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

2. FY Approved Budget

3. 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

4. +$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

5. $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

6. Potential Changes to Revenue for FY18-19

7. 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

8. 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
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
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:

9. $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

10. $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