     950,000    10,412.00    11,666.00    1,254.00    11,922.50    13,357.00     1,050,000    11,508.00    12,894.00    1,386.00    13,177.50    14,763.00     1,150,000    12,604.00    14,122.00    1,518.00    14,432.50    16,169.00     1,250,000    13,700.00    15,350.00    1,650.00    15,687.50    17,575.00     1,350,000    14,796.00    16,578.00    1,782.00    16,942.50    18,981.00     1,450,000    15,892.00    17,806.00    1,914.00    18,197.50    20,387.00     1,550,000    16,988.00    19,034.00    2,046.00    19,452.50    21,793.00     1,650,000    18,084.00    20,262.00    2,178.00    20,707.50    23,199.00     1,750,000    19,180.00    21,490.00    2,310.00    21,962.50    24,605.00     1,850,000    20,276.00    22,718.00    2,442.00    23,217.50    26,011.00     1,950,000    21,372.00    23,946.00    2,574.00    24,472.50    27,417.00     2,050,000    22,468.00    25,174.00    2,706.00    25,727.50    28,823.00     2,150,000    23,564.00    26,402.00    2,838.00    26,982.50    30,229.00     2,250,000    24,660.00    27,630.00    2,970.00    28,237.50    31,635.00     2,350,000    25,756.00    28,858.00    3,102.00    29,492.50    33,041.00     2,450,000    26,852.00    30,086.00    3,234.00    30,747.50    34,447.00     2,550,000    27,948.00    31,314.00    3,366.00    32,002.50    35,853.00     2,650,000    29,044.00    32,542.00    3,498.00    33,257.50    37,259.00   30 Data Analytics and Resources BureauData Analytics and Resources BureauData Analytics and Resources BureauData Analytics and Resources Bureau Estimated Impact on Property Taxes with a Prop 2 ½ Referendum Question Approval Data current as of 05/18/2026 Increase / Decrease Amount Selected  $12,000,000 ReadingReadingReadingReading Residential & Open Space (RO)   Commercial,   Industrial and   Personal Property (CIP)   Total  FY 2026 # of ParcelsFY 2026 # of ParcelsFY 2026 # of ParcelsFY 2026 # of Parcels   8,850   581   9,431  FY 2026 Assessed ValueFY 2026 Assessed ValueFY 2026 Assessed ValueFY 2026 Assessed Value   7,768,433,855   507,103,022   8,275,536,877  FY 2026 Tax LevyFY 2026 Tax LevyFY 2026 Tax LevyFY 2026 Tax Levy   85,142,035   6,364,143   91,506,178 RO Tax Rate CIP Tax Rate 10.96 12.55 RO CIP   Proposed Increase/Decrease to Levy:  11,165,415     834,585     Levy Share:  93.0451%     6.9549%     Proposed Tax Rate Impact Per $1,000:  1.44     1.65     Proposed New Tax Rate Per $1,000 (Estimated New):  12.40     14.20     FY 2026 Average Single Family Assessed Value (Current):944,193     FY 2026 Average Single Family Tax Bill (Current):10,348     FY 2026 Average Single Family Tax Bill Impact (Estimated New):1,359.64   Assessed Value Current Estimated RO Tax Bill Proposed Estimated RO Tax Bill Estimated RO Tax Bill Impact Current Estimated CIP Tax Bill Proposed Estimated CIP Tax Bill Estimated CIP Tax Bill Impact   250,000    2,740.00    3,100.00    360.00    3,137.50    3,550.00     350,000    3,836.00    4,340.00    504.00    4,392.50    4,970.00     450,000    4,932.00    5,580.00    648.00    5,647.50    6,390.00     550,000    6,028.00    6,820.00    792.00    6,902.50    7,810.00     650,000    7,124.00    8,060.00    936.00    8,157.50    9,230.00     750,000    8,220.00    9,300.00    1,080.00    9,412.50    10,650.00     850,000    9,316.00    10,540.00    1,224.00    10,667.50    12,070.00     950,000    10,412.00    11,780.00    1,368.00    11,922.50    13,490.00     1,050,000    11,508.00    13,020.00    1,512.00    13,177.50    14,910.00     1,150,000    12,604.00    14,260.00    1,656.00    14,432.50    16,330.00     1,250,000    13,700.00    15,500.00    1,800.00    15,687.50    17,750.00     1,350,000    14,796.00    16,740.00    1,944.00    16,942.50    19,170.00     1,450,000    15,892.00    17,980.00    2,088.00    18,197.50    20,590.00     1,550,000    16,988.00    19,220.00    