Town of MedwayState of the Town

Fall Town MeetingNovember 14, 2011

Board of Selectmen:John Foresto, ChairmanGlenn Trindade, Vice-ChairmanDennis Crowley, ClerkRichard Dunne, MemberAndrew Espinosa, Member

The State of the TownIndependent auditor’s report:Melanson, Heath & Company

“With regard to regular stabilization and fiscal stability, Medway is in the top 10% of comparable communities.”

Free Cash & Stabilization Fund HistoryYear Stabilization

Fund % of Budget Free Cash % of Budget

2002-2003 689,533 2.15 1,111,626 3.46

2003-2004 760,894 2.13 201,529 0.56

2004-2005 583,361 1.54 (870,290) (2.30)

2005-2006 583,361 1.43 (867,855) (2.13)

2006-2007 399,617 0.96 (1,886,744) (4.52)

2007-2008 769,135 1.85 1,864,934 4.48

2008-2009 2,117,499 4.64 1,743,848 3.82

2009-2010 2,148,896 4.72 2,027,149 4.46

2010-2011 2,967,359 6.08 1,196,814 2.45

FY10 Free Cash Allocation as voted at 2011 ATM

Item Amount

Fund to Snow & Ice Deficit 329,000Road and Sidewalk Repairs 407,914Firearm Replacement 14,400Flashing for Memorial School 22,500Fiber Area Network 95,000Technology Equipment 45,000Police/Fire Communication Center Furniture 14,000Corridor Ceiling Replacement–Burke School 25,00018 Passenger Bus for COA 60,000Unexpended Free Cash Balance 200,000

$1,196,814

Funds and Reserve Balances as of June 30, 2011

Stabilization Funds $3,523,152

Fiscal Stability Account $ 682,627(Required by deficit financing legislation)

Grand Total Reserves $4,205,779

Current Debt Position – FY11

AA- Positive Bond Rating (S&P)

Total All Debt – $34,017,490 Enterprise Fund Debt – $7,015,650 FY12 General Fund Debt Service – $2,895,656 FY12 General Fund Debt Ratio – 7%

Deficit Financing Balance - $1,000,000

FY 2011 Accomplishments

CERTIFICATION AS A GREEN COMMUNITYThrough the collaborative efforts of town departments and the Energy Committee.

One of 74 communities in state to receive this designation.Eligible for energy efficiency and renewable energy

initiative grants through the State Dept. of Energy and Environmental Affairs, Green Communities Division.

Received grant award of $158,000 as a result of this designation.

FY2011 Accomplishments (continued)

Launched Medway GIS program.Completed recycling center improvements.Reached 25% design for Route 109 reconstruction.Restructured debt resulting in $800,000 savings.Renovated police and fire communications center.Received federal grant to acquire firefighting

simulation training trailer.

FY 2011 Accomplishments (continued)

School Department• Medway Public Schools named as one of the top 50 districts in state

by Boston Magazine .• Medway Middle School repair project approved and project has

begun.• Medway Middle School solar panel installation completed.• Medway Middle School named Commendation School for MCAS

Achievement 2011.• Completed technology upgrades. • Created new in-district special education programs.• Increased collaboration with other districts, including shared food

service director and ESL teacher.• Hired new principal and special education director.

FY11 Major Capital Improvement ProjectsCompleted Industrial Park Sewer Extension Project.Replaced Highland St water tank.Repaired/replaced Town Hall roof.Installed automated water

meter reading system.Continued roadway and

sidewalk improvements, including Milford, Pond, Shaw, West, and Mechanic Streets.

FY12 Major Capital Improvement ProjectsBegin work with FEMA to design Brentwood drainage

improvements.Continue design of Rt 109 reconstruction project.Perform stormwater system improvements as mandated

in MS4 permit.Continue Village Street drainage improvements.Continue Brundages Corner roadway/sidewalk/drainage

improvements.Improve Village and Lovering Street sidewalks.Replace West and Main Street water mains.Continue annual roadway improvement plan.

FY 2012 Goals and ChallengesPrepare FY2013 balanced budget.Continue capital investment in the Town’s

infrastructure.Charles River Pollution Control District Capital

Assessment.

FY 2012 & 2013 Projected RevenuesProjected Revenues Adopted FY 12 Projected FY 13

Property Tax $28,369,209 $28,938,009

State Aid $11,239,924 $11,242,130

Local Receipts $1,944,444 $1,944,444 Operational Stabilization Transfer $235,345

Total Revenues $41,787,922 $42,124,583

FY 2011 & 2012 Projected ExpendituresProjected Expenditures FY 12 FY 13

Education (includes Tri-County) $24,224,056 $24,827,883 General Government $2,075,066 $2,125,961 Town-Wide Government $9,677,327 $9,950,077 Public Services $1,510,556 $1,545,027 Public Safety $2,732,197 $2,755,305 Health & Human Services $289,713 $298,709 Culture & Recreation $367,954 $384,572 State Assessments/Monetary $911,053 $811,533 Total Expenditures $41,787,922 $42,699,067 Total Revenues (previous slide) $41,787,922 $42,124,583 Projected Budget Gap -$574,484

FY11 Town State and Federal Grants

Chapter 90 $318,237GATRA $77,765 Route 109 Design $300,000FEMA Assist Firefighters $168,435Brentwood Hazard Mitigation $510,539Others (10) $103,581

SubTOTAL $1,478,557School, State, and Federal (17) $2,676,209

TOTAL $4,154,766

Capital NeedsSummary

FY2013-2017

Department of Public Services $ 23,431,000*Public Safety $ 56,239Schools $ 2,780,251Library $ 220,000General Government $ 1,023,130

Total Projected 5-Year Capital Improvement Plan $27,510,620

*Road and sidewalk repair budget for the period - $3,750,000

Questions and Answers