Canton, Massachusetts · Saved source text
FINCOM 20200210 Mtg. Documents
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Canton Finance Committee Meeting February 10, 2020 Meeting Documents Please note: Some meeting documents may be found on the Town's website under the Posted Minutes section (Laser Fiche). Agenda for February 10, 2020 (1 page). Canton Public Schools — FY21 Operating Budget dated February 10, 2020 (17 pages), Canton Public Schools — FY21 Budget Request — Summary (4 pages). Superintendent's Budget Message for FY21(6 pages). Strategic Framework 2019-2024 (2 pages). Revenue Estimates for FY 2021 General Fund Operating Budgets, prepared by Randy Scollins, Finance Director for the Finance Committee, dated 2/9/20 (11 pages). ATM Warrant (45 pages). Active Employees — FY2020 Annual Base Salary and CY 2019 Gross Pay Salary (25 pages). FINCOM 201200210 Minutes Page 4 of 4 2/16/2020
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® Unused Levy Capacity— Mr. Scollins stated that the FY21 estimate of zero was a decision recommended by the Board of Assessors. At the time of the classification hearing for setting the tax rate, the state within in a day of this hearing finally certified the Town's new growth. There was debate over new growth associated with a very large property in Town given the purchase price of the property. Ultimately the state decided that the new value associated with that property was indeed new growth, which added approximately $900,000 to what could have been taxed in this fiscal year. The Board of Assessors recommended not to tax the property in this year but in FY21. Mr. Scollins' recommendation would have been to collect the $900,000 from the taxpayer because the Town has the need for these taxes to help fund some one-time capital projects. As a result the tax bills will be artificially low for this year. e The Town of Canton has historically spent $1.9 million less in local receipts than what the Town generates with the intention of recharging its free cash reserves. ® Transfers from Other Funds —The new ambulance for next year will not be able to be funded out of ambulance receipts. The Town will have to borrow for the ambulance purchase. ® Fixed Costs — Since the RFC meeting, the Blue Hills Regional School (BHRS) Assessment estimate for FY21 has been reduced by $71,097 to reflect the final budget number provided by the BHRS Business Manager. The Town Insurance estimate for FY21 has been increased by $46,204 to reflect a net increase of $100,000 over the current fiscal year as per information from the Town's insurance carrier. Mr. Scollins reviewed the spreadsheet that described the process used to establish operating budget targets. A motion made by Ms, Saint Andr6 to recommend $46,419,604 as the FY21 School operating budget target number was seconded by Mr. Mauro. Vote: 8-0-0, This represents a 5.2% increase over the prior year budget. A motion made by Ms. Saint Andre to recommend $22,862,135 as the FY21 Municipal operating budget target number was seconded by Mr. Mauro. Vote: 8-0.0. This represents a 5.0% increase over the prior year budget. The FY21 estimated total deficit of $2,071,429 for the General Fund is comprised of various articles and capital projects that will be utilizing free cash reserves and reserve funds at Annual Town Meeting 2020. Vote - Article 18 — Increase the Special Education Reserve Account A motion made by Ms. Saint Andr€ to recommend that $500,000 be transferred from free cash to the Special Education Reserve Account at the Annual Town Meeting was seconded by Ms. Thomas. Vote: 8-0-0. This is a $200,000 decrease from last year's ATM recommendation of a $700,000 transfer. The Committee was in agreement to post the annual salary report without names to the Committee's website. No vote was taken. The mitigation accounts would be discussed with the Town Accountant at the next meeting. D. Old Business - There was no comment from the public at the meeting. E. Approval of Minutes - There were no minutes approved at the meeting. F. Next Meeting Date: The next Finance Committee meeting would take place on February 12, 2020 at 7:00 p.m. in the Saiah Meeting Room. Adjournment: A motion made by Ms. Saint Andre to adjourn the meeting at 9:22 p.m. was seconded by Mr. Clough. Vote: 8-0-0. Minutes viewed b ristos Arsondiadis Respec.r�et mitte , Tim McKenna Chair, Canton Finance Committee FINCOM 201200210 Minutes Page 3 of 4 2/16/2020