2,232.00    19,452.50    22,010.00     1,650,000    18,084.00    20,460.00    2,376.00    20,707.50    23,430.00     1,750,000    19,180.00    21,700.00    2,520.00    21,962.50    24,850.00     1,850,000    20,276.00    22,940.00    2,664.00    23,217.50    26,270.00     1,950,000    21,372.00    24,180.00    2,808.00    24,472.50    27,690.00     2,050,000    22,468.00    25,420.00    2,952.00    25,727.50    29,110.00     2,150,000    23,564.00    26,660.00    3,096.00    26,982.50    30,530.00     2,250,000    24,660.00    27,900.00    3,240.00    28,237.50    31,950.00     2,350,000    25,756.00    29,140.00    3,384.00    29,492.50    33,370.00     2,450,000    26,852.00    30,380.00    3,528.00    30,747.50    34,790.00     2,550,000    27,948.00    31,620.00    3,672.00    32,002.50    36,210.00     2,650,000    29,044.00    32,860.00    3,816.00    33,257.50    37,630.00   31 Data Analytics and Resources BureauData Analytics and Resources BureauData Analytics and Resources BureauData Analytics and Resources Bureau Estimated Impact on Property Taxes with a Prop 2 ½ Referendum Question Approval Data current as of 05/18/2026                                                                                                                                                                                                          Increase / Decrease Amount Selected  $13,000,000 ReadingReadingReadingReading     Residential & Open Space (RO)   Commercial,   Industrial and   Personal Property (CIP)   Total   FY 2026 # of ParcelsFY 2026 # of ParcelsFY 2026 # of ParcelsFY 2026 # of Parcels     8,850     581     9,431   FY 2026 Assessed ValueFY 2026 Assessed ValueFY 2026 Assessed ValueFY 2026 Assessed Value     7,768,433,855     507,103,022     8,275,536,877   FY 2026 Tax LevyFY 2026 Tax LevyFY 2026 Tax LevyFY 2026 Tax Levy     85,142,035     6,364,143     91,506,178 RO Tax Rate CIP Tax Rate 10.96 12.55 RO CIP   Proposed Increase/Decrease to Levy:  12,095,866     904,134     Levy Share:  93.0451%     6.9549%     Proposed Tax Rate Impact Per $1,000:  1.56     1.78     Proposed New Tax Rate Per $1,000 (Estimated New):  12.52     14.33     FY 2026 Average Single Family Assessed Value (Current):944,193     FY 2026 Average Single Family Tax Bill (Current):10,348     FY 2026 Average Single Family Tax Bill Impact (Estimated New):1,472.94   Assessed Value Current Estimated RO Tax Bill Proposed Estimated RO Tax Bill Estimated RO Tax Bill Impact Current Estimated CIP Tax Bill Proposed Estimated CIP Tax Bill Estimated CIP Tax Bill Impact   250,000    2,740.00    3,130.00    390.00    3,137.50    3,582.50     350,000    3,836.00    4,382.00    546.00    4,392.50    5,015.50     450,000    4,932.00    5,634.00    702.00    5,647.50    6,448.50     550,000    6,028.00    6,886.00    858.00    6,902.50    7,881.50     650,000    7,124.00    8,138.00    1,014.00    8,157.50    9,314.50     750,000    8,220.00    9,390.00    1,170.00    9,412.50    10,747.50     850,000    9,316.00    10,642.00    1,326.00    10,667.50    12,180.50     950,000    10,412.00    11,894.00    1,482.00    11,922.50    13,613.50     1,050,000    11,508.00    13,146.00    1,638.00    13,177.50    15,046.50     1,150,000    12,604.00    14,398.00    1,794.00    14,432.50    16,479.50     1,250,000    13,700.00    15,650.00    1,950.00    15,687.50    17,912.50     1,350,000    14,796.00    16,902.00    2,106.00    16,942.50    19,345.50     1,450,000    15,892.00    18,154.00    2,262.00    18,197.50    20,778.50     1,550,000    16,988.00    19,406.00    2,418.00    19,452.50    22,211.50     1,650,000    18,084.00    20,658.00    2,574.00    20,707.50    23,644.50     1,750,000    19,180.00    21,910.00    2,730.00    21,962.50    25,077.50     1,850,000    20,276.00    23,162.00    2,886.00    23,217.50    26,510.50     1,950,000    