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STATE OF THE TOWN March 1, 2010 Madison, Connecticut.

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Presentation on theme: "STATE OF THE TOWN March 1, 2010 Madison, Connecticut."— Presentation transcript:

1 STATE OF THE TOWN March 1, 2010 Madison, Connecticut

2 C ONSTRUCTION AND R ENOVATION  Railroad Avenue rebuilt in 2009  Overbrook Road to be rebuilt in 2010  Downtown Center Project to start (finally) this spring  Rebuild Town Garage and Salt Storage Shed

3 M AJOR M AINTENANCE P ROJECTS  Replaced roofs at the Town Gym and Island Avenue Elementary School  Installed new water system at Ryerson Elementary and Brown Middle School (Connecticut Water Co)  Brown Middle School conversion from electric to gas heat in gym and domestic hot water  Replaced boiler and domestic hot water system at Ryerson Elementary School

4 C HANGES IN THE P OLICE D EPARTMENT  Police Commission – 3 new members  New Police Chief  Seven new officers hired since December 2008

5 S ENIOR T AX R ELIEF  Improved the tax abatement program last spring. Maximum benefit from $700  $950  Seventy two additional seniors in the abatement program: 336  408  A new charge for an ad-hoc committee just approved by the Board of Selectmen, featuring four new avenues for further study

6 Social Services  Inquiries to Municipal Agent for Elderly:  3,431 in (+52%)  Individuals receiving Financial Assistance:  76 in  up from 14 in  already at 84 in first six months of this year  State funded Energy Assistance application:  136 in (+55%)  already at 111 in first 6 months of this year

7 F INANCIAL H IGHLIGHTS  Refinanced High School bonds at a lower interest rate, for a savings of $1,458K over 15 years ($266K in )  Maintained bond rating of AA1 from Moody’s  Received “clean” opinion from auditor (again)  Funded pension with contribution required by actuaries

8 G RISWOLD U PDATE  Charge for ad-hoc design committee approved  Committee selection in process – over 30 applications received  March 24  Issue 20 year bonds for $7.92M to cover purchase price + bonding cost  Issue 8 month notes for $500M to cover remediation costs  May 4 – Close on property; delay so we can qualify for a large state grant

9 G RISWOLD U PDATE (continued)  2010 – Remove runway and buildings, complete remediation  November – In conjunction with Senior Center/ Ambulance bonds, issue 20 year bonds for $1.08M LESS any state or federal grants.  2011 – Construct playing fields, trails, etc.

10 S ENIOR C ENTER /A MBULANCE F ACILITY  Expect final approvals from Planning & Zoning this week  Construction start at Bradley Road site this spring  Move into new Senior Center early 2011  Move into new Ambulance Garage late 2011

11 F IVE Y EAR C APITAL P LAN ($000) Funding 1/28/10 Balance Budget Est Est Est Est. LOCAP $1,125$1,628$1,125$1,160$1,195$1,230$1,265 Technology Major Roads Highway Equipment Town Center Restoration TBD Ambulance Fire Trucks Police Cars Communications Fire Equipment Water Tanks Total $1,887$3,904$1,968$2,175$2,250$2,310$2,350

12 P OTENTIAL N EW D EBT C APACITY 2011$15 Million 2012$10 Million 2013$5 Million 2014$5 Million Note: This is a pro forma analysis only. No new projects are being proposed

13 Municipal Per Capita Expenditures Current Year ( ) Budget Population 16,000 to 20,000 1.New Canaan$2,285 2.Rocky Hill$1,605 3.Ansonia$1,588 4.Bethel$1,271 5.Seymour$1,227 6.Plainville$1,156 7.East Lyme$1,113 8.Monroe$1,088 9.Brookfield$1, Madison$1,043 11Montville$983

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