Ashby, Report of the Finance Committee

back to table of contents Report of the Finance Committee Fiscal Year 1999 July 1, 1998 to June 30, 1999

Responsibilities

Preparation of the annual budget for the Town of Ashby
Act as an advisory board to the residents of Ashby on financial matters
Prepare an annual report
Administer the Reserve fund

Meeting Schedule and Agenda

The finance committee met weekly through the months of January, February and March. These meetings consisted of discussions with department heads regarding budget requests, warrant articles, and the state of their respective departments. Meetings were also scheduled with the Board of Selectman to advise on prioritizing budget increases and warrant articles. Residents wishing to have an item added to a meeting agenda should contact the Finance Committee chair, or Town Administrator.
For the remainder of the year, meetings are focused on Reserve Fund transfers and other Town financial matters. Check the Town hall Bulletin Board for the meeting schedule.

Items of General Interest

Through the efforts of the Town Department Heads and Board of Selectman the Finance Committee was able to present a balanced budget without overrides or exclusions. The vote of the Town at the Annual Meeting supports the Finance Committee recommendations.
Budget requests continue to exceed the proposition 2½ cap. In response to this problem a capital and staffing plan initiative has begun. It is intended that these documents be in place to help with the prioritizing of repair and replacement schedules for Town holdings, and to maintain adequate staffing needs for town government and operations for FY2000.
The Budget fiscal change for 98 vs. 99 was a positive 7.62% ($254,739), including a New Money increase of $54,688. From revenues the Town was able to increase wages and stipends, replace obsolete equipment, add personnel in the dispatchers and police department, make repairs to facilities, and upgrade software for various departments. $46,888.80 was also added to the Stabilization Fund.

The Budget Comparison graph shows the budget by the various divisions of the Ashby Town Government from the Fiscal Years of 1995 through 1999 inclusive. The 1995, 96, and 97 data is taken from the Original Budget lines in the Annual Town Reports, while the 1998 and 1999 numbers are from the FY98 Appropriated, and FY99 Finance Committee Recommendations shown in the Annual Town Meeting (ATM) Announcement. The Education category has been intentionally excluded, as those spending levels result from the North Middlesex Regional School District (NMRSD) assessments and debt service, as well as the Montachusett Regional Vocational Technical High School assessment. Also not considered in the totals are the warrant articles that were accepted in addition to the budget.

The Finance Committee budget recommendation for FY99 was $3,048,944. From this total, $1,828,596 was for education. Spending percentages for the remaining $1,220,348 by each department is shown in the FY99 Budget Percentages graph to indicate the relative allocations of budget. The Budget Summary section of the 1998 ATM publication can be used to see the various line items within each category.

The Educational budget remains by far the greatest expenditure for the town. The total assessments for the Montachusett Regional Vocational Technical High School, and the NMRSD Assessment and debt service from years 1995 to 1999 is shown here. For FY99 Ashby had a 3.4% increase in the NMRSD assessment. The increase includes repairs to the underground oil tank at Hawthorne Brook, and the new gym floor at Ashby Elementary School.

Town Revenues have been increasing on the average of approximately 6.3% per year for the past five years. Data here was taken from the Total Revenues Received columns of the Annual reports for 1995 through 1997, and the Finance Committee Estimated for the years FY1998 and FY1999.

Respectfully Submitted,