Canton, Massachusetts · Saved source text
Fiscal Year 2018 Comprehensive Annual Financial Report
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Source page 121
CHANGES IN NET POSITION
LAST TEN FISCAL YEARS
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
General Revenues and other Changes in Net Position -
Governmental activities:
Real estate and personal property taxes,
net of tax refunds payable…………………………………………………. $ 49,643,467 $ $ 52,922,668 $ $ 54,892,887 $ 56,128,582 $ 58,966,309 $ 61,423,003 $ 63,720,607 $ 67,168,983 $ 72,087,049 $ 74,151,256
Tax liens………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………
186,291 210,666 349,982 597,670 421,708 591,950 213,952 204,512 220,189 301,286
Motor vehicle excise taxes…………………………………………………… 3,170,275 3,082,341 3,286,609 3,101,266 3,914,171 3,380,408 4,385,878 4,376,168 4,581,480 4,707,385
Penalties and interest on taxes…………………………………………….. 246,950 317,161 305,814 263,511 323,695 344,012 310,740 254,164 314,625 364,795
Payments in lieu of taxes……………………………………………………………… 194,559 199,299 199,225 219,205 224,311 214,543 222,149 225,405 231,040 236,816
Hotel and meals taxes……………………………………………………………… - - - 38,309 460,905 568,317 581,621 601,227 593,076 603,821
Grants and contributions not restricted to specific programs………………………………………………………………
2,727,082 2,165,199 2,201,430 2,026,227 2,202,728 2,776,692 2,213,169 2,013,767 2,099,870 2,180,123
Unrestricted investment income……………………………………………. 488,112 212,187 195,037 166,466 201,635 194,375 218,877 246,862 359,644 521,199
Insurance recoveries……………………………………………………………… - - - - - - - 2,190,705 - -
Miscellaneous……………………………………………………………… 245,317 312,573 471,501 382,614 188,275 - - - - -
Transfers……………………………………………………………… 1,009,929 1,054,170 1,101,525 1,166,968 1,063,245 1,232,584 - (1,824,747) 34,042 (500,000)
Total governmental activities…………………………………………………………………
57,911,982 60,476,264 63,004,010 64,090,818 67,966,982 70,725,884 71,866,993 75,457,046 80,521,015 82,566,681
Business-type activities:
Unrestricted investment income……………………………………………. - - - - 16,768 20,083 27,019 38,296 50,296 98,038
Transfers……………………………………………………………… (1,009,929) (1,054,170) (1,101,525) (1,166,968) (1,063,245) (1,232,584) - 1,824,747 (34,042) 500,000
Total business-type activities….………..………………………………….. (1,009,929) (1,054,170) (1,101,525) (1,166,968) (1,046,477) (1,212,501) 27,019 1,863,043 16,254 598,038
Total primary government general revenues and other
changes in net position…………………………………………………. $ 56,902,053 $ 59,422,094 $ 61,902,485 $ 62,923,850 $ 66,920,505 $ 69,513,383 $ 71,894,012 $ 77,320,089 $ 80,537,269 $ 83,164,719
Changes in Net Position
Governmental activities……………………....…………………………….. $ (3,059,763) $ (6,043,030) $ (6,211,904) $ (3,551,415) $ (4,134,672) $ (2,458,893) $ 7,238,057 $ 3,632,656 $ 711,514 $ 2,587,494
Business-type activities……………………....…………………………….. (624,476) 607,199 967,504 142,959 16,028 1,731,149 2,927,378 3,769,349 1,192,307 1,539,295
Total primary government changes in net position……………………………………….
