Town of Medway
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Transcript of Town of Medway
Town of MedwayState of the Town
Fall Town MeetingNovember 14, 2011
Board of Selectmen:John Foresto, ChairmanGlenn Trindade, Vice-ChairmanDennis Crowley, ClerkRichard Dunne, MemberAndrew Espinosa, Member
The State of the TownIndependent auditor’s report:Melanson, Heath & Company
“With regard to regular stabilization and fiscal stability, Medway is in the top 10% of comparable communities.”
Free Cash & Stabilization Fund HistoryYear Stabilization
Fund % of Budget Free Cash % of Budget
2002-2003 689,533 2.15 1,111,626 3.46
2003-2004 760,894 2.13 201,529 0.56
2004-2005 583,361 1.54 (870,290) (2.30)
2005-2006 583,361 1.43 (867,855) (2.13)
2006-2007 399,617 0.96 (1,886,744) (4.52)
2007-2008 769,135 1.85 1,864,934 4.48
2008-2009 2,117,499 4.64 1,743,848 3.82
2009-2010 2,148,896 4.72 2,027,149 4.46
2010-2011 2,967,359 6.08 1,196,814 2.45
FY10 Free Cash Allocation as voted at 2011 ATM
Item Amount
Fund to Snow & Ice Deficit 329,000Road and Sidewalk Repairs 407,914Firearm Replacement 14,400Flashing for Memorial School 22,500Fiber Area Network 95,000Technology Equipment 45,000Police/Fire Communication Center Furniture 14,000Corridor Ceiling Replacement–Burke School 25,00018 Passenger Bus for COA 60,000Unexpended Free Cash Balance 200,000
$1,196,814
Funds and Reserve Balances as of June 30, 2011
Stabilization Funds $3,523,152
Fiscal Stability Account $ 682,627(Required by deficit financing legislation)
Grand Total Reserves $4,205,779
Current Debt Position – FY11
AA- Positive Bond Rating (S&P)
Total All Debt – $34,017,490 Enterprise Fund Debt – $7,015,650 FY12 General Fund Debt Service – $2,895,656 FY12 General Fund Debt Ratio – 7%
Deficit Financing Balance - $1,000,000
FY 2011 Accomplishments
CERTIFICATION AS A GREEN COMMUNITYThrough the collaborative efforts of town departments and the Energy Committee.
One of 74 communities in state to receive this designation.Eligible for energy efficiency and renewable energy
initiative grants through the State Dept. of Energy and Environmental Affairs, Green Communities Division.
Received grant award of $158,000 as a result of this designation.
FY2011 Accomplishments (continued)
Launched Medway GIS program.Completed recycling center improvements.Reached 25% design for Route 109 reconstruction.Restructured debt resulting in $800,000 savings.Renovated police and fire communications center.Received federal grant to acquire firefighting
simulation training trailer.
FY 2011 Accomplishments (continued)
School Department• Medway Public Schools named as one of the top 50 districts in state
by Boston Magazine .• Medway Middle School repair project approved and project has
begun.• Medway Middle School solar panel installation completed.• Medway Middle School named Commendation School for MCAS
Achievement 2011.• Completed technology upgrades. • Created new in-district special education programs.• Increased collaboration with other districts, including shared food
service director and ESL teacher.• Hired new principal and special education director.
FY11 Major Capital Improvement ProjectsCompleted Industrial Park Sewer Extension Project.Replaced Highland St water tank.Repaired/replaced Town Hall roof.Installed automated water
meter reading system.Continued roadway and
sidewalk improvements, including Milford, Pond, Shaw, West, and Mechanic Streets.
FY12 Major Capital Improvement ProjectsBegin work with FEMA to design Brentwood drainage
improvements.Continue design of Rt 109 reconstruction project.Perform stormwater system improvements as mandated
in MS4 permit.Continue Village Street drainage improvements.Continue Brundages Corner roadway/sidewalk/drainage
improvements.Improve Village and Lovering Street sidewalks.Replace West and Main Street water mains.Continue annual roadway improvement plan.
FY 2012 Goals and ChallengesPrepare FY2013 balanced budget.Continue capital investment in the Town’s
infrastructure.Charles River Pollution Control District Capital
Assessment.
FY 2012 & 2013 Projected RevenuesProjected Revenues Adopted FY 12 Projected FY 13
Property Tax $28,369,209 $28,938,009
State Aid $11,239,924 $11,242,130
Local Receipts $1,944,444 $1,944,444 Operational Stabilization Transfer $235,345
Total Revenues $41,787,922 $42,124,583
FY 2011 & 2012 Projected ExpendituresProjected Expenditures FY 12 FY 13
Education (includes Tri-County) $24,224,056 $24,827,883 General Government $2,075,066 $2,125,961 Town-Wide Government $9,677,327 $9,950,077 Public Services $1,510,556 $1,545,027 Public Safety $2,732,197 $2,755,305 Health & Human Services $289,713 $298,709 Culture & Recreation $367,954 $384,572 State Assessments/Monetary $911,053 $811,533 Total Expenditures $41,787,922 $42,699,067 Total Revenues (previous slide) $41,787,922 $42,124,583 Projected Budget Gap -$574,484
FY11 Town State and Federal Grants
Chapter 90 $318,237GATRA $77,765 Route 109 Design $300,000FEMA Assist Firefighters $168,435Brentwood Hazard Mitigation $510,539Others (10) $103,581
SubTOTAL $1,478,557School, State, and Federal (17) $2,676,209
TOTAL $4,154,766
Capital NeedsSummary
FY2013-2017
Department of Public Services $ 23,431,000*Public Safety $ 56,239Schools $ 2,780,251Library $ 220,000General Government $ 1,023,130
Total Projected 5-Year Capital Improvement Plan $27,510,620
*Road and sidewalk repair budget for the period - $3,750,000
Questions and Answers