Finance Committee Meeting Minutes 2/17/21
Finance Committee Meeting Minutes = 2/17/21 –
Agenda
Agenda items to be discussed:
Agenda -
2021-2022 Budget discussion
special articles
budget levy increases
suggested budget cuts
salary increases
other budget items
This meeting was held prior to the joint select board meeting.
Jon went over – tax levy’s
Jon went through the cherry sheet and our tax levy
See next page for cherry sheet and a pdf of the budget tax levy.
Jon mad a motion that we should have a 3/5% increase to the tax levy – which would result in approximately $100 increase in property tax.
MASSACHUSETTS DEPARTMENT OF REVENUE Monterey DIVISION OF LOCAL SERVICES TOWN BUREAU OF ACCOUNTS
TAX RATE RECAPITULATION
Fiscal Year 2021
I. | TAX RATE SUMMARY | |
Ia. | Total amount to be raised (from page 2, IIe) | $ 5,524,162.45 |
Ib. | Total estimated receipts and other revenue sources (from page 2, IIIe) | 1,627,958.00 |
Ic. | Tax Levy (Ia minus Ib) | $ 3,896,204.45 |
Id. | Distribution of Tax Rates and levies | |
CLASS | (b) Levy percentage (from LA5) | (c) Ic above times each percent in col (b) | (d) Valuation by class (from LA-5) | (e) Tax Rates (c) / (d) x 1000 | (f) Levy by class (d) x (e) / 1000 |
Residential | 96.2247 | 3,749,111.04 | 515,696,184.00 | 7.27 | 3,749,111.26 |
Net of Exempt | |||||
Open Space | 0.0000 | 0.00 | 0.00 | 0.00 | 0.00 |
Commercial | 1.7705 | 68,982.30 | 9,488,515.00 | 7.27 | 68,981.50 |
Net of Exempt | |||||
Industrial | 0.1101 | 4,289.72 | 590,196.00 | 7.27 | 4,290.72 |
SUBTOTAL | 98.1053 | 525,774,895.00 | 3,822,383.48 | ||
Personal | 1.8947 | 73,821.39 | 10,154,191.00 | 7.27 | 73,820.97 |
TOTAL | 100.0000 | 535,929,086.00 | 3,896,204.45 |
MUST EQUAL 1C
Assessors
Gary Shaw, Assessor , Monterey , assessors@montereyma.gov 413-528-1443 | 11/9/2020 9:57 AM
Comment:
Scott Steibel, Assessor , Monterey , assessors@montereyma.gov 413-528-1443 | 11/6/2020 1:12 PM
Comment:
Donald Hopkins, Assessor , Monterey , assessors@montereyma.gov 413-528-1443 | 11/9/2020 9:39 AM
Comment:
Do Not Write Below This Line --- For Department of Revenue Use Only
Reviewed By: | David Guzman | |
Date: | 11/10/2020 | |
Approved: | Deborah Wagner | |
Director of Accounts: | Mary Jane Handy |
NOTE : The information was Approved on 11/10/2020
printed on 11/10/2020 5:35:10 PM
page 1 of 5
MASSACHUSETTS DEPARTMENT OF REVENUE Monterey DIVISION OF LOCAL SERVICES TOWN BUREAU OF ACCOUNTS
TAX RATE RECAPITULATION
Fiscal Year 2021
|
NOTE : The information was Approved on 11/10/2020
printed on 11/10/2020 5:35:10 PM
page 2 of 5
MASSACHUSETTS DEPARTMENT OF REVENUE Monterey DIVISION OF LOCAL SERVICES TOWN BUREAU OF ACCOUNTS
TAX RATE RECAPITULATION
Fiscal Year 2021
II. | Amounts to be raised | ||||
IIa. | Appropriations (col.(b) through col.(g) from page 4) | 5,496,419.00 | |||
IIb. | Other amounts to be raised | ||||
1. | Amounts certified for tax title purposes | 0.00 | |||
2. | Debt and interest charges not included on page 4 | 0.00 | |||
3. | Final Awards | 0.00 | |||
4. | Total overlay deficit | 0.00 | |||
5. | Total cherry sheet offsets (see cherry sheet 1-ER) | 2,176.00 | |||
6. | Revenue deficits | 0.00 | |||
7. | Offset receipts deficits Ch. 44, Sec. 53E | 0.00 | |||
8. | CPA other unappropriated/unreserved | 0.00 | |||
9. | Snow and ice deficit Ch. 44, Sec. 31D | 0.00 | |||
10. | Other : FY 2021 BRPC & DDVS assessments | 5,500.30 | |||
TOTAL IIb (Total lines 1 through 10) | 7,676.30 | ||||
IIc. | State and county cherry sheet charges (C.S. 1-EC) | 1,769.00 | |||
IId. | Allowance for abatements and exemptions (overlay) | 18,298.15 | |||
IIe. | Total amount to be raised (Total IIa through IId) | 5,524,162.45 | |||
III. | Estimated receipts and other revenue sources | ||||
IIIa. | Estimated receipts - State | ||||
1. | Cherry sheet estimated receipts (C.S. 1-ER Total) | 300,138.00 | |||
2. | Massachusetts school building authority payments | 0.00 | |||
TOTAL IIIa | 300,138.00 | ||||
IIIb. | Estimated receipts - Local | ||||
1. | Local receipts not allocated (page 3, col (b) Line 24) | 313,000.00 | |||
2. | Offset Receipts (Schedule A-1) | 0.00 | |||
3. | Enterprise Funds (Schedule A-2) | 0.00 | |||
4. | Community Preservation Funds (See Schedule A-4) | 0.00 | |||
TOTAL IIIb | 313,000.00 | ||||
IIIc. | Revenue sources appropriated for particular purposes | ||||
1. | Free cash (page 4, col (c)) | 728,422.00 | |||
2. | Other available funds (page 4, col (d)) | 286,398.00 | |||
TOTAL IIIc | 1,014,820.00 | ||||
IIId. | Other revenue sources appropriated specifically to reduce the tax rate | ||||
1a. | Free cash..appropriated on or before June 30, 2020 | 0.00 | |||
1b. | Free cash..appropriated on or after July 1, 2020 | 0.00 | |||
2. | Municipal light surplus | 0.00 | |||
3. | Other source : | 0.00 | |||
TOTAL IIId | 0.00 | ||||
IIIe. | Total estimated receipts and other revenue sources | 1,627,958.00 | |||
(Total IIIa through IIId) | |||||
IV. | Summary of total amount to be raised and total receipts from all sources | ||||
a. | Total amount to be raised (from IIe) | 5,524,162.45 | |||
b. | Total estimated receipts and other revenue sources (from IIIe) | 1,627,958.00 | |||
c. | Total real and personal property tax levy (from Ic) | 3,896,204.45 | |||
d. | Total receipts from all sources (total IVb plus IVc) | 5,524,162.45 | |||