Meeting Minutes

 

Title:               Budget Committee Meeting

Date:               Wednesday, April 06, 2011

Location:        Westport Island Town Office Conference Room, 4:00 pm

Subjects:         5-year Look-ahead, Fire Truck, Education Cost Sharing

 

Objective:       Discuss 5-Year Look-Ahead Forecast Update, discuss Roads and Bridges history and projection. Review and plan a schedule for the balance of the fiscal year.

 

 

Proposed Agenda:

 

Topic

 

Type

Responsibility

Time

 

Review agenda and time durations and approve any changes.

Discussion

Consensus

All

4 :00

5 Min.

Action Item Review

Discussion

Consensus

All

4 :05

10 min

March Meeting Minutes Review

Discussion

Consensus

All

4 :15

10 min

Update Education Account History and Forecast and Cost Sharing Factors Review by School Board

Discussion

Consensus

All

4 :25

10 min

Discuss TPL Grant Proposal and Possible Land Acquisition Warrant Articles

Discussion

Consensus

All

4 :35

10 min

Discuss 5-Year Look-Ahead Forecast and 2010 Census

 

Discussion Consensus

All

4 :45

20 min

Budget Committee Schedule Status Reporting

Discussion

Consensus

All

5 :05

10 min

Other Items (Snow Removal Contract Bid, Storage Vault Cost,  etc)

Discussion

All

5 :15

5 min

Public Comment

Discussion

Public

5 :20

5 min

Wrap up

Discussion

Consensus

Secretary

5 :25

5 min

 

Attendees:       David Blake, Dennis Dunbar, Bill Hopkins, Stan Lane, Mort Mendes, Susan Partelow and Gary Webber           

Facilitator:       Stan Lane

Secretary:        Dennis Dunbar

 

 


Minutes from the April 6, 2011

Meeting of the Budget Committee

 

 

The meeting was called to order by Chairman, Dennis Dunbar at 4:09 PM.  The following members/alternates were present: David Blake, Dennis Dunbar, Bill Hopkins, Mort Mendes, Stan Lane, Gary Webber and Susan Partelow..

 

The following preliminary items were discussed by Dennis:

·        A review of the meeting agenda.

·        Deferred discussion Compensation Analysis and Recommendations

 

The Draft Minutes from March meeting were reviewed and approved.

 

Dennis reported on the letter sent to Greg Potter and staff at RSU-12 outlining cost sharing “Guiding Principals” and specific recommendations for an update to the cost sharing formula starting in FY 12-13. A cost sharing formula based on 80% weighting for pupil count and 20% weighting for State Assessed Valuation of the member towns results in a cost share for Westport Island that is consistent with the cost incurred as an independent tuition town.  Also shown were an initial projection of the Town’s cost, should it withdraw from RSU-12 and revert to an independent school district/ tuition town.  If the RSU fails to equitably adjust the cost shares, as proposed, a citizens group is likely to form, as was done in Wiscasset, to explore options.

 

Bill Hopkins reviewed the “Westport Island Coastal Initiative” for the possible acquisition of 202 acres of land now held by the Barrett family.  The Trust for Public Lands has an 18-month option to purchase the land for $1.35M and has started the process of applying for grants that, together with private donations and a contribution from the Town of $75,000, would allow the purchase to proceed.  Two referendum questions will be put before the voters to approve the Town accepting the title to the land and to approve the $75,000 contribution, which is to be borrowed from Maine Bond Bank or another bank.  95% of the funding for this project will be outside funds.

 

Dennis reviewed the 2010 census data for Westport Island.  Population for year around residents dropped from 745 to 718 from 2000 to 2010.  Housing units, however, increased from 510 to 535.  It appears that the loss in year around residents can be largely attributed to loss of students, more deaths than births, and more seasonal residents.

