1. Finance Committee Budget Overview April 26, 2010

2. 2 Financial Highlights FY 2010  Year to Date Budgets  Capital Projects  Bond Sales  State Aid  Flooding Emergency Costs

3. 3 Income Source Changes Since 2008 the contribution to the budget from State Aid and non-tax revenue has declined from 15.1% to 11.8% (FY11 est.).

4. 4 Finance Committee Overview Total FY11 Proposed Budget Plan: $76,568,448 + 1.4%  Maintain core Town and School services  Assumes 10% state aid cuts  Other projected revenue approximately flat.  Proposed total budget can be funded under the Levy Limit

5. 5 Finance Committee FY 2011 Planning Expenses Summary- Key changes: Operating Budgets Total: +$563,285 +1.0% Joint Accounts: +$597,400 +5.6% Excluded Debt: - $ 65,410 - 1.4%  Gross $ 935,000 higher than FY 2010  Offset by $ 1,000,000 from Stabilization Fund

6. 6 Finance Committee FY 2011 Planning Budget Summary FY11 Budget Plan: $76,568,448 + 1.4% Town Operations + 0% Concord Schools + 0% Concord-Carlisle HS + 4.2% Concord operating assessment Other Accounts + 2.8%

7. FY11 Estimated property tax impact Current median single family assessed value = $656,700 FY10 FY11 change Tax at median $8,596 $8,748 + $152 Tax per $100,000 $1,309 $1,332 + $ 23 Percent change + 3.3% + 1.8%

8. 8 Finance Committee Conclusion Continued Risks  State Aid, Local Revenues, Slow Growth Dependence on Property Tax Prudent, Consistent Policy-Based Management and Governance