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24 2015 Central Mass By The Numbers • Worcester Business Journal www.wbjournal.com e Worcester Business Journal wants to know and is asking you to vote on the region's best B2B companies in our first Best of Business competition. We're conducting an Online Reader's Poll where you can vote for companies in up to 40 categories. e winners will be unveiled in the January 18, 2016 issue of the Worcester Business Journal, and honored at a special networking reception in late January. Go to www.wbjournal.com/BOBawards to place your vote today! Who are the best business-to-business companies in Central Massachusetts? The ones that truly offer the best service? Sweat all the details? Have customer-focused employees who deliver outstanding products and services? WE WANT TO KNOW! Awards W o r ce s t e r B us i n e s s J o u r n a l 2016 B E S T O F B U S I N E S S W o r ce s t e r B us i n e s s J o u r n a l VOTE NOW! State budget The commonwealth increased the budget slightly in fiscal 2016, which took effect July 1. Higher education and prisons, probation and parole took the hits to account for reduced spending on education and law and public safety. Source: Office of the City Manager of Worcester Finance Infrastructure, Economic development Environment Health Human housing & economic (part of infrastructure, housing, Law & Local Education & recreation care services development & economic development) public safety aid Other Total (Numbers in millions) Worcester city budget City revenues and expenditures increased by 3.9 percent from fiscal 2015 to fiscal 2016. FY 2016 $346,402,082 $318,793,113 $27,608,969 $132,602,993 $119,086,925 $598,092,000 FY 2015 $332,008,319 $304,751,850 $27,256,469 $127,311,978 $116,151,559 $575,471,856 Change $14,393,763 $14,041,263 $352,500 $5,291,015 $2,935,366 $22,620,144 Worcester Charter City Fixed Education Public Schools schools services costs TOTAL Percentage of Worcester city budget FY16 Property tax levies .................................................................................................................... $270 million State aid to education ........................................................................................................... $234.1 million State aid to the city ................................................................................................................. $40.5 million Mass. School Building Authority reimbursements ....................................................................... $11.6 million Local receipts ......................................................................................................................... $40.2 million Other ........................................................................................................................................ $1.6 million How will Worcester cover its expenses in fiscal year 2016? Education 58% City services 22% Fixed costs 20% Source: Massachusetts Budget and Policy Center, budget browser (Numbers in millions) Source: Office of the City Manager of Worcester FY 2016 $7,716 $211 $18,608 $4,090 $2,276 $228 $2,618 $1,022 $4,888 $41,429 FY 2015 $7,740 $204 $18,230 $4,095 $2,278 $228 $2,737 $1,017 $5,032 $41,333 Change $(169) $7 $378 $(5) $(2) $0 $(119) $5 $(144) $96