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

2. 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

3. 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

4. COVENTRY 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

5. BUDGET CUT DESCRIPTION
COVENTRY 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

6. FTM BUDGET PRESENTATION
COVENTRY FY20
FTM BUDGET PRESENTATION

7. TOWN OF COVENTRY
CIP REQUEST SUMMARY FY
DEPARTMENT
Total DPW Capital Request
$2,056,485 $
$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

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

9. COVENTRY 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: $ $22.34 $0.73/$1,000 Commercial: $ $26.93 $0.88/$1,000 MV $18.75 No Change Tangible $ $22.34 $0.73/$1,000 The 3.9% Levy increase causes an approximate Tax Increase of 3.38%