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FY-99 CAPITAL BUDGET
INVESTMENTS: During the course of the past year we have placed the bulk of our municipal portfolio with Legg-Mason which handles all of our capital reserve accounts in accordance with investment guidelines established by the State of Maine. All the reserve accounts are now identified separately and reported on monthly. During the first of this year we began investing some of our funds that require a higher level of liquidity with the Maine Class Trust, an organization that specializes in providing investment vehicles for municipal governments and school systems. Additionally, we invest locally in CDs with area banking and savings institutions for much of our
short term operating fund requirements
ABBOTT MEMORIAL LIBRARY:
Total new tax request for capital improvements: $0
ADMINISTRATION:
Total new tax request for capital improvements: $0
AIRPORT RESERVE FUND:
We continue to budget for upgrading the airport in accordance with the Master Plan. Our long-range goal is to continue with an incremental upgrade of this facility. We are intending to undertake a minor paving project this year which will take advantage of some opportunities available while we are paving a portion of the Airport Road. We are requesting only $400 to add to the account for future improvements.
Total new tax request for capital improvements: $400.
AMBULANCE EQUIPMENT:
We are requesting $11,000 for this account to place toward the purchase of a remount for an existing ambulance. With this addition the account will have approximately $28,000 to be placed toward the project. Total cost of the remount will be about $50,000.
Total new tax request: $11,000.
ASSESSING:
This account is accruing for a future property revaluation and offset the cost of having some of our maps digitized. Total new tax request: $3,500.
BUILDING IMPROVEMENTS:
This year we are initiating a badly needed long range planning process to upgrade some of our older facilities. In addition to a of maintenance and improvement projects that are identified within the operating budget we have created a plan of attack for addressing some of our more critical building needs during the next five years. A summary of those capital projects is attached. Total new tax request for capital improvements: $21,000.
FIRE STATION DRIVEWAY:
This account will remain dormant again this year.
Total new tax request: $0.
FIRE EQUIPMENT:
We are requesting $20,000 this year to set aside for the future purchase of a new fire truck. pay for a new replacement fire truck. Total new tax request: $20,000.
MUSEUM:
We established a Capital Reserve Account for the Dexter Historical Society last year with an initial contribution of $3,000. The primary purpose of the account is to set aside funds for major building costs. The Historical Society has requested $3000 again this year with the goal of reaching $12000 to replace the roof. Total new tax request: $3,000.
HIGHWAY EQUIPMENT/FACILITIES:
We are planning to acquire a new dump truck this year to replace an older vehicle and we are also budgeting for funds to address some major bridge replacement work that should be undertaken before next winter.
Total new tax request: $67,000.
ORDINANCE CODIFICATION:
This account was created to comply with the requirements in the Charter which mandate codification of all ordinances as part of the Town Code. Total new tax request: $0.
POLICE CRUISER:
As you know, we just purchased a new cruiser this year, and the plan is to acquire a new vehicle every two years. We are requesting to set aside $11,000 to meet the planned purchase of a new vehicle in the year 2000.
Total new tax request for deposit in the reserve account: $11,000.
SIDEWALKS:
We don't intend to undertake any major repairs or construction of sidewalks this year. The current balance in the reserve account is approximately $20,500.
Total new tax request: $0.
STREET REPAIRS/PAVING:
This account was established to provide funding to meet the town's paving needs so we can establish a long term stabilized paving plan, and don't have to borrow large amounts of money to react to crisis situations. The Public Works Director has undertaken a plan to accomplish major paving projects every two years to take advantage of better prices offered by contractors when larger volume projects are involved. A copy of this year's plan is attached. We intend to use funds that currently exist in the reserve plus the new appropriation. Total new tax request: $55,000.
INFORMATION MANAGEMENT CAPITAL RESERVE:
We are proposing the creation of this capital reserve account to set money aside annually for the future acquisition of computers, printers, software, copiers, communications systems, and data management systems. The "heart" of our current data management system is obsolete, difficult to maintain, and it's functionality as we approach the year 2000 is highly questionable. Because this system is critical to the overall operation of the Town it has a very priority for replacement. Unfortunately, the cost to acquire a replacement system will be approximately $18,000. We are seeking to set aside $10,000 this year and are hopeful of having a new data management system operational prior to January 1, 2000.
