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1 TOWNSHIP OF CRANFORD 2004 MUNICIPAL BUDGET Budget Summary Tax Impact Revenues Departmental Budgets Health Care Cost Burden Capital Budget Projects Potential.

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Presentation on theme: "1 TOWNSHIP OF CRANFORD 2004 MUNICIPAL BUDGET Budget Summary Tax Impact Revenues Departmental Budgets Health Care Cost Burden Capital Budget Projects Potential."— Presentation transcript:

1 1 TOWNSHIP OF CRANFORD 2004 MUNICIPAL BUDGET Budget Summary Tax Impact Revenues Departmental Budgets Health Care Cost Burden Capital Budget Projects Potential Future Budget Increases 2004 Budget Initiatives

2 2 Total Municipal Operating Budget Increase of $608,970

3 3 Reduction in Revenues (Excluding State Aid & Surplus) $210,890

4 4 Reduction In The Use of Surplus $88,895

5 5 Reduction In Expected Collection From Delinquent Taxes $98,925

6 6 Increase In State Aid $73,786

7 7 Increase In Municipal Taxes $933,984

8 8 TAX IMPACT MUNICIPAL $100 on House Assessed at $177,900 BOARD OF EDUCATION $160 on House Assessed at $177,900 UNION COUNTY $80 on House Assessed at $177,900

9 9 TOWNSHIP OF CRANFORD 2004 Tax Increase History Original Proposed Tax Increase: 11.0 Points - $197 Final Tax Increase: 5.75 Points - $100 Based on House Assessed at $177,900 Achieved by Reducing Departments Requests by $525,000 and Anticipating $175,000 in New Revenue

10 10 SUMMARY OF REVENUES ANTICIPATED Difference 1. Surplus Anticipated $1,557,000 $1,645,985 $ (88,985) 2. Miscellaneous Revenues: Local Revenues 1,157,923 1,097,571 60,352 State Aid without Offsetting Appropriations 3,854,116 3,780,330 73,786 Dedicated Uniform Construction Code Fees Offset with Appropriations 567, ,765 78,871 Special Items - Additional Revenues 160, ,592 (79,684) Special Items - Public & Private Revenues 18, ,340 (394,992) Special Items - Other Special Items 295, , ,563 Total Miscellaneous Revenues $6,054,470 $6,191,574 $(137,104)

11 11 SUMMARY OF REVENUES ( continued ) ANTICIPATED Difference 3. Receipts from Delinquent Taxes $ 454,357 $ 553,282 $ (98,925) 4. Subtotal General Revenues 8,065,827 8,390,841 (325,014) 5. Amount to be Raised by Taxes for Support of Municipal Budget Local Tax for Municipal Purposes Including Reserve for Uncollected Taxes 14,398,000 13,464, , Total General Revenues $22,463,827 $21,854,857 $608,970

12 12 TOWNSHIP OF CRANFORD 1. Surplus Anticipated $1,557,000 7% 2. Local Revenues 1,157,923 5% 3. State Aid 3,854,116 17% 4. UCC 567,636 3% 5. Additional Revenues 160,908 1% 6. Public & Private 18,348 0% 7. Other Special Items 295,539 1% 8. Delinquent Taxes 454,357 2% 9. Local Tax 14,398,000 64% TOTAL $22,463, %

13 13 REVENUES ANTICIPATED Difference 1. Surplus Anticipated $1,557,000 $1,645,985 $(88,985) 2. Miscellaneous: Local Revenues Licenses: Alcoholic Beverages 21,665 21, Other 3,324 4,508 (1,184) Fees & Permits 98, ,798 (28,919) Fines & Costs - Municipal Court 330, ,800 16,182 Interest & Costs on Taxes 170, ,297 41,618 Parking Meters 376, ,943 6,170 Interest on Investments & Deposits 84,248 63,069 21,179 2% Gross Revenue on Cable TV 71,807 66,868 4,939