$ (3,684,239) $ (5,435,831) $ (5,244,400) $ (3,408,456) $ (4,118,644) $ (727,744) $ 10,165,435 $ 7,402,005 $ 1,903,821 $ 4,126,789
(concluded)
Town of Canton, Massachusetts Page 113 of 128 Comprehensive Annual Financial ReportSource page 122
FUND BALANCES - GOVERNMENTAL FUNDS
LAST TEN FISCAL YEARS
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
General Fund:
Nonspendable……………………………….$ - $ - $ - $ - $ - $ - $ - $ - $ 7,252 $ 15,376
Restricted………………………………. 7,167,329 6,595,314 6,033,902 5,483,092 5,160,240 - - - - 15,918
Committed…………………………….. 166,540 240,545 202,643 328,343 470,608 358,148 364,246 886,722 923,152 1,026,447
Assigned…………………………….. 1,233,461 1,363,064 1,165,952 456,548 361,035 893,993 793,408 1,846,942 876,862 1,599,273
Unassigned…………………………… 5,784,251 5,193,760 5,825,529 7,118,096 8,276,920 9,815,657 11,430,875 12,961,775 16,128,195 17,224,537
Total general fund……………………………..$ 14,351,581 $ 13,392,683 $ 13,228,026 $ 13,386,079 $ 14,268,803 $ 11,067,798 $ 12,588,529 $ 15,695,439 $ 17,935,461 $ 19,881,551
All Other Governmental Funds:
Nonspendable……………………………….$ 338,785 $ 356,385 $ 394,385 $ 404,785 $ 419,585 $ 432,785 $ 445,985 $ 471,585 $ 489,185 $ 511,185
Restricted………………………………. 7,628,322 7,744,716 6,504,706 7,000,533 8,707,938 11,544,545 10,939,315 10,584,773 11,869,527 14,510,055
Unassigned…………………………… (1,077,197) (1,116,827) (1,301,454) (1,735,507) (468,758) (1,187,828) (632,310) (2,674,755) (156,123) (117,756)
Total all other governmental funds……………..
$ 6,889,910 $ 6,984,274 $ 5,597,637 $ 5,669,811 $ 8,658,765 $ 10,789,502 $ 10,752,990 $ 8,381,603 $ 12,202,589 $ 14,903,484
Note: The Town implemented GASB 54 in fiscal year 2011. All previous years (2009 - 2010) data presented were restated to conform to the GASB 54 presentation.
Town of Canton, Massachusetts Page 114 of 128 Comprehensive Annual Financial ReportSource page 123
CHANGES IN FUND BALANCES - GOVERNMENTAL FUNDS
LAST TEN FISCAL YEARS
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
Revenues:
Property taxes, net of tax refunds…………………………………………………….
$ 49,516,225 $ $ 52,217,093 $ $ 55,345,629 $ 56,246,748 $ 59,063,932 $ 61,544,401 $ 63,767,588 $ 67,223,724 $ 71,943,571 $ 74,255,762
Tax title……………………………………………………………………………. 187,083 193,859 224,631 371,909 219,962 782,539 351,721 147,456 172,988 297,266
Motor vehicle and other excise taxes………………………………………… 3,515,812 3,080,023 3,289,549 3,165,288 3,473,978 3,714,753 4,119,643 4,555,904 4,505,384 4,703,198
Hotel and meals taxes…………………………………………………… - - - 38,309 460,905 568,317 581,621 601,227 593,076 603,821
Charges for services……………………………………………………… 1,552,111 1,611,311 1,704,553 1,598,646 1,474,669 1,580,929 1,627,494 1,747,854 2,028,754 2,108,925
Penalties and interest on taxes………………………………………246,950 317,161 305,814 263,511 323,695 344,012 310,740 254,164 314,625 364,795
Payments in lieu of taxes…………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………
194,559 199,299 199,225 219,205 224,311 214,543 222,149 225,405 231,040 236,816
Fines and forfeitures…………………………………………… 165,991 139,458 165,051 134,626 109,411 141,311 113,467 119,540 92,821 114,905
Intergovernmental…………………………………………………….. 20,586,005 18,613,887 17,825,334 20,571,148 19,712,460 20,403,915 16,564,548 19,102,008 20,785,945 22,693,271
Intergovernmental - school construction grants……………………………………..
7,167,329 - - - - - 1,206,545 - - 600,762
Departmental and other………………………………………………. 2,827,470 3,394,781 2,768,345 2,971,011 3,456,976 4,073,470 4,119,749 4,506,265 3,539,653 4,423,606
Licenses and permits……………………………………….. 452,758 658,905 646,450 912,233 1,043,909 817,829 1,282,441 1,035,070 1,142,116 1,235,156
Contributions……………………………………………………………. 256,730 416,991 362,965 349,244 398,308 2,146,011 1,245,410 488,456 857,270 482,910
Investment income……………………………………………………….. 429,449 187,717 167,170 141,807 142,946 163,941 171,180 198,226 301,356 456,202
Total Revenue…………………………………………………
87,098,472 81,030,485 83,004,716 86,983,685 90,105,462 96,495,971 95,684,296 100,205,299 106,508,599 112,577,395
Expenditures:
General government…………………………………………………………….
