04/17/2014

Public hearing on $34.2 million combined 2015 municipal budget set for May 12

The Town Council will hold a public hearing May 12, 2104 on a $34.2 million combined municipal budget for 2014-15.

The budget includes spending for town, school, county and Community Services and poses a 3.2 percent hike in taxes, an increase of 52 cents per $1,000 of assessed valuation, up from $16.28 in 2013-14.

Also up for hearing will be proposed budgets for nine special funds: Rescue, Sewer, Spurwink Church, Riverside Cemetery, Fort Williams Park Capital Fund, Portland Head Light Fund, Thomas Jordan Fund, Infrastructure Improvement and Land Acquisition. [download special funds summary]

Budget summaries

The school budget, $23,240,174 compared to $22,528,078 for this year, is up 3.2 percent and accounts for 49 cents of the proposed 52-cent increase in the tax rate.

A school-budget validation vote is scheduled for Tuesday, June 10, coinciding with statewide primaries.

The Community Services budget, $465,000 compared to $447,000 this year, is up 4 percent and will account for 1 cent of the tax-rate hike.

The Cumberland County assessment, $1,108,992 compared to $1,061,728 for this year, is up 4.5 percent and accounts for 2 cents of the 52-cent proposed tax-rate increase.

The town budget, $9,226,784 compared to $9,032,363 this year, is up 2.2 percent but will add no increase to the tax rate.

Town budget changes

The Town budget increase is less than the 2.7 percent originally put forward by McGovern. A reduction in health-insurance costs ($38,300); retirement costs ($15,930); and contribution to the Greater Portland Economic Development Commission ($5,000) are reducing the budget proposal by $59,220. The reductions eliminate a tax increase for town services.

Budget summary and tax impact: [download]

	FY 2014	FY 2015	$ Change	% Change
	Adopted	Proposed	FY 15  to FY 15	FY 14  to FY 15
EXPENDITURES
TOWN SERVICES	$       9,032,363	$       9,226,784	$             194,421	2.2%
COUNTY ASSESSMENT	$       1,061,728	$       1,108,992	$                47,264	4.5%
SCHOOL DEPARTMENT	$    22,528,078	$    23,240,174	$             712,096	3.2%
COMMUNITY SERVICES	$          447,000	$          465,000	$                18,000	4.0%
Local Homestead Exemption	$          195,242	$          199,200	$                  3,958	2.0%
	$    33,264,411	$    34,240,150	$             975,739	2.9%
REVENUE
TOWN SERVICES	$       3,210,264	$       3,348,264	$             138,000	4.3%
SCHOOL DEPARTMENT	$       3,248,194	$       3,005,579	$            (242,615)	-7.5%
TOTAL	$       6,458,458	$       6,353,843	$            (104,615)	-1.6%
NET TO TAXES
TOWN  SERVICES	$       5,822,099	$       5,878,520	$                56,421	1.0%
COUNTY ASSESSMENT	$       1,061,728	$       1,108,992	$                47,264	4.5%
SCHOOL DEPARTMENT	$    19,279,884	$    20,234,595	$             954,711	5.0%
COMMUNITY SERVICES	$          447,000	$          465,000	$                18,000	4.0%
Local Homestead Exemption	$          195,242	$          199,200	$                  3,958	2.0%
TOTAL	$    26,805,953	$    27,886,307	$          1,080,354	4.0%
TAX RATES (Rounded to nearest ¢)
TOWN SERVICES	$                 3.54	$                 3.54	$                    0.00	0.0%
COUNTY ASSESSMENT	$                 0.65	$                 0.67	$                    0.02	2.8%
SCHOOL DEPARTMENT	$              11.70	$              12.19	$                    0.49	4.2%
COMMUNITY SERVICES	$                 0.27	$                 0.28	$                    0.01	3.7%
SUBTOTAL		$              16.68
Local Homestead Exemption	$                 0.12	$                 0.12	$                         -	0.0%
TOTAL	$              16.28	$              16.80	$                    0.52	3.2%
TAX RATE VALUATION BASIS	1,648,500,000	1,660,000,000	$        11,500,000	0.7%