(UPDATED) Watchdog group: Boston ended FY 2010 with $9.1m surplus, but...
Boston's coffers ended fiscal year 2010 with a $9.1 million surplus, a fiscal watchdog group reports.
The Boston Municipal Research Bureau said Monday that the $9.1 million represents represents 0.4 percent of that fiscal year's $2.3 billion in spending.
But let's not start jumping around and compiling a list of programs to restore to full funding just yet.
Sam Tyler, head of the BMRB, notes, "This is money that has to be reserved for fiscal 2012."
That's because in the fiscal 2012 budget, the city expects to see a steep drop in local aid from the state, as well as the disappearance of federal stimulus money. There's also pension costs to think about and the usual increases in spending. (The city had to dip into its reserves to the tune of $45 million for fiscal 2010.)
In fiscal year 2009, the city had a $4.1 million surplus; in fiscal year 2008 the figure was $15.8 million; in fiscal 2007 $15.2 million.
For fiscal year 2010, city spending reached $2.29 billion, which comes out to $13.1 million more than expected.
Areas with the biggest surplus, according to BMRB: snow removal ($3.5 million), charter school sending tuitions ($4 million), Public Works Department ($587,746) and Fire Department ($568,834). The School Department also had a surplus, which reached $52,187.
More available here: http://www.bmrb.org/content/upload/ye910.pdf