 

The Five Year Look Ahead was reviewed.  Based on municipal appropriations only adjusted for inflation, coupled with the increase in education (caused by depletion of carry forwards this year) and the increase in the “catch-up” loan payment (covering a full fiscal year) the mill rate is expected to increase by approximately 20%. (From 6.35 mills to 7.55 mills).  Should the Wright house by sold, a savings of 0.07 mills could result.  Potential additions to the municipal appropriations, including payments for a new fire truck ($8K), possible increase in snow removal (~$10K), a reserve for a comprehensive reassessment ($5K - $20K) and town landing maintenance ($3K) may add $26K to the commitment, which would increase the mill rate next year to 7.65 mills.

 

The schedule for completion of the budget planning for FY 11-12 was reviewed and assignments discussed.  It was agreed that Bill Hopkins would trade assignment with Stan Lane for Facilities and Equipment articles and Protection Articles respectively.  Bill also agreed to work with David on Highways, Bridges and Snow Removal articles.

 

The Roads and Bridges account actual and projections were reviewed based on actual cost data thru March.  Costs are expected to exceed appropriations by about 15%, which is the limit allowed by law.  Revenue also exceeded the forecast, largely due to Excise Tax receipts.  Actual costs were projected to exceed revenue by just over $1000.

 

No other business was brought before the Committee.

 

No public comments were made (no public attended)

 

The next meeting date was set for Wednesday, 4 May at 4:00 pm at the Town Office.

 

Respectfully Submitted

 

Dennis Dunbar

Recording Secretary

 

 

 


7 April, 2011

Mr. Greg Potter

Superintendent of RSU-12

69 Augusta Road

Whitefield, Maine 04353

 

Dear Mr. Potter,

 

The School Board Finance Committee representative from Westport Island requested that the Westport Island Budget Committee provide inputs to the process of reviewing and updating cost sharing provisions in accordance with the Consolidation Plan.  The Westport Island Budget Committee has been reviewing the cost sharing formula and its equity and is pleased to offer the suggestions and recommendations discussed herein.

 

As you know, the current plan’s cost sharing provisions were intended to retain the share of local contributions seen in the year prior to consolidation for the first three years after consolidation, allowing the School Board time to deliberate on a longer term cost sharing approach.  We are pleased to see the School Board and its Finance Committee undertaking that effort and commend the Board and your office for reaching out to the member communities and calling for participation in the process.

 

Finding a cost sharing formula that equitably distributes cost to member towns is, indeed, a difficult challenge.  The broad range of demographics in the member towns makes the challenge especially difficult.  At the extremes, Westport Island, with high state assessed valuations, low student counts and low average family incomes and Windsor, with low state assessed valuations, high student counts and higher average family incomes makes the problem especially difficult.  It is clear that the current cost sharing formula that results in a cost per student of $13,132 in Westport Island and $3,589 in Windsor is not equitable.  As you know, our current allocated cost for FY 10-11 is $1,155,581. This can be compared to our actual cost in FY 08-09 of $820,973, based on an independent audit of our actual taxpayer funded expenditures.  That is a 40% education cost increase, resulting from joining the RSU, which is just not acceptable to taxpayers.

We wish to offer some “Guiding Principals” from the Westport Island point of view:

1.       No town should be asked to pay more to be a member of the RSU then they would pay not being a member.  (Eliminates incentive for towns to withdraw from the RSU)

2.       The cost per pupil for any town should not be more than 50% above or below the average for all towns. (Precludes unreasonable cost differentiation while recognizing “ability to pay” adjustments)

3.       For students tuitioned outside the RSU by parent choice, the responsible town should pay the tuition rate for that outside school or the formula rate (cost per student), whichever is larger. (Ensures that towns and parents are incentivized to use the RSU schools to reduce costs for all)

4.       In the event the base year FY 08-09 costs are used in the cost sharing formula, actual independently audited costs should be used in lieu of the budget estimates used in the current formula. (Actuals reflect the true cost, and the fundamental intent of the original agreement)

 

