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Town of Avon. Board of Finance Public Budget Hearing Proposed FY 11/12 Budget April 4, 2011. Requested Budgets. Board of Finance’s Role is to Balance:. and. Spending for Services. Taxes to Pay for Them. Questions that may be on your mind….

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Town of avon

Town of Avon

Board of Finance

Public Budget Hearing

Proposed FY 11/12 Budget

April 4, 2011

www.town.avon.ct.us


Requested budgets

Requested Budgets

www.town.avon.ct.us


Board of finance s role is to balance

Board of Finance’s Role is to Balance:

and

Spending for Services

Taxes to Pay for Them

www.town.avon.ct.us


Questions that may be on your mind

Questions that may be on your mind….

I.What is the role of the Board of Finance?

II. How do CT Towns raise revenue?

III.How will Avon raise the revenue to support the requested budgets?

www.town.avon.ct.us


Connecticut supreme court

Connecticut Supreme Court

“Boards of finance are charged

with the duty of providing the necessary funds and, at the same time, of seeing to it that expenditures for an education program

are kept within reasonable bounds in view of the overall financial resources of the town.”

Fowler vs. Enfield, 138 Conn. 521, 532 (1952)

www.town.avon.ct.us


Avon town charter

Avon Town Charter

Section 9.4.1 (b)

The Board “shall make those revisions in the budget as the Board of Finance deems desirable and shall recommend the budget so revised to the voters at the Referendum.”

www.town.avon.ct.us


How do ct towns raise revenue

How Do CT Towns Raise Revenue?

State law is very restrictive:

  • No Income Tax

  • No Sales Tax

  • No Taxes on Tobacco, Alcohol, Gasoline, or Hotel Rooms

    ...but…

www.town.avon.ct.us


The governor has proposed a wide array of new or increased state taxes

The Governor has proposed a wide array of new or increased state taxes:

  • income tax

  • gasoline tax

  • sales tax

  • property tax on boat

    and aircraft

    many others…

www.town.avon.ct.us


So what s left for towns

SO…What’s LEFT for Towns?

NOT MUCH:

1) Non-Property Tax Sources

(such as Licenses, Fees, Permits, Grants, etc.)

2) Property Taxes & Assessments

www.town.avon.ct.us


How avon relies on these sources

How Avon Relies On These Sources

www.town.avon.ct.us


Revenues needed to fund the requested budgets

Revenues needed to fund theRequested Budgets

www.town.avon.ct.us


Town of avon

Property Tax Breakdownfor Requested FY 11/12(88.75% of Revenue)All these items below constitute the “Levy”

  • Single Family Homes:66.42 %

  • Condos:12.72%

  • Commercial: 10.75 %

  • Motor Vehicles: 6.12%

  • Personal Property: 2.89 %

  • Industrial: 1.08 %

  • Other: 0.02%

    (Note that the “Single Family Homes” category pays about 58.94% of Avon’s Total Revenue.)

    [From October 1, 2010 Grand List]

www.town.avon.ct.us


Non property tax breakdown for requested fy 11 12 11 25 of revenue

Non-Property Tax Breakdown for Requested FY 11/12(11.25% of Revenue)

  • Intergovernmental (State/Federal Grants): 4.60 %

  • Licenses, Fees, & Permits: 1.14%

  • Charges for Current Services: 4.18%

  • Other Local Revenue & Financing Sources: 1.37 %

www.town.avon.ct.us


Revenue graph comparison

Revenue Graph Comparison

www.town.avon.ct.us


How will these revenues be used

How will these Revenues be used?

www.town.avon.ct.us


How will these revenues be used1

How will these Revenues be used?

www.town.avon.ct.us


5 year grand list history

5 Year Grand List History

www.town.avon.ct.us


Consumer price index 5 year history

Consumer Price Index 5 – Year History

* Source: Bureau of Labor Statistics, CPI-U, US City Annual Average

www.town.avon.ct.us


Social security cola 5 year history

Social Security (COLA) 5-Year History

www.town.avon.ct.us


Avon unemployment rate 5 year history

Avon Unemployment Rate 5 – Year History

* Source: Department of Labor, State of Connecticut

www.town.avon.ct.us


Multi town comparative data

Multi-Town Comparative Data

* Source: Office of Policy and Management – Municipal Fiscal Indicators FY 2005 - 2009

www.town.avon.ct.us


Tax impact requested expenditures

Tax Impact Requested Expenditures

For your specific real estate & motor vehicle taxes, please visit:

www.avonassessor.com

www.town.avon.ct.us


Next steps

Next Steps

Next Steps in Process

  • Public Hearing – Monday, April 4th, 7:00 p.m. @ Avon Senior Center

  • Workshops (at the Senior Center)

    Both the workshops listed below are not public hearings:

    • Wednesday, April 6th – 7:00 p.m.

    • Monday, April 11th – 7:00 p.m. (if necessary)

  • Town Meeting – Monday, May 2rd – 7:00 p.m. at the Avon Senior Center

  • Referendum – Wednesday, May 11th at the Avon Senior Center

    (Polls are open from 6:00 a.m. – 8:00 p.m.)

www.town.avon.ct.us


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