FY2019 Manager's Proposed Budget

February 15, 2019

From: Kris Tucker, Town Manager

Re:    Town Budget for FY2019

This letter accompanies the Manager’s Proposed Budget for FY2019, the fiscal year that begins July 1, 2018.

This budget recognizes the prior-year financial condition of the Town as reported in the latest audited financial statements. Those documents show a General Fund balance of $4,281,352 on June 30, 2017 which includes an Unassigned General Fund balance of $2,922,835 plus $53,860 Non-spendable, $113,584 in Restricted, $625,051 in Committed Reserves, and $566,022 assigned for subsequent year’s expenditures which includes $500,000 for use of Fund Balance. For FY2019 we expect non-tax revenue to rise slightly over the previous year.

This budget proposes a total municipal spending of $9,645,678, a $853,008 increase over last year’s approved budget. The share of the expenditure committed to the property tax would be $3,302,990, an increase of $618,351 over last year’s budget. These numbers reflect the reality of rising costs that need to be addressed to meet the service demands of our residents.

This budget would propose a 5% base raise for employees, with an additional 3% for employees whose salaries are 15% lower than the position average in comparable regional departments. This adjustment is in line with the Town’s efforts to retain a skilled and competent workforce in a time of low interest in municipal careers and escalating regional wage competitiveness. This budget also adds four new employees to Public Safety, to help bring staff up to federally mandated levels, and to better meet drastically increased call volume. There is also a new position proposed in Public Works, to meet labor shortfalls, and a part-time maintenance position, to be shared between Parks and Rec and other Town facilities, filling a long-time need. These actions reflect the recommendations of the Council’s Committee on Personnel. This budget also includes proposed capital spending to replace aging equipment, repair and improve our roads, maintain and improve recreation trails, and move forward with mandated software upgrades.

This document does not contain an estimate for the MSAD#6 School Assessment. That assessment will be added to the document when it is received.

This budget proposal will receive a Public Hearing in March followed by Council and Budget Committee review actions. The final document will reflect the policy choices of the Council and Budget Committee and will be submitted to the voters at the annual Town Meeting in June.

PDF icon FY 2019 Manager Budget756.63 KB