4,706,731 4,187,558 4,062,501 3,811,225 3,905,506 4,255,876 3,980,026 3,936,471 3,938,757 3,480,942
Public safety……………………………………………………………… 9,285,602 9,364,149 9,427,684 9,579,726 10,087,953 10,630,184 10,724,190 11,138,061 11,386,263 12,781,717
Education………………………………………………………………… 33,314,956 34,967,636 36,008,019 35,975,887 37,524,669 39,417,729 40,479,930 42,896,291 44,863,583 47,531,743
Public works…………………………………………………………….. 3,548,575 4,125,380 4,353,404 3,845,990 4,449,435 4,503,498 5,515,513 5,592,699 5,494,358 5,665,258
Health and human services…………………………………………………………..
697,221 767,077 805,351 861,386 853,534 892,603 1,182,773 1,106,152 1,152,349 1,105,044
Culture and recreation…………………………………………………1,784,546 1,771,572 1,830,239 1,818,050 1,793,002 1,880,085 2,062,646 2,647,844 2,493,339 2,587,654
Pension benefits…………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………
9,901,744 10,482,808 11,104,953 11,325,041 11,733,329 11,915,349 7,321,245 9,802,225 12,480,279 13,538,094
Employee benefits…………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………
8,482,345 9,107,798 9,973,437 10,403,739 10,327,387 11,152,708 11,675,327 11,482,452 12,083,049 13,061,838
State and county charges………………………………………… 924,550 932,878 849,149 874,821 959,538 959,868 944,583 927,338 995,573 1,015,303
Capital outlay and other……………………………………………………………….
7,296,078 2,495,021 3,771,064 6,577,524 2,369,095 2,930,119 8,445,932 6,844,641 5,203,195 5,138,643
Debt service:
Principal……………………………………………………………… 3,929,020 3,947,750 4,029,141 4,306,220 4,385,178 4,520,404 3,819,900 3,931,624 3,821,850 3,871,933
Interest……………………………………………………………………. 2,010,966 1,955,945 1,838,977 1,661,391 1,677,804 1,619,994 1,166,454 1,061,042 970,237 995,903
Total Expenditures………………………………………………………..
85,882,334 84,105,572 88,053,919 91,041,000 90,066,430 94,678,417 97,318,519 101,366,840 104,882,832 110,774,072
Excess of revenues over (under) expenditures…………………………………………………
1,216,138 (3,075,087) (5,049,203) (4,057,315) 39,032 1,817,554 (1,634,223) (1,161,541) 1,625,767 1,803,323
Other Financing Sources (Uses):
Issuance of refunding bonds…………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………
- - 5,398,612 - - 15,185,400 - 515,000 1,596,000 414,000
Payments of refunded bonds…………………………………………………………….. - - (5,540,000) - - (21,739,649) - (526,148) (1,619,000) (446,000)
Issuance of bonds and notes………………...…………………………………………
3,541,000 1,087,261 1,964,388 2,932,908 2,603,159 175,000 2,861,150 1,367,000 5,455,000 1,792,000
Premium from bonds and notes………………...…………………………………………
85,862 69,122 261,192 136,455 166,242 2,258,843 153,042 11,148 305,990 246,871
Capital lease financing…………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………
82,362 - 62,192 51,211 - - 104,250 - - -
Insurance recoveries……………………………………………………………………………… - - - - - - - 2,354,811 - -
Transfers in……………………………………………………………………………… 2,728,433 2,445,096 2,865,322 2,854,525 3,835,589 3,988,699 1,856,376 2,294,746 2,421,242 2,829,878
Transfers out…………………………………………………………………………… (1,718,504) (1,390,926) (1,513,797) (1,687,557) (2,772,344) (2,756,115) (1,856,376) (4,119,493) (2,387,200) (3,329,878)
Total other financing sources (uses)…………………………………………………………………..
4,719,153 2,210,553 3,497,909 4,287,542 3,832,646 (2,887,822) 3,118,442 1,897,064 5,772,032 1,506,871
Net change in fund balance………………………………………………………………….
