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Home My WebLink About2017 YTDFY2017 YTD General Fund UpdateSix Months Ended December 31,YTD VarianceFY2017 YTD Revenue by Source - Excluding Real Estate & Property Taxes FY2017 YTD Financial HighlightsRevenue By SourceFY2017 Budget FY2017 Actuals FY2016 Actuals to Budget YTD/YTD ($) YTD/YTD (%)Real Estate & Property Taxes 74,200,967$ 34,173,132$ 33,390,809$ (40,027,835)$ 782,323$ 2%Excise Tax - Motor Vehicles 2,150,000 522,113 433,969 (1,627,887) 88,144 20%Excise Tax - Other (Meals, Rooms) 4,106,470 4,438,295 4,405,673 331,825 32,622 1%Charges for Services 44,600 22,323 22,777 (22,277) (454) (2%)Fees & Rentals 1,127,035 758,640 912,441 (368,395) (153,801) (17%)License & Permits 1,457,050 760,476 752,508 (696,574) 7,969 1%State Local Aid 3,178,487 1,645,438 1,339,235 (1,533,050) 306,203 23%Other Intergovernmental 244,800 180,556 184,346 (64,245) (3,791) (2%)Miscellaneous 342,535 107,340 1,007,465 (235,195) (900,125) (89%)Transfers & Other Sources - 309,650 35,307 309,650 274,343 777%Total86,851,944$ 42,917,962$ 42,484,528$ (43,933,982)$ 433,434$ 1%Revenue by FunctionFY2017 Budget YTD FY2017 YTD FY2016 Var to Budget YTD/YTD ($) YTD/YTD (%)General Government 85,965,904 42,466,859 40,965,021 (43,499,045) 1,501,838 4%Safety & Protection 567,450 270,851 285,924 (296,599) (15,072) (5%)Marine & Coastal Resource 211,150 141,389 233,154 (69,761) (91,765) (39%)Local Revenue by Department Budget vs. ActualMaintenance 107,440 18,494 152,375 (88,946) (133,881) (88%)Human Services - 6,500 6,150 6,500 350 6%Transfers & Other Sources - 13,603 841,905 13,603 (828,302) (98%)YTD Revenue by Dep't - Excl. Real Estate & Property Taxes (FY17 vs FY16)Total86,851,944$ 42,917,696$ 42,484,528$ (43,934,248)$ 433,168$ 1%(265.93)$ Local Revenue by Dep'tFY2017 BudgetYTD FY2017YTD FY2016Var to BudgetYTD/YTD ($)YTD/YTD (%)Revenue For Six Months Ended December 31, 20166.0%50.8%0.3%8.7%8.7%18.8%2.1% 1.2% 3.5%Motor Vehicle ExciseOther Excise (Meals, Rooms)Charges for ServicesFees & RentalsLicense & PermitsState Local AidOther Intergov'talMiscellaneousTransfers & Other Sources0% 50% 100%•Revenue excluding real estate and property taxes earned during the first half of FY2017 is largely made up of excise taxes from the peak tourist season on the island. The 2nd quarter Rooms Tax payment came in over budget, which brings the YTD total basically flat compared to last year over the same period. •By contrast, there was a sharp increase to motor excise taxes collected as compared to the same quarter last year.Total General Fund Revenue was up 1%. •YTD Revenue by Source - a slowing growth in major local receipts categories•Local receipts, including all excise taxes, charges for services, fees & rentals, as well as license & permits, were down 0.4% YTD.•Motor vehicle excise taxes were up 20% over the same period last year, while meals tax was up 6% and rooms tax was up 2%.•Fees and Rentals were lower in the YTD period because of a timing issue in the payments of slip rentals in FY16 (repairs to Town Pier).