FIVE-YEAR FINANCIAL FORECAST
EXECUTIVE SUMMARY
FY13-FY17
Purpose
This forecast is meant to be a tool used by the Board of Selectmen, Advisory Finance Committee and
administrative staff to review trends and determine the effects of decisions that are made. Financial
forecasting is not meant to be an exact science and cannot include all possible scenarios or new costs that
the town may face in the future. It also cannot predict economic downturns and/or major state aid reductions
or increases beyond what can be estimated based on past trends. It does provide information regarding likely
scenarios based on present knowledge and past trends.
Method
For the purpose of this report, actual data was collected over the past ten years and forecasts were
developed for both revenues and expenditures based on the trends over the past ten years to forecast out
through fiscal year 2017. This data was then modified further to remove erratic increases caused by nonlinear trends. Attached are two sets of spreadsheets. The first is the revenue forecast for the next five years.
The second spreadsheet contains the expenditure estimates in the line items format voted by Town Meeting
and forecasted for the next five years.
Using data available through the Municipal Databank maintained by the Commonwealth, I have also included
a third spreadsheet that contains a 5 year history of the Town’s assessed valuation, separated by: (a)
residential; (b) commercial; (c) industrial; and (d) personal property. For estimates of the impact on average
single family property taxpayers I chose the past five years to ensure high growth periods during the past two
decades did not skew the outlook. Using trend analysis from the past 10 years and projecting out for FY1317 provides an annual increase of total assessed valuation as follows:
Table 1
Assessed Valuation Projections
FY
2013
2014
2015
2016
2017
Residential
Commercial
Industrial
Personal
Property
Total
1,948,701,439
2,075,669,217
2,151,626,597
2,184,070,466
2,142,193,993
497,831,376
516,009,193
538,726,042
560,378,785
573,919,075
478,380,531
473,800,886
480,204,464
487,611,989
489,288,799
292,503,615
349,273,073
369,887,864
358,880,244
339,631,177
3,217,416,777
3,414,752,322
3,540,445,028
3,590,941,633
3,545,033,271
Findings and Conclusions
•
FY13 – FY17 Five Year Tax Projections – The projections in the five-year forecast estimate fully utilizing the
Town’s taxing capacity under Proposition 2½ which also allows us to estimate what the excess levy capacity
or shortfall might be. Using the assessed valuation history in Table 1, I am projecting the following impact on
the single family tax bill for the next five years:
1
Table 2
Estimated Average Single Family Tax
Est. Avg Single
Family Value
FY
2013
2014
2015
2016
2017
•
Tax Rate
407,285
409,002
410,727
412,459
414,198
Single Family
Tax Bill
19.48
19.06
19.07
19.49
20.47
7,935
7,794
7,832
8,040
8,477
During the past three years, the Town has reduced its use of free cash to balance operating expenses
from $1.2 million to $300,000 in FY12. The FY13 budget does not include using any Free Cash to
balance the budget. Operating revenues are sufficient to offset operating expenditures, including AFC
and other Reserve Funds. Currently, reserves as a percentage of overall operating budgets is lower
than the Town’s goal of 3% - 7% for free cash and for stabilization with a goal of 7% - 10% combined
reserves. Table 2 below shows that the Town currently has approximately 6.3% in reserves (up from
5.5% in FY12) and is approximately $561,435 short of meeting the 7% combined goal (down from
$1,215,106 in FY12). Having adequate reserves is important relative to the Town’s bond rating and to
ensure stable operations during times when there are losses of revenues or emergencies.
Table 3
Reserves compared to Operating Budget
•
FY12
FY13
Proposed
Budget
Reserves
as a % of
Operating
Free Cash
Stabilization
3,135,710
1,825,351
78,892,805
78,892,805
4.0%
2.3%
Total Reserves
4,961,061
78,892,805
6.3%
7% Goal
Lower than Goal
5,522,496
561,435
Five-Year Revenue Projections – This spreadsheet contains what I believe are realistic revenue
estimates for FY13-17.
The revenue projections include level funded state aid at $5,394,851 based on the state revenue
stream during FY12 meeting and exceeding projections. This may need to be modified in late
January once the Governor releases his budget. If state aid figures are higher this provides the
opportunity for the Selectmen and AFC to either add services or can be used to reduce the property
tax levy. Local receipts are estimated to increase from $6,792,289 in FY12 to $6,986,580 in FY13 for
an increase of $194,291 (or +2.9%). The projection over the next five years is that state aid will
increase approximately 2.2% on average per year; and that local receipts will increase an average of
1.6% per year. The total increase estimated in state aid from FY13 through FY17 is $596,247 and
2
local receipts for that same period is estimated to increase $549,484. Property taxes during this same
period are projected to increase $9,316,238 (as the maximum allowable under Proposition 2½ to
provide adequate funding for the Town’s budget. Major revenue categories are forecast as follows:
Table 4
Summary of Revenue History/Projections
Revenue Source
•
% Of
Total
FY08
State Aid
Local Receipts
Property Taxes
5,682,912
6,606,177
52,945,694
Total
65,234,783
8.7%
10.1%
81.2%
FY13
5,578,837
6,986,580
64,919,512
% Of
Total
7.2%
9.0%
83.8%
77,484,929
FY17
6,198,175
7,536,064
74,235,750
% Of
Total
Avg Annual
$ Inc
7.0%
8.6%
84.4%
123,868
109,897
1,863,248
2.2%
1.6%
2.9%
2,097,012
2.7%
87,969,989
Avg Annual
% Inc
Five-Year Expenditure Forecast – As stated above, these spreadsheets are based on trend analysis,
the historic trends for spending from the various town departments, known increases/decreases in
fixed costs such as debt service and insurance costs, and inflationary estimates where appropriate.
Salaries in the forecast are estimated at 1.5% increase in FY13 and 2% in FY14-17. Major spending
increases (in terms of percentage between FY08 and FY17 (the ten year period included in the
forecast) are as follows:
Table 5
Major Spending Category History/Projections
Avg Annual Avg Annual
% Inc.
$ Increase
FY08
% of Total
FY13
% of Total
FY17
% of Total
Public Safety
Public Works
Insurance
Debt Service
Schools
Assabet Regional
Library
Senior Center
Landfill
All Other
5,568,371
2,702,465
8,535,732
8,521,365
34,744,140
920,909
840,136
225,967
730,479
5,701,945
8.1%
3.9%
12.5%
12.4%
50.7%
1.3%
1.2%
0.3%
1.1%
8.3%
6,185,756
2,644,677
10,841,200
11,455,901
41,282,909
675,000
886,095
286,475
771,606
7,078,451
7.5%
3.2%
13.2%
14.0%
50.3%
0.8%
1.1%
0.3%
0.9%
8.6%
6,704,889
2,994,884
14,771,866
8,879,763
44,953,358
730,642
1,025,122
321,326
853,501
8,052,001
7.5%
3.4%
16.5%
9.9%
50.3%
0.8%
1.1%
0.4%
1.0%
9.0%
113,652
29,242
623,613
35,840
1,020,922
(19,027)
18,499
9,536
12,302
235,006
2.0%
1.1%
7.3%
0.4%
2.9%
-2.1%
2.2%
4.2%
1.7%
4.1%
Total
68,491,510
100.0%
82,108,070
100.0%
89,287,352
100.0%
2,079,584
3.0%
Department
From the table above, it is apparent that current trends on insurance costs demonstrate the need to continue
to work on reducing overall insurance costs, with health insurance as the main driver in the increase, all other
costs as projected out demonstrate a more reasonable trend consistent with normal inflationary costs.