SUMMARY
Unfortunately, the demands on our capital reserves for the maintenance and improvement of our aging facilities has increased. Because long range planning is so critical to providing for the "high cost" needs of the community, the majority of funding we are seeking this year to support capital programs will be placed in reserve accounts for future needs that we have already identified. Most of the demand for these funds will be going to essential items such as boiler and roof replacement, ADA and safety compliance, and the replacement of aging equipment. Dexter has reached the point that the community can no longer afford to ignore undertaking many of the capital projects that are essential to the heath and welfare of the community.
CAPITAL RESERVE ACCOUNTS
FY 1999 ACTIVITY PROJECTIONS
| |
7/1/98 |
FY 99 |
FY 99 |
FY 99 |
| ACCOUNT |
BALANCE |
APPROP |
AVAILABLE |
EXPEND |
| LIBRARY |
$ 9,343 |
$ 0 |
$ 9,343+ |
$ 0 |
| AIRPORT |
$ 21,986 |
$ 400 |
$ 22,386+ |
$ 10,000 |
| AMBULANCE |
$ 17,033 |
$ 11,000 |
$ 29,033+ |
$ 29,000 |
| ASSESSING |
$ 8,759 |
$ 3,500 |
$ 12,259+ |
$ 0 |
| BUILDINGS |
$ 3,076 |
$ 21,000 |
$ 24,876+ |
$ 0 |
| FIRE DEPT DR |
$ 2,621 |
$ 0 |
$ 2,621+ |
$ 0 |
| FIRE DEPT EQUIP |
$ 18,657 |
$ 20,000 |
$ 38,657+ |
$ 0 |
| MUSEUM |
$ 3,000 |
$ 3,000 |
$ 6,000+ |
$ 0 |
| CODIFICATION |
$ 867 |
$ 0 |
$ 867+ |
$ 0 |
| POLICE EQUIP |
$ 1,427 |
$ 11,000 |
$ 12,427+ |
$ 0 |
| SIDEWALKS |
$ 20,522 |
$ 0 |
$ 20,522+ |
$ 0 |
| STREET REPAIRS |
$ 89,612 |
$ 55,000 |
$ 135,000+ |
$ 135,000 |
| HIGHWAY EQUIP |
$ 129,827 |
$ 67,000 |
$ 196,327+ |
$ 62,000 |
| INFO MGT |
$ 9,772 |
$ 10,000 |
$ 19,772+ |
$ 0 |
| TOTALS |
$ 336,502 |
$ 201,900 |
$ 530,090 |
$ 236,000 |
FISCAL YEAR 1998 CAPITAL FUNDS PROJECTIONS
| ACCOUNT NAME |
07/01/97 BALANCE |
97/98 REQUEST |
07/01/97 AVAILABLE |
97/98 EXPENSE |
EXPECTED balance |
| Library |
$ 7,900 |
$ 4,700 |
12,600 |
$ 4,700 |
$ 8,295 |
| Administration |
2,000 |
2,000 |
4,000 |
0 |
4,200 |
| Airport Development |
8,581 |
4,000 |
12,581 |
0 |
13,210 |
| Ambulance Equipment |
18,161 |
15,000 |
33,161 |
33,161 |
0 |
| Assessing |
6,935 |
1,500 |
8,435 |
-0- |
8,857 |
| Building Improvements |
2,698 |
21,000 |
23,698 |
21,000 |
2,833 |
| Cemetery Reserve |
3,302 |
0 |
3,302 |
0 |
3,467 |
| Code Enforcement |
0 |
500 |
500 |
0 |
525 |
| Fire Dept. Driveway |
2,474 |
0 |
2,474 |
0 |
2,598 |
| Fire Dept. Equipment |
13,818 |
30,000 |
43,818 |
0 |
46,009 |
| Grist Mill |
0 |
3,000 |
3,000 |
0 |
3,150 |
| Highway Equipment |
131,482 |
53,000 |
184,482 |
53,000 |
138,056 |
| Ordinance Codification |
819 |
0 |
819 |
300 |
545 |
| Parks & Recreation |
0 |
3,000 |
3,000 |
3,000 |
0 |
| Police Cruiser |
14,000 |
7,000 |
21,000 |
21,000 |
0 |
| Police Equipment |
5,504 |
1,000 |
6,504 |
0 |
6,829 |
| Sidewalks |
19,368 |
0 |
19,368 |
0 |
20,336 |
| Street Bonds |
10,640 |
0 |
10,640 |
0 |
11,172 |
| Totals: |
$247,682 |
$145,700 |
$393,382 |
$136,161 |
$270,082 |
TOWN OF DEXTER SUMMARY
PROPOSED FY 99 MUNICIPAL OPERATING BUDGET
(as of: 5/30/98)
| REVENUES: |
1997-98 |
1998-99 |
INCREASE/ DECREASE |
%CHANGE OF ACC'T FOR FY 99 |