$ 5,935,291 $ (864,534) $ (1,551,294) $ 230,227 $ 3,871,678 $ (1,070,268) $ 1,484,219 $ 735,523 $ 7,397,799 $ 3,310,194
Debt service as a percentage of noncapital expenditures……………………………………………….
7.56% 7.23% 6.96% 7.07% 6.91% 6.69% 5.61% 5.28% 4.81% 4.61%
Town of Canton, Massachusetts Page 115 of 128 Comprehensive Annual Financial ReportSource page 124
ASSESSED VALUE AND ESTIMATED ACTUAL VALUE OF TAXABLE PROPERTY BY CLASSIFICATION AND TAX RATES
LAST TEN FISCAL YEARS
Assessed Value Tax Rates
Ratio of
Total Total State Assessed to
Fiscal Residential Commercial Industrial Personal Commercial Town Equalized Equalized Residential Commercial Average
Year Value Value Value Property Value Value Value Value Tax Rate Tax Rate Tax Rate
2009 $ 3,234,696,626 $ 429,321,664 $ 389,319,700 $ 120,258,560 $ 938,899,924 $ 4,173,596,550 $ 4,487,449,500 93.01% $ 9.98 $ 19.68 $ 12.16
2010 3,032,221,732 455,712,638 378,970,320 122,726,290 957,409,248 3,989,630,980 4,487,449,500 88.91% 10.83 21.77 13.46
2011 3,044,468,807 442,405,763 360,889,000 126,905,510 930,200,273 3,974,669,080 4,386,215,300 90.62% 11.55 23.04 14.24
2012 3,063,743,888 432,654,082 333,946,500 124,249,390 890,849,972 3,954,593,860 4,386,215,300 90.16% 11.91 24.23 14.69
2013 3,080,898,534 433,793,536 330,412,500 126,558,890 890,764,926 3,971,663,460 4,131,231,300 96.14% 12.30 24.99 15.15
2014 2,971,728,949 427,533,191 343,409,000 141,947,970 912,890,161 3,884,619,110 4,131,231,300 94.03% 12.87 26.53 16.08
2015 3,150,088,016 421,047,184 345,967,900 152,768,400 919,783,484 4,069,871,500 4,083,657,900 99.66% 12.82 26.36 15.88
2016 3,367,549,515 443,366,255 349,329,400 160,467,160 953,162,815 4,320,712,330 4,083,657,900 105.80% 12.79 26.36 15.78
2017 3,508,576,688 459,186,222 358,855,200 171,786,770 989,828,192 4,498,404,880 4,615,563,300 97.46% 12.79 26.34 15.77
2018 3,633,566,271 536,026,099 402,226,020 177,246,290 1,115,498,409 4,749,064,680 4,615,563,300 102.89% 12.42 25.86 15.58
Commercial Value as % of Total Value
26.0%
24.0%
22.0%
20.0%
18.0%
16.0%
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
Source: Official Statements, State Division of Local Services
Note: All property in the Commonwealth of Massachusetts is assessed at 100% of full and fair cash value. The State estimates this "equalized valuation" for all municipalities every two years.
Chapter 59, Section 21C of the Massachusetts General Laws, known as "Proposition 2 1/2", imposes 2 separate limits on the annual tax levy of the Town. The primary limitation is
that the tax levy cannot exceed 2 1/2% of the full and fair cash value. The secondary limitation is that the tax levy cannot exceed the maximum levy limit for the preceding fiscal year
as determined by the State Commissioner of Revenue by more than 2 1/2%, subject to an exception for property added to the tax rolls and for certain valuation increases. This
secondary limit may be exceeded in any fiscal year by majority approval of the voters, however, it cannot exceed the primary limitation.