Conclusion
For the FY12 and FY13 Five Year Forecasts, it appears that due to curtailed spending since FY11 that the
Town will continue to see a balanced budget over the next five years. While the information on Table 6
shows that the amount that the Town is under Proposition 2½ will grow significantly projecting out five years,
my recommendation is that the Town focus on the next two years as these numbers are more likely to be
closer to what the Town will realistically see in the future. For the past three years (including the FY13
budget), spending has been curtailed as much as possible and conservative budgeting provides the following
projections (the “other” category accounts for the other amounts that are raised in calculating the tax rate):
3
Table 6
Over/Under Proposition 2½ based on projections
Expenditures
FY13
FY14
FY15
FY16
FY17
Expenditures
Other (from recap)
92,019,880
1,601,383
93,692,635
1,601,383
95,115,879
1,601,383
96,635,197
1,601,383
99,160,031
1,601,383
TOTAL
93,621,263
95,294,018
96,717,262
98,236,580
100,761,414
Revenues
Other (from recap)
93,535,472
1,258,491
96,453,791
1,258,491
99,741,966
1,258,491
102,997,908
1,258,491
106,537,398
1,258,491
TOTAL
94,793,963
97,712,282
101,000,457
104,256,399
107,795,889
1,172,700
2,418,264
4,283,195
6,019,819
7,034,475
Under/(Over) Prop 2 1/2
While the above looks promising, it needs to be kept in mind that over the past several years more of the tax
burden has been shifted from commercial and industrial to residential and that there is the potential the Town
will be faced with additional building projects to address structural issues at the fire station and space needs
for the police and other town offices as well as school projects at Assabet Regional Vocational School and at
the Gibbons School. Additionally, as pointed out in the Road Management Plan, the Town is not adequately
funding the real cost of road maintenance.
For the next few years, the Town needs to continue to control costs related to administrative expenses and
benefits as much as possible and use discretion where additional new spending is concerned and continue to
build reserves to improve the Town’s bond rating.
4
Revenue Forecast FY13-17
Line
Item
10430
10431
10432
10432
10432
10432
10432
10432
10432
10432
10433
10433
10433
10433
4300
4310
4320
4321
4322
4323
4324
4325
4327
4329
4333
4337
4338
4339
10415
10417
10417
10418
10419
10419
10423
10424
10425
10426
10427
10428
10428
10428
10428
10428
10428
10428
4150
4170
4175
4180
4190
4223
4230
4240
4250
4260
4270
4280
4281
4283
4284
4286
4287
4288
Actual
FY08
Actual
FY09
Actual
FY10
Actual
FY11
Budget
FY12
Estimated
FY13
Estimated
FY14
Estimated
FY15
Estimated
FY16
Estimated
5 -Yr
Annual
FY17 Fore. % Inc Avg % Inc
Federal Revenue - Direct
Fed Rev - Pass Thru State
Chapter 70
School Transportation
School Construction
Unrestricted Aid (formerly Lottery)
Additional Assistance
Highway Fund, Chapter 81
Exempt: Vets, Blind, Sur Sp, Elderly
State Owned Land
Veteran's Benefits (75%)
School Choice Reimbursement
Tuition of State Wards
State Quinn Bill
3,731,062
3,783,163
1,297,207
145,058
43,912
152,471
37,687
39,912
127,344
12
3,966,524
3,777,533
1,170,799
130,923
45,780
156,768
23,493
86,704
134,081
6,936
4,344,030
3,777,533
1,021,005
17,068
141,227
23,430
106,005
24,369
4,183,588
3,780,314
735,124
245,041
117,203
93,647
25,196
50,268
10,128
4,206,047
3,778,460
909,295
74,937
96,997
42,267
65,308
-
4,206,047
3,778,460
909,295
74,937
96,997
42,267
65,308
-
4,332,228
3,778,460
922,934
74,937
98,452
42,901
66,288
-
4,462,195
3,778,460
936,778
74,937
99,929
43,545
67,282
-
4,596,061
3,778,460
950,830
74,937
101,428
44,198
68,291
-
4,733,943
3,778,460
965,093
74,937
102,949
44,861
69,316
-
0.0%
0.0%
12.6%
0.0%
0.0%
6.1%
0.0%
0.0%
0.0%
6.1%
6.1%
6.1%
0.0%
-100.0%
0.0%
0.0%
2.5%
0.0%
0.0%
1.2%
0.0%
0.0%
0.0%
1.2%
1.2%
1.2%
0.0%
-100.0%
Total State Aid:
Total State Aid Less School Construction:
Cherry Sheet Offsets
Total
9,357,816
5,574,653
108,259
5,682,912
9,492,617
5,715,084
112,625
5,827,709
9,461,603
5,684,070
138,036
5,822,106
9,240,509
5,460,195
114,325
5,574,520
9,173,311
5,394,851
178,627
5,573,478
9,173,311
5,394,851
183,986
5,578,837
9,316,200
5,537,740
189,505
5,727,246
9,463,126
5,684,666
195,191
5,879,856
9,614,205
5,835,745
201,046
6,036,791
9,769,558
5,991,098
207,078
6,198,175
6.5%
11.1%
12.6%
11.1%
1.3%
2.2%
2.5%
2.2%
Motor Vehicle Excise
RE, PP, MV SWR, WTR, Int Taxes
Tax Liens Interest and Fees
Paymenst in Lieu of Taxes (WHA)
Hotel and Motel Taxes
Meals Tax