In reviewing approved consolidation plans for other RSUs, the most common cost sharing approach uses pupil count as a primary metric for distribution.  Some combination of pupil count and state assessed valuation would seem the most equitable for the towns in RSU-12.  By using a formula that is weighted 80% based on student count and 20% based on state assessed valuation, the allocated cost to Westport Island would be $849,351 providing for 88 students. (See attached table generated using the DOE model for cost sharing)

 

As a point of reference, the actual independently audited costs for Westport Island in FY 08-09, the last year prior to consolidation, was $820,972 based on 101.5 students.  Had Westport Island remained an independent tuition paying town, our cost for FY 11-12 is estimated to have been $832,779 assuming 88 students.  Attached is a table showing the budget and actual costs for the base year of FY 08-09 and the projection for FY 11-12 had we remained an independent tuition paying town. 

 

Recommendations:

 

1.       Adopt the “General Principals” noted here.

2.       Adopt a basic cost sharing formula based on an 80% weighting on pupil count and 20% weighting based on state assessed valuation for each member town.

3.       For FY 11-12 and FY 12-13, adjust shares in the current formula based on the actual independently audited costs for FY 08-09. (data is available for each town)

4.       For FY 13-14 and on, begin the transition towards the 80/20 weighted formula as follows:

a.       FY 13-14, 75% current adjusted shares and 25% 80/20 share formula

b.      FY 14-15, 50% current adjusted shares and 50% 80/20 share formula

c.       FY 16-17, 25% current adjusted shares and 75% 80/20 share formula

d.      FY 17 and on, 100% 80/20 share formula

5.       Eliminate the Taxation Distribution Safety Net (3% safety net) provisions (13-B paragraph D)

 

 

Again, thank you for the opportunity to provide our inputs to your reassessment of the cost sharing formula.With Best Regards,

 

 

Dennis Dunbar

Chair, Westport Island Budget Committee

6 Fowles Point Road

Westport Island, ME 045

 

 

 



TOTAL LOCAL RAISED FOR EDUCATION:

$13,627,138.00

 

 

 

State Valuation

 

Name of

(Fiscal Capacity)

Student Count

 

Municipality

ED 281 Section D

 

Percent

ED 281 Section D

 

Alna

84,000,000

5.42%

112.0

Chelsea

156,400,000

10.10%

411.0

Palermo

179,850,000

11.61%

245.0

Somerville

52,750,000

3.41%

81.0

Westport

241,750,000

15.61%

88.0

Whitefield

185,500,000

11.98%

375.0

Windsor

181,650,000

11.73%

399.0

Wiscasset

466,850,000

30.14%

552.0

$1,548,750,000.00

100.00%

2,263.0

ESTIMATED LOCAL SHARES:

 

 

 

 

 

 

 

 

 

 

 

 

 

80%

 

20%

 

100% STATE VALUATION (Fiscal Capacity)

100% PUPILS

Pupils

 

State Valuation

 

Amount

 

Percent

Amount

 

Percent

Amount

 

Percent

 

Alna

$739,099

5.42%

$674,432

4.95%

$687,365

5.04%

Chelsea

$1,376,132

10.10%

$2,474,924

18.16%

$2,255,166

16.55%

Palermo

$1,582,464

11.61%

$1,475,320

10.83%

$1,496,749

10.98%

Somerville

$464,137

3.41%

$487,759

3.58%

$483,034

3.54%

Westport

$2,127,109

15.61%

$529,911

3.89%

$849,351

6.23%

Whitefield

$1,632,177

11.98%

$2,258,143

16.57%

$2,132,949

15.65%

Windsor

$1,598,302

11.73%

$2,402,664

17.63%

$2,241,791

16.45%

Wiscasset

$4,107,719

30.14%

$3,323,986

24.39%

$3,480,732

25.54%

TOTAL

$13,627,138

100.00%

$13,627,139

100.00%

$13,627,138

100.00%

 

 