21,372.00    24,414.00    3,042.00    24,472.50    27,943.50     2,050,000    22,468.00    25,666.00    3,198.00    25,727.50    29,376.50     2,150,000    23,564.00    26,918.00    3,354.00    26,982.50    30,809.50     2,250,000    24,660.00    28,170.00    3,510.00    28,237.50    32,242.50     2,350,000    25,756.00    29,422.00    3,666.00    29,492.50    33,675.50     2,450,000    26,852.00    30,674.00    3,822.00    30,747.50    35,108.50     2,550,000    27,948.00    31,926.00    3,978.00    32,002.50    36,541.50     2,650,000    29,044.00    33,178.00    4,134.00    33,257.50    37,974.50   32 Data Analytics and Resources BureauData Analytics and Resources BureauData Analytics and Resources BureauData Analytics and Resources Bureau Estimated Impact on Property Taxes with a Prop 2 ½ Referendum Question Approval Data current as of 05/18/2026 Increase / Decrease Amount Selected  $14,000,000 ReadingReadingReadingReading Residential & Open Space (RO)   Commercial,   Industrial and   Personal Property (CIP)   Total  FY 2026 # of ParcelsFY 2026 # of ParcelsFY 2026 # of ParcelsFY 2026 # of Parcels   8,850   581   9,431  FY 2026 Assessed ValueFY 2026 Assessed ValueFY 2026 Assessed ValueFY 2026 Assessed Value   7,768,433,855   507,103,022   8,275,536,877  FY 2026 Tax LevyFY 2026 Tax LevyFY 2026 Tax LevyFY 2026 Tax Levy   85,142,035   6,364,143   91,506,178 RO Tax Rate CIP Tax Rate 10.96 12.55 RO CIP   Proposed Increase/Decrease to Levy:  13,026,317     973,683     Levy Share:  93.0451%     6.9549%     Proposed Tax Rate Impact Per $1,000:  1.68     1.92     Proposed New Tax Rate Per $1,000 (Estimated New):  12.64     14.47     FY 2026 Average Single Family Assessed Value (Current):944,193     FY 2026 Average Single Family Tax Bill (Current):10,348     FY 2026 Average Single Family Tax Bill Impact (Estimated New):1,586.24   Assessed Value Current Estimated RO Tax Bill Proposed Estimated RO Tax Bill Estimated RO Tax Bill Impact Current Estimated CIP Tax Bill Proposed Estimated CIP Tax Bill Estimated CIP Tax Bill Impact   250,000    2,740.00    3,160.00    420.00    3,137.50    3,617.50     350,000    3,836.00    4,424.00    588.00    4,392.50    5,064.50     450,000    4,932.00    5,688.00    756.00    5,647.50    6,511.50     550,000    6,028.00    6,952.00    924.00    6,902.50    7,958.50     650,000    7,124.00    8,216.00    1,092.00    8,157.50    9,405.50     750,000    8,220.00    9,480.00    1,260.00    9,412.50    10,852.50     850,000    9,316.00    10,744.00    1,428.00    10,667.50    12,299.50     950,000    10,412.00    12,008.00    1,596.00    11,922.50    13,746.50     1,050,000    11,508.00    13,272.00    1,764.00    13,177.50    15,193.50     1,150,000    12,604.00    14,536.00    1,932.00    14,432.50    16,640.50     1,250,000    13,700.00    15,800.00    2,100.00    15,687.50    18,087.50     1,350,000    14,796.00    17,064.00    2,268.00    16,942.50    19,534.50     1,450,000    15,892.00    18,328.00    2,436.00    18,197.50    20,981.50     1,550,000    16,988.00    19,592.00    2,604.00    19,452.50    22,428.50     1,650,000    18,084.00    20,856.00    2,772.00    20,707.50    23,875.50     1,750,000    19,180.00    22,120.00    2,940.00    21,962.50    25,322.50     1,850,000    20,276.00    23,384.00    3,108.00    23,217.50    26,769.50     1,950,000    21,372.00    24,648.00    3,276.00    24,472.50    28,216.50     2,050,000    22,468.00    25,912.00    3,444.00    25,727.50    29,663.50     2,150,000    23,564.00    27,176.00    3,612.00    26,982.50    31,110.50     2,250,000    24,660.00    28,440.00    3,780.00    28,237.50    32,557.50     2,350,000    25,756.00    29,704.00    3,948.00    29,492.50    34,004.50     2,450,000    26,852.00    30,968.00    4,116.00    30,747.50    35,451.50     2,550,000    27,948.00    32,232.00    4,284.00    