Cemetery Openings
Ambulance
Trailer Park
Trash Disposal - Harvey
COA Mini-Bus
Municipal Liens
Registry Flag
Town Clerk Miscellaneous
Sale of Maps and Street Listing
Sealer of Weights and Measures
Insurance Requests- Police & Fire
Fire Alarm Maintenance
2,730,697
153,399
24,846
5,205
664,627
8,520
898,173
6,768
157,829
17,161
10,747
25,281
2,531
2,198
7,015
5,780
2,535,376
134,863
87,956
5,227
586,574
8,529
945,296
7,332
21,240
9,108
26,272
5,764
2,303
9,546
10,533
2,458,748
152,648
55,534
5,240
561,063
7,780
736,971
6,672
20,150
9,499
25,152
1,386
2,222
8,111
1,020
2,644,985
144,955
59,137
5,284
842,689
447,708
9,890
754,955
6,624
19,400
11,102
23,933
1,318
2,203
6,636
1,916
2,600,000
147,854
59,728
5,298
800,000
500,000
10,314
750,000
6,745
19,000
11,324
24,094
1,344
2,259
8,111
1,967
2,626,000
150,811
60,325
5,316
816,000
510,000
10,669
768,303
6,647
19,100
11,551
23,734
1,371
2,330
8,111
2,035
2,652,260
153,828
60,929
5,339
832,320
520,200
11,227
787,052
6,633
19,611
11,782
23,449
1,399
2,358
8,111
2,384
2,678,783
156,904
61,538
5,362
848,966
530,604
11,930
806,258
6,506
19,309
12,018
22,927
1,427
2,370
8,111
2,483
2,705,570
160,042
62,153
5,386
865,946
541,216
13,036
825,934
6,474
19,149
12,258
22,510
1,455
2,401
8,111
3,055
2,732,626
163,243
62,775
5,407
883,265
552,040
13,779
846,089
6,445
19,102
12,503
22,237
1,484
2,443
8,111
3,364
4.1%
8.2%
4.1%
1.7%
8.2%
8.2%
29.1%
10.1%
-3.0%
0.0%
0.0%
0.0%
8.2%
-6.3%
8.2%
4.8%
0.0%
65.3%
0.8%
1.6%
0.8%
0.3%
1.6%
1.6%
5.8%
2.0%
-0.6%
0.0%
0.0%
0.0%
1.6%
-1.3%
1.6%
1.0%
0.0%
13.1%
1
Revenue Forecast FY13-17
Line
10428
10428
10428
10428
10428
10428
10428
10428
10428
10429
10433
10433
10433
10433
10439
10442
10442
10442
10442
10442
10442
10442
10442
10442
10442
10442
10442
10442
10452
10477
10477
10477
10480
10481
10482
10483
10484
10484
10412
Item
4290
4291
4292
4293
4294
4295
4296
4297
4298
4299
4330
4331
4332
4336
4393
4421
4422
4423
4424
4425
4426
4427
4428
4429
4430
4431
4432
4433
4520
4770
4771
4772
4800
4810
4820
4830
4840
4841
4990S
Dump Stickers
School Department Miscellaneous
Rental - Town Facility
Rental - Country Club
Rental - Cable TV
Other Fees and Charges
COA Mini-Bus Fares
10% Administrative Fee
DPW Miscellaneous Fees
Other Departmental Revenue
Other State Revenue
Court Fines/DMVI
In Lieu of Taxes (MDC)
Other School State Revenue
Assabet E & D Reimbursement FY09
Police
Building
Gas/Plumbing
Wiring
Septic
Planning Board
Board of Appeals
Board of Health
Selectmen
Dog Licenses
Department of Public Works
Miscellaneous
Fire Department
Earnings on Investments
Parking
Library
Dog
Insurance Reimbursements
Sale of Inventory
Sale of Foreclosed Property
Gifts and Donations
Other Miscellaneous Revenue
Premium of Loans
Hopkinton Bill - Supplementals
Actual
FY08
110,181
225
2,398
16,800
592
3,990
2,848
36,377
2,582
5,533
114,033
97,584
88,635
4,708
403,716
69,690
85,969
12,990
3,118
58,420
96,592
14,384
4,010
100
10,387
476,565
13,695
13,885
2,741
105,332
1,912
2,426
22,984
Actual
FY09
136,820
21,749
2,120
16,800
7,277
2,856
27,763
165
7
24,867
100,485
31,828
86,758
65,039
1,670
324,799
65,170
69,246
2,135
6,102
56,566
96,811
14,470
7,135
768
10,918
221,147
13,268
13,876
4,011
139,644
349,365
3,995
32,784
12,408
Actual
FY10
110,840
577
150
16,988
2,928
5,252
2,697
27,951
2,770
22,410
100,615
43,124
142,630
12,431
1,900
238,451
40,900
60,246
5,715
3,464
54,041
109,004
17,983
5,715
75
9,126
124,102
11,037
15,377
3,302
128,754
28,302
79,846
22,391
Actual
FY11
199,770
6,022
150
16,612
4,069
4,493
2,127
32,506
1,115
21,196
87,058
46,324
126,650
4,393
453,588
45,253
101,019
11,219
3,180
51,658
110,535
17,040
7,200
50
9,240
73,992
9,471
19,652
2,092
131,263
6,679
263,241
14,835
2
Budget
FY12
110,000
153
16,900
2,950
4,583
2,169
32,831
1,126
27,157
89,546
46,324
151,155
2,000
725,000
72,331
161,465
5,500
3,600
58,000
114,011
17,849
5,700
50
9,250
60,000
13,000
19,500
2,100
65,000
5,000
10,000
10,000
Estimated
FY13
199,000
156
16,900
2,950
4,675
2,213
33,160
1,137
29,420
93,065
46,324
163,762
2,000
725,000
72,500
160,000
5,500
3,600
58,000
117,663
18,570
5,700
50
9,250
60,000
13,000
21,164
2,200
72,319
5,000
10,000
10,000
Estimated
FY14
110,000
159
17,750
2,950
4,768
2,257
33,491
1,149
23,197
89,633
46,324
189,559
2,000
739,500
73,950
163,200
5,500
3,700
58,500
122,505
19,626
5,700
50
9,300
60,000
13,000
23,124
2,300
72,319
10,000
10,000
Estimated
FY15
199,000
162
17,750
2,950
4,863
2,302
33,826
1,160
20,152
87,797
46,324
226,197
2,000
754,290
75,429
166,464
5,500
3,800
59,000
128,499
20,941
5,700
50
