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1 Introduced Budget

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  • 1. City of Hoboken SFY 2010 Introduced Municipal & Parking Utility Budget
  • 2. Summary of SFY2009 Budget Results
    • APPROPRIATION
    • Total Appropriations $124,540,907
    • Amount Expended $118,091,429
    • Appropriations Reserve $6,449,478
    • REVENUES
    • Anticipated Revenues $124,540,907
    • Actual Revenues $134,212,051
    • Excess Revenue to Surplus $9,671,144
  • 3. What does This Budget Do?
    • Reduces the Amount To Be Raised by 8% From $60,442,000 to $55,611,214
    • Applies a zero base budgeting approach using historical date as a reference not a starting point
    • Accurately assesses what it cost to run the City’s operations
    • Supplies staffing in areas that will better serve the public health & safety
    • Reestablishes the Cross Town Bus
    • Addresses the need of parking and transportation within the City while increasing revenue for the City
    • Provides for a Capital Plan for Various Capital Projects neglected for years such as: Much needed Road Repairs, new public safety equipment and other items (see Capital Budget for details)
    • Supplies the Police Department with 5 new police vehicles
    • Technology upgrades including: Computers, network & other communication improvements
  • 4. SFY 2010 Budget Summary
    • APROPRIATIONS
    • Operations:
    • Within CAPS $75,583,249
    • Statutory Expenditures $7,723,750
    • Outside Cap $4,450,003
    • Capital Improvements $250,000
    • Municipal Debt Service $8,659,817
    • Total Deferred Charges $1,619,392
    • Judgments $100,000
    • Reserve For Uncollected Taxes $380,000
    • Total General Appropriations $98,766,212
    • REVENUES
    • Surplus Anticipated $3,000,000
    • Miscellaneous Revenues:
    • Local Revenue $21,762,189
    • State Aid $14,517,355
    • UCC Fees $577,781
    • Other Special Revenue $2,757,673
    • Total Miscellaneous Revenue $40,154,998
    • Subtotal General Revenue $43,154,998
    • Amount To Be Raised by Taxes $55,611,214
    • Total General Revenues $98,766,212
    SFY 2010 Budget Summary
  • 5. Cost Drivers
    • Health Care Cost $14,800,000
    • Pension Increase $3,266,918
    • Retroactive Pay $3,000,000
    • Salary & Wage Increase $2,900,000
    • Deferred Charges $1,619,392
    • Salary Settlements $1,500,000
    • Irresponsible Debt Management $1,200,000
    • Decrease in State Aid $505,000
    • Decrease in Revenue $160,000
  • 6. Discretionary Spending Analysis
    • Total Budget $98,766,211
    • Non Discretionary Deferred Charges $1,619,392
    • Debt Service $8,659,817
    • Pension $6,886,454
    • Salary & Wages $44,186,158
    • Statutory Obligations $1,937,296
    • Health Benefits/other Insurance $15,985,031
    • Salary Settlements & Adjustments $4,500,000
    • Library $3,350,000
    • Other $1,830,000
    • Reserve For Uncollected Taxes $380,000
    • Total Non Discretionary $89,334,152
    • Discretionary Spending $9,432,059
  • 7. Explanation of 2010 and Projection of 2011 Budgets 2009 2010 2011 Total Appropriations $124,540,907 $98,766,211 $98,766,211 Less: General Revenues ($64,118,907) ($43,154,998) ($43,154,998) Items in 2010 not in 2011 ($11,194,426) Plus: New Pilot $1,700,000 __________________________________________________ Amount to be Raised $60,422,000 $55,611,213 $42,716,787 % Decrease From PY 8.0% 21.4% % Decrease from 2009 27.6%
  • 8. Items in 2010 not in 2011
    • TAN Interest $1,100,426
    • Salary Adjustment $3,000,000
    • Salary Increase $1,674,000
    • Pension Reduction $600,000
    • Attrition $3,000,000
    • Note Interest Savings $820,000
    • Health Insurance Savings $1,000,000
    • Total Savings $11,194,426
  • 9. Salary & Wages vs. All Appropriations
  • 10. Salary & Wage by Department
  • 11. Comparison of Department Cost Total Equals $55,337,268
  • 12. County, School & Municipal Levy