# public budgeting and finance budget worksheet for a town

How do I calculate the budget assumptions below? I have to create a simple budget spreadsheet for a town that includes these revenue categories and the figures from the calculations. These are your beginning revenues assumptions. Thank you.

Taxes:

Your town has a residential home base of 28,350 units with an average assessed home value of \$140,000. The town collects an assessed rate of .115/100 of assessed value. Calculate the residential tax revenue.

 \$4,564,350.00

Businesses in your town generate approximately \$150,000,000 in sales revenue. Your town applies a sales tax rate of 2.35%. Calculate the business tax revenue.

 \$3,525,000.00

Service Fees:

Your town provides trash/water/sewer services for its residents and businesses at a rate of \$135/month. Your home base is 28,350 and your number of businesses is 400. Calculate the service fee revenue.

 \$46,575,000

IGAs:

Your town operates a landfill and charges \$60.50 per ton for use of the landfill. There are currently three IGAs with other localities in effect. 1- 50,000 tons per year, 2- 7,500 tons per month, 3- 35,000 tons per quarter. Calculate the IGA revenue.

 \$16,940,000

State Assistance:

Your town has a population of 147,000 residents. The state provides you a formula assistance of \$2 per person. Calculate the state assistance.

 \$294,000

Federal Assistance

Your townâ€™s population is broken down by age as follows:

40,000 under age 18

80,000 between the ages of 18 and 65

27,000 over the age of 65

The federal government provides assistance in the amounts of \$5,000 for every resident under age 18 and \$3,500 for every resident over the age of 65. Calculate the federal assistance.

 \$294,500,000

Grants:

Your town has received a grant to improve its water treatment plant. The grant is for \$75,000,000 over five years to be used by the town to modernize your water treatment plant. Calculate the grant revenue for the next fiscal year.

 \$5,000,000