9,350
65,000
13,000
25,697
2,400
72,319
10,000
10,000
Estimated
FY16
110,000
166
17,750
2,950
4,961
2,348
34,164
1,172
21,461
85,616
46,324
249,525
2,000
769,376
76,938
169,793
6,000
3,900
59,500
132,806
21,608
5,700
50
9,400
70,000
13,000
28,573
2,500
72,319
5,000
10,000
10,000
Estimated
5 -Yr
Annual
FY17 Fore. % Inc Avg % Inc
199,000
0.0%
0.0%
0.0%
0.0%
169
8.2%
1.6%
17,750
5.0%
1.0%
2,950
0.0%
0.0%
5,060
8.2%
1.6%
2,395
8.2%
1.6%
34,506
4.1%
0.8%
1,184
0.0%
0.0%
0.0%
0.0%
23,143
-21.3%
-4.3%
85,370
-8.3%
-1.7%
46,324
0.0%
0.0%
285,996
74.6%
14.9%
0.0%
0.0%
2,000
0.0%
0.0%
784,763
8.2%
1.6%
78,476
8.2%
1.6%
173,189
8.2%
1.6%
0.0%
0.0%
6,000
9.1%
1.8%
4,000
11.1%
2.2%
59,500
2.6%
0.5%
137,775
17.1%
3.4%
22,661
22.0%
4.4%
5,700
0.0%
0.0%
50
0.0%
0.0%
9,450
2.2%
0.4%
70,000
16.7%
3.3%
13,000
0.0%
0.0%
30,821
45.6%
9.1%
2,600
18.2%
3.6%
72,319
0.0%
0.0%
5,000
100.0%
20.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
10,000
0.0%
0.0%
10,000
0.0%
0.0%
Revenue Forecast FY13-17
Line
Actual
FY08
Actual
FY09
Actual
FY10
Actual
FY11
Budget
FY12
Estimated
FY13
Estimated
FY14
Estimated
FY15
Estimated
FY16
Estimated
5 -Yr
Annual
FY17 Fore. % Inc Avg % Inc
6,606,177
6,366,741
5,503,288
6,866,426
6,792,289
6,986,580
7,014,393
7,247,418
7,299,596
7,536,064
7.9%
1.6%
296,479
277,382
258,285
239,188
220,091
200,994
181,898
164,710
164,710
164,710
-18.1%
-3.6%
Personal Property Taxes
Real Estate Taxes
Real Estate Taxes (Excluded)
Tax Liens
Tax Possession/Foreclosure
Real Estate Deferred
Roll-Back Taxes
4,855,521
44,525,324
3,294,823
221,583
48,443
-
4,282,081
47,223,915
3,127,453
566,338
9,434
-
4,518,947
52,430,789
212,814
-
4,407,070
53,617,559
2,541,338
-
4,517,247
55,818,714
2,387,435
-
4,630,178
58,055,801
2,233,532
-
4,745,933
60,329,719
2,079,629
-
4,864,581
62,643,297
1,941,116
-
4,986,196
65,014,715
1,817,994
-
5,110,851
67,445,419
1,679,481
-
Total Property Taxes:
52,945,694
55,209,220
57,162,550
60,565,967
62,723,396
64,919,512
67,155,281
69,448,994
71,818,905
74,235,750
10.4%
16.2%
-24.8%
0.0%
0.0%
0.0%
0.0%
0.0%
14.4%
2.1%
3.2%
-5.0%
0.0%
0.0%
0.0%
0.0%
0.0%
2.9%
4390 Hopkinton Capital (Debt)
4391 Westborough Capital (Debt)
4392 Shrewsbury Capital (Debt)
13,043
92,790
142,136
14,754
106,428
168,104
14,583
100,385
158,634
36,982
240,451
428,138
104,699
696,651
1,212,093
177,024
1,090,202
2,049,393
165,497
1,101,191
1,915,946
164,740
1,096,156
1,907,184
163,657
1,088,946
1,894,639
162,580
1,081,783
1,882,177
-8.2%
-0.8%
-8.2%
-1.6%
-0.2%
-1.6%
Total WWTP Capital (Debt)
247,969
289,286
273,602
705,571
2,013,443
3,316,619
3,182,634
3,168,080
3,147,242
3,126,540
-5.7%
-1.1%
65,779,232
67,970,338
69,019,831
73,951,672
77,322,698
81,002,542
83,261,451
85,909,059
88,467,245
91,261,240
12.7%
2.5%
Tax Liens
Interest on Taxes
Permits
Connection Charges
Earnings on Investments
Sale of Inventory
Sale of Forclosed Property
Premium on Loans
Other
Charges
State Payments
Indirect Costs
106,955
33,627
18,594
30,000
77,020
1
4,298,812
(90,656)
17,310
16,113
16,614
140,000
45,086
907
416
15,178
2,363
4,024,685
(102,738)
4,240
19,454
19,886
100,000
14,590
4,299
74,168
10,643
3,953,569
(111,345)
20,000
20,000
100,000
200,000
4,074,072
(113,589)
23,146
19,151
100,000
60,000
4,332,462
(114,052)
25,166
19,446
100,000
60,000
4,440,729
(119,085)
24,961
19,715
100,000
60,000
4,659,507
(119,556)
27,316
20,461
100,000
60,000
4,800,082
(123,292)
29,277
20,586
100,000
60,000
4,990,825
(125,850)
31,634
20,712
100,000
60,000
5,198,389
(128,476)
0.0%
25.7%
6.5%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
17.1%
0.0%
7.9%
0.0%
5.1%
1.3%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
3.4%
0.0%
1.6%
Total Water
4,474,353
4,175,934
4,089,504
4,300,483
4,420,706
4,526,256
4,744,627
4,884,568
5,074,838
5,282,259
16.7%
3.3%
Item
Local Receipts:
XXXXX XXXX Debt Exclusion - Premium on Loan:
10411
10412
10412
10413
10413
10414
10414
10439
10439
10439
4990
4990
4990
4130
4140
4141
4145
TOTAL GENERAL FUND
Water Enterprise
60000
60000
60000
60000
60000
60000
60000
60000
60000
60000
60000
60000
4130
4170
4219
4225
4520
4810
4820
4841
4970
4999
4330
4960
3
Revenue Forecast FY13-17
Line
Actual
FY08
Actual
FY09
Actual
FY10
Actual
FY11
Budget
FY12
Estimated
FY13
Estimated
FY14
Estimated
FY15
Estimated
FY16
Estimated
5 -Yr
Annual
FY17 Fore. % Inc Avg % Inc
Tax Liens
Interest on Taxes
Apportionments
Permits
EMC O & M Payment
Connection Charges
State Payments
Hopkinton O & M (non-STP)
Earnings on Investments
Sale of Inventory
Sale of Forclosed Property
Premium on Loans
Other
