FY 2021 TOWN BUDGET TOWN MANAGER PRESENTATION March

FY 2021 TOWN BUDGET TOWN MANAGER PRESENTATION March 2, 2020

BUDGET HIGHLIGHTS • FY 2021 Town Manager’s Budget recommendation balanced without the use of reserves • The FY 2021 Budget uses 1. 875% of the allowable 2. 5% property tax increase under Proposition 2. 5, less than the 2% used in FY 2020, while fully funding the School Committee request, and the FY 2021 Town Manager’s Capital Plan • Two new positions added to the DPW. A laborer to help with field maintenance and the anticipated needs of Wolf Swamp Athletic Fields and the Adult Center, and a custodian for maintenance and cleaning of the new Adult Center building • Two additional Firefighters/EMTs to meet the increasing demand for services and steady the use of overtime, paid from Ambulance Receipts • Storrs Library budget meets Massachusetts Board of Library Commissioners budgetary funding levels for the first time since FY 2009 • FY 2021 will be the first full FY with WESTCOMM, the FY 2021 allocation is $155, 000, less than the FY 2019 expenses of $210, 354 (salaries only) • Increase to FY 2021 Capital allocation of. 125% ($126, 246) to 3. 125% up from 3% in FY 2020

CHALLENGES • State Aid, the second largest revenue source for the Town, only saw a 2. 37% ($165, 257) increase, much less than the 6. 60% ($432, 814) increase in FY 2020 • The reliance on Property Tax Revenue to fund 81. 28% of the General Fund budget and the approaching tax ceiling • The changing recycling market has required the Town to add $158, 100 to the operating budget to cover the cost of disposal

FY 2021 REVENUES FROM ALL FUNDS $77, 096, 084 Water ; $2 952 778; 4% Solid Waste / Recycling ; $320 000; 0% Sewer; $2 165 663; 3% School Special Revenue; Stormwater; $378 120; $2 079 979; 3% 0% Local Receipts ; $5 850 094; 8% State Aid (net of offset & charges); $7 159 876; 9% Property Taxes (net); $56 189 574; 73%

FY 2021 EXPENDITURES FROM ALL FUNDS $77, 096, 084 Other; $2 442 495; 3% General Government; Public Safety; $1 668 510; 2% $5 774 907; 7% Employee Planning & Community Benefits/Liability Ins (GF Development; $190 870; only); $10 890 125; 14% 0% Debt Service (GF only); $5 619 501; 7% Community Services; $1 778 985; 2% Department of Public Works; $10 623 444; 14% Schools; $38 107 247; 49%

AVAILABLE FUND BALANCES • Free Cash • Operational Stabilization Fund • Capital Stabilization Fund • • • $395, 038 $4, 163, 392 $59, 612 Water Retained Earnings $282, 567 Sewer Retained Earnings $738, 816 Solid Waste Recycling Retained Earnings $68, 452 Stormwater Retained Earning -$3, 034 Ambulance Reserve $425, 736 OPEB Trust Fund $2, 741, 990 *As of January 31, 2020

FY 2021 DEPARTMENT SUMMARY FY 2021 VS. FY 2020 GENERAL FUND ONLY • • General Government: 1. 42% ($23, 407) Public Safety: 4. 11% ($227, 936) Planning & Community Development: -2. 92% (-$5, 733) Schools: 2. 49% ($874, 139) Public Works: 2. 15% ($68, 990) Community Services: -2. 77% (-$50, 639) Debt Service: 8. 83% ($456, 172) Employee Benefits/Liability Insurance 4. 34% ($452, 897) Total FY 2021 General Fund Budget = 2. 77% ($1, 757, 169) over FY 2020 *When adjusted for one time appropriations in Legal and Forestry Expenses

QUESTIONS? A copy of this Power. Point and supporting budget documents are available on: www. longmeadow. org/budget