 

 

 

 

 

 

 

 

 

 

 

 


                 Estimate of Reverting to Independent Tuition Town for FY 13

(For Discussion Only)

Cost Elements

FY 08-09 Base Year

(101.5 Students)

FY 11-12

(88 Students)

Budget

Actual

Estimate

Notes

Tuition and Special Services Paid to Wiscasset School District

Elementary Program (K-8)

 

 

 

 

Tuition

469,463.66

375,660.16

447,200

 52 students at a tuition of $8,600

Special Services-Tuition

77,964.36

55,248.80

77,400

   9 students at a tuition of $8,600

Professional  Services

12,000.00

101,714.75(7)

12,000

Assume same as planned

 

559,428.02

532,622.71

536,600

61 students, 15% Special Ed.

Secondary Program

 

 

 

 

Tuition

377,739.60

271,986.75

132,000

15 students at a tuition of $8,800

Special Services-Tuition

126,780.77

122,089.53

105,600

12 students at a tuition of $8,800

Professional Services

7,000.00

5,048.75

7,000

Assume same as planned

 

511,520.37

399,125.03

244,600

27 students, 45% Special Ed.

Total Paid to Wiscasset School District

1,070,948.39

931,747.74

781,200

 

 

Westport School District Operating and Transportation Costs

School Committee

8,527.00

11,861.41

9,000

Estimate based on FY 08-09

Office of Superintendent

30,500.00

32,025.83

33,000

Estimate based on FY 08

Transportation

69,053.00

55,830.28

60,000

Estimate based on FY 08

Total Westport Operating and Transportation Costs

108,080.00

99,717.52

102,000

 

 

Total Westport School District Education Cost

1,179,028.39

1,031,465.26

883,200

88 students assumed

(same as FY 10-11)

 

Subsidies (State, MaineCare, Special Elementary, etc.)

-94,446.00

-210,492.18

-50,421

Estimate based on DOE ED 729, Line 50 for FY 10-11

Total Local Contribution (TLC)

$1,084,582.39

$820,973.08

$832,779

$9,463 per student

Notes: 

1. Independent Audit Performed by William H Brewer, CPA and submitted on January 4th 2010

2. Actual number of students in FY 08-09: 101.5

3. Actual cost per student: $8,088.40

4. Current number of students in FY 10-11: < 88.5 (FY 09-10 level)

5. FY 10-11 assessed cost per student:  > $13,000 ($1,155,581/88.5)

6. Assumes FY 12-13 Elementary and Middle students: 61 at a Tuition Rate of $8,600 and High School Students: 27 at a Tuition Rate of $8,800.

7. Unusually high special services costs for 2 special needs students. Costs were reimbursed by the state.

 

 

 


Westport Island Coastal Initiative

 

The Opportunity - A 202 acre parcel, including 2,495 feet of Sheepscot Bay waterfront and extensive freshwater wetlands, came on the market.  The sellers are interested in conservation and contacted the Trust for Public Lands and signed an 18-month option agreement for purchase of the land on behalf of the town of Westport Island for conservation (Option price of $1.35M). 

 

The Action Planned -TPL has applied for grants from the CELCP program ($675K) and from LMF ($300K), both of which are in review.  The town will ask voters for some match funds at our upcoming June town meeting ($75K).  We will also be working, in the months ahead, with the Maine Wetlands Protection Coalition and applying for NAWCA and Coastal Wetlands grants. 

 

The Benefits to the Town - This "Westport Island Coastal Initiative" is clearly a valuable large unbroken habitat area with a great deal of conservation and recreation value.  It is one of the largest undeveloped parcels remaining in the mid-coast area and the largest undeveloped parcel on Westport Island. Our town has had one of the largest losses in open space: "Gorham, Orono, Brewer, Cumberland and Westport, among others, all lost over 75% of their developable rural acreage."