Charges
Westborough Debt
Westborough O & M
Indirect Costs
945
52,524
145,213
1,260
21,271
70,000
38,165
69,588
74,508
3,085,742
(92,790)
(1,088,673)
(128,430)
10,796
45,299
101,738
1,760
22,595
210,000
77,306
43,954
1,745
3,108,150
(106,428)
(1,081,815)
(141,217)
1,946
19,453
107,872
840
24,852
75,000
87,899
20,562
3,224
290
2,966,302
(100,385)
(1,263,241)
(152,023)
20,000
75,000
5,000
25,000
75,000
88,000
20,000
3,231,371
(240,451)
(1,265,668)
(142,614)
40,000
5,000
26,176
150,000
92,400
20,000
4,479,420
(696,651)
(1,340,496)
(141,463)
40,000
5,000
27,569
150,000
97,020
20,400
4,313,487
(1,090,202)
(1,486,502)
(147,975)
40,000
5,000
29,049
150,000
101,871
20,808
6,142,836
(1,101,191)
(1,530,103)
(152,533)
40,000
5,000
30,558
150,000
106,965
21,224
6,327,121
(1,096,156)
(1,641,979)
(157,226)
40,000
5,000
31,853
150,000
112,313
21,649
6,516,935
(1,088,946)
(1,730,974)
(162,057)
40,000
5,000
33,435
150,000
117,928
22,082
6,712,443
(1,081,783)
(1,842,890)
(166,108)
0.0%
0.0%
0.0%
0.0%
21.3%
0.0%
0.0%
21.6%
0.0%
0.0%
0.0%
0.0%
0.0%
55.6%
-0.8%
24.0%
12.3%
0.0%
0.0%
0.0%
0.0%
4.3%
0.0%
0.0%
4.3%
0.0%
0.0%
0.0%
0.0%
0.0%
11.1%
-0.2%
4.8%
2.5%
Total Sewer
2,249,322
2,293,883
1,792,593
1,890,638
2,634,387
1,928,797
3,705,737
3,785,507
3,895,772
3,990,107
106.9%
21.4%
IPP Discharge
Hopkinton O & M
Westborough O & M
Shrewsbury O & M
Earnings on Investments
Sale of Inventory
105,495
132,702
1,088,673
1,566,896
-
105,463
147,816
1,081,815
1,761,545
-
105,702
191,306
1,263,241
1,997,150
46,023
-
190,216
1,265,668
2,202,116
-
196,361
1,340,496
2,337,032
-
223,405
1,486,502
2,586,343
-
229,793
1,530,103
2,829,546
-
252,069
1,641,979
3,111,557
-
266,558
1,730,974
3,400,464
-
285,249
1,842,890
3,709,545
-
0.0%
27.7%
24.0%
43.4%
0.0%
0.0%
0.0%
5.5%
4.8%
8.7%
0.0%
0.0%
Total WWTP
2,893,766
3,096,639
3,603,421
3,658,000
3,873,888
4,296,250
4,589,443
5,005,605
5,397,996
5,837,684
35.9%
7.2%
Total Sewer
5,143,088
5,390,523
5,396,014
5,548,638
6,508,275
6,225,047
8,295,180
8,791,112
9,293,769
9,827,790
57.9%
11.6%
75,396,673
77,536,795
78,505,349
83,800,793
88,251,679
91,753,846
96,301,258
99,584,740
102,835,851
106,371,290
15.9%
3.2%
Item
Sewer Enterprise
60000
60000
60000
60000
60000
60000
60000
60000
60000
60000
60000
60000
60000
60000
60000
60000
60000
4130
4170
4218
4219
4221
4225
4330
4395
4520
4810
4820
4841
4970
4999
4391
4396
4960
Wastewater Treatment Plant
60300
60300
60300
60300
60300
60300
4289
4395
4396
4397
4520
4810
TOTAL:
4
Expenditure Forecast FY13-17
Actual
FY08
Actual
FY09
Actual
FY10
Actual
FY11
Budget
FY12
Estimate
FY13
Estimate
FY14
Estimate
FY15
Estimate
FY16
Salaries & Wages
Expenses
250
-
250
-
250
-
250
-
250
-
250
-
250
-
250
-
250
-
250
-
0.0%
0.0%
0.0%
0.0%
Department Total
250
250
250
250
250
250
250
250
250
250
0.0%
0.0%
Salaries & Wages
Expenses
276,652
44,982
285,470
47,350
324,663
56,708
294,685
34,212
299,288
43,085
309,833
45,600
322,439
44,219
332,218
44,868
340,571
45,822
349,212
46,507
16.7%
7.9%
3.3%
1.6%
Department Total
321,633
332,820
381,371
328,898
342,373
355,433
366,659
377,087
386,393
395,718
15.6%
3.1%
Salaries & Wages
Expenses
2,785
834
3,154
1,586
3,154
1,586
2,974
1,901
2,933
2,100
3,013
2,035
3,073
2,081
3,135
2,116
3,197
2,152
3,261
2,183
11.2%
4.0%
2.2%
0.8%
Department Total
3,619
4,740
4,740
4,875
5,033
5,048
5,154
5,251
5,349
5,445
8.2%
1.6%
Salaries & Wages
Expenses
130,672
519
134,711
522
134,711
448
138,530
477
139,884
545
141,414
555
144,242
565
147,127
566
150,070
570
153,071
583
9.4%
7.1%
1.9%
1.4%
Department Total
131,191
135,233
135,159
139,007
140,429
141,969
144,807
147,693
150,640
153,655
9.4%
1.9%
Salaries & Wages
Expenses
231,866
9,637
214,857
6,239
222,838
3,581
224,521
14,102
230,513
29,794
221,605
25,099
225,997
18,105
230,477
20,008
235,047
23,112
239,708
25,484
4.0%
-14.5%
0.8%
-2.9%
Department Total
241,503
221,096
226,418
238,623
260,307
246,704
244,102
250,485
258,159
265,191
1.9%
0.4%
194,334
46,000
203,738
50,900
211,258
65,888
213,799
27,703
217,241
39,425
223,145
39,410
227,608
40,244
232,160
40,848
236,803
41,315
241,539
41,828
11.2%
6.1%
2.2%
1.2%
Description
Estimate 5-Yr Fore.
Annual
FY17
% Inc. Avg % Inc
Town Moderator
Board of Selectmen/Town Manager
Finance Committee
Town Accountant
Assessors
Treasurer/Collector
Salaries & Wages
Expenses
1
Expenditure Forecast FY13-17
Actual
FY08
240,334
Actual
FY09
254,638
Actual
FY10
277,146
Actual
FY11
241,502
Budget
FY12
256,666
Estimate
FY13
262,555
Estimate
FY14
267,852
Estimate
FY15
273,008
Estimate
FY16
278,118
Estimate 5-Yr Fore.
