Town of Springfield - 2013 Budget Town Hall Meetings

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Presented by David Barnett (Finance Committee Chair) and David Amlen (Mayor) on April 18-19, 2013. …

Presented by David Barnett (Finance Committee Chair) and David Amlen (Mayor) on April 18-19, 2013.

Summary:
- Initial objective to control taxes and minimize any increase to the residents
2013 budget is very close to 2012 levels
- $5.85 (0.18%) increase per average household for the year [ local tax only]
- No reduction current township services
- Despite $650,000 in expenses from Sandy, the budget increase is minor
- Increases efficiencies that will benefit the Town in 2014
- Maintains strong surplus for extraordinary events bond rating and 2014 budget

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Transcript

  • 1. 2013 BudgetTown Hall MeetingsApril 18, 2013 & April 19, 2013Presented by:David Barnett, Finance Committee ChairDavid Amlen, MayorTownship of Springfield
  • 2. •  Local, 32%•  County, 19%•  Schools, 49%Property Tax Breakout*Local   County   Schools  *2013 Estimate, Not certified as of 4/18/2013  
  • 3. •  Deliver a local budget that minimizes the taxburden on the resident•  Develop new revenue streams•  Maintain or improve current levels of services•  Protect funding for PUBLIC SAFETY•  Prevent layoffs or furloughs•  Control departmental spending•  No new full-time hires•  Maintain healthy surplus to support bond rating,extraordinary events and the 2014 budgetBudget Objectives
  • 4. TAX INCREASE per AVG HOUSEHOLD*0.18% = $5.85Appropriations2013 $ 29,713,7582012 $ 29,329,096Increase $384,662*Local Only  
  • 5. Appropriations – Break Out2013 2012 % chOPERATING EXPENSES $18,752,437 $18,530,450 1.2%WAGES $10,961,321 $10,798,646 1.5%TOTAL $29,713,758 $29,329,096 1.3%
  • 6. Revenue2013 (Budget) 2012 (Budget)Surplus Anticipated $ 2,995,404 $ 2,893,406Local Revenues $ 761,001 $ 774,000State Aid $ 1,753,357 $ 1,753,357Construction Code Fees $ 215,000 $ 50,000Inter-local Agrmt BOE $ 100,000 $ 100,000Grant Money $ 32,997 $ 80,603Other Revenue $ 718,900 $ 620,000Delinquent tax $ 630,000 $ 676,000FEMA SANDY $ 100,000 n/aGeneral Revenues $ 7,306,659 $ 6,947,367Library Tax $ 898,504 $ 943,012Local Municipal Tax $ 21,508,596 $ 21,438,717Total General Revenue $ 29,713,758 $ 29,329,096
  • 7. Top 10 Expenses2013 2012 %Medical Insurance $3,813,553 $3,431,596 11.1%RVSA Sewer $2,250,500 $2,084,251 7.9%Police & Fire Retirement $1,387,900 $1,359,055 2.1%Bond Principal $1,210,000 $1,210,000 0.0%Library $1,023,600 $1,093,581 -6.4%Reserve Uncollected Tax $1,000,000 $1,000,000 0.0%Red Light Camera $456,000 n/a n/aBAN Principal $710,000 $322,857 119.9%Insurance Liability $495,479 $480,500 3.1%Public Employee Retirement $475,810 $503,787 -5.6%TOTAL $12,822,842 $11,485,627 11.6%
  • 8. •  Passaic River Litigation – $95,000 Settlement•  Super Storm Sandy cost the town about $650,000.About $252,000 must be absorbed by the town aportion of the remainder is expected from FEMA•  The Red Light Camera is anticipated to generate$656,000 in total revenue yielding $200,000 in netrevenue. The cost to the Township is $456,000•  A Bond Anticipation Notes (BAN) principal paymentof $710,000 is planned. This payment will reducethe Town’s debt as well as future expenses.2013 Special Expenses
  • 9. •  $2,600,000 has been earmarked for capitalimprovements–  New Road Paving and Improvements–  Dike and Flood Prevention Upgrades–  Sewer Improvements–  Storm Preparedness–  Chisholm Senior & Recreation Center Restoration–  Pool Filter Replacement–  New Police and Fire Equipment–  Continue Downtown Redevelopment EffortsCapital Improvements
  • 10. •  Initial objective to control taxes and minimize anyincrease to the residents•  2013 budget is very close to 2012 levels•  $5.85 (0.18%) increase per average household forthe year [ local tax only]•  No reduction current township services•  Despite $650,000 in expenses from Sandy, thebudget increase is minor•  Increases efficiencies that will benefit the Town in2014•  Maintains strong surplus for extraordinary eventsbond rating and 2014 budgetSummary