•Building Permits were up 8% in the YTD period over FY16.Important note: Revenue remains a projection until certified by the Department of Revenue (DOR). Local Revenue by DeptFY2017 BudgetYTD FY2017YTD FY2016Var to BudgetYTD/YTD ($)YTD/YTD (%)Town Administration 494,650 303,793 341,838 (190,857) (38,046) (11%)Finance & Operations 9,633,637 6,956,713 6,319,830 (2,676,924) 636,883 10%Town Clerk 53,150 36,321 27,344 (16,829) 8,977 33%Planning and Land Use Services 1,557,400 985,867 868,548 (571,533) 117,319 14%Police 510,500 243,871 261,029 (266,629) (17,157) (7%)Fire 56,950 26,980 24,895 (29,970) 2,085 8%Marine & Coastal Resource 211,150 141,389 233,154 (69,761) (91,765) (39%)Natural Resources 26,100 11,033 16,652 (15,067) (5,619) (34%)Public Works (DPW) 37,940 1,485 118,873 (36,455) (117,388) (99%)Town Gas 69,500 17,009 33,502 (52,491) (16,493) (49%)Human Services - 6,500 6,150 6,500 350 6%Miscellaneous Recurring - 5,600 5,600 5,600 - -Miscellaneous Non-Recurring - 8,003 836,305 8,003 (828,302) (99%)Total12,650,977$ 8,744,564$ 9,093,720$ (3,906,413)$ (349,156)$ (4%)Total General Fund RevenueFY2017 BudgetYTD FY2017 YTD FY2016Var to BudgetYTD/YTD ($) YTD/YTD (%)86,851,944$ 42,917,962$ 42,484,528$ (43,933,982)$ 433,434$ 1%0% 50% 100%Town AdministrationFinance & OperationsTown ClerkPlanning and Land Use ServicesPoliceFireMarine & Coastal ResourceNatural ResourcesPublic Works (DPW)Town GasHuman ServicesMiscellaneous RecurringMiscellaneous Non-RecurringYTD FY2016 YTD FY2017 FY2017 YTD General Fund UpdateSix Months Ended December 31,YTD VarianceGeneral GovernmentFY2017 Budget FY2017 Actuals FY2016 Actuals to Budget YTD/YTD ($) YTD/YTD (%)Top Expenditure Breakdown (FY2017 YTD) Expenditures as % of Budget Spent (FY2017 YTD)Finance Committee 18,680$ 6,080$ 6,133$ (12,600)$ (52)$ (1%)Finance & Operations 2,370,839 852,036 987,517 (1,518,803) (135,481) (14%)Human Resources 271,949 102,346 94,091 (169,604) 8,254 9%Information Systems / GIS 955,059 467,602 285,789 (487,457) 181,814 64%Legal / Town Counsel 468,602 167,717 157,785 (300,885) 9,932 6%Moderator 1,680 178 - (1,502) 178 naPlanning & Land Use Services 1,829,070 778,591 786,439 (1,050,479) (7,848) (1%)Town Administration 1,604,876 682,454 515,829 (922,422) 166,625 32%Natural Resources 654,052 246,167 226,342 (407,886) 19,825 9%Town Clerk 343,360 173,523 128,904 (169,837) 44,619 35%Total8,518,167$ 3,476,692$ 3,188,828$ (5,041,475)$ 287,863$ 9%Safety & ProtectionFY2017 Budget YTD FY2017 YTD FY2016 Var to Budget YTD/YTD ($) YTD/YTD (%)Emergency Management 7,075$ 1,367$ 696$ (5,708)$ 671$ 96%Fire Department 2,992,011 1,280,984 1,282,231 (1,711,027) (1,247) (0%)Police & Animal Control 6,070,403 2,482,457 2,646,977 (3,587,946) (164,520) (6%)Street Lighting 165,000 35,299 41,267 (129,701) (5,968) (14%)Total9,234,489$ 3,800,106$ 3,971,171$ (5,434,383)$ (171,064)$ (4%)Marine & Coastal ResourcesFY2017 Budget YTD FY2017 YTD FY2016 Var to Budget YTD/YTD ($) YTD/YTD (%)Marine Department 820,581$ 497,097$ 488,554$ (323,484)$ 8,543$ 2%Total820,581$ 497,097$ 488,554$ (323,484)$ 8,543$ 2%$OOperating Expenditures For Six Months Ended December 31, 201624%18%14%12%9%9%8%4%3%EducationIntergov'tInsuranceDebt ServiceState & Retirement Ass.Safety & ProtectionGeneral Gov'tMaintenanceAll Others41%41%61%37%29%52%54%50%MaintenanceFY2017 BudgetYTD FY2017YTD FY2016 Var to BudgetYTD/YTD ($)YTD/YTD (%)YTD Operating Expenditure HighlightsGas / Town Vehicles 446,033$ 99,894$ 102,804$ (346,139)$ (2,911)$ (3%)Mosquito Control 105,063 65,386 