Annual
FY17
% Inc. Avg % Inc
283,368
10.4%
2.1%
Salaries & Wages
Expenses
99,376
38,752
107,632
43,320
116,113
40,897
121,959
23,797
125,072
48,700
126,464
47,190
128,993
51,334
131,573
51,480
134,205
51,630
136,889
51,783
9.4%
6.3%
1.9%
1.3%
Department Total
138,128
150,952
157,010
145,756
173,772
173,654
180,327
183,054
185,835
188,671
8.6%
1.7%
Salaries & Wages
Expenses
3,130
31,649
3,946
33,900
2,339
30,934
2,060
30,776
3,691
23,800
26,178
26,685
27,168
27,661
28,163
-100.0%
18.3%
-20.0%
3.7%
Department Total
34,779
37,846
33,273
32,836
27,491
26,178
26,685
27,168
27,661
28,163
2.4%
0.5%
Salaries & Wages
Expenses
65,935
186,230
107,864
172,598
140,922
165,346
139,920
175,342
146,886
185,580
154,828
220,450
157,865
226,049
160,962
231,431
164,121
237,352
167,344
242,006
13.9%
30.4%
2.8%
6.1%
Department Total
252,165
280,462
306,269
315,262
332,466
375,278
383,913
392,393
401,473
409,349
23.1%
4.6%
Expenses
34,898
42,351
28,338
24,190
33,700
36,700
37,434
38,183
38,946
39,725
17.9%
3.6%
Department Total
34,898
42,351
28,338
24,190
33,700
36,700
37,434
38,183
38,946
39,725
17.9%
3.6%
Expenses
90,633
91,965
74,890
86,612
88,100
86,775
88,272
90,344
92,054
93,723
6.4%
1.3%
Department Total
90,633
91,965
74,890
86,612
88,100
86,775
88,272
90,344
92,054
93,723
6.4%
1.3%
Salaries & Wages
Expenses
137,860
3,762
173,311
3,807
183,294
2,893
184,392
2,304
187,598
4,250
190,487
4,200
194,297
3,979
198,183
4,138
202,146
4,389
206,189
4,639
9.9%
9.2%
2.0%
1.8%
Department Total
141,622
177,118
186,187
186,696
191,848
194,687
198,276
202,321
206,535
210,829
9.9%
2.0%
Description
Department Total
Legal
Personnel Board
MIS/GIS
Communications
Central Purchasing
Town Clerk
2
Expenditure Forecast FY13-17
Actual
FY08
Actual
FY09
Actual
FY10
Actual
FY11
Budget
FY12
Estimate
FY13
Estimate
FY14
Estimate
FY15
Estimate
FY16
Salaries & Wages
Expenses
11,930
14,591
13,375
16,987
13,501
15,828
12,706
17,446
13,375
17,800
16,775
20,100
17,071
21,516
17,372
23,805
17,679
26,003
17,993
29,072
34.5%
63.3%
6.9%
12.7%
Department Total
26,521
30,362
29,328
30,151
31,175
36,875
38,587
41,177
43,682
47,065
51.0%
10.2%
Salaries & Wages
Expenses
36,096
3,772
37,179
3,449
38,995
483
6,161
2,289
17,476
1,185
18,553
1,850
18,924
1,573
19,303
1,822
19,689
2,065
20,082
2,382
14.9%
101.0%
3.0%
20.2%
Department Total
39,869
40,628
39,478
8,450
18,661
20,403
20,497
21,125
21,754
22,465
20.4%
4.1%
Salaries & Wages
Expenses
189,848
8,995
196,434
9,818
201,930
5,862
203,131
4,973
206,881
5,302
211,090
5,302
215,312
6,162
219,618
6,034
224,010
6,079
228,491
6,181
10.4%
16.6%
2.1%
3.3%
Department Total
198,842
206,251
207,792
208,104
212,183
216,392
221,474
225,652
230,090
234,671
10.6%
2.1%
Salaries & Wages
Expenses
8,490
759
9,682
1,458
9,733
770
8,792
837
12,304
1,540
12,438
1,540
12,687
1,571
12,940
1,602
13,199
1,634
13,463
1,667
9.4%
8.2%
1.9%
1.6%
Department Total
9,249
11,140
10,502
9,629
13,844
13,978
14,258
14,543
14,834
15,130
9.3%
1.9%
Salaries & Wages
Expenses
168,887
196,291
176,119
211,129
176,119
224,018
184,039
225,209
192,363
234,373
65,520
274,595
66,830
295,887
68,167
320,393
69,530
351,163
70,921
386,643
-63.1%
65.0%
-12.6%
13.0%
Department Total
365,178
387,248
400,137
409,248
426,736
340,115
362,717
388,560
420,693
457,564
7.2%
1.4%
Expenses
8,535,732
8,279,233
9,413,590
8,580,519
10,315,100
10,841,200
11,607,050
12,540,551
13,609,582
14,771,866
43.2%
8.6%
Department Total
8,535,732
8,279,233
9,413,590
8,580,519
10,315,100
10,841,200
11,607,050
12,540,551
13,609,582
14,771,866
43.2%
8.6%
Description
Estimate 5-Yr Fore.
Annual
FY17
% Inc. Avg % Inc
Election & Registration
Conservation Commission
Planning Department
Board of Appeals
Buildings and Grounds
Insurance
3
Expenditure Forecast FY13-17
Actual
FY08
Actual
FY09
Actual
FY10
Actual
FY11
Budget
FY12
Estimate
FY13
Estimate
FY14
Estimate
FY15
Estimate
FY16
Salaries & Wages
Expenses
2,464,392
80,181
2,496,934
89,779
2,449,656
199,571
2,507,432
86,427
2,619,768
104,584
2,614,700
106,500
2,666,308
111,963
2,718,948
119,328
2,772,641
125,791
2,827,408
135,424
7.9%
29.5%
1.6%
5.9%
Department Total
2,544,573
2,586,713
2,649,226
2,593,859
2,724,352
2,721,200
2,778,271
2,838,276
2,898,432
2,962,832
8.8%
1.8%
Salaries & Wages
Expenses
2,752,792
271,007
2,860,855
292,352
2,857,874
280,660
3,049,392
290,673
3,120,846
307,514
3,156,197
308,359
3,216,307
318,952
3,277,619
327,557
3,340,157
332,217
3,403,947
338,110
9.1%
9.9%
1.8%
2.0%
Department Total
3,023,799
3,153,207
3,138,534
3,340,064
3,428,360
3,464,556
3,535,259
3,605,176
3,672,374
3,742,057
9.2%
1.8%
Salaries & Wages
Expenses
254,652
39,402
263,289
34,364
271,260
35,859
251,982
35,943
276,202
35,943
282,382
41,196
292,796
46,354
300,660
53,012
306,573
68,183
312,605
102,918
13.2%
186.3%
2.6%
37.3%
Department Total
294,055
297,653
307,119
287,925
312,145
323,578
339,150
353,672
374,756
415,523
33.1%
6.6%
Expenses
2,150
2,150
2,150
2,150
2,250
2,250
2,250
2,150
2,250
2,150
-4.4%
-0.9%
Department Total
2,150
2,150
2,150
2,150
2,250
2,250
2,250
2,150
2,250
2,150
-4.4%
-0.9%
Salaries & Wages
Expenses
46,249
18,940
47,659
22,964
49,068
22,343
49,068
22,517
49,538
22,173
50,076
19,295
51,078
21,844
52,099
24,279
53,141
26,732
54,204
30,982
9.4%
39.7%
1.9%
7.9%
Department Total
65,189
70,622
71,411
71,585
71,711
69,371
72,922
76,378
79,873
85,185
18.8%
3.8%
Expenses
920,909
783,917
775,285
686,187
632,037
675,000
688,500
702,270
716,315
730,642
15.6%
3.1%
Department Total
920,909
783,917
775,285
686,187
632,037
675,000
688,500
702,270
716,315
730,642
15.6%
3.1%
Description
Estimate 5-Yr Fore.
