Update 05/09/16

AGENDA  Re-cap of 5/4 Council Approved changes  Staff’s Alternate Budget Proposal  Goals  Financial details  Recommendations – pending State revenue final figures  Questions

Based on Mill Rate

 Economic equivalent alternative ◦ Achieve reduction of $1,579,500 ◦ Maintain Mill Rate ◦ Departmentally endorsed plan  Goals ◦ Identify cuts that had the least long term service impact ◦ Restore critical capital items  Excavator  18 yr old facilities van replacement ◦ Restore portion of education funding Staff’s Alternate Budget Proposal

GOALS ACHIEVED  Restored Critical Items  Excavator - $53,000  Facilities Van - $37,000  BOE Operating Budget - $100,000  Offset by numerous department recommended reductions  Offset by revenue increase from Solar Energy - $90,000  Expenditure reduction - $1,522,947  Net economic impact - $1,612,947  Maintained Mill Rate

State Revenue Figures - Unknown  May 4 th preliminary figures from CCM - $197,000 increase. Town Manager proposal: Allocate $132,000 to BOE Capital Allocate $65,000 for engineering plan-Annex building design  If State revenue final figures are different.  Specific recommendations will be provided to Council for Town & BOE Budget

 In the absence of final State figures. Recommend no action taken tonight.  5/11 Budget Workshop  If State Budget is final prior to 4pm on 5/11, continue with meeting  If State Budget is not final by 4pm on 5/11, cancel meeting and make final decisions at 5/16 Council meeting.

QUESTIONS?