Town of Canton, Massachusetts Page 116 of 128 Comprehensive Annual Financial ReportSource page 125
PRINCIPAL TAXPAYERS
CURRENT YEAR AND NINE YEARS AGO
2018 2009
Percentage of Percentage of
Total Taxable Total Taxable
Nature of Assessed Assessed Assessed Assessed
Taxpayer Business Valuation Rank Value Valuation Rank Value
Eversource (formerly NSTAR) Utility $ 66,625,160 1 1.40% $ 46,025,350 1 1.10%
Reebok Offices 59,332,500 2 1.25% 43,778,506 2 1.05%
Medical Information Tech., Inc. Offices 52,738,400 3 1.11% 37,191,600 4 0.89%
BAC Canton Holdings LLC (formerly
One Beacon Insurance) Offices 47,058,200 4 0.99% 38,956,800 3 0.93%
Randolph Properties Housing 45,056,200 5 0.95%
Hines Global 250 Royall (formerly
Computershare) Offices 37,334,000 6 0.79% 23,428,900 7 0.56%
Canton Village Shoppes Retail 28,985,900 7 0.61% 30,435,300 5 0.73%
Spirit Canton LLC (formerly Casual Male) Offices 22,025,700 8 0.46%
Boston Mutual Offices 21,047,600 9 0.44% 16,739,900 10 0.40%
Columbia Gas Utility 20,457,730 10 0.43%
Verizon Utility 23,458,900 6 0.56%
Dan Road Building LLC Offices 19,581,200 8 0.47%
JMS Realty Trust Offices 18,265,200 9 0.44%
Totals $ 400,661,390 8.44% $ 297,861,656 7.14%
Source: Official Statements
Town of Canton, Massachusetts Page 117 of 128 Comprehensive Annual Financial ReportSource page 126
PROPERTY TAX LEVIES AND COLLECTIONS
LAST TEN FISCAL YEARS
Tax Levy Collections
Percent of
Less First Year Percent of Delinquent Total Total Tax
Fiscal Total Abatements & Net Current Net Levy Tax Tax Collections to
Year Tax Levy Exemptions Tax Levy Tax Collections Collected Collections Collections Net Tax Levy
2009 $ 50,759,823 $ 283,815 $ 50,476,008 $ 49,631,932 98.33% $ 441,490 $ 50,073,335 99.20%
2010 53,681,761 604,799 53,076,962 52,019,666 98.01% 371,521 52,391,187 98.71%
2011 56,595,429 945,610 55,649,819 54,980,240 98.80% 636,552 55,616,792 99.94%
2012 58,074,485 545,175 57,529,310 56,783,097 98.70% 424,995 57,208,092 99.44%
2013 60,155,267 637,338 59,517,929 58,747,142 98.70% 338,628 59,085,770 99.27%
2014 62,465,167 889,587 61,575,580 61,056,268 99.16% 255,400 61,311,668 99.57%
2015 64,629,621 749,741 63,879,880 63,380,847 99.22% 344,929 63,725,776 99.76%
2016 68,196,330 722,580 67,473,750 66,960,492 99.24% 358,845 67,319,337 99.77%
2017 70,946,770 530,697 70,416,073 69,940,713 99.32% 263,375 70,204,088 99.70%
2018 73,975,682 697,692 73,277,990 72,812,949 99.37% - 72,812,949 99.37%
Source: Accounting Records
Town of Canton, Massachusetts Page 118 of 128 Comprehensive Annual Financial ReportSource page 127
RATIOS OF OUTSTANDING DEBT BY TYPE
LAST TEN FISCAL YEARS
Business-type
Governmental Activities Activities
General General Total Percentage Debt
Fiscal Obligation Capital Obligation Outstanding Personal of Personal U.S Census Per
Year Bonds (1) Leases Bonds (1) Debt Income Income Population Capita
2009 $ 48,417,350 $ 59,764 $ 11,623,368 $ 60,100,482 $ 942,403,000 6.38% 22,048 $ 2,726
2010 45,506,780 41,097 18,914,008 64,461,885 1,050,979,000 6.13% 21,732 2,966
2011 43,253,178 61,227 23,101,280 66,415,685 968,993,208 6.85% 20,097 3,305
2012 41,835,011 58,547 27,692,649 69,586,207 969,066,640 7.18% 20,159 3,452
2013 40,010,850 25,634 29,160,760 69,197,244 993,466,795 6.97% 20,708 3,342
2014 31,039,890 13,022 31,180,694 62,233,606 1,049,031,660 5.93% 21,932 2,838
2015 29,666,327 104,250 29,775,432 59,546,009 1,084,774,372 5.49% 22,276 2,673
2016 26,748,006 84,246 27,631,734 54,463,986 1,107,131,165 4.92% 22,510 2,420
2017 28,307,653 63,827 27,644,494 56,015,974 1,125,784,923 4.98% 22,551 2,484
2018 26,161,059 42,986 24,953,467 51,157,512 1,156,150,065 4.42% 22,817 2,242
Source: U. S. Census, State Division of Local Services
(1) Presented net of original issuance discounts and premiums.