32,002.50    36,898.50     2,650,000    29,044.00    33,496.00    4,452.00    33,257.50    38,345.50   33 Town of Reading 16 Lowell Street Reading, MA 01867-2685 Procurement Office Office: (781) 942-6696 Website: www.readingma.gov To: Jayne Wellman, Town Manager & Sharon Angstrom, CFO From: Katie Gabriello, Director of Operations & Joshua Delaune, EA – Operations Date: May 18, 2025 RE: Override communication & proposed timeline As the Town of Reading prepares for an operational override for fiscal year 2028, the operations team has prepared a tentative communication plan and timeline for resident- focused information. In terms of communication, it will be important to provide diverse and robust opportunities for the public to receive information and ask questions. To that end, please see the proposed schedule provided below, which includes both in-person and virtual meeting opportunities, digital and physical ways to ask questions and voice comments, and active and passive ways to receive information leading up to the election. This is followed by our suite of communication assets, and avenues by which we deliver information to residents. Please note: adhering to the regulations and procedures set by DLS, OCPF and the Secretary of State’s office around communication and dissemination of information is at top of mind for our office as we enter this budget season. Our goal is to provide information around the proposed budget/s, cuts and ballot question options as set forth by the CFO, Town Manager, and Select Board to arm Reading residents with the tools they need to vote on November 3, 2026. **We’ve incorporated the scheduled Select Board Meetings into the public outreach schedule and propose having dedicated times for questions as part of public comment or the Town Manager’s report. ** 34 Public Outreach Timeline (all in purple proposed, all in blue solidified) For the multiple forum-style events, the goal for these is to deliver a concise overview of the override and options on the ballot, then allow times for resident questions. August: Tuesday August 4, 2026: Regular Select Board Meeting Wednesday, August 5, 2026: State deadline for proposition 2 ½ ballot question Thursday August 6, 2026, 7pm: Override Webinar (Virtual only) •With the ballot question language officially submitted to the state, this will be a key opportunity for residents to hear what will be on the November ballot in regards to the proposed override. •We will debut materials and the dedicated landing page on the website (similar to the FY2026 Debt Exclusion page), including a form to submit questions, a calendar of upcoming meetings and an updated tax impact calculator. •The webinar will be online only, recorded, and shared with RCTV for future viewing. It will be posted to the override page once the recording is available. •Proposed speakers: CFO, Town Manager, Select Board Chair, FinCom chair Tuesday August 18, 2026, 7pm: In-person forum (virtual option), Reading Public Library Monday, August 31, 2026, 6:30pm: Virtual forum September: Tuesday September 8, 2026: Regular Select Board Meeting Wednesday September 16, 2026, 3pm: In-person forum (virtual option), Reading Town Hall Tuesday September 22, 2026: Regular Select Board Meeting Saturday September 19, 2026, 10am: In-person forum, Reading Public Library Wednesday September 30, 2026, 12 noon: Virtual forum October: Tuesday October 6, 2026: Regular Select Board Meeting Saturday October 10, 2026, 3pm: In-person forum, Reading Public Library Monday October 12, 2026, 11am: In-person forum (virtual option), Pleasant Street Center 35 Tuesday October 20, 2026—Regular Select Board Meeting (final SB meeting prior to election) Wednesday October 28, 2026, 6pm: Final Informational Session, virtual only Tuesday, November 3, 2026: State Election Override Communication