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FY2014 General Fund Update RevenueRevenue by Source Budget Actual (As of 9/30/2013) Last Year (LY) Actual (As of 9/30/2012) % to Budget Revenue by Source Budget vs. Actual Real Estate & Property Taxes 66,246,000$ 17,049,950$ 19,087,002$ 26% Excise Tax 5,374,674$ 2,173,754$ 363,333$ 40% Charges for Services 83,315$ 13,217$ 19,579$ 16% Fees & Rentals 1,346,250$ 405,556$ 361,050$ 30% License & Permits 993,617$ 337,093$ 212,020$ 34% State Local Aid 1,633,513$ 300,036$ 107,953$ 18% Other Intergovernmental 224,170$ 58,646$ 19,495$ 26% Miscellaneous 254,386$ 43,012$ 138,289$ 17%Transfers & Other Sources -$ 502,640$ 516,384$ 100% Total 76,155,925$ 20,883,903$ 20,825,105$ 27% Revenue by Function Budget Actual (As of 9/30/2013) LY Actual (As of 9/30/2012) % to Budget General Government 74,983,925$ 20,542,362$ 20,492,312$ 27% Safety & Protection 618,463$ 110,371$ 68,178$ 18%Marine & Coastal Resource 215,507$ 20,396$ 26,670$ 9% Maintenance 290,590$ 203,429$ 223,508$ 70%Local Revenue by Department Budget vs. Actual Human Services 37,440$ 4,546$ 11,638$ 12% Transfers & Other Sources 10,000$ 2,800$ 2,800$ 28% Total 76,155,925$ 20,883,903$ 20,825,105$ 27% Local Revenue by Department Budget Actual (As of 9/30/2013) LY Actual (As of 9/30/2012) % to Budget Town Administration 400,775$ 176,081$ 55,198$ 44% Finance & Operations 7,141,435$ 2,991,873$ 1,048,984$ 42% Town Clerk 70,950$ 20,084$ 12,022$ 28% Planning and Land Use Services 1,124,765$ 304,375$ 289,107$ 27% Police 571,433$ 96,711$ 57,348$ 17% Fire 47,030$ 13,660$ 10,830$ 29% Marine & Coastal Resource 215,507$ 20,396$ 26,670$ 9%Public Works (DPW)227,840$ 189,604$ 209,409$ 83% Town Gas 62,750$ 13,825$ 14,099$ 22% Human Services 37,440$ 4,546$ 11,638$ 12% Miscellaneous Non-Recurring -$ -$ -$ 0% Miscellaneous Recurring 10,000$ 2,800$ 2,800$ 28% Total 9,909,925$ 3,833,954$ 1,738,103$ 39% Total General Fund Revenue Budget Actual (As of 9/30/2013) LY Actual (As of 9/30/2012) % to Budget 76,155,925$ 20,883,903$ 20,825,105$ 27% FY14 General Fund Update Revenues As of September 30, 2013 87% 7% 0% 2% 1% 2% 0% 1% 0% Real Estate & Property Taxes Excise Tax Charges for Services Fees & Rentals License & Permits State Local Aid Other Intergovernmental Miscellaneous Transfers & Other Sources Important notes: Revenue remains a projection until certified by the Department of Revenue (DOR). Revenues are shown from two perspectives, total revenue and local revenue by department. The key difference is total revenue includes real estate and personal property tax revenue. Local revenue by department includes locally generated revenue such as fees, charges, permits, and local options tax. Total General Fund Revenues for FY 2014, as we see from the comparison with the same period a year ago, are up 0.28% as compared to the same period in FY2013. The reason for the increase is a 498.28% increase in Excise Tax Revenues in FY2014 compared to FY2013, as well as a 177.93% increase in State Local Aid in FY2014 over FY2013. The biggest increase in revenues in the Local Revenue by Department category in the Town Administration, where revenues increased by 219% in FY2014 due to a $73,600 increase in Revenues from Sale of Liquor Licenses. Finance Department revenues are up 185.22% due to the aforementioned 498.28% increase in Excise Tax Revenues in FY2014 over the same period in FY2013. Police Revenues have increased by 68.64% in FY2014 over FY2013 as Parking Fines Revenues have grown 272.84%. Revenues in the Fire Department have grown 26.13% in FY2014 over FY2013 as Fire Inspection Smoke Detectors revenues have increased by 40.91%. The Planning and Land Use Services Department Revenues (which includes Planning, Building, Health, Code Enforcement and Historic District Commission) are up 5.28% due to a 18.96% increase in Building Permit Revenues, as well as a 24.15% increase in revenues from Filing Fees. The biggest decline in revenues in the Local Revenues by Department category is in the Marine Department, where revenues are down 23.53% in FY2014 over the same period in FY2013. The reason is a $4,950 decline in revenues from sales of Ice. The Public Works Department Revenues are down 9.46% in FY2014, as compared to FY2013 due to timing of a $35,000 payment from Chapter 81- State Highway. We will continue to monitor the revenues closely to ensure that the departments experiencing positive growth continue in a sustainable way. 0% 50% 100% Town Administration Finance & Operations Town Clerk Planning and Land Use Services Police Fire Marine & Coastal Resource Public Works (DPW) Town Gas Human Services Miscellaneous Non-Recurring Miscellaneous Recurring Budget Actual (As of 9/30/2013)