Town of Canton, Massachusetts Page 119 of 128 Comprehensive Annual Financial ReportSource page 128
RATIOS OF GENERAL BONDED DEBT OUTSTANDING
LAST TEN FISCAL YEARS
General Less: Percentage Debt
Fiscal Obligation Amounts Assessed of Assessed U.S Census Per
Year Bonds (1) Available (2) Total Value Value Population Capita
2009 $ 60,040,718 $ (11,241,837) $ 48,798,881 $ 4,173,596,550 1.17% 22,048 $ 2,213
2010 64,420,788 (10,331,918) 54,088,870 3,989,630,980 1.36% 21,732 2,489
2011 66,354,458 (9,431,541) 56,922,917 3,974,669,080 1.43% 20,097 2,832
2012 69,527,660 (8,540,706) 60,986,954 3,954,593,860 1.54% 20,159 3,025
2013 69,171,610 (7,260,823) 61,910,787 3,971,663,460 1.56% 20,708 2,990
2014 62,220,584 (2,860,353) 59,360,231 3,884,619,110 1.53% 21,932 2,707
2015 59,441,759 (2,499,064) 56,942,695 4,069,871,500 1.40% 22,276 2,556
2016 54,379,740 (2,125,785) 52,253,955 4,320,712,330 1.21% 22,510 2,321
2017 55,952,147 (1,740,116) 54,212,031 4,498,404,880 1.21% 22,551 2,404
2018 51,114,526 (1,341,647) 49,772,879 4,749,064,680 1.05% 22,817 2,181
Source: U. S. Census, State Division of Local Services
(1) General obligation bonds consist of debt of both governmental and business-type activities, net of original issuance discounts and premiums.
(2) These are restricted resources from the Massachusetts School Building Authority for debt principal on school construction.
Town of Canton, Massachusetts Page 120 of 128 Comprehensive Annual Financial ReportSource page 129
COMPUTATION OF LEGAL DEBT MARGIN
LAST TEN FISCAL YEARS
(Amounts in Thousands)
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
Equalized Valuation…………………………………..
$ 4,487,450 $ 4,487,450 $ 4,386,215 $ 4,386,215 $ 4,131,231 $ 4,131,231 $ 4,083,658 $ 4,083,658 $ 4,615,563 $ 4,615,563
Debt Limit…………………………..…………………. 224,372 224,372 219,311 219,311 206,562 206,562 204,183 204,183 230,778 230,778
Outstanding general obligation bonds………………. 60,041 64,421 66,354 69,528 69,172 62,221 59,442 54,380 55,952 51,115
Authorized and unissued debt…………………………. 26,434 18,071 18,405 9,305 10,144 6,547 22,881 16,695 15,992 20,072
Debt not applicable to debt limit………………………….(12,780) (15,481) (22,111) (28,735) (30,364) (31,263) (30,212) (28,533) (28,457) (25,574)
Legal debt margin…………………………………………..
$ 150,677 $ 157,361 $ 156,663 $ 169,213 $ 157,610 $ 169,057 $ 152,072 $ 161,641 $ 187,291 $ 185,165
Total debt applicable to the limit
as a percentage of debt limit…………………………………..
32.84% 29.87% 28.57% 22.84% 23.70% 18.16% 25.52% 20.84% 18.84% 19.76%
Source: State Division of Local Services, Accounting Records
Town of Canton, Massachusetts Page 121 of 128 Comprehensive Annual Financial ReportSource page 130
DIRECT AND OVERLAPPING GOVERNMENTAL ACTIVITIES DEBT
AS OF JUNE 30, 2018
Estimated
Estimated Share of
Debt Percentage Overlapping
Outstanding Applicable Debt
Debt repaid with property taxes:
Norfolk County…………………………………………………….. 13,710,000 (a) 3.68% (c) $ 504,528
Subtotal, overlapping debt………………………………………………………………………….. 504,528
Town direct debt……………………………………………………………. 26,204,045
Total direct and overlapping debt…………………………………………… $ 27,213,101
(a) Outstanding debt as of March 15, 2018.
(c) Based on the Town's weighted percentage of total equalized valuation.