Annual
FY17
% Inc. Avg % Inc
Police Department
Fire Department - Ambulance
Building Commissioner
Weights & Measures
Animal Control
Assabet Regional Vocational School
4
Expenditure Forecast FY13-17
Actual
FY08
Actual
FY09
Actual
FY10
Actual
FY11
Budget
FY12
Estimate
FY13
Estimate
FY14
Estimate
FY15
Estimate
FY16
Salaries & Wages
Expenses
1,352,058
624,372
1,405,919
639,481
1,411,059
694,906
1,425,186
679,340
1,477,329
668,758
1,513,198
682,268
1,543,462
754,099
1,574,331
809,018
1,605,818
866,796
1,637,934
907,739
10.9%
35.7%
2.2%
7.1%
Department Total
1,976,430
2,045,401
2,105,965
2,104,525
2,146,087
2,195,466
2,297,561
2,383,349
2,472,614
2,545,673
18.6%
3.7%
Salaries & Wages
Expenses
207,683
518,352
191,596
436,004
155,034
434,967
206,459
467,928
142,396
306,815
142,396
306,815
142,396
306,815
142,396
306,815
142,396
306,815
142,396
306,815
0.0%
0.0%
0.0%
0.0%
Department Total
726,035
627,600
590,001
674,387
449,211
449,211
449,211
449,211
449,211
449,211
0.0%
0.0%
Expenses
54,905
65,470
78,570
86,000
80,000
86,000
75,000
75,000
75,000
75,000
-6.3%
-1.3%
Department Total
54,905
65,470
78,570
86,000
80,000
86,000
75,000
75,000
75,000
75,000
-6.3%
-1.3%
Expenses
730,479
666,848
696,297
684,355
757,812
771,606
785,325
798,494
826,396
853,501
12.6%
2.5%
Department Total
730,479
666,848
696,297
684,355
757,812
771,606
785,325
798,494
826,396
853,501
12.6%
2.5%
Salaries & Wages
Expenses
241,249
14,688
249,183
13,752
256,323
10,701
258,317
4,921
265,040
12,800
270,359
12,800
275,766
13,121
281,282
13,379
286,907
13,653
292,645
13,933
10.4%
8.9%
2.1%
1.8%
Department Total
255,937
262,935
267,024
263,238
277,840
283,159
288,887
294,661
300,560
306,579
10.3%
2.1%
Salaries & Wages
Expenses
198,924
27,043
206,138
31,220
209,552
30,185
214,406
31,075
222,099
31,424
248,051
38,424
253,012
40,897
258,072
44,420
263,234
47,949
268,498
52,827
20.9%
68.1%
4.2%
13.6%
Department Total
225,967
237,359
239,737
245,481
253,523
286,475
293,910
302,492
311,183
321,326
26.7%
5.3%
Description
Department of Public Works
Estimate 5-Yr Fore.
Annual
FY17
% Inc. Avg % Inc
DPW Snow & Ice
Street Lights
Sanitary Landfill
Health Department
Council on Aging
Youth Commission
5
Expenditure Forecast FY13-17
Actual
FY08
Actual
FY09
Actual
FY10
Actual
FY11
Budget
FY12
Estimate
FY13
Estimate
FY14
Estimate
FY15
Estimate
FY16
Estimate 5-Yr Fore.
Annual
FY17
% Inc. Avg % Inc
Salaries & Wages
Expenses
137,504
9,303
148,520
8,781
151,891
6,975
146,964
3,989
153,475
4,134
161,728
6,750
164,963
6,959
168,262
7,571
171,627
8,355
175,060
9,560
14.1%
131.3%
2.8%
26.3%
Department Total
146,807
157,301
158,865
150,953
157,609
168,478
171,921
175,833
179,982
184,620
17.1%
3.4%
Salaries & Wages
Expenses
15,123
44,524
16,234
43,681
16,680
40,552
16,680
54,089
16,837
55,060
20,075
57,781
20,477
59,097
20,886
60,235
21,304
61,395
21,730
62,579
29.1%
13.7%
5.8%
2.7%
Department Total
59,648
59,915
57,232
70,769
71,897
77,856
79,573
81,121
82,699
84,309
17.3%
3.5%
Expenses
1,243
1,420
1,263
2,565
2,800
2,800
2,800
2,856
2,875
2,901
3.6%
0.7%
Department Total
1,243
1,420
1,263
2,565
2,800
2,800
2,800
2,856
2,875
2,901
3.6%
0.7%
Salaries & Wages
Expenses
620,939
219,197
642,515
235,731
648,186
404,756
639,465
250,273
660,164
247,461
624,960
261,135
641,112
260,497
657,816
267,241
675,046
273,253
692,932
278,819
5.0%
12.7%
1.0%
2.5%
Department Total
840,136
878,246
1,052,943
889,737
907,625
886,095
901,609
925,057
948,299
971,751
7.1%
1.4%
Salaries & Wages
Expenses
210,746
-
215,311
-
183,808
-
187,467
-
193,663
-
198,048
-
202,009
-
206,049
-
210,170
-
214,374
-
10.7%
0.0%
2.1%
0.0%
Department Total
210,746
215,311
183,808
187,467
193,663
198,048
202,009
206,049
210,170
214,374
10.7%
2.1%
Expenses
780
1,050
2,000
2,000
2,000
2,000
2,000
2,000
2,000
2,000
0.0%
0.0%
Department Total
780
1,050
2,000
2,000
2,000
2,000
2,000
2,000
2,000
2,000
0.0%
0.0%
Description
Veteran's Services
Trustees Soldiers Memorial
Library
Recreation
Cultural Council
Historical Commission
6
Expenditure Forecast FY13-17
Description
Salaries & Wages
Expenses
Actual
FY08
18,362
6,300
Actual
FY09
18,196
6,730
Actual
FY10
14,734
2,345
Actual
FY11
16,603
2,482
Budget
FY12
18,581
5,725
Estimate
FY13
18,783
5,725
Estimate
FY14
19,159
5,747
Estimate
FY15
19,542
5,769
Estimate
FY16
19,933
5,892
Estimate 5-Yr Fore.
