City of Nashua
Capital Equipment Reserve Fund
“CERF” Balance Analysis
Description
Available Balance
FY2018 Budgeted Expenditures - Deferred
Projected FY2018 Ending Fund Balance
Proposed FY2019 Appropriation
Proposed FY2019 Expenditures
Proposed Funding for Revaluation Project - 2018
Projected FY19 Ending Fund Balance
Amount
$ 2,998,497
(1,280,766)
§ 1,717,731
$ 1,000,000
(2,053,070)
(500,000)
S$ 164,661
Savings Account
CERF Reorganized in FY 2010 & FY 2015
Fully fund capital equipment (vehicles)
Majority purchased with Cash & Bonds
— Limited purchases through grants & trust funds
Phase 1 — included all DPW, Fire, & Police
2010
— 245 line items (DPW 121, Police 77, Fire 47)
Phase 2 — included School & General City
Departments (Cemeteries, Purchasing, IT,
Building Maintenance., Communications, Library
and Community Services)
2013
Review of
Capital Equipment Reserve Fund
(CERF}
3/21/18
Property Taxes
(in millions)
Assumed Property Assumed Property
Taxes - $200 Million Taxes - $200 Million
Tax Year 2017 Tax Year 2018
$132
$124.8
$75.2
$68
Residential C&I Residential C&I
Assessed Value
(in billions)
Current Preliminary Future
Assessed Value Assessed Value
Tax Year 2017 Tax Year 2018
$6.6
$5.3
$3.2 93.4
Residential C&I Residential C&I
ER =.80 ER = .93 ER = 1.00 ER = 1.00
3/23/2018 Page 2
Potential Impacts
from the
2018 Full Statistical Revaluation
Finance Committee - 3/21/2018 Page 20
Mayor Donchess
Because the street is going to be closed to complete the construction. Any other items for discussion. If not
we will go to record of expenditures.
RECORD OF EXPENDITURES
MOTION BY ALDERMAN O’BRIEN THAT THE FINANCE COMMITTEE HAS COMPLIED WITH THE CITY
CHARTER AND ORDINANCES PERTAINING TO THE RECORD OF EXPENDITURES FOR THE PERIODS
FROM FEBRUARY 16, 2018 TO MARCH 1, 2018 AND FROM MARCH 2, 2018 TO MARCH 15, 2018
MOTION CARRIED
PUBLIC COMMENT None
Finance Committee - 3/21/2018 Page 19
several years. But whenever you go through something like this, there will be information hearings,
discussions, abatements and so forth. And for you folks, we have an overlay account which is used to support
the payment of tax abatements. So the current overlay annual amount is $2 million dollars. If a tax payer was
awarded an abatement or had an abatement they would get it out of that account.
Mayor Donchess
But our balance is more than that.
John Griffin
Finance Committee - 3/21/2018 Page 18
Mayor Donchess
Finance Committee - 3/21/2018 Page 17
work with KRT we work together on the contract and we are comfortable with the contract. But we will get into
that a little bit later | suppose. Thank you.
Mayor Donchess