Source: Official Statements, Accounting Records
Town of Canton, Massachusetts Page 122 of 128 Comprehensive Annual Financial ReportSource page 131
DEMOGRAPHIC AND ECONOMIC STATISTICS
LAST TEN FISCAL YEARS
Per
Capita
Fiscal Population Personal Personal Median School Unemployment
Year Estimates Income Income Age Enrollment Rate
2009 22,048 $ 942,403,000 $ 42,743 39.8 3,137 7.20%
2010 21,732 1,050,979,000 48,361 42.3 3,172 6.60%
2011 20,097 968,993,208 48,216 42.3 3,267 6.70%
2012 20,159 969,066,640 48,071 42.3 3,298 5.80%
2013 20,708 993,466,795 47,975 42.3 3,312 5.50%
2014 21,932 1,049,031,660 47,831 42.3 3,321 4.70%
2015 22,276 1,084,774,372 48,697 42.3 3,385 3.80%
2016 22,510 1,107,131,165 49,184 42.3 3,375 3.80%
2017 22,551 1,125,784,923 49,922 42.3 3,379 2.40%
2018 22,817 1,156,150,065 50,671 42.3 3,353 3.60%
Source: U. S. Census, Division of Local Services, Massachusetts
Department of Elementary and Secondary Education
Median age is based on most recent census data
Town of Canton, Massachusetts Page 123 of 128 Comprehensive Annual Financial ReportSource page 132
PRINCIPAL EMPLOYERS (EXCLUDING TOWN)
CURRENT YEAR AND NINE YEARS AGO
2018 2009
Nature Percentage Percentage
of of Total Town of Total Town
Employer Business Employees Rank Employment Employees Rank Employment
Dunkin Brands, Inc. Food and Beverages 662 1 2.91% 586 5 2.50%
Meditech Hospital Software 554 2 2.44% 600 4 2.56%
Computershare (Equiserve) Operations Center 540 3 2.37% 880 3 3.76%
Destination XL Group (Casual Male) Retail/Wholesale 540 4 2.37% 475 6 2.03%
FIS Global Financial Services 350 5 1.54%
Stoneridge Control Devices (Pollak) Automotive Engineering 322 6 1.42% 320 7 1.37%
Boston Mutual Inurance Insurance Sales and Service 240 7 1.06% 264 8 1.13%
Pappas Rehablitation Hospital Pediatric Hospital 220 8 0.97% 224 10 0.96%
Gray, Gray and Gray LLP Accounting 135 9 0.59%
Bank of Canton Banking 110 10 0.48%
Reebok International Footwear 1,040 1 4.44%
One Beacon Insurance Insurance Sales and Service 970 2 4.14%
Organogenesis Regenerative Medicine 230 9 0.98%
Totals 3,673 16.15% 5,589 23.86%
Source: Official Statements
Town of Canton, Massachusetts Page 124 of 128 Comprehensive Annual Financial ReportSource page 133
FULL-TIME EQUIVALENT TOWN EMPLOYEES BY FUNCTION
LAST TEN FISCAL YEARS
Function 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
General government…………………………………………………………….
28 28 27 27 27 26 26 24 27 26
Public safety…………………………………………….. 104 104 103 104 104 103 99 101 103 103
Education…………………………………………………… 427 427 429 416 423 440 426 443 474 503
Public works……………………………………………………………..
43 43 43 43 43 46 43 43 42 43
Health and human services…………………………………………………………..
9 10 9 9 9 9 9 10 9 10
Culture and recreation…………………………………………………
22 22 22 22 22 23 24 22 24 24
Total Town employees…………….…………………...……..