Annual
FY17
% Inc. Avg % Inc
20,331
9.4%
1.9%
5,916
3.3%
0.7%
Department Total
24,662
24,926
17,079
19,085
24,306
24,508
24,906
25,311
25,825
26,247
8.0%
1.6%
General Fund Principal
General Fund Interest
5,084,487
3,436,878
5,153,091
3,268,568
5,239,068
3,023,479
5,400,318
3,271,890
6,880,928
3,837,247
7,994,232
3,461,669
7,965,894
2,967,070
7,369,939
2,687,547
6,678,095
2,438,617
6,683,197
2,196,531
-2.9%
-42.8%
-0.6%
-8.6%
Department Total
8,521,365
8,421,658
8,262,547
8,672,208
10,718,175
11,455,901
10,932,964
10,057,486
9,116,712
8,879,728
-17.2%
-3.4%
Salaries & Wages
Expenses
4,822
422,321
5,579
397,178
5,775
459,345
7,310
456,430
7,382
445,424
7,463
413,900
7,612
477,810
7,765
483,395
7,920
494,304
8,078
507,627
9.4%
14.0%
1.9%
2.8%
Department Total
427,144
402,757
465,120
463,740
452,806
421,363
485,422
491,159
502,224
515,706
13.9%
2.8%
Salaries & Wages
Expenses
591,000
249,598
610,484
238,148
599,499
283,334
645,593
318,521
655,049
318,771
680,025
318,771
693,626
336,549
707,498
341,999
721,648
347,488
736,081
353,225
12.4%
10.8%
2.5%
2.2%
Department Total
840,598
848,632
882,833
964,114
973,820
998,796
1,030,175
1,049,497
1,069,136
1,089,306
11.9%
2.4%
Sewer Fund Principal
Sewer Fund Interest
422,189
262,936
434,861
238,887
564,757
239,864
562,164
217,957
596,852
210,538
582,039
199,987
553,069
166,366
554,884
147,242
565,180
127,375
566,620
107,172
-5.1%
-49.1%
-1.0%
-9.8%
Department Total
685,125
673,748
804,621
780,121
807,390
782,026
719,435
702,126
692,555
673,792
-16.5%
-3.3%
Salaries & Wages
Expenses
14,460
2,847,009
14,880
3,194,301
14,880
3,302,262
15,000
3,643,000
15,000
4,105,200
15,000
4,281,250
15,264
4,445,323
15,533
4,645,989
15,808
4,846,895
16,088
5,048,582
7.3%
23.0%
1.5%
4.6%
Department Total
2,861,469
3,209,181
3,317,142
3,658,000
4,120,200
4,296,250
4,460,587
4,661,523
4,862,703
5,064,670
22.9%
4.6%
Debt Service
Country Club
Sewer O & M
Sewer Debt
Wastewater Treatment Plant
7
Expenditure Forecast FY13-17
Actual
FY08
Actual
FY09
Actual
FY10
Actual
FY11
Budget
FY12
Estimate
FY13
Estimate
FY14
Estimate
FY15
Estimate
FY16
Salaries & Wages
Expenses
462,670
1,464,742
468,427
1,633,871
489,090
1,700,909
509,633
1,803,423
512,948
1,839,716
534,234
1,881,895
544,919
1,901,016
555,817
1,933,792
566,933
1,967,534
578,272
2,002,652
12.7%
8.9%
2.5%
1.8%
Department Total
1,927,412
2,102,298
2,189,999
2,313,056
2,352,664
2,416,129
2,445,935
2,489,610
2,534,467
2,580,924
9.7%
1.9%
Water Fund Principal
Water Fund Interest
1,238,186
581,275
1,359,713
571,210
1,326,745
509,143
1,368,783
440,130
1,578,626
487,939
1,552,946
438,096
1,476,050
355,756
1,254,050
310,528
1,005,950
267,570
943,050
229,049
-40.3%
-53.1%
-8.1%
-10.6%
Department Total
1,819,461
1,930,923
1,835,888
1,808,913
2,066,565
1,991,042
1,831,806
1,564,578
1,273,520
1,172,099
-43.3%
-8.7%
Salaries & Wages
Expenses
28,842,484
5,901,657
30,299,497
7,014,619
30,845,521
7,233,627
31,272,727
7,976,935
31,561,458
8,421,395
32,708,121
8,574,788
33,128,121
9,044,788
33,548,121
9,514,788
33,968,121
9,984,788
34,388,121
10,454,788
9.0%
24.1%
1.8%
4.8%
Department Total
34,744,140
37,314,116
38,079,148
39,249,663
39,982,853
41,282,909
42,172,909
43,062,909
43,952,909
44,842,909
12.2%
2.4%
1,474,808
1,753,704
1,915,410
2,113,845
2,217,379
2,313,613
2,414,024
2,518,793
2,628,108
2,742,168
23.7%
4.7%
76,212,121
79,479,396
82,059,096
83,376,601
89,057,214
92,019,880
93,692,635
95,115,879
96,635,197
99,160,031
11.3%
2.3%
3,746,873
2,861,469
685,125
427,144
4,033,221
3,209,181
673,748
402,757
4,025,888
3,317,142
804,621
465,120
4,121,969
3,658,000
780,121
463,740
4,419,229
4,120,200
807,390
452,806
4,407,171
4,296,250
782,026
426,363
4,277,741
4,460,587
719,435
490,422
4,054,188
4,661,523
702,126
496,159
3,807,987
4,862,703
692,555
507,224
3,753,023
5,064,670
673,792
520,706
(0)
22.9%
-16.5%
15.0%
(0)
4.6%
-3.3%
3.0%
5,568,371
2,702,465
8,535,732
8,521,365
34,744,140
5,739,920
2,673,001
8,279,233
8,421,658
37,314,116
5,787,761
2,695,966
9,413,590
8,262,547
38,079,148
5,933,923
2,778,913
8,580,519
8,672,208
39,249,663
6,152,712
2,595,298
10,315,100
10,718,175
39,982,853
6,185,756
2,644,677
10,841,200
11,455,901
41,282,909
6,313,531
2,746,772
11,607,050
10,932,964
42,172,909
6,443,452
2,832,560
12,540,551
10,057,486
43,062,909
6,570,807
2,921,825
13,609,582
9,116,712
43,952,909
6,704,889
2,994,884
14,771,866
8,879,728
44,842,909
Description
Water O & M
Estimate 5-Yr Fore.
Annual
FY17
% Inc. Avg % Inc
Water O & M Debt
School Department
Worcester Retirement Assessment
Grand Total
Water Department
WWTP
Sewer Department
Country Club
Public Safety
Public Works
Insurance
Debt Service
Schools
8
Expenditure Forecast FY13-17
Description
Assabet Regional
Library
Senior Center
Landfill
All Other
Actual
FY08
920,909
840,136
225,967
730,479
5,701,945
Actual
FY09
783,917
878,246
237,359
666,848
6,166,191
Actual
FY10
775,285
1,052,943
239,737
696,297
6,443,052
Actual
FY11
686,187
889,737
245,481
684,355
6,631,786
Budget
FY12
632,037
907,625
253,523
757,812
6,942,454
Estimate
FY13
675,000
886,095
286,475
771,606
7,078,451
Estimate
FY14
688,500
901,609
293,910
785,325
7,301,881
Estimate
FY15
702,270
925,057
302,492
798,494
7,536,613
Estimate
FY16
716,315
948,299
311,183
826,396
7,790,698
68,491,510
76,212,121
71,160,490
79,479,396
73,446,325
82,059,096
74,352,771
83,376,601
79,257,589
89,057,214
82,108,070
92,019,880
83,744,450
93,692,635
85,201,883
95,115,879
86,764,727
96,635,197
9
Estimate 5-Yr Fore.
Annual
FY17
% Inc. Avg % Inc
730,642
971,751
321,326
853,501
8,076,344
89,147,840
99,160,031