Town of Broadway Fiscal Year 2016 Budget May 19, 2015

Revenues Overview % Change from Previous Year General Fund$1,750, % Water Fund$557, % Sewer Fund$2,971, %

General Fund Highlights Revenue Real estate rate remains unchanged at $.07 Sales tax continues to rise moderately for the fourth straight year. Personal Property revenue remain steady. Trash fees increasing $1.00 per month. Cigarette tax increase of $.10, estimated to generate $78,000.

General Fund Revenues

General Fund Highlights Expenditures Street Maintenance continues to account for a significant portion of fund. Minor street improvements to include paving and patching, sidewalk improvements, as well as equipment purchases. Adding 5 th police office January 1, Increase in cigarette tax rate, and $1.00 per month increase in trash fees.

General Fund Expenditures

Water Fund Revenue Proposed 6.5% increase – equates to $2.91 per billing cycle for average user User fees will help with the planned upgrade to the water treatment plant. Overall revenue projected to increase by 3.53%

Water Fund Revenues

Water Fund Expenditures Overall expenses decreasing 8.12% due to no new large capital projects. Continue purchasing average 50k gallons per day of water from Co-op Continue implementation of new touch read water meters. Minor capital improvements at water plant. No debt

Sewer Fund Revenues User rates (Broadway) increasing 5%, anticipating upgrade to the WWTF Contracted rates with Pilgrim’s Pride, Cargill, Timberville and New Market, with built in escalators. Total revenue increasing 12.56% due to engineering fees associated with the proposed upgrade.

Sewer Fund Revenues

Sewer Fund Expenditures Fairly consistent with current year from an operating standpoint. Minor capital improvements and contingency built in. Significant on-going expenses include: utilities, sludge removal, chemicals and debt service. Engineering fees are the primary difference.

Summary FISCAL YEAR 2016 BUDGET FY 2016 Revenue:Proposed General Fund $ 1,750,800 Water Fund $ 557,500 Sewer Fund $ 2,971,700 Total Revenue$5,280,000 Expenditures: General Fund: General/Administrative $ 534,400 Public Safety $ 387,500 Highways & Streets $ 466,600 Parks & Recreation $ 131,600 Sanitatio n $ 188,500 Debt Service $ 42,200 Enterprise Funds: Water Fund $ 557,500 Sewer Fund $ 2,971,700 Total Expenditures$5,280,000