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BUDGET REDUCTIONS THESE ARE OPTIONS FOR THE TOWN TO CONSIDER Options for Budget Reductions.

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Presentation on theme: "BUDGET REDUCTIONS THESE ARE OPTIONS FOR THE TOWN TO CONSIDER Options for Budget Reductions."— Presentation transcript:

1 BUDGET REDUCTIONS THESE ARE OPTIONS FOR THE TOWN TO CONSIDER Options for Budget Reductions

2 TO STABILIZE THE MIL RATE AS THE VALUATION OF THE MILL DECREASES. PROJECTED VALUATION DECREASE FOR FISCAL YEAR 16 IS $50 MILLION. TARGETED BUDGET REDUCTION FOR FISCAL YEAR 2016 IS $1.5 TO $2.0 MILLION. REDUCE IMPACT TO LOCAL TAXPAYERS. Goals and Objectives

3 Previous Years Town Budgets Only (School not Included) $6,722, $6,035, $5,801,144 (-$921,413) Revenue Decrease in same period dropped from $2,806,720 to $2,522,736 (-$283,984) Total Decrease from FY 12/13 (-$1,205,397) Employment Levels between 2012 to 2014 went from 42 to 34 Full Time (-8) Equipment Refurbishment-Purchases 2011 MetalFab Fire Truck 2002 Kovatch Fire Truck Ambulance 2002 Plow Truck Rebuilt by P.W. Crew in Cat Loader Rebuilt by P.W. Crew in 2014 GNP Mill Valuation $78,897, $ 74,513, $47,664, $ 3,177,800

4 What have we done? Tax Anticipation Note. Tax Commitment and Due Date for Tax Payments. Implemented Tighter Spending Controls. Tax Acquired Policy and Procedures Implemented. Appropriated $500,000 to place into Fund Balance to keep Town AND School Operational. Funding the Legal Expense to Reduce or Eliminate School Retiree Health Insurance.

5 THESE ARE ONLY OPTIONS. THE TOWN COUNCIL WILL NEED TO DELIBERATE AND DECIDE A COURSE OF ACTION. IT IS MANAGEMENT’S ROLE TO PROPOSE OPTIONS. Proposed Budget Reductions

6 Administration Eliminate Part Time Clerical (Police-CED-Assessor) Police: Do not fill in new vacancy OR Detective vacancy. Fire: Reduce workforce by 2 men now and do not replace retirements or resignations. EMS: Contract EMS to East Millinocket Airport Contract all Airport Operations for $1. Recreation Eliminate all but swimming pool operations for a 6 week period only. Administration for Snowmobile Grant and other minimal expenses. Library Eliminate Building Costs from Budget. Rely on Donations to fund. All Other Departments: To find Efficiencies and Service Modifications.

7 Capital Expenditures Eliminate all highway improvements (hot top) except what is paid by Local Roads Assistance. Eliminate all Capital Purchases for 1 year. Heavy Equipment Technical Equipment Building Improvement Debt: Restructure Debt when possible and feasible.

8 Budget Reductions Includes other Misc. Cuts to be taken from Fringe Benefits-Insurance Accts. Administration $8,970 (includes FICA) Elim. Part-Time Clerical Police $111,000 Reduction in Force (2 vacancies & clerk) Fire $65,000 Reduction in Force (2 half time) Ambulance $63,950 Reduction in Force (2 half time) 258,920 Expenditures (Contract w/East Mill) $ Revenue Offset Loss Airport $157,228 Expenditures (Contract to FBO) $ Revenue Offset Loss

9 Recreation $50,000 Library $23,000 Capital ($770,016) Street Paving $250,000 Heavy Equipment $519,516 Technical Equipment $0 Buildings $500 Budget Reductions Includes other Misc. Cuts to be taken from Fringe Benefits-Insurance Accts.

10 Revenue Reductions Ambulance $357,311 Airport $102,500 Other: $175,000 Revenue Sharing (150,000) Tax Interest & Cost (20,000) Tree Growth (5,000) Total $634,811

11 Total Reductions Expenditure Reductions: $1,508,084 Revenue Reductions ($634,811) Net Budget Reductions $873,273

12 EXPENDITURES TOWN DECREASE OF: (-1,508,084) SCHOOL: (SAME AS FY 15) REVENUES TOWN DECREASE OF: (-634,811) SCHOOL INCREASE OF: $873,273 MIL RATE: $29.66/$1,000 VALUE Tax Commitment

13 Debt 3.1% Indebted State Limits Towns to borrow up to 15% of total State Valuation ItemAmount Outstanding 6/30/14 Final Payment Copier Lease$ 7, Swimming Pool$640, Energy Improvements$204, Metalfab Fire Truck$181, Kovatch Fire Truck$ Total Town:$1,164, School Bond 1998$1,591, School Bond 2011 Boiler$1,371, School Copier Leases:$ 91, Total School:$3,054, Wastewater Boiler$ 35, SRF $512, CWSRF$773, Total Wastewater:$1,320, Current bonded debt total is $5,539,377.94

14 QUESTIONS?


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