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Agenda 1) Process Overview 25 Min. 2) Budget Presentation 25 Min. 3) Budget Priorities 60 Min. 4) Next Steps 10 Min. Committee of the Whole Workshop February.

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Presentation on theme: "Agenda 1) Process Overview 25 Min. 2) Budget Presentation 25 Min. 3) Budget Priorities 60 Min. 4) Next Steps 10 Min. Committee of the Whole Workshop February."— Presentation transcript:

1 Agenda 1) Process Overview 25 Min. 2) Budget Presentation 25 Min. 3) Budget Priorities 60 Min. 4) Next Steps 10 Min. Committee of the Whole Workshop February 8,

2 ActivityDate(s) COW Meetings (4)Feb. 8 – Mar. 21 Next meeting: Revenues and ExpensesFeb. 22 Budget due to CouncilApr. 16 Public Hearing and Dept. HearingsApr./May Budget due to Mayor from CouncilMay 21 Final Adoption (no later than)May 31 Interactive Budget Process 2

3 33

4 4 City of Hartford FY Adopted Budget & Headcount FULL TIME EXPENSES HEAD COUNT General Government 22,829, Infrastructure 13,472, Development Services 5,057, Health & Human Services 5,091, Public Safety 74,065,368 1,002 Sundry Expenditures 135,397,506 0 Hartford Public Schools 283,365,643 2,227 Hartford Public Library 7,915, Total General Fund 547,194,221 3,828

5 Adopted Budget History * Budget of $547,194,221 includes the FY Adopted Budget of 545,944,221 and the FY Supplemental Appropriation of $1,250,000 for the Livable and Sustainable Neighborhoods Initiative (LSNI). 5

6 6 General Fund Balance Annual Change

7 7 General Fund Balance

8 FY Where Does The Money Go? FY General Fund As Amended Appropriation Budget $ 547,194,221 Education $ 283,365, % Hartford Public Library $ 7,915,0001.4% Municipal $ 255,913, % General Fund Budget $ 547,194, % 8

9 FY Financial Forecast ($ in thousands) 9

10 FY Mitigation Strategies ($ in thousands) 10 CHALLENGES: Revenues: Tax Lien Sales1,500 Intergovernmental (Pequot) 1,500 License, Inspections & Use of Money1,093 Total4,093 Expenses: Benefit & Turnover Reduction Targets4,550 Police Overtime1,700 October Snow Storm1,100 Hartford Public Schools & Other 784 Total8,134 Total Challenges 12,227 MITIGATION/OPERATIONAL: Revenues: Property Taxes (Prior Year Levies)1,500 Other Revenues 800 Total2,300 Expenses: Salary Savings2,500 Employee Benefits2,400 Tipping Fees & Property Insurance1,250 Total6,150 Total Mitigation/Operational 8,450 NET (3,777)

11 City of Hartford FY Budget Forecast 11

12 Revenues: > currently projected to be $508,679,000 … … a decrease of 7.0% Expenditures: > currently projected to be $563,070,000 … … an increase of 2.9% The FY budget gap as of 2/8/12 is currently projected to be: $54,391,000 Initial FY Budget Projection 12

13 Revenue Drivers: Dollars Mills –General Property Tax Reduction 35, –Other Sources of Revenue Reduction 3, Total Revenue Reduction 38, Expenditure Drivers: –Pension and Insurance Increase 7, –Departmental Payroll Increase 5, –Other Expenditures Increase 2, Total Expenditure Increases 15, Estimated Budget Gap 54, The DO NOTHING Scenario Major FY Budget Drivers & Impact On The Mill Rate Comparison To Budget ($ in thousands) 13

14 14 Reduction: Impact of Revaluation22,890 Elimination of Commercial Surcharge12,538 Total Change 35,428 Revenue Loss Distribution (% of loss): Residential 15 % Commercial 72 % Personal & Auto 13 % Total Distribution 100 % Property Tax Revenue ($ in thousands)

15 Budget Priorities 15

16 Proposed ScheduleProposed Date Revenues and Expenditures February 22 nd (Wednesday) Debt Service, Capital and PensionMarch 8 th (Thursday) Board of Education, Library and Hartford Parking AuthorityMarch 21 st (Wednesday) Mayor finalizes Recommended BudgetLate March-Early April Budget Due to CouncilApril 16 th (Monday) Public Hearing & Dept. HearingsLate April-Mid May Budget Due to MayorMay 21 st (Monday) Final Adoption (no later than)May 31 st (Thursday) Next Steps 16


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