A-1
BOROUGH OF SOMERVILLE
CURRENT FUND
STATEMENTS OF OPERATIONS AND CHANGES IN FUND BALANCE
REGULATORY BASIS
YEARS ENDED DECEMBER 31, 2021 AND 2020
| REVENUE AND OTHER INCOME REALIZED | REF. | YEAR 2021 | YEAR 2020 |
|---|---|---|---|
| Fund Balance Utilized | A-2 | $2,700,000.00 |
$4,343,000.00 |
| Miscellaneous Revenues Anticipated | A-2 | 6,090,630.29 |
5,347,460.31 |
| Receipts from Delinquent Taxes | A-2 | 653,391.65 |
584,710.40 |
| Receipts from Current Taxes | A-2 | 43,688,613.80 |
43,029,940.84 |
| Non-Budget Revenue | A-2 | 441,522.72 |
252,008.15 |
| Other Credits to Income: | |||
| Interfund Loans Advanced ( Net) | 10,361.80 |
||
| Due from Animal Control - Statutory Excess | A-13 | 144.80 |
6,616.40 |
| Grant Reserve/Receivable Canceled, net | 0.39 |
||
| Unexpended Balance of Approp. Reserves | A-14 | 2,022,774.06 |
1,224,342.69 |
| Total Revenues | 55,597,077.32 |
54,798,440.98 |
|
| EXPENDITURES AND OTHER CHARGES | |||
| Budget Appropriations: | |||
| Operating Within CAPS: | |||
| Operating | A-3 | 15,025,950.00 |
13,064,525.00 |
| Def. Charges and Statutory Expend. | A-3 | 1,735,964.00 |
1,547,678.00 |
| Operating Excluded from CAPS: | |||
| Operating | A-3 | 932,810.83 |
221,713.14 |
| Capital Improvements | A-3 | 425,000.00 |
2,650,000.00 |
| Municipal Debt Service | A-3 | 2,546,435.72 |
2,490,014.87 |
| Def. Charges and Statutory Expend. | A-3 | 280,000.00 |
|
| Local District School Tax | A-12 | 25,134,682.00 |
24,772,858.00 |
| County Tax | A-12 | 5,523,410.23 |
5,314,089.90 |
| County Added Tax | A-12 | 4,495.13 |
8,341.70 |
| Downtown Somerville Alliance Tax | A-12 | 619,780.24 |
604,862.51 |
| Total Expenditures | 52,228,528.15 |
50,674,083.12 |
|
| Excess in Revenues | 3,368,549.17 |
4,124,357.86 |
|
| Adjustments to Income Before Fund Balance: | |||
| Expenditures Included Above Which | |||
| are by Statute Deferred Charges | |||
| to Budget of Succeeding Year | 1,350,000.00 |
||
| Statutory Excess to Fund Balance | 4,718,549.17 |
4,124,357.86 |
|
| FUND BALANCE | |||
| Balance - January 1 | A | 9,427,161.97 |
9,645,804.11 |
14,145,711.14 |
13,770,161.97 |
||
| Decreased by: | |||
| Utilized as Anticipated Revenue | A-1 | 2,700,000.00 |
4,343,000.00 |
| Balance - December 31 | A | $11,445,711.14 |
$9,427,161.97 |