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Budget Home |
Expenditures
The Town of Lexington provides a wide variety of services to its
residents. Among these, education, public works, and public safety take
up the great majority of the budget. Expenditures total $142,411,271 which amounts to a
6.1% increase over FY 2006. These expenses
include:
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Major
Expense Categories
|
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Category
|
Amount
|
|
Education |
$63,371,309 |
|
Shared
|
$26,658,012 |
Municipal
|
$24,921,697 |
Capital & Reserves
|
$10,193,000 |
Enterprise Funds
|
$14,519,253 |
Revolving Funds
|
$708,000 |
Community Preservation Act (CPA)
|
$2,040,000 |
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Total
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$142,411,271 |
The FY 2007
Budget acknowledges that certain drivers are increasing expenses. They
include:
 | Health Care: Costs associated
with benefits will increase in FY 2007, a
moderate increase compared with previous yeas and surrounding
municipalities.
|
| Facilities & Utilities:
Costs to maintain, operate and renovate all Town properties
are increasing in FY 2007. Driving this increase are increases in the costs of vital utilities - natural
gas, electricity and heating oil. New buildings (schools, Cary Library) are designed to
be much more efficient than before. However, modern building codes
have greater safety and environmental requirements that increase
operating and maintenance costs. |
| School Enrollment: As more children continue to
enter the district, costs associated with teaching them continue to
rise. Mandated costs for transportation and special education have
not decreased although state revenue has continued to decline.
|
| Debt Service: As Lexington citizens have committed
to improving their capital infrastructure with new roads, schools, a
library and athletic facilities, many of these projects have been
funded with debt.
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| Click here for
the FY 2007 Budget: Budget Overview |
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