73,764 (39,677) (8,378) (11%)Public Buildings 1,198,038 334,483 351,344 (863,555) (16,861) (5%)Public Works 2,958,805 1,270,535 1,364,977 (1,688,270) (94,442) (7%)Snow & Ice Removal 151,590 33,176 48,192 (118,414) (15,017) (31%)Total4,859,528$ 1,803,474$ 1,941,082$ (3,056,054)$ (137,608)$ (7%)Human ServicesFY2017 Budget YTD FY2017 YTD FY2016 Var to Budget YTD/YTD ($) YTD/YTD (%)Human Services 436,967$ 126,789$ 129,466$ (310,178)$ (2,677)$ (2%)Total436,967$ 126,789$ 129,466$ (310,178)$ (2,677)$ (2%)Culture & RecreationFY2017 Budget YTD FY2017 YTD FY2016 Var to Budget YTD/YTD ($) YTD/YTD (%)Atheneum 702,165$ 351,083$ 346,720$ (351,083)$ 4,363$ 1%Town Clock 4,777 1,484 214 (3,293) 1,270 594%Visitor Services 472,440 259,604 228,739 (212,836) 30,865 13%Total1,179,382$ 612,170$ 575,672$ (567,212)$ 36,498$ 6%Other ExpendituresFY2017 Budget YTD FY2017 YTD FY2016 Var to Budget YTD/YTD ($) YTD/YTD (%)Debt Service Principal 5,566,241$ 4,198,733$ 4,182,197$ (1,367,508)$ 16,535$ 0%Debt Service Interest 1,513,824 919,155 816,861 (594,669) 102,295 13%Group Insurance 12,052,110 4,818,022 4,277,122 (7,234,088) 540,900 13%General Insurance 1,860,263 1,083,503 1,025,916 (776,760) 57,587 6%State & Retirement Assessments 4,348,557 4,125,607 3,516,062 (222,950) 609,545 17%Contractual Obligations 386,611 - - (386,611) - naIntergovernmental 8,000,985 7,692,785 7,105,000 (308,200) 587,785 8%Education 27,348,866 10,283,860 10,428,878 (17,065,006) (145,018) (1%)Total61,077,457$ 33,121,664$ 31,352,036$ (27,955,793)$ 1,769,628$ 6%Total General Fund Expenses FY2017 Budget YTD FY2017 YTD FY2016 Var to Budget YTD/YTD ($) YTD/YTD (%)86,126,569$ 43,437,991$ 41,646,808$ (42,688,578)$ 1,791,184$ 4%Total General Fund Expenditures during the half of FY2017 represented exactly 50% of the full year budget.General Gov't expenses in the first half of FY17 were up approx. $288,000 or 9% over the same period last year. This change is mainly due to: (i) professional services for IT/GIS, including the annual contract with MUNIS for $113,000, (ii) professional services for Town Administration, including $25,000 for the NRTA, $29,000 for the purchase of 2 storage sheds for the Nobadeer Fields as well as on‐call OPM services charged to this year's budget. In addition, Town Clerk saw increased expenses due to federal elections and the impact of early voting requirements (including new voting machines).Safety & Protectionexpenses were up 4% over the same quarter last year. The decrease is largely due to police vehicles purchased in FY16 and not in FY17.Maintenanceexpenses were down 7% over the first half, mainly driven by a decrease in DPW spending, more specifically lower seasonal and permanent salaries, lower spending on snow removal as well as the purchase of new equipment in the first half of FY16.Culture & Recreation expenses saw an overall increase over the same period last year (+6% or $36,498). Town clock rental fees were recorded for FY17 while there were none in FY16. Visitor services ended the first half with slightly higher expenses due to payroll changes.Other Expenditures were impacted by some timing differences.Important note: A budget with carry forward includes any encumbrances of prior year funds into the next fiscal year and any ATM or Reserve Fund Transfers.