Assets The Town of Reading has various avenues, means and methods for communicating with the residents and community stakeholders. Below is a breakdown of how the Town can communicate throughout this override process. Town-owned Channels 1.Town Website a.The Town will have a dedicated landing page for override information serving as the homebase for all things override related. This can include informational videos, FAQ documents, sample override questions, and recordings of previous meetings and presentations. b.There will be a form on our webpage for residents to submit questions to the communications and override team. c.All questions received will be incorporated into dynamic FAQ documents. 2.Email Communication a.The Town utilizes many newsletters including the Town Manager Minute, Reading Public Library, RPS Superintendent Weekly Newsletter, Recreation, and Pleasantries. 3.Social Media a.The Town will provide override information and direct constituents to town website. 4.Press Release and Media Relations a.The Town will leverage its local media (RCTV, Daily Times Chronicle) to communicate override information broadly to the public. b.The Town will send press releases to local and regional media outlets to ensure accurate and consistent public information. c.Media outreach will be used to promote public meetings and the release of all new informational materials. Public Engagement, In-Person & Hybrid Outreach 1.Public Meetings & Education Sessions a.Host public meetings, listening sessions, and presentations routinely at board meetings to provide residents with opportunities to learn about the override and ask questions. b.Various times and locations around Town. 36 c.All meetings that can be, will be recorded, and posted to RCTV and the Town’s website. 2.Community Events and Outreach a.Town staff will attend community events, local gatherings, and public spaces (e.g., library, senior center) to provide information and answer questions. i.Connected Reading in October ii.Office Hours throughout the week at Town Hall, PSC, RPL iii.Saturday hours at RPL 3.Materials and assets a.The Town will develop informational materials, including one-page summaries, FAQs, and handouts. b.Informational materials can be made available for distribution at locations like the Pleasant Street Center, the Reading Public Library, and Reading Town Hall. c.Comment-style suggestion boxes will also be available at these locations for residents to submit questions or thoughts (especially impactful for those not online in our community). d.Materials will be designed to clearly explain the override ask and purpose. e.A total of three videos from KartoonEDU to share information about the override for: a.Reading Residents overall, including financial impact b.Reading Schools Services c.Reading Town Hall Services 37 DOR Code Municipality Fiscal Year Vote Date Win / Loss Yes Votes No Votes Vote TypeDepartmentDescriptionAmount002 Acton 2025 4/30/2024 WIN 3,191 3,154 Override GENERAL GOVERNMENT Public Schools And Muni Government6,600,000010 Arlington 2012 6/7/2011 WIN 7,226 6,366 Override GENERAL OPERATING Funding Operating Budgets Of Town And School6,490,000010 Arlington 2020 6/11/2019 WIN 8,655 4,029 Override GENERAL OPERATING Town And School Operating Budget5,500,000010 Arlington 2025 11/7/2023 WIN 7,951 4,964 Override GENERAL OPERATING Operating Override7,000,000046 Brookline 2016 5/5/2015 WIN 6,325 3,958 Override SCHOOLFund Additional Enrollment In Brookline Public Schools And Expenditures In Municipal Departments7,665,000046 Brookline 2019 5/8/2018 WIN 5,412 2,371 Override SCHOOLFunding The Cost Of Expenditures In The Public Schools6,575,425046 Brookline 2024 5/2/2023 WIN 7,516 4,799 Override GENERAL OPERATING Question 2a Operating Override11,983,367164 Lynnfield 2012 6/6/2011 WIN 1,613 1,052 Override GENERAL