The Town sets aside money in a variety of funds, to help manage cash flow and have funds available for large, infrequent expenses (like rebuilding the police station), or emergencies.
CERTIFIED FREE CASH (MA Municipal Databank)
Percent Growth
Cash Flow to Support Operations as of 6/31/2021
Cash liquidity is excellent, per the following metrics:
Amount of cash on deposit, 06/31/2021: $54,921,340
- 56% of fiscal year 2021 operating budget
- 4% of fiscal year 2021 operating budget
Stabilization Funds, All: $7,373,129
- 7% of fiscal year 2021 operating budget
- Click here for June 30th 2021 Quarterly Deposit & Investment Report for the Town.
- Click here March 31st 2021 Quarterly Deposit & Investment Report for the Town.
General Fund collections are timely and effective, per the following metrics:
Last full year property tax billings, 2021: $[TBD]
- Number/amount of property tax > 90 days overdue: [TBD], $[TBD], [TBD]% of last full fiscal year billings
- Number/amount of property tax > 1 year overdue: [TBD], $[TBD], [TBD]% of last full fiscal year billings
Last full year motor vehicle excise tax billings; 2021: $[TBD]
- Number/amount of excise tax > 90 days overdue: $[TBD], [TBD]% of last full fiscal year billings
- Number/amount of excise tax > 1 year overdue: $[TBD], [TBD]% of last full fiscal year billings
The Water Enterprise Fund
The Water Enterprise Fund is stable, with timely and effective collections, per the following metrics:
-Retained Earnings Balance, 06/30/2020: $991,343, 31% of the fiscal year 2021 enterprise budget ($3,164,164)
-Water Enterprise Expense Budget for fiscal year 2022: $2,584,320
-Last full year Water Enterprise user fee billings; 2020: $[TBD]
- 03/31/2021 amount of Water user fee billings > 90 days overdue: $[TBD], [TBD]% of last full fiscal year billings
- 03/31/2021 amount of Water user fee billings > 1 year overdue: $[TBD], [TBD]% of last full fiscal year billings
The latest (2020) water quality report can be found here.
User fee rate projections are uncertain at this time. The Water Enterprise faces a decision about whether to continue producing and treating water for user consumption from local wells, whether to switch to the purchase of water from regional partners, or some combination of the two options. Each path involves substantial and highly variable capital cost estimates in the five to ten year timeframe; therefore, the decision about sourcing water supply will have a major impact on required water user fee rate adjustments.
To see Commonwealth of Massachusetts guidance on administration of Enterprise Funds, including the Water Enterprise Fund, click here.
The Sewer Enterprise Fund
The Sewer Enterprise Fund is stable, with timely and effective collections, per the following metrics:
-Retained Earnings Balance, 06/30/2020: $673,831, 25% of the fiscal year 2021 enterprise budget ($2,746,890)
-Sewer Enterprise Expense Budget for fiscal year 2022: $2,409,133
-Last full year Sewer Enterprise user fee billings; 2020: $[TBD]
- 03/31/2021 amount of Sewer user fee billings > 90 days overdue: $[TBD], [TBD]% of last full fiscal year billings
- 03/31/2021 amount of Water user fee billings > 1 year overdue: $[TBD], [TBD]% of last full fiscal year billings
User fee rate increases are projected to be in the 2-3% range for the foreseeable future, covering status quo operations with increases expected for inflation in staff costs, utilities, supplies and other market expenses.
To see Commonwealth of Massachusetts guidance on administration of Enterprise Funds, including the Sewer Enterprise Fund, click here.