| TOWN OF FREEPORT - FY
2008 BUDGET |
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| STATEMENT OF
REVENUES AND EXPENDITURES |
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| Council Amended
8/7/07 |
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FY 2004 |
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| DESCRIPTION |
APPROPRIATION |
FY 2007 |
FY
2008 |
VARIANCE |
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| REVENUES: |
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| School |
######## |
2,315,855.00 |
1,984,154.00 |
(331,701.00) |
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| School Debt |
######## |
364,719.00 |
344,781.00 |
(19,938.00) |
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| Education Tuition Carryover |
######## |
15,000.00 |
15,000.00 |
- |
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| Non-Property Tax |
#REF! |
3,135,760.00 |
3,228,545.00 |
92,785.00 |
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| Property Tax |
######## |
17,430,260.00 |
17,769,909.00 |
339,649.00 |
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| Fund Balance |
######## |
370,000.00 |
550,000.00 |
180,000.00 |
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| Transfer/Library Lease |
######## |
147,177.00 |
175,000.00 |
27,823.00 |
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| TOTALS |
#REF! |
$
23,778,771.00 |
$
24,067,389.00 |
$
288,618.00 |
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| EXPENDITURES: |
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| Municipal |
#REF! |
6,884,379.00 |
7,031,407.00 |
147,028.00 |
2.14% |
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| School |
######## |
13,588,512.00 |
13,928,807.00 |
340,295.00 |
2.50% |
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| School Debt (State Funded Only) |
######## |
364,719.00 |
344,781.00 |
(19,938.00) |
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| County Tax |
######## |
751,831.00 |
761,800.00 |
9,969.00 |
1.33% |
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| Bustins Island |
######## |
174,000.00 |
168,000.00 |
(6,000.00) |
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| Agencies |
######## |
46,400.00 |
45,900.00 |
(500.00) |
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| Economic Development Corp. |
######## |
85,000.00 |
85,000.00 |
- |
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| Capital Reserves (Town & School) |
######## |
75,000.00 |
75,000.00 |
- |
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| Debt Services (Town & School) |
######## |
1,580,930.00 |
1,423,694.00 |
(157,236.00) |
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| RWS Capital Contribution |
######## |
178,000.00 |
178,000.00 |
- |
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| Abatements |
######## |
50,000.00 |
25,000.00 |
(25,000.00) |
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| TOTALS |
#REF! |
$
23,778,771.00 |
$
24,067,389.00 |
$
288,618.00 |
1.21% |
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| Projected Tax Mil Rate |
18.10 |
12.50 |
12.56 |
0.06 |
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| Valuation Base |
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1,394,000,000 |
1,415,000,000 |
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| EFFECT OF BUDGETS ON TAX RATE INCREASE |
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FY 2004 |
FY 2006 |
FY 2007 |
VARIANCE |
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| School |
######## |
10,952,635.00 |
11,929,653.00 |
977,018.00 |
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| Debt Service |
######## |
1,580,930.00 |
1,423,694.00 |
(157,236.00) |
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| RWS Capital Contribution |
######## |
178,000.00 |
178,000.00 |
- |
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| Capital Reserves (Town & School) |
######## |
75,000.00 |
75,000.00 |
- |
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| Economic Development Corp. |
######## |
85,000.00 |
85,000.00 |
- |
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| County Tax |
######## |
751,831.00 |
761,800.00 |
9,969.00 |
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| Bustins Island |
######## |
174,000.00 |
168,000.00 |
(6,000.00) |
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| Agencies |
######## |
46,400.00 |
45,900.00 |
(500.00) |
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| Municipal |
#REF! |
3,651,442.00 |
3,652,862.00 |
1,420.00 |
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| Use of Surplus |
######## |
(370,000.00) |
(550,000.00) |
(180,000.00) |
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| TOTAL |
#REF! |
17,125,238.00 |
17,769,909.00 |
644,671.00 |
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