1 Introduced Budget

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1 Introduced Budget

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

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