BUDGET PRESENTATION 5/22/19 COVENTRY FY20 BUDGET PRESENTATION 5/22/19

COVENTRY 2019-2020 BUDGET BUDGET INCREASES AND ADDITIONAL INFORMATION PROPOSED INCREASE IN MUNICIPAL BUDGET: $1,315,859 Increase on Police Pension ARC/ADC: $206,000 Increase in Municipal Pension ARC/ADC: $51,000 Increase in the School SRP Pension ARC/ADC: $172,000 (town paid) Increase to Debt Services Town (DHS/PD bond): $261,000 Increase in Medical & Dental Rates: $70,000 Refuse disposal increase:$53,000 Contract services (for DPW) increase:$60,000 Police Salary increase: $134,000 Tax Assessor Statistical Revaluation: $228,000 Total mandated budget increases: $1,235,000 Move partial Cov/WW IMA cost to Operating Budget: $200,000 REQUIRED TAX LEVY INCREASE FOR MUNICIPAL BUDGET: $1,247,818 NO CAPITAL IMPROVEMENT FUNDS ALLOCATED AT THIS TIME

COVENTRY 2019-2020 BUDGET SCHOOL FUNDING PROJECTED STATE AID INCREASE: $1,684,660 TC PROPOSED TOWN FUNDING INCREASE: $1,468,474 REQUIRED TAX LEVY INCREASE FOR SCHOOL BUDGET: $1,468,474 NO CAPITAL IMPROVEMENT FUNDS ALLOCATED AT THIS TIME

COVENTRY 2019-2020 BUDGET POSSIBLE REDUCTION OPTIONS BY LEVY PERCENTAGE 2.54% 1.96% 0% TOWN $350,000 $350,000 $1,247,818 SCHOOL $600,000 $1,000,000 $1,468,474 TAX RATE RESIDENTIAL $22.00 $21.84 $21.37 COMMERCIAL $26.62 $26.33 $25.76 CURRENT TAX RATE RESIDENTIAL $21.61 COMMERCIAL $26.05

BUDGET CUT DESCRIPTION COVENTRY 2019-2020 BUDGET DEPARTMENT BUDGET CUT DESCRIPTION # Employees $0 1.96 or 2.54 DPW Eliminate Curb Side Yard Waste Pick UP 2 $123,887 Eliminate Curb Site Bulk Pickup $122,465 Eliminate Building & Grounds Employee 1 $73,718 Eliminate building Custodian $59,514 Close Transfer Station $153,581 Police Eliminate 1/2 time dispatcher 0.5 $31,935 Eliminate 1 unfilled PO opening $76,533 Lay off two(2) probationary officers $157,852 DHS Receptionist to part time $15,147 Eliminate Program Assistant $25,341 Eliminate Custodian Assistant $7,053 Parks and Rec Eliminate Recreation department 3 $573,000 Human Resources Temp Employee $3,000 Town Manager Travel Expense Various Departments Overtime $35,000 Totals 14.5 $1,461,026 $394,614 5 Amount needed to cut on the Municipal Side $1,247,818 $350,000 Additional Unemployment cost $213,005 $44,070 Average Cost Per Employee per week $565.00 -$203 -$544

FTM BUDGET PRESENTATION COVENTRY FY20 FTM BUDGET PRESENTATION

TOWN OF COVENTRY CIP REQUEST SUMMARY FY2020-2024 DEPARTMENT   2019-2020 2020-2021 2021-2022 2022-2023 2023-2024 Total DPW Capital Request $2,056,485 $2.179.665 $2,553,410 $1,586,605 $1,413,735 Total Police Capital Request $350,000 $60,000 $35,000 Total Parks & Rec. Capital Request $260,000 $25,000 $15,000 $100,000 Total Planning Capital Request Total Municipal CIP Request $2,681,485 $2,264,655 $2,603,410 $1,721,605 $1,448,735 Total School Department Capital Request $718,317 $700,258 $660,770 $982,300 $1,053,250 Total Municipal and School CIP Request $3,399,802 $2,964,913 $3,264,180 $2,703,905 $2,501,985

COVENTRY 2019-2020 BUDGET 2019 Proposed Tax Rate Increase Effect on Median Single Family and Condo Properties Median Condo Assessment: $ 207,800 2018 tax rate $ 21.61 $ 4,490.35 2019 tax rate $ 22.34 $ 4,642.25 Y/Y change $ 151.90 Median Single Family Assessment: $ 215,400 $ 4,654.58 $ 4,812.04 $ 157.46

COVENTRY 2019-2020 BUDGET THE TOWN COUNCIL’S RECOMMENDED BUDGET Maximum Tax Levy increase: 4% $2,785,022 Requested Tax Levy Increase: 3.9% $2,716,292 Current Tax Rates: Rate with 3.9% Levy Increase: Increase: Residential: $21.609 $22.34 $0.73/$1,000 Commercial: $26.047 $26.93 $0.88/$1,000 MV $18.75 No Change Tangible $21.609 $22.34 $0.73/$1,000 The 3.9% Levy increase causes an approximate Tax Increase of 3.38%