OPERATING Funding Operating Expenses560,000164 Lynnfield 2026 6/4/2025 WIN 1,897 1,042 Override GENERAL OPERATING Fy26 Budget 4,650,000175 Medfield 2012 5/23/2011 WIN 1,031 721 Override GENERAL OPERATING General Operating Expenses Of The Various School And Town Departments500,000175 Medfield 2019 6/20/2018 WIN 2,112 890 Override HEALTH AND HUMAN SERVICE To Provide Advanced Life Support250,000175 Medfield 2019 6/11/2018 WIN 1,822 1,201 Override GENERAL OPERATING To Increase School And Town Operating Budgets1,663,103176 Medford 2025 11/5/2024 WIN 15,081 13,689 Override SCHOOLTax Override To Benefit Medford Public Schools And City Roads4,000,000176 Medford 2025 11/5/2024 WIN 15,271 13,472 Override SCHOOLTax Override To Increase Funding For Medford Public Schools3,500,000178 Melrose 2016 11/3/2015 LOSS 3,023 5,034 OverridePRE-PROPOSITION 2 1/2 DEBTOverride2,250,000178 Melrose 2020 4/2/2019 WIN 6,084 4,875 Override SCHOOLGeneral Operation Of School5,180,000178 Melrose 2025 6/18/2024 LOSS 4,296 5,174 Override GENERAL OPERATING Funding School,City, And Public Safety Personnel, Associated Benefits, And Services7,700,000178 Melrose 2026 11/4/2025 WIN 6,018 5,052 Override GENERAL OPERATING Override13,500,000207 Newton 2014 3/12/2013 WIN 9,653 8,203 Override GENERAL GOVERNMENT Funding Municipal And School Operating8,400,000207 Newton 2023 3/14/2023 LOSS 9,472 10,595 Override GENERAL OPERATING Budget Override9,175,000213 North Reading 2025 6/18/2024 LOSS 1,807 2,438 Override GENERAL GOVERNMENT School And General Government Budgets10,000,000246 Reading 2017 10/18/2016 LOSS 2,795 4,097 Override GENERAL OPERATING General Operation7,500,000246 Reading 2019 4/3/2018 WIN 5,117 3,392 Override GENERAL OPERATING Teachers, Athletics, Police, Fire, Public Works...Everything4,150,000284 Stoneham 2012 4/5/2011 LOSS 842 1,892 Override GENERAL OPERATING Funding Town And School Budgets1,900,000284 Stoneham 2026 4/1/2025 LOSS 2,909 3,432 Override GENERAL GOVERNMENT $14.6 Million To Fund Public Safety, Education, Public Works And General Government Expenses Beginning July 1, 2025 14,600,000344 Winchester 2012 3/29/2011 LOSS 1,814 2,049 Override GENERAL OPERATING Funding Annual Operating Budgets For Schools, Police, Fire, Library, Public Works,Etc.1,440,000344 Winchester 2020 3/26/2019 WIN 2,849 1,901 Override GENERAL GOVERNMENT Operating Budget And Building Stab Fund10,000,000344 Winchester 2024 1/7/2023 WIN 1,879 1,593 Override GENERAL GOVERNMENT Capital Stabilization Fund400,00038 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 Jurisdiction Acton Pass Arlington Pass Pass Pass Pass Beverly Billerica Brookline Pass Pass Pass Pass Danvers Lynnfield Pass Pass Medfield Pass Medford Pass Melrose Fail Pass Fail Pass Newton Pass Fail North Reading Fail Reading Fail Pass Saugus Stoneham Fail Fail Pass Swampscott Wakefield Wilmington Winchester Pass Fail Fail Fail Woburn Was there an Override? 39 Town of Reading, Massachusetts Analysis of Changes in Certified "Free Cash" Baseline Projection 3.75% Operating 3.0% Operating 3.0% Operating 3.0% Operating Projected Projected Projected Projected Projected Projected Fiscal Year Fiscal Year Fiscal Year Fiscal Year Fiscal Year Fiscal Year Fiscal Year 2025 2026 2027 2028 2029 2030 2031 Certified "free cash" beginning of year 19,293,779 17,312,250 11,396,004 11,546,004 11,696,004 11,846,004 11,996,004 Favorable variance from operations 5,708,628 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 in fiscal year Town meeting votes reducing "free cash" for: Current year (Oct TM) Current year (Nov TM)-652,157 -405,246 Current year (Dec STM) Current year (Jan TM) Current year (Feb TM)or Smart growth Current year (April TM)-688,000 -1,686,000 Subsequent years budget -6,000,000 -6,475,000 -2,500,000 -2,500,000 -2,500,000 -2,500,000 -2,500,000 Subsequent year (from overlay