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EXPLANATORY STATEMENT- (Continued)

BUDGET MESSAGE

SUMMARY TAX LEVY CAP CALCULATION

Levy Cap Calculation

Prior Year Amount to be Raised by Taxation for Municipal Purposes

753,234

Cap Base Adjustment (+/-)

Less: Prior Year Deferred Charges to Future Taxation Unfunded

(19,010)

Less: Prior Year Deferred Charges: Emergencies

Less: Prior Year Recycling Tax

Less: Changes in Service Provider:Transfer of Service/Funcion

Net Prior Year Tax Levy for Municipal Purpose Tax for Cap Calculations

734,224

Plus 2% Cap increase

14,684

Adjusted Tax Levy

748,908

Plus: Assumption of Service/function

Adjusted Tax Levy Prior to Exclusions

748,908

Exclusions:

Allowable Shared Service Agreements Increase

Allowable Health Insurance Cost Increase

12,308.00

Allowable Pension Obligations Increase

Allowable LOSAP Increase

Allowable Capital Improvement Increase

6,000.00

Allowable Debt Service, Capital Leases and Debt Service

Share of Cost Increases

41,815.00

Recycling Tax Appropriation

Deferred Charges to Future Taxation Unfunded

Current Year Deferred Charges: Emergencies

Add Total Exclusions

60,123.00

Less Cancelled or Unexpended Exclusions

(79.00)

Adjusted Tax Levy After Exclusions

808,952

Additions:

New Ratables - Increase in Valuations (New Construction

and Additions)

412,100

Prior Year's Local Municipal Purpose Tax Rate (per$100)

0.642

New Ratable Adjustment to Levy

2,646

Amounts approved by Referendum

Maximum Allowable Amount to be Raised by Taxation

811,598

Amount to be Raised by Taxation for Municipal Purposes

758,581

Under Cap

53,017

NOTE:

Sheet 3b-2

MANDATORY MINIMUM BUDGET MESSAGE MUST INCLUDE A SUMMARY OF:

1. HOW THE 1977 "CAP" WAS CALCULATED. (Explain in words what the "CAPS" mean and show the figures.)

2. 2010 "CAP" LEVY WORKBOOK SUMMARY

3. A SUMMARY BY FUNCTION OF THE APPROPRIATIONS THAT ARE SPREAD AMONG MORE THAN ONE OFFICIAL LINE ITEM

(e.g. if Police S&W appears in the regular section and also under "Operations Excluded from "CAPS" section, combine the

figures for purposes of citizen understanding.)

4. INFORMATION OR A SCHEDULE SHOWING THEA AMOUNTS CONTRIBUTED FROM EMPLOYEES, THE EMPLOYER SHARE

AND THE TOTAL COST OF HEALTH CARE COVERAGE (Refer to LFN 2011-4).