budget

FY 2003FY 2004FY 2005ActualBudgetBudgetChangeNotesPayrollSalaries413,611462,024498,5007.9%1Pension Plan (DCRS)70,14875,90474,500-1.8%Health Insurance95,67289,661103,50015.4%Retirees Insurance3,3845,5008,50054.5%Medicare6,0006,5257,20010.3%Worker's Comp3,1241,7502,75057.1%DET (Payroll Taxes)8851,2311,50021.9%subtotal592,824642,595696,4508.4%Administration & OperatingAdvertising3,7192,0002,0000.0%Communications001,000Audit Fees7,2008,0007,500-6.3%Capital Improvements012,00012,0000.0%2Contractual51,35215,00010,000-33.3%Dues/Subscriptions2,9533,5003,000-14.3%Equipment: Contract8,3395,0007,00040.0%Equipment: Interest 1,0691,0003,500250.0%3Equipment: Purchase13,5565,0002,500-50.0%Equipment: Repair5,5511,5002,50066.7%Insurance7,00912,00010,500-12.5%Legal Fees123,74680,000120,00050.0%4Maintenance6,6073,0003,30010.0%Mortgage: Principal17,10515,54018,00015.8%Mortgage: Interest18,23422,46021,500-4.3%Postage6,1675,5005,5000.0%Printing4,32210,0005,500-45.0%5Registry Fees1,3971,2001,2000.0%Rent3,4771,0001,0000.0%Supplies15,84014,00015,0007.1%Travel/Conference6,18210,0006,000-40.0%Utilities: Electric3,5723,5003,7507.1%Utililies: Telephone3,7295,5004,500-18.2%Utilities: Oil9873,0002,000-33.3%Utilities: Water7287308009.6%subtotal312,841240,430269,55012.1%905,665883,025966,0009.4%Grants/Contracts254,775281,001250,000-11.0%Interest/Other Income85,259040,000Town Share513,268602,024676,00012.3%853,302883,025966,0009.4%1/16/20043. $3,500 is interest incurred for 2 copier leases through DaRosa’s.4. $120,000 continue to pay down projected legal fees at rate of $10,000/month.5. $5,500 printing expense is lower due to not having to print the visitor map in 2005; this will be done bi-annually in the future. Also, the 2004 was in anticipation of printing several publications in the spring of 2004.1. We replaced the part-time employee with a full-time GIS Specialist at a salary of $13,500/year more than the previous part-time GIS salary. Therefore our actual pro-rated annual salary for FY04, is approximately $477,000 which is our basis for calculating FY05 salaries. Assumptions for FY05 salaries: COLA: 3% increase plus 1.5% average merit increase2. $12,000 represents an ongoing contingency fund for Old Stone Building renovations and capital improvements. We have restricted funds of $37,500 as of FY04.TOTAL INCOMETOTAL EXPENSESJuly 1, 2004 to June 30, 2005EXPE