By Melanie Petrucci, Senior Community Reporter
Shrewsbury – Town Manager Kevin Mizikar shared a presentation of his draft fiscal year (FY) 2022 Fiscal Projection One with the Board of Selectmen at their Feb. 9 meeting. The presentation contained revenue projections and operating budgets.
“What we are looking from the revenue side of things…It’s about $8.8 million of new revenue,” Mizikar remarked.
In total revenue $154,873,279 in total revenue is projected. This reflects an increase of $3,792,177 from FY 2021. Of that amount, $3,414,177 will be directed towards operating expenses leaving $378,070 for non-operating uses.
Taxation is the biggest source at $90,721,180 followed by state-aid which is forecasted at $27,540,270 with the inclusion of local receipts (Schedule A), utility, Free Cash and other available funds.
Revenue is broken into two categories – unrestricted and restricted. Unrestricted funds equaling $119,037,915 are primarily used for operational support.
Restricted revenues are earmarked for specific uses such as debt service and maintenance and operations of utilities and equal $35,835,364.
Mizikar’s first projected budget summary total for FY2022 is $131,793,857 and education is the largest driver at $70,522,000. Others include Administration & Finance, Public Safety, DPW, Community Development, Debt and Interest and Retirement.
He noted that the Board of Selectmen had previously approved reducing funding for retirement by $1,590,000 which will help balance school and municipal operations.
Selectman John Lebeaux inquired what the fund unrestricted non-operating distribution of $378,070 will be used for?
Mizikar replied that it goes into the general fund and can be used towards capital improvements.
He added that one of the most difficult decisions to make was within the police department budget but that “Chief [Kevin] Anderson put together a very thoughtful proposal to begin to kind of change the direction of the Police Department…”
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