 

The Plan Proposed by the Conservation Commission - The plan is for the town of Westport Island to retain title in fee for the property and for a local land trust to hold a conservation easement.  Both the Kennebec Estuary Land Trust and the Sheepscot Valley Conservation Association are offering to hold and manage the easement.

 

Referendum Articles -

 

Article X - Shall the Town of Westport Island accept title to 200+ acres of coastal land, across from the Town Hall and Squire Tarbox Inn, (commonly referred to as the "Barrett/Hopkins property"), Tax Map 4 Lot 9, as conservation land for public recreation, including hiking, hunting, fishing and boating and for protection of natural resources, habitat, wetlands and our ground water aquifer? 

The land would be acquired through a combination of grants applied for by the Trust for Public Lands from federal and state funds, private donations, and monies the Town may vote to appropriate.

 

Article Y - Shall the Town of Westport Island allow the Selectmen to apply for a loan of $75,000. for funds to be used in support of the acquisition of the conservation property, Tax Map4 lot-9, with a term 20 years or more, at favorable market rates.

The use of monies from this loan to be contingent upon a successful accumulation of funds from all other sources sufficient, together with the loan proceeds, to allow the purchase of said conservation property by the Trust for Public Lands and title transfer to the Town.

 

 

The Cost Estimate –

 

Category

Federal Share from CELCP

State/Local Matching Share

Total

Funding Source (Non-federal share)-        Cash or in-kind value from land

Funding Already Expended

(yes/no) When?

Land Acquisition

 

 

Project Expenses

 

Stewardship Endowment

$ 675,000

 

 

 

 

 

 

$    5,000

 

 

$ 675,000

 

 

$   50,000

 

$    5,000

$   675,000

 

$   675,000

 

 

$    50,000

 

$    10,000

 

  

NOAA-CELCP

 

(LMF, In lieu fee, local, private)

 

Private

No

 

No

 

 

No

TOTAL PROJECT COSTS:

$680,000

$730,000

   $1,410,000

 

 

 

Our Town Contribution Financing Approach:  95% Grants and 5% Town -

 

Option

Amount

($)

Term

(Yrs)

Interest

(%)

Annual Cost ($)

FY 11-12

FY 12-13

 

FY 13-14 & on

Notes

1

55K

20

3.5

0

3,828

3,828

 

2

55K

30

4.0

0

3,151

3,151

 

3

75K

20

3.5

0

5,220

5,220

Selected Option

4

75K

30

4.0

0

3,761

3,761

 

5

95K

20

3.5

0

6,612

6,612

 

6

95K

30

4.0

0

5,442

5,442

 

 

Notes:

 

1.  Loan closes on 1 July, 2012, with first payment due at closing. 

2.  Interest rate and term subject to revision based on market conditions and with consideration of use of the Maine Bond Bank or local banks. 

3. Interest rate assumed to be a fixed rate for the term of the loan

 


 

2010 Census Data

Year

Census

Population

Census

Housing Units

School Population

(Reference)

1980

420

330

85

1990

663

399

106

2000

745

510

117

2010

718

535

88

 

Note: Population declined by 27 people in 2010, and student count declined by 29 children, accounting for most of the population loss.

 


 

5-Year Look Ahead for Municipal Appropriations

General Government Worksheet

 

                                                      

FY 10-11

FY 11-12

FY  12-13

FY 13-14

FY 14-15

FY 15-16

Comments

Current Base

$300,314

$307,822

$315,517

$323,405

$331,490

$339,777

Inflation of 2.5% (Moodys)

Potential Additions

 

 

 

 

 

 

 

     Fire Truck

-

$8,000

$8,000

$8,000

$8,000

$34,500

See Engine-2 financing

     Westport Is. Coastal Init.

-

-

$6,704

$6,546

$6,424

$6,298

See Maine Bond Bank Est.

     Increase in Snow Cont.

-

$10,000

$10,000

$10,000

$10,000

$10,000

Assume10% Increase

     Town Landing Maint.

