05/03/2010 Annual Town Meeting - Laserfiche WebLink

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Budget Note 12: Pensions and Unemployment: (+`$186,022) A 9.7% increase in employee pension and unemployment contributions has been projected for the coming year. Each year $60,000 is budgeted to pay for the town's portion of unemployment claims: however as seen in Article 3 of the Special Meeting, when budgetary cut -backs result in employee lay- offs, supplemental funds are needed to pay the added claims. Budget Note 13 1VIedical:Insurance and Medicare: (- $190,314) For the first time in many years, the premiums for medical insurance will decline in the coming fiscal year. The municipality has made a concerted effort to switch employees from indemnity plans to less costly plans with no loss of coverage, enrolled retirees in Medicare Part B plans, and diligently kept track of all plan changes and beneficiary changes to reduce costs. The Finance Committee commends the Human Resources Department and the School administration in their efforts to control these costs, which now are 12.25% of the annual operating budget. Budget Note 14 General Insurance (+ $76,323) Insurance costs have increased in the areas of worker's compensation and coverage on two additional municipal buildings, i.e., the fire sub -station and the new library. Budget Note 15: Total General Expense Appropriations: (- $152,079) Thanks to the decreases in debt service and medical insurance premiums, the total appropriations in this category of municipal expenses have been decreased by 1.2% from last year. Budget Note 16: Total Municipal Appropriations: (- $794,137) The decrease in the FY 11 municipal operating budget which begins on July 1, 2010, represents a 1.7% decrease from last year's FY 2010 budget. THE FINANCE COMMITTEE RECOMMENDS ADOPTION OF THE FY 2011 BUDGET. Vote: 5-0. Budget Note 17: Budget Overlay While this line item is not voted upon, it is a component in the budget in detennining the total operating budget for the year. This is basically a "reserve" fund for unpaid taxes or taxes that are returned to property owners as a result of tax appeals. Mashpee's tax collection rate was an excellent 98 % in 2009. Budget Note 18: Cape Cod Regional Tee School: (+ $73,298). This line will be voted upon separately as Warrant Article #4. Budget Note 19: Capital Improvements: ($22,764) This line will also be voted upon separately as Warrant Article #3. The list of capital purchases proposed is included as part of Article #3. Budget Note 20 TotahFiscal.,Year"Ap pro priations-. (- $680,021) The total budget for Fiscal Year 2011 is $48,337,923, a decrease of 1.4% from the FY 2010 Town Meeting approved budget. You will note that this amount appears in the table "Calculation of Projected Property Tax Rate" as Line B. Total Budget Appropriations under the Heading: FY 2011. This total budget minus the total non -property tax revenues equals the amount to be raised through property taxes. This amount when divided by the total property assessments equals the tax rate per $1,000 of assessed property value. 11