surplus)-350,000 -350,000 -350,000 -350,000 -350,000 -350,000 -350,000 Certified "free cash" end of year 17,312,250 11,396,004 11,546,004 11,696,004 11,846,004 11,996,004 12,146,004 Stabilization Balance 2,054,176 2,115,801 2,179,275 2,244,654 2,311,993 2,381,353 2,452,794 FINCOM Reserves 200,000 200,000 200,000 200,000 200,000 200,000 200,000 Total Projected Reserves 19,566,426 13,711,806 13,925,280 14,140,658 14,357,997 14,577,357 14,798,798 Projection Revenues (3% increase assumed )119,894,762 122,996,294 132,972,391 139,390,909 145,536,398 149,676,921 154,167,229 7% Reserve Limit (Projected Revenues * .07)8,392,633 8,609,741 9,308,067 9,757,364 10,187,548 10,477,384 10,791,706 Excess Reserves over 7% Limiit 11,173,793 5,102,065 4,617,212 4,383,294 4,170,450 4,099,973 4,007,092 2025 2026 2027 2028 2029 2030 2031 Free Cash/Overlay Surplus Used 7,690,157 8,916,246 2,850,000 2,850,000 2,850,000 2,850,000 2,850,000 Favorable variance from operations 5,708,628 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 Certified "free cash" end of year 17,312,250 11,396,004 11,546,004 11,696,004 11,846,004 11,996,004 12,146,004 40 Town of Reading, Massachusetts Analysis of Changes in Certified "Free Cash" Baseline Projection Certified "free cash" beginning of year Favorable variance from operations in fiscal year Town meeting votes reducing "free cash" for: Current year (Oct TM) Current year (Nov TM) Current year (Dec STM) Current year (Jan TM) Current year (Feb TM)or Smart growth Current year (April TM) Subsequent years budget Subsequent year (from overlay surplus) Certified "free cash" end of year Stabilization Balance FINCOM Reserves Total Projected Reserves Projection Revenues (3% increase assumed ) 7% Reserve Limit (Projected Revenues * .07) Excess Reserves over 7% Limiit Free Cash/Overlay Surplus Used Favorable variance from operations Certified "free cash" end of year Projected Projected Projected Fiscal Year Fiscal Year Fiscal Year 2032 2033 2034 12,146,004 12,296,004 12,446,004 3,000,000 3,000,000 3,000,000 -2,500,000 -2,500,000 -2,500,000 -350,000 -350,000 -350,000 12,296,004 12,446,004 12,596,004 2,526,377 2,602,169 2,680,234 200,001 200,002 200,003 15,022,383 15,248,175 15,476,241 158,792,245 163,556,013 168,462,693 11,115,457 11,448,921 11,792,389 3,906,926 3,799,254 3,683,853 2032 2033 2034 2,850,000 2,850,000 2,850,000 3,000,000 3,000,000 3,000,000 12,296,004 12,446,004 12,596,004 41 Town of Reading Meeting Minutes Page | 1 2016-09-22 LAG Board - Committee - Commission - Council: Finance Committee Date: 2026-04-15 Time: 7:00 PM Building: Reading Town Hall Location: Select Board Meeting Room Address: 16 Lowell Street Session: Open Session Purpose: General Business Version: Draft Attendees: Members - Present: Chair Joe Carnahan (remote), Vice Chair Emily Sisson (remote), Endri Kume (remote), Joe McDonagh, Marianne McLaughlin-Downing, Ed Ross (remote), John Sullivan, Mark Zarrow Members - Not Present: Others Present: CFO Sharon Angstrom, DPW Director Chris Cole, Town Manager Jayne Wellman (remote) Minutes Respectfully Submitted By: Jacquelyn LaVerde Topics of Discussion: This meeting was held in-person in the Select Board Meeting Room of Town Hall and remotely via Zoom. Call to order and welcome Chair Joe Carnahan called the meeting to order at 7:01 pm. Roll call: John Sullivan, Marianne McLaughlin-Downing, Mark Zarrow, Ed Ross (remote), Emily Sisson (remote), Joe Carnahan (remote). Endri Kume joined remotely at 7:02 pm. Joe McDonagh joined in-person at 7:05 pm. Public Comment There was no comment from the public. Liaison Reports Marianne McLaughlin-Downing shared that the Select Board elected Melissa Murphy as Chair, Karen Rose-Gillis as Vice Chair, and Karen Herrick as Secretary. Joe Carnahan shared that Geoffrey Coram resigned from the Finance Committee, as he was elected to the School