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Inside Town Finances
Inform and Educate
In 2020 / 2021 the Select Board’s Office introduced “Inside Town Finances”, a weekly one-page publication designed to inform and educated the community on various municipal financial topics. Topics to be explored included revenue sources, local receipts, Proposition 2 1/2 , expenses, Fund Balance, and enterprise funds.
Inside Town Finances: Read and Watch All Volumes
| Description | Download and Read the PDF Document | Watch Mary Power Review the Volume, Courtesy of Harbor Media | |
|---|---|---|---|
| Volume 1 - Revenue | Provides an overview of Town revenue sources and how the tax levy, our largest source of revenue is calculated. (Jan 14, 2020) |
Read (PDF) | Watch Video |
| Volume 2 - Local Receipts | Explores Local Receipts, which make up about 10% of total Town revenue and include motor vehicle excise tax, ambulance revenue, investment income, and more. (Jan 20, 2021) |
Read (PDF) | Watch Video |
| Volume 3 - Excluded Debt | Outlines how excluded debt works and explains how the Town uses these temporary tax increases to finance large school and municipal projects. (Jan 26, 2021) |
Read (PDF) | Watch Video |
| Volume 4 - Property Tax Bills | 75% of Hingham’s revenue comes from property taxes, which are paid quarterly. Check out Volume 4 of Inside Town Finances on the Board of Selectmen website to learn how the Town calculates your property tax bill. (Feb 2, 2021) |
Read (PDF) | Watch Video |
| Volume 5 - Proposition 2 1/2 and the Impact of Voter-Authorized Tax Increases | Delves into operating overrides and debt exclusions to explore how voter-authorized tax increases impact property tax bills over time. (Feb 9, 2021) | Read (PDF) | Watch Video |
| Volume 6 - Fund Balance | Explores how Fund Balance (also known as Free Cash or Available Reserves) is calculated and how it can be used according to the Town’s financial policy. (Feb 16, 2021) | Read (PDF) | Watch Video |
| Volume 7 - Expenses | Groups Town expenses into three main categories - municipal services, education services, and shared expenses - and analyzes expense trends over time. (Feb 23, 2021) | Read (PDF) | Watch Video |
| Volume 8 - Municipal Expenses | Looks at the different categories of municipal expenses, including General Government, Public Safety, Public Works, Human Services, and Culture and Recreation (Mar. 2, 2021) | Read (PDF) | Watch Video |
| Volume 9 - Five Year Forecast | Explains how the Town uses the Five-Year Forecast as an important tool to inform the annual budget process, financial goal setting, and personnel management activities. (Mar 9, 2021) | Read (PDF) | Watch Video |
| Volume 10 - Enterprise Funds and Sewer | Provides an overview of the Town’s enterprise funds and the business-like services that they support. (Mar. 16, 2021) | Read (PDF) | Watch Video |
| Volume 11 - Hingham's Bond Rating | Explains why the Town’s AAA bond rating is so important and what factors impact our credit worthiness. | Read (PDF) | Watch VIdeo |
| Volume 12 - Long Terrm Liabilities | Provides an overview of the Town’s pension and other post-employment benefits (OPEB) liabilities. | Read (PDF) | Watch VIdeo |
| Volume 13 - Capital Improvements | Explains how the Town budgets and plans for capital improvements according to our Financial Policy to ensure we are taking proper care of municipal facilities and equipment. | Read (PDF) | Watch Video |
| Volume 14 - Real Estate Assessments | Explains the role of the Assessor's Office and how real estate assessments are determined | Read (PDF) | Watch Video |
| Volume 15 - Overrides and Debt Exclusions | NEW! - Explains the difference between an override and a debt exclusion and explores the tax impact of each. | Read (PDF) | Watch Video |