Presentation on theme: "Town of Madison Board of Selectmen Approved Town Budget Public Hearing March 4, 2009."— Presentation transcript:
Town of Madison Board of Selectmen Approved Town Budget Public Hearing March 4, 2009
Town of Madison / Board of Selectmen Recommended Budget 2009-2010
Timetable for Budget Development and Review of Town Budget January – MarchPreparation and review of Preliminary Budget Recommendation March 2 nd Board of Selectmen approval of recommended budget March 4 th Public Hearing March 10 th -31 st Board of Finance Review April 28 th Public Hearing April 30 th Board of Finance approval of Final Recommended Budget May 19 th Proposed Budget Referendum Date
Planned and Cycled Maintenance Fund Suggested Projects: Dog Pound / paving and grading East Wharf / storm drain Exchange Field / Pave and widen driveway Memorial Town Hall / Painting and carpeting Police Station / Sidewalk replacement and Energy Improvements Strong Field Bleachers / Painting Exterior Metal Surf Club / Paint Exterior Trim Surf Club Garage / Install public water
Five Year Capital Plan Fiscal Year2008/20093.2.092009-20102010-20112011-20122012-20132013-2014 Budget DetailFundingBalanceBudget RequestEstimate Technology100,000231,39075,000 Major Roads235,000925,142135,000325,000 350,000 Highway Equipment160,000207,606135,000160,000170,000 Town Center Renovation Project * 101,758 Vehicles Ambulance65,00068,38745,00049,335 Madison Fire Dept150,000968120,000150,000 175,000 North Madison80,000146,305115,00090,000 Police65,00010,96058,000 75,000 Public Safety Communications125,000220,86925,000125,000 Water Tank Installation50,00045,13750,000 Hose Equipment- Madison Hose15,0004,61120,00015,000 Hose Equipment- North Madison1500036,81010,00015,000 Total1,060,0001,999,945788,0001,112,3351,139,3351,164,3351,189,335 *Town Center Renovation Project additional funding $500,000 STEAP GRANT (Small Town Economic Assistance Program) $250,000 Urban Action Grant Program
Approved Budget 2008-2009 Projected Budget 2009-2010 Change Summary of Major Changes in Projected Revenue for 2009-2010 Investment Revenue decrease due to reduction in interest rates to 1.2% $ 726,383 $ 553,071 $ (173,312) Town Clerk fees decrease due to Real Estate slowdown $ 690,000 $ 650,000 $ (40,000) Building and Land Use fees decrease due to Real Estate slowdown $ 485,600 $ 379,200 $ (106,400) Increase in Beach & Recreation fee structure & Rentals $ 432,660 $ 512,760 $ 80,100 Net Change in Town State Aid Reimbursement $ 977,056 $ 905,663 $ (71,393) Net Change in Education State Aid Reimbursement $1,679,839 $1,703,612 $ 23,773 Decrease in Projected Revenue $4,991,538 $4,704,306 $ (287,232) State Aid to Roads is also being reduced by $ 42,824 which is reflected in the Expenditure Budget.