STATE OF THE TOWN
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Transcript of STATE OF THE TOWN
STATE OF THE TOWN
State of the Town 2007
Presented by:Hopkinton Chamber of Commerce
Purpose and Intent
To provide the community the business perspective on the
state of the town in advance of town meeting, town elections, and the start of a new business
cycle for town boards, committees and organizations.
Budget Process
Presented by:Anthony Troiano, Town Manager
FY2007 Tax Levy
Levy Limit $32,945,4982 ½ Increase 823,637New Growth 993,7432 ½ Override 1,933,119Existing Debt Exclusion
2,837,621
FY2007 Tax Levy Limit $39,533,618
FY2008 Tax LevyLevy Limit $36,695,9972 ½ Increase 917,400New Growth 800,0002 ½ Override 0Existing Debt Exclusion 3,318,989
FY2008 Tax Levy Limit $41,732,386
FY2008/2007 Comparisons FY2008 FY2007
Levy Limit $36,695,997 $32,945,498
2 ½ Increase 917,400 823,637
New Growth 800,000 993,7432 ½ Override 0 1,933,119Existing Debt Exclusion 3,318,989
2,837,621
Tax Levy $41,732,386 $39,533,618
FY2008 Available FundsActual Tax Levy $41,732,386
Local Receipts 3,600,000
Enterprise Funds 3,213,903State Aid 9,831,852Free Cash
522,133Transfers 852,805Overlay Surplus
26,720Total Revenues
$59,779,799
FY2008 Available FundsActual Tax Levy $41,732,386
Local Receipts 3,600,000Enterprise Funds 3,213,903State Aid 9,831,852Free Cash 522,133Transfers 852,805Overlay Surplus 26,720Total Revenues $59,779,799Charges Against Revenue
($1,070,016)FY2008 Available Funds $58,788,803
FY2008/2007 Comparison FY2008 FY2007
Actual Tax Levy $41,732,386 $39,533,618Local Receipts 3,600,000 3,540,440Enterprise Funds 3,213,903
2,787,398State Aid 9,831,852 9,987,636Free Cash 522,133 1,096,071Transfers 852,805 311,448Overlay Surplus 26,720 125,000Total Revenues $59,779,799 $57,803,079Charges Against Revenue ($1,015,996) ($1,071,017)Available Funds $58,763,803 $56,310,595
Available Funds FY2008 Budgets
Available Funds FY2008 $58,763,803Available Funds FY2007 56,310,595Additional Available Funds FY2008
$2,453,208Less:
Allocated Enterprise Funds $426,504Debt & Interest 391,789Benefits & Health Insurance 890,569 $1,708,862
Available Funds FY2008 Budgets $ 744,346
Level Services Budget FY2008
Level Services Budget $60,716,776Available Funds FY2008 58,733,063
Deficit/Shortfall ($ 1,983,713)
Cost/Yr/Avg Household $363.00
Financial Process
Presented by:Maureen Dwinnell, Town Treasurer
Other Impacts FY2008 Taxes
Capital Exclusions New Debt Exclusions Reduced Property Values Increased Tax Rate
FY2008 Capital ExclusionDPW Highway:
Dump Truck $180,000Dump Truck 150,000East Main Sidewalk 90,000
Recreation:EMC Field Lighting 75,000EMC Pole Lighting 40,000Town Common – Gazebo 60,000
Cemetery 25,000Dam Maintenance 90,000Downtown Revitalization
25,000
Total Capital Exclusions $735,000
Cost/Yr/Avg Household $133.50
FY2008 New Debt ExclusionPreviously Voted:
School Plans $150,000To Be Voted TM2007:
School Repairs 79,825School Fields 87,500Fire Rescue 17,000Grandstand 11,250
Total New Debt Exclusions $345,575
Cost/Yr/Avg Household $61.00
Capital Improvements Plan• East Hop Fire Station
• Woodville Fire Station
• DPW Facility
• Early Child School
• School Administration
• Hopkins School
• Elmwood School
• Recreation Fields
• Town Hall
• School Plans
• Middle School
• Stadium
• Fire Truck
• Boiler
Projected Debt Exclusion
Year Current Projected2009 $3,102,640 $4,941,838
2010 2,929,789 6,954,928 2011 2,706,444 6,911,2812012 2,518,076 6,639,6122013 2,288,731 6,437,9042014 2,684,044 6,680,5562015 2,462,867 6,345,9322016 1,853,192 5,622,8122017 1,689,695 5,345,8682018 1,412,314 4,955,042
Non-Excluded Items
Roads – General Budget & Ch. 90
Wells/Water Mains – User Fees WWTFs
Construction – Betterments Operating – User Fees
Other Tax Impacting Items
Bond RatingOpen SpaceCPA Funds
Bond Rating - AA
Municipal PlanFinancial PlanCommercial BaseProperty ValuesTax Collections/Delinquencies
ConcernsLevel Funding – Very DifficultBudget Cuts – CommonplaceOverides – Annual EventCapital Improvements – Delayed
Commercial Base
Presented by:Ron Roux, Hallmark Companies
Tax Base FY2007Class Valuation % of TotalResidential $2,617,019,595 84.95Open Space 444,700
.01Commercial 85,836,034 2.79Industrial 307,307,939 9.98Personal 70,038,180 2.27Total $3,080,646,448 100.00
Land Use
Class Acreage % of TotalResidential 6,976 48.3Commercial 306 2.1Industrial 1,035 7.1Open Space 5,678
39.4Municipal 195 1.4Institutional 241 1.7Total 14,431 100.0
Commercial/Industrial Base
Area Assessed Value
Downtown $ 18,347,500South Street 238,215,070Elmwood Park 26,802,700All Other 109,778,703Personal 70,038,180
Total $ 463,182,153
Downtown Potential Objective – “Boutique” Retail/Office Gathering Place for the Community Downtown Revitalization Committee Rezoning 2006 Town Meeting
Hopkinton Village Center Projected Buildout – Double Existing
Commercial Base
South Street Potential Objective – Increased Utilization Rezoning 2006 Town Meeting
Hopkinton Square Zoning Initiative – 2007 Town
Meeting Taller buildings
Targeted Buildout – Increase Commercial Base $200,000,000
Elmwood Park/495 Potential
Objective – Increased Utilization Zoning Initiative – 2008 Town
Meeting Taller buildings Uses/Hotels
Targeted Buildout – Triple Existing Commercial Base
Other Potential Commercial Erickson Retirement Community
Potential $250,000,000 Weston Nurseries Liberty Mutual Harvey’s Recycling Center
Plan of Action
Presented by: Scott Richardson, Gorman Richardson
Architects
Objective
Collectively work to create an environment that is conducive to commercial expansion … actively engaging all stakeholders in the process.
Next Steps Create the Proper Zoning
Initiatives Build the Necessary Infrastructure Develop Private/Public Initiatives
Erickson Retirement Communities
Weston Nurseries Streamline the Process
Critical Infrastructure Needs
Waste Water Treatment Facilities
Public Water Supply Traffic Improvements
Immediate Action Items
Upcoming Town Meeting South Street Zoning WWTF Funding
Upcoming Elections Implement Infrastructure
Improvements
Conclusion
The degree to which a
community succeeds in achieving its goals and objectives is directly tied to the constructive involvement of all its stakeholders … the alternative is unacceptable.