Post on 08-Apr-2018
8/7/2019 CY 2011 Budget Presentation Nick Trasente
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City of HobokenCity of Hoboken
CY 2011CY 2011
Introduced Municipal & Introduced Municipal &
Parking Utility BudgetParking Utility Budget
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SFY 2011 Budget SummarySFY 2011 Budget Summary
APROPRIATIONSAPROPRIATIONS
Operations:Operations:
Within CAPS $83,587,271Within CAPS $83,587,271
Total S&WTotal S&W $37,645,600$37,645,600
Total O.E.Total O.E. $35,183,141$35,183,141
Statutory Expenditures $10,734,812Statutory Expenditures $10,734,812
Outside Cap $14,842,225Outside Cap $14,842,225
Capital Improvements $ 250,000Capital Improvements $ 250,000
Municipal Debt Service $6,302,805Municipal Debt Service $6,302,805
Total Deferred Charges $1,978,102Total Deferred Charges $1,978,102
Judgments $400,000Judgments $400,000Reserve For Uncollected TaxesReserve For Uncollected Taxes $3,292,369$3,292,369
Total General Appropriations $101,721,865Total General Appropriations $101,721,865
REVENUESREVENUES
Surplus Anticipated $9,585,000Surplus Anticipated $9,585,000
Miscellaneous Revenues:Miscellaneous Revenues:
Local Revenue $22,646,749Local Revenue $22,646,749
State Aid $11,113,035State Aid $11,113,035
UCC Fees $683,500UCC Fees $683,500
Other Special RevenueOther Special Revenue $2,563,202$2,563,202
Total Miscellaneous RevenueTotal Miscellaneous Revenue $37,665,313$37,665,313
Subtotal General Revenue $47,643,623Subtotal General Revenue $47,643,623
Amount To Be Raised by TaxesAmount To Be Raised by Taxes $54,078,242$54,078,242
Total General Revenues $101,721,865Total General Revenues $101,721,865
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What Does This Budget DoWhat Does This Budget Do
Reduces the Amount To Be Raised by 5.17% From TY10 and 9.91%Reduces the Amount To Be Raised by 5.17% From TY10 and 9.91%From FY10 While:From FY10 While:
Including 4 Year Salary Settlement with PBA and SOA including ReIncluding 4 Year Salary Settlement with PBA and SOA including RetrotroPayPay
Absorbing $1,288,446 or 17.6% Increase to PensionAbsorbing $1,288,446 or 17.6% Increase to Pension
Absorbing an Increase in General Liability and Health Benefits oAbsorbing an Increase in General Liability and Health Benefits of Overf Over$2 Million or 11%$2 Million or 11%
Including Amounts for Reserve for Uncollected Taxes, Tax AppealsIncluding Amounts for Reserve for Uncollected Taxes, Tax Appeals, PY, PYEmergency Appropriations Not in FY10 equaling $5,127,369Emergency Appropriations Not in FY10 equaling $5,127,369
Including a Reduction in Debt Service of $2,357,000.00 from FY10Including a Reduction in Debt Service of $2,357,000.00 from FY10
Reduction In Total Salaries by $2,895,000 (approximately $4 millReduction In Total Salaries by $2,895,000 (approximately $4 millionioninclusive of retroactive pay) from FY10inclusive of retroactive pay) from FY10
Absorbing a Reduction of State Aid of $3,400,000 from FY10Absorbing a Reduction of State Aid of $3,400,000 from FY10
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Cost DriversCost Drivers
Retroactive Pay $3,000,000Retroactive Pay $3,000,000
Health Care Cost $1,640,000Health Care Cost $1,640,000
Pension Increase $1,288,446Pension Increase $1,288,446
Deferred Charges $1,954,393Deferred Charges $1,954,393
Salary Settlements $1,300,000Salary Settlements $1,300,000
Decrease in State Aid $3,400,000Decrease in State Aid $3,400,000
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Surplus AnalysisSurplus Analysis
Total Surplus $25,422,135.79Total Surplus $25,422,135.79
Less:Less:
Due From State Senior/Vet Deduction 27,152.35Due From State Senior/Vet Deduction 27,152.35
Deferred Charges 6,8Deferred Charges 6,812,569.8612,569.86
State Aid ReceivableState Aid Receivable 3,864,299.503,864,299.50
Cash Surplus Available for Use $14,718,114.08Cash Surplus Available for Use $14,718,114.08
Less:Less:Amount Used For BudgetAmount Used For Budget 9,585,000.009,585,000.00
Surplus Balance for Bond Rating $5,133,114.08Surplus Balance for Bond Rating $5,133,114.08
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Surplus Used In BudgetSurplus Used In Budget
Surplus to Reduce Taxes (Regenerates) 4,250,000.00Surplus to Reduce Taxes (Regenerates) 4,250,000.00
Salary Settlement (RetroSalary Settlement (Retro--One Time) 3,000,000.00One Time) 3,000,000.00
Tax Appeals (Limited Time) 1,500,000.00Tax Appeals (Limited Time) 1,500,000.00
PY Emergency Appropriation (One Time) 335,000.00PY Emergency Appropriation (One Time) 335,000.00
Salaries for Retirees (One Time) 300,000.00Salaries for Retirees (One Time) 300,000.00
Capital Improvement FundCapital Improvement Fund
(Capital Infrastructure)(Capital Infrastructure) 200,000.00200,000.00
Total Surplus Used in Support of Municipal BudgetTotal Surplus Used in Support of Municipal Budget::
$9,585,000.00$9,585,000.00
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Discretionary Spending AnalysisDiscretionary Spending Analysis
Total Budget $101,7Total Budget $101,721,86521,865
Non DiscretionaryNon Discretionary
Deferred Charges $1,978,102Deferred Charges $1,978,102
Debt Service $6,302,Debt Service $6,302,805805
Pension $8,59Pension $8,594,6724,672
Salary & Wages $37,645,600Salary & Wages $37,645,600
Statutory Obligations $1,856,540Statutory Obligations $1,856,540
Health Benefits/other Insurance $17,054,246Health Benefits/other Insurance $17,054,246
Salary Settlements & Adjustments $4,300,000Salary Settlements & Adjustments $4,300,000
Library $3,Library $3,414,730414,730
Other $7,Other $7,414,840414,840
Reserve For Uncollected TaxesReserve For Uncollected Taxes $3,292,369$3,292,369
Total Non Discretionary $91,853,904Total Non Discretionary $91,853,904
Discretionary Spending $9,867,961Discretionary Spending $9,867,961
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3 Year Budget Appropriations History3 Year Budget Appropriations History
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2011 vs. 2010 Budget Revenue2011 vs. 2010 Budget Revenue
ComparisonComparison
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Salary & Wage by DepartmentSalary & Wage by Department
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Comparison of Department CostComparison of Department Costto Total Budgetto Total Budget
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Salary & Wages vs. AllSalary & Wages vs. All
AppropriationsAppropriations