Committee. Revote Town Meeting Warrant Articles and Budget Corrections Chair Joe Carnahan stated that the Finance Committee needed to revote a couple of warrant articles for the upcoming Annual Town Meeting. CFO Sharon Angstrom stated that Article 5, amendments to the current FY26 budget , changed. The original Snow and Ice figure voted on by FINCOM was $800,000, but it was learned that the number needed to be $900,000 after FINCOM voted. DPW Director Chris Cole explained that in addition to the snow clearing and staffing, other residual costs related 42 Page | 2 to snow and ice include repairs to fences, walls, and equipment. The total cost for snow and ice is approximately $1.6 million. For the original FY26 approved budget, November Town Meeting budget amendments, and upcoming Annual Town Meeting budget amendments, this brings the total use of free cash for FY26 to $8.5 million. On a motion by Emily Sisson, seconded by Ed Ross, the Finance Committee voted 8-0 to recommend the contents of Article 5 to Town Meeting as amended. Roll call vote: John Sullivan – Yes, Joe McDonagh – Yes, Marianne McLaughlin- Downing – Yes, Mark Zarrow – Yes, Ed Ross – Yes, Endri Kume – Yes, Emily Sisson –Yes, Joe Carnahan – Yes. Ms. Angstrom explained there was a $10,000 increase to budget line item D99 in Article 10. There was a change in the Debt Schedule that missed being calculated into the Spending Scorecard and Financial Forecast, which was caught upon reviewing the Debt Schedule. Because the Finance Committee voted each line of the budget individually , and not the bottom line, they only needed to revote line D99. On a motion by Emily Sisson, seconded by Ed Ross, the Finance Committee voted to recommend line item D99 to Town Meeting as amended. Roll call vote: John Sullivan – Yes, Joe McDonagh – Yes, Marianne McLaughlin- Downing – Yes, Mark Zarrow – Yes, Ed Ross – Yes, Endri Kume – Yes, Emily Sisson –Yes, Joe Carnahan – Yes. Discuss Finance Committee email communication mechanisms Joe Carnahan explained that there is currently not an effective mechanism for residents to contact the Finance Committee. The current email address goes to the Chair and certain staff, but due to the high number of marketing emails, the messages get redirected to spam folders. The Committee discussed how to handle resident inquiries to the Finance Committee email but ultimately decided to maintain the current system with the Chair and Vice Chair receiving emails with staff forwarding relevant ones to the full Committee to avoid potential Open Meeting Law violations. Future Agendas The Financial Forum to discuss the override is scheduled for May 20th. Approve Prior Meeting Minutes On a motion by Ed Ross, seconded by Endri Kume, the Finance Committee voted 5 - 0-3 to approve the meeting minutes of March 4, 2026, as presented, with John Sullivan, Mark Zarrow, and Emily Sisson abstaining, as they were not present at that meeting. Roll call vote: John Sullivan – Abstain, Joe McDonagh – Yes, Marianne McLaughlin- Downing – Yes, Mark Zarrow – Abstain, Ed Ross – Yes, Endri Kume – Yes, Emily Sisson – Abstain, Joe Carnahan – Yes. On a motion by Ed Ross, seconded by Joe McDonagh, the Finance Committee voted 7-0-1 to approve the meeting minutes of March 11, 2026, as presented, with Endri Kume abstaining, as he was not present at that meeting. Roll call vote: John Sullivan – Yes, Joe McDonagh – Yes, Marianne McLaughlin- Downing – Yes, Mark Zarrow – Yes, Ed Ross – Yes, Endri Kume – Abstain, Emily Sisson – Yes, Joe Carnahan – Yes. On a motion by Ed Ross, seconded by Marianne McLaughlin-Downing, the Finance Committee voted 8-0-0 to adjourn at 7:55 pm. Roll call vote: John Sullivan – Yes, Joe McDonagh – Yes, Marianne McLaughlin- Downing – Yes, Mark Zarrow – Yes, Ed Ross – Yes, Endri Kume – Yes, Emily Sisson –Yes, Joe Carnahan – Yes. 43