-

$3,000

$3,000

$3,000

$3,000

$3,000

Float & ramp maint.

     Reassessment Reserve

-

$5,000

$5,000

$10,000

$10,000

$30,000

$60K per George/Eugene

     Storage Vault/Offsite

-

TBD

 

 

 

 

 

     Sand and Salt Facility

-

 

TBD

 

 

 

 

    Transfer Rt. 144 to town

-

-

-

TBD

TBD

TBD

 

Total Additions

-

$26,000

$32,704

$37,546

$37,424

$83,798

 

Potential Deletions

 

 

 

 

 

 

 

     Sale of Wright House (1)

-

-

-$18,850

-$18,850

-$18,850

-$18,850

 

 

 

 

 

 

 

 

 

Lower Bound Estimate

 

 

 

 

 

 

 

Excluding Sale of House

$300,314

$307,822

$315,517

$323,405

$331,490

$339,777

Inflation of 2.5%

Including Sale of House

$300,314

$307,822

$296,667

$304,555

$312,640

$320,927

Savings of $18,550

Upper Bound Estimate

$300,314

$333,822

$348,221

$360,951

$368,914

$423,575

Excluding TBD items

     Notes: 1. Savings include elimination of loan principal and interest of $27,612 less rent received of $730/mo.                                                    

 

6 April, 2011


Westport Island Appropriations 5-Year Look Ahead

 For Property Tax Commitment

 

Commitment

 Items \ Fiscal Year

FY-2007

7/1/06-6/30/07

FY-2008

7/1/07-6/30/08

FY-2009

7/1/08-

6/30/09

FY-2010

7/01/09-

6/30/10

FY-2011

7/01/10-

6/30/11

FY-2012

7/01/11-

6/30/12

FY-2013

7/01/12-

6/30/13

FY-2014

7/01/13-

6/30/14

FY-2015

7/01/14-

6/30/15

FY-2016

7/01/15-

6/30/16

Notes on Forecast

Methodology and Assumptions

General Government

$246,748

 $291,997

$311,743

$304,749

$300,314

$307,822

$333,822

$315,517

$348,221

$323,405

$360,951

$331,490

$368,914

$339,777

$423,575

Lower Bound      DD

Upper Bound

County Tax

 

$184,855

$213,634

$232,125

None-Catch-up Year

$245,874

$250,000

$255,000

$260,000

$265,000

$270,000

Assume $5K per year growth rate            SP

Catch-up Loan (2)

-

-

-

-

$154,598

$264,997

$264,997

$264,997

$264,997

$110,415

SP/DD

Education

 

$940,694 (1)

$768,728 (1)

$854,834 (1)

$1,035,664 (1)

$979,773 (1)

$1,155,000

$1,091,250

$1,183,875

$1,027,500

$1,213,472

$963,750

$1,243,809

$900,000 (3)

$1,274,904 (4)

Lower Bound      RD

Upper Bound      DD

Overlay

 

$35,000

$61,394

$63,359

$15,727

$26,986

$30,000

$30,000

$30,000

$30,000

$30,000

SP

Total Assessment

$ 1,407,296

$1,335,753

$1,462,061

$1,335,727

$1,679,578

$2,007,819

$2,033,819

$1,956,764

$2,082,093

 

$1,905,902

$2,129,420

$1,855,237

$2,172,720

$1,650,192

$2,108,984

 

Assessed Valuation

$271,747,912

$261,662,579

$262,258,474

$264,500,462

$264,500,462

$266,000,000

$267,500,000

 

$269,000,000

$271,000,000

$273,000,000

Increase $1.5M in FY12-14 then $2M

Mill Rate

 

5.30

4.94

5.42

5.05

6.35

7.55 (+19%)

7.65

7.32

7.78

7.08

7.92

6.85

8.02

 

6.04

7.72

 

 

Notes:

 

(1) Actual spending for education was higher in each of these years because part of our cost was transferred from “Education Reserves”.  In FY-07, $40,000 was paid from reserves and in FY-08, $404,664 was drawn down and in FY-09, $228,784 was drawn down.  For FY-10, Total Local Contribution was $1,224,716 and FY-11 is $1,155,581 with $364,860 carry forward from actual tuition costs from FY-09 (as tuition town) covering the difference.