REMARKS |
| CHARGES FOR SERVICES |
$ 30,630 |
$ 117,450 |
$ 86,820 |
283% |
Ambulance & Rec fees now included as revenue |
| FINES & FORFEITS |
$ 775 |
$ 575 |
($200) |
(26.0%) |
Adjusted projections |
| INTERGOVERNMENTAL REVENUE |
$ 399,400 |
$ 402,274* |
$ 2,874 |
1.0% |
Incorporates anticipated revenues from Law Enforcement Grant |
| LEASES & RENTALS |
$ 27,400 |
$ 30,000 |
$ 2,600 |
9.0% |
Reflects increased revenues from lease of Hewitt Bldg |
| LICENSES & PERMITS |
$ 4,430 |
$ 4,180 |
($250) |
(6.0%) |
Adjusts of projections based on performance history |
| OTHER REVENUE |
$ 75,371 |
$ 129,290 |
$ 53,919 |
72% |
Reflects incorporation of cemetery income into revenue budget |
| TAXES (Except Property) |
$ 360,500 |
$ 367,400 |
$ 6,900 |
2.0% |
Adjustments in projections based on performance history |
| TRANSFERS--SURPLUS |
$ 100,000 |
$ 50,000 |
($50,000) |
(50%) |
Reduction in use of General Fund to offset expense requirements |
| TOTAL: |
$ 998,506 |
$ 1,101,169 |
$ 102,663 |
10% |
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* Does not reflect anticipated Community Development Block Grant Funds
TOWN OF DEXTER SUMMARY
PROPOSED FY99 MUNICIPAL OPERATING BUDGET (CONTINUED)
| EXPENDITURES: |
1997-98 |
1998-99 |
INCREASE/ DECREASE |
%CHANGE OF ACC'T FOR FY 99 |
REMARKS |
| GENERAL GOVERNMENT |
$ 531,472 |
$ 556,179 |
$ 24,707 |
4.6% |
Increased funding for economic dev., wages/benefits, and facilities |
| PUBLIC WORKS* |
$ 432,712 |
$ 443,424 |
$ 10,712 |
2.5% |
Increases for bridge repair, wages/benefits, and vehicle purchase |
| PUBLIC SAFETY** |
$ 338,796 |
$ 488,346 |
$ 149,550 |
44.0% |
Ambulance reflected as true expense, Police Grant, creation of Info Mgt Res |
| UTILITIES |
$ 137,425 |
$ 136,800 |
($625) |
(0.5%) |
|
| HEALTH & WELFARE |
$ 394,010 |
$ 410,455 |
$ 16,445 |
4.2% |
Reflects Gen Assistance Expenses
without reimbursements |
| PARKS & REC *** |
$ 111,221 |
$ 122,985 |
$ 11,764 |
10.6% |
Increases for facilities, wages/benefits, Kiwanis, golf course, and football |
| LIBRARY |
$ 83,009 |
$ 86,446 |
$ 3,437 |
4.1% |
Wages/benefits/subscriptions/equip |
| CEMETERY |
$ -0- |
$ 56,905 |
$ 56,905 |
100% |
Incorporates operating costs as expense |
| DEBT SERVICE |
$ 116,095 |
$ 115,856 |
($239) |
(0.2%) |
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| COUNTY TAX |
$ 105,546 |
$ 107,749 |
$ 2,203 |
2.1% |
|
| EDUCATION |
$1,280,208 |
$1,273,734 |
($6,474) |
(0.5%) |
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| TOTAL: |
$3,530,494 |
$3,798,879 |
$ 268,385 |
7.6% |
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| LESS TOTAL REVENUE: |
$ 998,506 |
$1,101,169 |
$ 102,663 |
10.3% |
|
| NET BUDGET: |
$2,531,988 |
$2,697,710 |
$ 165,722 |
6.5% |
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*includes airport/**includes information mgt reserve/***includes golf course, Dexterfest, snowmobile club, Elm Tree project & football
If you have comments or questions you would like to direct to Town Manager Bob Simpson, his email is
manager@dextermaine.org.
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