633 634 633 621 628 647 627 643 679 709
Source: Town personnel records
Town of Canton, Massachusetts Page 125 of 128 Comprehensive Annual Financial ReportSource page 134
OPERATING INDICATORS BY FUNCTION/PROGRAM
LAST TEN FISCAL YEARS
Function 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
General Government:
Population…………………………………….. 20,985 21,003 21,529 20,159 20,708 20,853 20,717 20,878 21,443 20,985
Registered voters……………………………………..14,539 14,376 14,624 12,529 14,241 14,467 14,734 14,984 15,694 15,877
Public Safety:
Police
Criminal offenses……………………………………………… 419 422 448 554 909 464 384 945 1,076 862
Fire
Fire calls……………………………………………….. 930 1,000 1,470 1,391 1,242 1,500 1,800 1,683 1,638 2,013
Ambulance calls………………………………………… 2,729 2,600 2,304 2,367 2,250 2,600 2,100 2,525 2,457 2,278
Permits issued………………………………………………. 823 950 927 1,218 949 1,380 1,005 745 857 976
Building Department
Building permits issued………………………………….837 771 788 860 905 894 1,132 1,514 1,271 1,093
Other permits issued…………………………………. 1,478 1,497 1,406 1,536 1,670 2,062 2,030 1,885 1,951 1,753
Education:
Number of students…………………………………. 3,118 3,061 3,229 3,252 3,262 3,338 3,427 3,378 3,379 3,353
Public Works:
Highway
Roads paved (miles)……………………………………………… 2.4 0.6 1.4 3.9 0.8 1.7 3.6 2.5 3.1 4.2
Water
Water mains installed (miles)…………………………… 0.0 1.0 2.1 0.0 1.8 2.0 0.0 0.0 2.5 0.0
Sewer
Sanitary sewers installed (miles)……………………………
0.0 0.0 1.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Health and Human Services:
Board of Health
Inspections and complaint investigations……… 680 730 742 520 661 680 673 652 925 760
Permits issued……………………………………………….. 590 612 627 636 645 647 641 644 644 652
Council on Aging
Bus trips………………………………………….. 9,000 9,000 9,200 9,550 9,825 8,500 7,863 8,200 10,180 8,830
Culture and Recreation:
Libaries
Circulation……………………………………………. 261,512 262,132 288,148 308,552 315,297 294,718 301,191 269,045 287,981 258,961
Children's programs held……………………………………………. 107 117 118 349 132 132 132 241 197 328
Children's programs attendance…………………………………………….
2,510 2,811 2,857 4,673 3,550 3,004 3,004 3,985 3,898 6,935
Recreation
Swimming pool attendance…………………………………………….
10,962 7,360 8,120 8,000 9,600 9,426 4,446 6,056 5,107 4,778
Playground program participants…………………………………………….
1,599 1,509 1,509 1,509 1,400 812 1,008 1,294 1,090 1,016
N/A - Information not available
Source: Various Town Departments and State websites.
Town of Canton, Massachusetts Page 126 of 128 Comprehensive Annual Financial ReportSource page 135
CAPITAL ASSET STATISTICS BY FUNCTION/PROGRAM
LAST TEN FISCAL YEARS
Function 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
General Government:
Number of buildings……………………………….. 1 1 1 1 1 1 1 1 1 1
Public Safety:
Police
Number of stations……………………………. 1 1 1 1 1 1 1 1 1 1
Fire
Number of stations……………………………. 2 2 2 2 2 2 2 2 2 2
Education:
Number of elementary schools…………………………………….
3 3 3 3 3 3 3 3 3 3
Number of middle schools…………………………………….1 1 1 1 1 1 1 1 1 1
Number of high schools………………………………………..1 1 1 1 1 1 1 1 1 1
Public Works:
Road miles………………………………………. 94 94 94 112 112 112 112 112 112 112
Water main (miles)…………………………………………. 122 122 123 123 123 123 123 123 123 123
Sanitary sewers (miles)…………………………………………. 66 66 66 82 82 82 82 82 82 82
Number of water towers…………………….. 5 5 5 5 5 5 5 5 5 5
Number of water treatment plants…………………….. - - - 1 2 2 2 2 2 2
Health and Human Services:
Number of senior centers…………………….. - - - - - - - 1 1 1
Culture and Recreation:
Number of libraries……………………………………………
1 1 1 1 1 1 1 1 1 1
Number of pools………………………………….. 1 1 1 1 1 1 1 1 1 1
N/A - Information not available
Source: Various Town Departments and State websites.
Town of Canton, Massachusetts Page 127 of 128 Comprehensive Annual Financial ReportSource page 136
Jay Turner photo courtesy of the Canton Citizen Plans are underway to construct a heritage park utilizing both the Paul Revere Heritage Barn and the Rolling Mill along with nine acres of parkland with the rolling mill becoming a theme restaurant. Town of Canton, Massachusetts Page 128 of 128 Comprehensive Annual Financial Report