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24 2016 Central Mass By The Numbers • Worcester Business Journal www.wbjournal.com Planning. Building. Financing. Regulatory. Partner with Solect and get the expertise, innovation and commitment you need every step of the way. VISIT SOLECT.COM / GOSOLAR OR CALL 508.598.3511 TO SEE WHAT SOLAR CAN DO FOR YOUR BUSINESS. SOLAR SOLUTIONS FOR BUSINESS. FROM THE LEADERS IN ALL THINGS SOLAR. MASSACHUSETTS AVERAGES 2,634 HOURS OF SUNLIGHT EVERY YEAR. WE'LL CATCH EACH ONE. Factoring economic growth in state spending The Massachusetts legislature increased state spending 2 percent with a $39.1-billion budget this year, but when factoring for economic growth, state spending dropped. Source: Office of the City Manager of Worcester Banking & Finance Infrastructure, Environment Health Human housing & economic Education & recreation care services development Law & public safety Local aid Other Total (Numbers in millions) Worcester government spending on the rise City revenues and expenditures increased by 2.7 percent from fiscal 2016 to fiscal 2017. FY 2017 $322,895,803 $27,370,235 $141,321,895 $122,506,313 $614,094,246 FY 2016 $318,793,113 $27,608,969 $132,602,993 $119,086,925 $598,092,000 change $4,102,690 -$238,734 $8,718,902 $3,419,388 $16,002,246 Worcester Charter City Fixed Public Schools schools services costs TOTAL Percentage of Worcester city budget FY17 Property Tax Levies ................................................................................................................ $282.5 million State Aid to Education ........................................................................................................... $237.5 million State Aid to the City ................................................................................................................ $53.7 million Local Receipts ........................................................................................................................ $39.7 million Other .......................................................................................................................................... $700,000 How will Worcester cover its expenses in fiscal year 2017? Education 57% City services 23% Fixed costs 20% Source: Massachusetts Budget and Policy Center, budget browser (Numbers in millions) Source: Office of the City Manager of Worcester FY2017 $7,793 $200 $19,382 $4,141 $2,239 $2,637 $1,061 $5,408 $42,864 FY2016 $7,952 $220 $19,882 $4,267 $2,373 $2,821 $1,053 $5,189 $43,759 change -$169 -$20 -$500 -$126 -$133 -$183 $8 $219 -$895