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<br /> somm,_q �' PROJECTED 1 SAX, d'a �(
<br /> 1 RATE " r
<br /> Because state revenues to municipalities are not finalized until the State Legislature approves the State's
<br /> FY budget,the amount listed here is an estimate provided by the State. The final amount will be changed
<br /> accordingly when the State budget has been finalized.
<br /> _77]? '"1` MIROM',y}
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<br /> The final total of the town's revenues from fees and permits will not be available until the town closes its
<br /> books on the FY `10 year on June 30th. While the actual Municipal Receipts used in the FY 10 budget "1 i;
<br /> were some$2,535,500,because there have been essentially across the board reductions in municipal
<br /> revenues in FY 10, anticipated receipts of$2,000,000 are being used for this FY 11 budget year. In FY
<br /> 09 the top 5 sources of municipal revenue were: 1). Motor Vehicle Excise Taxes($1,868,396); 2. Trash „ ,.•"
<br /> Disposal Fees ($583,164); 3.Permits and Licenses($488,042); 4). Earnings on Investments: ($487,299); '
<br /> 5.Other Fees($145,114).
<br /> I'
<br /> K S r T N, `Free Gash" I%
<br /> To supplement non-property tax revenues, $1,519,867 in surplus funds are being appropriated in this
<br /> budget. The"free cash"balance starting the FY 11 year will be approximately$205,000. The majority of !
<br /> "free cash"is generated by municipal departments not spending their allotted appropriations during the +'
<br /> year;the remaining amount is under-anticipated municipal revenues.
<br /> OherableMni¢ipal Finds
<br /> Ambulance receipts,betterment reserves, cable television receipts,Medicaid reimbursements, overlay
<br /> reserves and Community Preservation Act funds totaling$2,192,145 are being appropriated as non- t'
<br /> property tax revenues in this budget.
<br /> The non-property tax.funds being applied against this FY 'I I budget total$11,085,999,which is
<br /> $1,833,605 less than was used in calculating last year's tax rate.
<br /> TQta1 Budget Ap�royprt�tions '�
<br /> As presented in the "Summary of Municipal Appropriations"table the FY '11 budget is $48,337,923,
<br /> including Capital Improvement expenditures, the assessment for the Cape Cod Regional Technical ;;"
<br /> School,and the Budget Overlay,which is a reserve for uncollected or refunded taxes. This budget is
<br /> $929,818,or 1.9%, lower than this budget approved at last May's Town Meeting.
<br /> Amount to be,Raised by Property Taxes
<br /> The anticipated tax levy as a result of the proposed budget minus the anticipated non property tax h ;
<br /> revenues will be $37,251,924. This amount is $820,421, or 2.3%,more than was raised last year. This ,
<br /> Year,because of reduced revenues,property taxes will fund 77% of the municipal budget.
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<br /> ota1 Property Assessments
<br /> In projecting last year's tax rate, the Finance Committee assumed a 6 % decrease in the total of property y ` '''V '
<br /> assessments to calculate the projected tax rate of$7.70/$1,000 of assessed value-a$0.71 increase from i
<br /> the prior year's rate. When the final tax rate was struck last December, the actual decrease in property
<br /> assessments for the year was down ° t tax rate came in at 7.79/$1000. This was$0.09 I,
<br /> b 6.2 and he $
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<br /> y
<br /> higher than the projected rate, and$0.80 above the prior year's actual tax rate. t '
<br /> For purposes of calculating a projected tax rate resulting from the approval of this budget,the FinCom is
<br /> anticipating a further decrease of 5.5% in the overall total of property assessments bringing the total
<br /> value down to approximately$4,420,000,000.
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