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Debt service feb 12

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New Fire Station Debt service feb 12

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Debt service feb 12

  1. 1. Fire Station Debt Service February 27, 2012 1
  2. 2. FY13 Excluded Debt• Sewer Project: $4,004,128• School Building Project: $1,333,015• DPW Building: $383,524 Total: $5,720,667 2
  3. 3. Change in Excluded Debt• FY12: $6,286,521• FY13: $5,720,667Change ($565,854) 3
  4. 4. Excluded Debt Schedule Amount Change• FY12: $6,286,521• FY13: $5,720,667 ($565,854)• FY14: $5,631,707 ($88,960)• FY15: $5,148,169 ($483,538)• FY16: $4,780,671 ($367,498)• FY17: $4,697,859 ($82,812)• FY18: $4,619,559 ($78,300)• FY19: $4,560,148 ($59,411)• FY20: $4,474,715 ($85,433)• FY21: $3,890,704 ($584,011)• FY22: $3,459,984 ($430,720) 4
  5. 5. FY13 Non-Excluded Debt Project Amount Final Payment• Adams Library: $220,844 FY18• Center School: $562,146 FY18• Police Station: $547,174 FY22• CHS Windows: $84,385 FY31• Byam School Roof: $23,440 FY31• Capital Plans: $2,901,841 Total Existing: $4,339,830• FY13 Capital Plan: $80,977• Fire Station $637,500 FY32• Issuance Costs: $165,000 Total Proposed $5,223,307 5
  6. 6. Projected Non-Excluded Debt Schedule Amount Change• FY12: $4,315,133• FY13: $5,223,307 $908,175• FY14: $5,249,619 $26,311• FY15: $5,302,639 $53,020• FY16: $5,271,295 ($31,344)• FY17: $5,370,168 $98,873• FY18: $5,240,398 ($129,770)• FY19: $4,616,779 ($623,619)• FY20: $4,693,794 $77,015• FY21: $4,557,201 ($136,594)• FY22: $4,374,386 ($182,814) 6
  7. 7. Combined Excluded Debt & Non-Excluded Debt Schedule* Amount Change• FY12: $10,601,654• FY13: $10,943,974 $342,320• FY14: $10,881,326 ($62,648)• FY15: $10,450,808 ($430,518)• FY16: $10,051,967 ($398,841)• FY17: $10,068,027 $16,060• FY18: $9,859,957 ($208,070)• FY19: $9,176,928 ($683,029)• FY20: $9,168,509 ($8,419)• FY21: $8,447,904 ($720,605)• FY22: $7,834,370 ($613,534)• Does not include Community Preservation Fund Debt Service, Sewer Betterment-Funded Debt Service, or Sewer Enterprise Debt Service as these types of debt service have dedicated-funding sources. 7
  8. 8. Conclusions• For FY13, the allowed 2 ½% increase in the existing $72.7M base property tax levy amounts to $1,817,123.• The Town’s $6.3M in the existing excluded debt property tax levy will be reduced by $565,854.• Therefore, the net increase in the existing property tax valuation would be $1,251,269. This amounts to a 1.72% increase in the property tax, rather than a 2.50% increase.• The total excluded and non-excluded debt service will increase by $342,320. However, this increase will be funded within the property tax levy limit. 8

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