HomeMy WebLinkAboutBoard of Selectmen Agenda 08 18 2010 Packet_201402061614361064Town of Nantucket Town of Nantucket Fiscal Year 2012 Fiscal Year 2012 Preliminary General Fund ForecastPreliminary General Fund ForecastBoard of Selectmen August 18, 2010Board of Selectmen August 18, 2010
Municipal Budget OverviewMunicipal Budget OverviewMunicipal Budget OverviewMunicipal BudgetGeneral General FundFundEnterprise FundsCapital ProjectsFundNantucket Memorial AirportSiasconset WaterWannacomet Water Sewer EnterpriseSolid Waste (SWEF)Revolving FundsCommunity Preservation FundsTown GovernmentTown GovernmentPublic SchoolsPublic SchoolsOur Island Home (OIH)
FY2012 BUDGET PROCESS CHANGESFY2012 BUDGET PROCESS CHANGESFY2012 BUDGET PROCESS CHANGES• Budget Cycle beginning in August• Methodology for Planning Assumptions Changed– Forecast to “Live Within” Projected Revenue– Refine Projections • Health Insurance Projection for Existing Employee Base• Capital Budgeted from Revenue – General Fund Subsidies• Solid Waste Enterprise Fund• Our Island Home Enterprise Fund
General Fund Planning Assumptions Revenue General Fund Planning Assumptions General Fund Planning Assumptions RevenueRevenueCategory2011*2012201320142015Tax Revenue2.50%2.50%2.50%2.50%2.50%New Growth-63.42%-4.00%-2.50%-3.42%-2.21%Allowance for Abatements1.18%1.50%1.50%1.50%1.50%State Revenue-5.34%0.00%0.00%0.00%0.00%Local RevenueExcise Tax-4.42%1.00%1.00%1.00%1.00%License & Permits-0.20%0.50%0.50%0.50%0.50%Fees, Rentals, Interest-24.95%0.50%0.50%0.50%0.50%Fines, Forfeits, Penalties-3.32%1.00%1.00%1.00%1.00%Other-2.17%0.50%0.50%0.50%0.50%Miscellaneous Recurring0.00%5.50%5.50%5.50%5.25%Misc Non-Recurring0.00%0.00%0.00%0.00%0.00%Projected Inc (Dec)-2.00%0.10%0.70%2.10%2.30%
General Fund Revenue Increase (Decrease) % by Category FY05-FY15 General Fund Revenue Increase (Decrease) General Fund Revenue Increase (Decrease) % by Category FY05% by Category FY05--FY15FY15-80.00%-60.00%-40.00%-20.00%0.00%20.00%40.00%60.00%2005 2007 2009 2011 2013 2015Tax RevenueNew GrowthAbatementsState RevenueLocal Revenue
General Fund Planning Assumptions Expenditures General Fund Planning Assumptions General Fund Planning Assumptions ExpendituresExpendituresCategory2011*2012201320142015Town Salaries-22.54%1.18%0.80%0.10%-0.25%School Salaries*1.22%1.18%0.80%0.10%-0.25%Operating Expense-21.20%0.0%0.0%0.0%0.0%Medical Insurance Premiums0.00%6.00%10.00%12.00%12.00%General Insurance 5.62%11.00%11.00%10.63%10.50%Barnstable County Retirement-6.42%11.00%11.00%11.00%10.50%Health & Human Svcs Contracts6.71%0.00%-5.04%-9.70%-9.10%Capital Impr from Revenue0.00%0.00%0.00%0.00%0.00%General Fund SubsidySolid Waste Enterprise24.45%1.18%0.80%0.10%-0.25%Our Island Home EnterpriseN/A1.18%0.80%0.10%-0.25%Projected Inc (Dec)-5.5%-1.9%0.65%2.03%2.29%
General Fund Operating Expense Decline in Town & School Spending as % Yr/Yr General Fund Operating Expense General Fund Operating Expense Decline in Town & School Spending as % Yr/YrDecline in Town & School Spending as % Yr/Yr-30.00%-20.00%-10.00%0.00%10.00%20.00%30.00%20052006200720082009201020112012201320142015Town Salaries & Operating ExpensesSchool Salaries & Operating Expenses
-40.00%-20.00%0.00%20.00%40.00%60.00%2006 2007 2008 2009 2010 2011 2012 2013 2014 2015Medical InsuranceGeneral InsuranceBCRS RetirementGeneral Fund Operating Expense Instability in Insurance & Retirement as % Yr/Yr General Fund Operating Expense General Fund Operating Expense Instability in Insurance & Retirement as % Yr/YrInstability in Insurance & Retirement as % Yr/Yr
General Fund Decline in Enterprise Fund Subsidy as % Yr/Yr General Fund General Fund Decline in Enterprise Fund Subsidy as % Yr/YrDecline in Enterprise Fund Subsidy as % Yr/Yr-20%0%20%40%60%80%100%2009 2010 2011 2012 2013 2014 2015SWEF SubsidyOIH Subsidy
FY12 Budget Cycle Next StepsFY12 Budget Cycle Next StepsFY12 Budget Cycle Next Steps• September 2010– AD Hoc Budget Workgroup Begins Discussions– Issuance of Budget Instructions to Department Heads– Department Head Budget WorkshopOctober 2010– Ad Hoc Budget Workgroup Continues Discussions– Capital Project Committee Begins to Review Capital Requests– Further Refinement of Projections– Quarterly Review of FY2011 SWEF, SEF, and OIH Budgets– Review of Health Insurance Budget History• November 2010– Further Refinement of Projections based upon Department Submittals to Town Administration & Finance– Town Administration & Finance Review Options to Deliver a Balanced Budget • December 2010– Town Administration Presents FY2012 Budget Recommendations