 

(2) Loan amount is $1,335,000 with a monthly payment of $22,083.08.  First payment was planned for June, 2010.  Unexpended fund balance will be invested in an interest bearing account.

 

(3) Education cost reduction based on an assumed new cost sharing agreement that transitions to a formula that includes cost per pupil in the “80/20” weighing. Estimate is provided by Richard DeVries from the School Board Finance Committee.

 

(4) Education cost is assumed, in this case, to increase at a 2.5% inflation factor.

 

(5) If Wright house sale in included, mill rate drops by 0.07 mills.

 

 

3 April 2011

Budget Committee Schedule

 

 

Budget Committee Schedule

 

 

 

 

 

 

Group

 

Assignment

Assigned to

1

Compensation Articles

(4-9)

Mort

2

Committee Expenses

(10 – 13)

Bill

3

Facilities and Equipment Articles

(14 - 21)

Stan

4

Outside Services and Contingency Articles

(22 - 25)

Susan

5

Highways, Bridges and Snow Removal Articles

(26 - 29)

David

6

Protection Articles

(30 - 34)

Bill

7

General Assistance & Service Organizations Articles

(35 & 36)

Gary

8

Misc. Items & LD-1 Cap

(37 – 39)

Dennis

 


5 April, 2011

Roads and Bridges Accounts Forecast for FY 2010-11

 

FY 10-11

Authorization

(1 Jul

- 30 Jun)

FY 10-11

Actuals

(1 Jul

-31 March)

FY 10-11 Forecast

(1 April

-30 Jun)

FY 10-11

Total

(1 Jul

-30 Jun)

Forecast Assumptions

Costs

 

 

 

 

 

   Road Maintenance

65,000

76,072

13,700?

89,572

Forecast is low based on FY 09-10 actual spending for April-June– HIGH RISK!

   Spring Grading

-

0

0

0

 

   Paving

25,000

25,450

0

25,450

Spent by Reynolds, GE

   Street Lights & Signs

-

345

155

500

 

   Other

-

0

0

0

 

   Snow Removal Contract

73,400

58,720

14,680

73,400

Forecast equals budget

   Salt

1,700

1,668

32

1,700

Forecast equals budget (credit adjusted out)

   Sand

16,800

18,396

0

18,396

Forecast assumes no more sand required

Total Costs

181,900

180,601

28,567

209,168

($209,185 is 15% above $181,900)

 

 

 

 

 

 

Revenue

 

 

 

 

 

   Raised by Warrant Article

10,000

10,000

0

10,000

 

   Excise Tax Receipts

106,900

92,637

30,878

123,515

Forecast equals 3/9 times actual (3 months to go and 9 months complete)

   State Support (URIP) Transfer

45,000

20,295

6,765+ 17,940

45,000

17,940 is a drawdown from URIP carry- forward balance

   Reserve Account Transfer

10,000

10,000

0

10,000

 

   FEMA Grants

TBD

19,608

0

19,608

Receipts from FY 09-10 winter storms

Total Revenue

171,900

152,540

55,583

208,123

 

 

 

 

 

 

 

Over (-)/Under (+) Spent

-10,000

 

 

-1045

 

Balance Forward from Prior Year

12,953

 

 

2953

 

Balance Forward to Next Year

2,953

 

 

1,908

 

 

Notes:  1. URIP State Highway Account, as of mid February 2009, had $56,896 and should receive another $15,020 by the end of the prior fiscal year.  That is in addition to the $27,468 in the Ferry/Parsons Road Project Account.  (Needs update from Susan)