How Does Braintree Fund its Budget?

Below is a break-down of the revenue streams Braintree will use to fund its government during fiscal year 2014, starting July 1.

The Committee on Ways & Means will examine the budget more closely, department-by-department, during a series of upcoming public meetings.

See the schedule here: http://braintree.patch.com/articles/braintree-s-fiscal-year-2014-budget-review-schedule

Return to Braintree Patch for more coverage of the budget.

For a budget spending breakdown, go to http://braintree.patch.com/articles/2014-braintree-budget-breakdown

Type of Revenue            Amount in FY2014            Difference From 2013 

Tax Levy                           $76,069,177                       $2,692,649

State Aid                          $15,453,909                        $103,732

Local Receipts                   $14,255,950                        $1,970,459

Golf Transfer                    $71,275                               $14,885

Water/Sewer Transfer        $461,678                            $113,434

Overlay Surplus                $225,000                             $75,000

Misc.                                $126,350                            0

Total Revenue                   $106,663,339                     $4,970,159

Local Receipts Breakdown – FY 2014 Budgeted

Motor vehicle excise: $4,374,000

Hotel/motel tax: $1,050,000

Meals tax: $700,000

Penalties and interest: $340,000

Payment in lieu of taxes: $2,230,000

Trash fee: $1,489,000

Fees: $900,000

Rental building: $343,000

Cemetary: $28,000

Other dept. revenue: $151,000

Licenses and permits: $1,789,950

Fines and forefeitures: $150,000

Investment income: $125,000

Misc. Recurring: $410,000

School transportation fees: $175,000

Community Preservation Act Fund

Total CPA fund balance: $4,628,933.71 (as of March 31, 2013)

Estimated 2014 revenue from portion of property taxes: $737,315

Proposed FY2014 spending: $705,000

Estimated 2013 spending: $635,000