1. Lincoln Finance Committee
Fiscal Year 2014 Budget
Town Meeting
March 23, 2013

2. FY 2014 Budget Overview No operating override – for 6th year in a row
Modest budget guideline of +2.5%
Emergency Reserves maintained at 3% of budget
Debt service as a % of operating expenditures would be 5.3%
(rating agency guideline is 5% to 14%)

3. New Annual Town Reports Initiated
Finance Committee Report includes 1st Annual Town Reports:
Police Department
Lincoln Public Schools
Lincoln-Sudbury Regional High School
Library
Provide greater context to the budget
What is working? What could be changed?
Challenges and opportunities
Benchmarking against peers
Executive Summary in Finance Committee Report
Full report on Finance Committee page of the Town website (

4. Revenues by Category: FY 2014

5. Revenue Highlights and Assumptions
State aid assumed to remain flat from FY 2013
$1.5 million (5.0% of revenues)
Governor’s budget proposal would increase
Other available funds grow
One-time use of funds freed up from Health Insurance Trust Fund provides $311,000
Free cash remaining funds the Emergency Reserves

6. Expenditures by Category: FY 2014

7. Expenditure Highlights and Assumptions
Targeted increases above 2.5% guideline
General Government
Lincoln Public Schools
Public Works and Facilities
Lincoln-Sudbury Regional High School
3 budget levels proposed
Lincoln’s budget guideline supports highest level (Partial Restore)
Sudbury’s Finance Committee supports the middle level (Level Service)
As in past, transfer excess to Debt Stabilization Fund (Article 16)
Pensions and Insurance
Health insurance increase budgeted at 8.0%

9. Components of the FY 2014 Median Tax Bill Median House Value: $796,900 (FY 2013)
$11,340
Increase
Operating Increase $
2.4%
New Growth 46
0.4%
Existing Debt Exclusions
225
2.0%
FY 2014 Est. Median Tax Bill
$11,882
4.8%
CPC Funds Applied to Debt (Article 15)
(151)
-1.3%
Library Fire Suppression
(Article 11) 5
0.04%
FY 2014 Net Median Tax Bill
$ 11,736
3.5%

10. Growth in Average Tax Bill, 2000-2013 Comparison to Neighboring Towns