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Check your mailbox: 2019 Financial Newsletter comes out this month

Post Date: 01/01/2019 12:00 PM
2019 Financial Newsletter

The second annual Town financial newsletter will hit Dedham mailboxes later this month, but you can view and/or download the PDF today. The newsletter summarizes how Town revenue is raised and how that money is used for operations, capital projects, and other expenses.

For a more detailed breakdown of Town expenditures, see the Comprehensive Annual Financial Reports.

The FY2019 budget increased by 3% from the FY2018 budget. Debt service, capital expenditures, and public safety costs each represent around 10% of the Town's $115,315,281 budget. Employee benefits as well as salaries and expenses related to Town departments represent 14% and 16% of the budget, respectively.

Dedham continues to be a leader in employee pension funding. The Town currently funds 94.7% of pensions, the best in all of Norfolk County. Dedham maintains this while also staying in the middle of the pack (in Norfolk County) in average single family tax bills, which for 2018 was slightly lower than $6,900. The Town's position in rankings for this has not changed since 2017.

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