| To: |
Board of Selectmen |
| |
Finance Committee
|
| From: |
Daniel J. Morgado |
| Date: |
March 12, 2004 |
| Re: |
Fiscal Year 2005
Budget Revisions |
| |
|
Attached are my latest revisions
to my budget filing of January 22, 2004 which are reflective
of changes in my projections for both revenue and expenses
for Fiscal Year 2005.
Unfortunately, my best efforts have fallen far short and
there remains a projected budget deficit of $1,200,000 as
of this writing. In addition, we must continue to be concerned
over the status of the Governor’s House One budget proposal
which increases state aid by $1,615,465. Any portion of this
increase that is not supported by the General Court will negatively
impact this projected deficit.
The following documents are attached:
|
Adobe Acrobat
Reader is required to view these files.  |
| Title |
Purpose |
| Fiscal
Projection Three |
This
updates both revenue and charges. Note the introduction of $90,223.00
in Overlay Reserve. The Board of Assessors today released the
surplus overlay for the fiscal years 1997 to 2001. I propose
that these funds be transferred to the Reserve Fund for FY 2005. |
|
| Trial
Recapitualtion - Fiscal year 2005 - Through Level Three |
This provides
the latest update on all revenue and charges. You will note
changes in revenue in the form of the overlay reserve and charges
in the form of the operating budget, FY 2004 deficits and the
capital budget. |
| |
| Budget
Summary - Fiscal Year 2005 - Level Three Adjustments |
This
is the latest update by department incorporating all level 1,
2 and 3 reductions. It is also reflective of the current school
department proposal. I have added a column to show how the departmental
budgets have changed from the initial budget filing on January
22, 2004. |
| |
| Budget
Summary - FY 2005 |
This
shows the current proposed budget by object area. |
| |
| Comparison
of the Various Trial Recapitulations - Fiscal Year 2005
|
This
document reviews how the various revenue and charges categories
have changed from the initial filing through the level three
reductions. |
| |
| Analysis
of Employer and Employee Contribution Rates for Group Health
Insurance |
I
have prepared a summary of health insurance contribution rates
for informational purposes. |
| |
| Departmental
Budget Summary Sheets |
I
have modified the departmental budget summary sheets to show
how the level 1, 2 and 3 reductions are being handled on a line
item basis. I am prepared to review with you each of the individual
changes that are being proposed. |
| |
