1. TOWN OF WESTON BOARD OF SELECTMEN’S BUDGET Fiscal year 2016-17 February 10, 2015

2. TOWN OF WESTON Photo Courtesy Weston Forum

3. Budget Goals Property tax stability Maintain and improve necessary Town services and infrastructure Collaborate with the School District and neighboring communities to share costs Reflect our community values

4. CURRENT YEAR FORECAST

5. FY 2015-16 Budget Forecast

6. Fund Balance history

7. COMMUNITY AND STATE ECONOMIC INDICATORS AND REVENUE OUTLOOK

8. Social Services Statistics

9. Unemployment statistics

10. History of new construction Note: FY July to June

11. History of additions and remodeling FY July-June

12. Grand list growth

13. Concerns at the State Level 3 rd lowest GDP growth in country ahead of only Louisiana and Maine since 2010. One of only four states with a decline in population since 2012. Relocation of GE to Boston. Tax climate in Connecticut ranked 44 th in the country. Since 2008, corporate tax rate has risen from 7.5% to 9%, and top income tax rate rose from 5% to 6.99%.

14. REVENUE outlook summary State Aid- reflects reduction of $103k in ECS funding based on Governor’s mid-year reductions. 0.65% Grand List Growth Includes for the first time the Supplemental Automobile tax ($200,000). All other sources are generally flat

15. Revenue Breakdown (percent of budget)

16. TOWN OPERATING BUDGET

17. Town Services This budget provides the funding to run our government operations. Our role is to provide:  Public Safety (Police, Fire, DPW, Animal Control)  Services (Parks & Rec, Library, Senior Center, Human Services, Transfer Station)  Operations as per Town Charter and State Statute (Tax Collector, Tax Assessor, First Selectman’s Office, Town Clerk, Registrars)  Necessary back office functions (Town Administrator, Finance Department, IT, Land Use,)

18. TOWN OPERATING BUDGET SUMMARY Fiscal year 2016-17 Request: $12,628,839 increase of $220,087 (1.77%) Budget Drivers Health insurance - $100,400 (45.6%) Salary reserve - $ 100,000 (45.4%) New Police SRO (net of proposed BOE share)- $38,618 (17.5%)  These 3 items equal 108.6 %of the total operating budget increase s

19. Change in FTE Positions

20. History of Town operating budget (percent change) 1 st Selectman

21. Breakdown of Expenditures (amount in ‘000 and percent of budget)

22. CAPITAL BUDGET

23. Total Capital Budget summary Fiscal year 2016-17 Request- $1,266,689 Overall Capital budget decrease - $37,869 (-2.9%) Town budget decrease – $(78,400) BOE budget decrease - $(9,469) Board of Selectmen proposed reduction of $95k not reflected. (Note that a $50k offset from capital reserve was part of the overall capital budget for 2015-16). Primary budget drivers  Town Vehicle Sinking Fund – increased by $125,000 (new items – Senior Van, Animal Control Van, Fire Truck contrib.)  BOE Air Conditioning projects - $275,889

24. Capital budget items Total: 1,266,689 Item Amount Town Vehicle Sinking fund 375,000 Town Bridge Repair 40,000 Town Building Repairs 50,000 Parks and Rec Bisceglie Infield 1 23,000 Parts and Rec Morehouse Fence/Rail 16,500 Fire Dept Base Radio System 135,000 Police Radio Repeater 27,600 BOE Oil Tank Replacement 65,000 * BOE Air Conditioning Systems 275,889 BOE Replace Flooring Hurlbutt Ramps 18,000 BOE Security Initiatives 35,700 BOE HS Remove Wall Chemistry Lab 25,000 BOE Library Learning Commons 80,000 BOE Move Copy Center to Hurlbutt 30,000 * BOE Refresh Master Plan of Facilities 50,000 Town/BOE Turf Replacement Fund 20,000 * Project was proposed by Board of Selectmen to not be funded.

25. Town and BoE Capital budget history Note: Town Capital includes 100% of turf replacement fund and water system sinking fund

26. TOTAL BUDGET (INCLUDING BOE)

27. Breakdown of total Town and BOE expenditures FY 2016-17 (in ‘000’s) Total Town = 20% Total BOE = 80%

29. Debt (Town and BOE) percent of total Gross budget Note: Weston debt per capita at $4,636 as of June 30, 2014 is 4 th highest in the state.

30. Mill Rate History ( percent increase)

31. Budget history FY 15FY 16 FY 17FY 16 to FY 17 (forecast) TOWN OPERATING BUDGET12,101,39312,408,75212,352,47012,628,839220,0871.77% TOWN CAPITAL BUDGET794,745765,500 687,100(78,400)-10.24% DEBT SERVICE - TOWN692,130682,174 764,12081,94612.01% TOTAL TOWN BUDGET13,588,26813,856,42613,800,14414,075,859223,6331.61% BOE OPERATING BUDGET47,364,85648,503,782 49,317,488813,7061.68% BOE CAPITAL BUDGET477,000589,058 579,589(9,469)-1.61% DEBT SERVICE – BOE5,795,7395,708,789 5,544,718(164,071)-2.87% TOTAL BOE BUDGET53,637,59554,801,629 55,441,795640,1661.17% Less: Capital Reserve Offset(10,000)(50,000) 050,000N/A TOTAL GROSS BUDGET67,215,86368,608,05568,551,77369,521,854913,7991.33% LESS: REVENUES2,928,1122,948,1123,016,8623,044,07695,9643.26% TOTAL NET BUDGET64,287,75166,659,94365,534,91166,477,778817,8351.25% GRAND LIST2,328,055,0522,341,794,069 2,357,015,73015,221,6610.65% BUDGETED MILL RATE28.2428.67n/a28.840.170.59% Mill rate collection budgeted at 97.8%. Note: Town capital budget includes all joint Town/BOE items

32. Town budget summary FY 2016-17 (excluding BoE) Town Operating Budget increase $ 220,087 Town Capital budget decrease $ (78,400) Total town budget increase $ 141,687 Town debt service increase $ 81,946 Town gross budget $223,633 20% of total revenue increase $ 19,193 Town Net Budget $ 204,440 20% of grand list growth $ 87,281 Mill Rate Impact $ 117,159 Equals approximately a 5 cent or 0.17% increase on mill rate. This translates to $30 on the average Weston residential tax bill.

33. QUESTIONS ?