TOWN OF NORFOLK REVENUE 2001 2006 AVERAGE GROWTH SOURCE AVERAGE - - PDF document

TOWN OF NORFOLK REVENUE 2001 – 2006 AVERAGE GROWTH SOURCE AVERAGE GROWTH STATE AID 1.69 % REAL ESTATE TAXES 7.79% OTHER 8.02% ALL REVENUE 6.47% EXPENSES 2001 – 2006 AVERAGE GROWTH TYPE AVERAGE GROWTH FIXED 12.59 % VARIABLE 4.94 %

Budgeted Revenues & Expenses (Net of Excluded Revenue and Debt Service) $21,875,754 $17,434,642 $21,762,637 $22,452,186 $16,531,751 $18,154,389 $19,598,118 $20,492,033 $21,244,078 $24,411,249 Recommended $18,767,862 $20,501,249

$16,000,000 $17,000,000 $18,000,000 $19,000,000 $20,000,000 $21,000,000 $22,000,000 $23,000,000 $24,000,000 $25,000,000

FY01 FY02 FY03 FY04 FY05 FY06

Revenue Recommended Exp Balanced Exp

$ 23,035,599 Balanced

Other Sources of Revenue How we have filled the gap! $0 $500 $1,000 $1,500 $2,000 $2,500 $3,000 FY01 FY02 FY03 FY04 FY05 FY06

Thousands

Ambulance Fund Cemetery Cops FAST Free Cash Worker's Comp Overlay Override Water Revenue (Debt)

Town of Norfolk Budgeted - Net of School Building Assistance and Excluded Revenue and Debt Service Expenses vs. Revenues

$17.4 $18.8 $20.5 $21.8 $22.5 $23.0 $24.4 $16.5 $18.2 $19.6 $20.5 $21.2 $21.9 $21.9

$- $5 $10 $15 $20 $25 $30

FY01 FY02 FY03 FY04 FY05 FY06 Balanced FY06 Recommended Millions

Expenses Revenues

Norfolk Budgeted Revenue FY01 - FY06 (Does not include Debt Excluded Revenue & School Building Assistance) 5 10 15 20 25 FY01 FY02 FY03 FY04 FY05 FY06 Millions Average Growth All Revenue = 6.47 % Real Estate Revenues = 7.79 % State Aid = 1.69 % Other = 8.02 %

Local Revenue Real Estate Taxes New Growth State Aid

$21,875,755 $21,006,797 $20,003,053 $18,422,258 $16,531,751 $19,292,673

State Aid Education & General Government

$0 $1 $2 $3 $4

FY01 FY02 FY03 FY04 FY05

Aid in Millions

Education General Government

FY05 Accepted VS FY06 Balanced VS FY06 Recommended Budgeted Fixed & Variable Expenses - Does not include SBAB and Excluded Revenue and Debt Service

$8,307,662 $9,244,229 $9,300,157 $14,144,523 $13,791,370 $15,111,092 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% FY05 FY06 Balanced FY06 Recommended Fixed Expenses Variable Expenses

Town of Norfolk Variable Vs. Fixed Expenses

$- $5 $10 $15 $20 $25 $30 Millions Variable Expenses $12,119,490 $13,042,831 $13,807,738 $14,192,700 $14,144,523 $13,791,370 $15,111,092 Fixed Expenses $5,315,152 $5,725,031 $6,693,511 $7,569,937 $8,307,662 $9,244,229 $9,300,157 FY01 FY02 FY03 FY04 FY05 FY06 Balanced FY06 Recommended Average Variable Increase = 4.94 % Average Fixed Increase - 12.59%

Real Tax Revenue by Type

$8 $9 $10 $11 $12 $13 $14 $15 $16 FY01 FY02 FY03 FY04 FY05 Millions

Residential Commercial Industrial