Planning for FY18-19 Canterbury Budget Presented to the Canterbury Board of Finanace Raymond Sulich Jr. BOF Chairman Prepared: 2/25/2018

FY2017-2018 Approved Budget

BMS Roof Financing: $140,000 Potentially Underfunded by $250,836 May ask for $300,000 or more additional funding Cuts to $300,000 could involve cuts to programs “Contractual” increases? Insurance and Benefit increases? Right Fund CIP: $359,149 BOE wants: $375,000

+$375,000 (New BOE CIP request) BMS Roof Financing $140,000 +$250,836 (Education) Potentially Underfunded by $250,836 +$300,000 (Education) +$???,??? (Education) May ask for $300,000 or more additional funding +$??,??? (Town) +$??,??? (Town) Cuts to $300,000 could involve cuts to programs +$359,149 (CIP) +$375,000 (New BOE CIP request) “Contractual” increases? Insurance and Benefit increases? Right Fund CIP(Goal) $359,149

$1,444,985 (1 Mill = $359,149 FY17-18) Would require a 4.02 Mill Estimated Expenses Increase of (adds $0 for restoring program cuts, $10,000 each for Contractual, Insurance, Benefit Increases in Town Budget): $1,444,985 (1 Mill = $359,149 FY17-18) Would require a 4.02 Mill Increase to Fund

Potential Changes to Revenue for FY18-19

Potential Changes to Revenue for FY18-19 Expect full $624,489 to be expended: - $624,489 Net Potential Change: - $624,489 + $207,926 - $416,563 Fund Balance remaining if all assigned for FY17-18 budget is expended: + $207,926

FY 19 Governor's Adjustments FY 19 Adopted: Amount under the adopted biennial budget (adopted October 2017) FY 19 Governor's Adjustments: Amount under the Governor's proposed adjustments (proposed February 2018) Grant FY 18 Post Holdback FY 19 Adopted FY 19 Governor's Adjustments Adult Education 12,346 12,664 12,408 + 62.00 ECS Grant 4,051,654 4,278,637 3,818,171 -233,483.00 LoCIP 99,321 64,318 63,204 - 36,117.00 Pequot-Mohegan Grant 28,601 15,208 - 13,393.00 PILOT: Colleges & Hospitals PILOT: State-Owned Property 299 5,357 Town Aid Road 224,582 224,884 + 302.00 Grants for Municipal Projects 2,022 Municipal Transition Grant (Car Tax) Municipal Revenue Sharing MRSF: Supplemental PILOT Municipal Stabilization Grant 36,823 94,624 Total 4,455,648 4,697,412 4,173,019 - 282,629.00 Revenue Deficit From Previous Slide: - $416,563 Grant Deficit: - $282,629 Total Revenue - $699,192 Deficit:

$699,142 (1 Mill = $359,149 FY17-18) Would require a 1.95 Mill Estimated Revenue Deficit: $699,142 (1 Mill = $359,149 FY17-18) Would require a 1.95 Mill Increase to Fund

$1,444,985 Expenditures $ 699,142 Revenue $2,114,127 Total Deficit (1 Mill = $359,149 FY17-18) Would require a 5.97 Mill Increase to Fund as is