14 14 REVENUES (continued) ANTICIPATED Difference 3. Miscellaneous: State Aid Legislative Initiative Municipal Block Grant - Current Year $ 99,034 $ 99,034 $ -0- Consolidated Municipal Property Tax Relief Aid 1,157,202 1,157, Energy Receipts Tax 2,597,880 2,524,094 73, Miscellaneous: Dedicated Uniform Construction Code Fees Uniform Construction Code Fees 567, ,765 78, Miscellaneous: Special Items - Additional Revenues Offset Conservation Center Fees 120, ,065 15,915 General Capital Fund Balance 39, ,527 (95,599)

15 15 REVENUES ( continued) ANTICIPATED Difference 6. Miscellaneous: Special Items - Public & Private Revenues State Library Construction Grant$ -0- $394,406 $(394,406) Clean Communities 18,348 18,934 (586) 7. Miscellaneous: Other Special Items Uniform Fire Safety Act 73,470 51,958 21,512 NJ Housing Finance Agency - In Lieu of Tax Payments 89,812 88,049 1,763 Cranford Lincoln Assoc. - PILOT 32,257 30,969 1,288 Hotel Tax 50, ,000 Sewer Surcharge 50, ,000

16 16 TOWNSHIP OF CRANFORD 1. Salaries $11,635,356 52% 2. Reserve for Uncollected Taxes1,190,000 5% 3. Insurance3,271,439 15% 4. Debt Service1,250,373 6% 5. Utilities 667,000 3% 6. Capital Improvement Fund 120,000 0% 7. FICA, SUI, Pension 564,690 3% 8. RVSA 779,625 3% 9. Operating Expenses2,985,344 13% TOTAL $22,463, %

17 17 DEPARTMENT BUDGETS Dollar Percent Increase/ Increase/ Budget Budget Decrease Decrease Administration $804,655 $678,947 $125, Legal166, ,129 6, Finance464, ,904 9, Engineering183, ,827 (52,080) (22.08) Building & Grounds825, , , Planning/Zoning149, ,514 25, Police 5,289,404 5,313,448 (24,044) 0.05 Fire 2,835,516 2,703, , Public Works 1,925,6811,824, , Health/Recycling449, ,363 30, Recreation431, ,247 42, Construction Code387, ,575 86, Court245, ,597 16, Library975, , , Insurance 3,049,0272,733, , Clean Communities 18,348 18,934 (586) 0.31 Terminal Pay 40, ,

18 18 DEPARTMENT BUDGETS ( continued ) Dollar Percent Increase/ Increase/ Budget Budget Decrease Decrease Gasoline 115,000 90,000 25, Street Lighting 200, , FICA/SUI 419, ,680 13, Pension 145,297 32, , RVSA 779, ,600 14, Capital 120, ,000 20, Debt Service 1,250,373 1,810,063 (559,690) (44.76) Deferred Charges ,119 (94,588) -0- Reserve for Uncollected 1,190,000 1,190, TOTAL $22,463,827 $21,854,857 $608, %

19 19 HEALTH CARE COST BURDEN Medical - $244,000 Prescription - $79,000 Dental Insurance - $12,000 Health Benefit Cost Increase: $335,000

20 CAPITAL BUDGET PROJECTS ADMINISTRATION/TECHNOLOGY/TV35 1. Technology Upgrades Total$247,834 DEPARTMENT OF PUBLIC WORKS 1. Front End Loader$120, Dump Truck 72, Tar Kettle 9,000 Total$201,500 ENGINEERING 1. Commerce Drive$523, Memorial Field/Centennial Pool Parking 168, Resurfacing Program 270, Storm Sewer Improvements 153, Municipal Building Windows 162, Post Office Plaza Parking 54, Centennial Avenue Business District 256, Municipal Building Elevator 253,825

21 CAPITAL BUDGET PROJECTS (continued) Engineering (continued) 9. Rahway River Desilting 51, Hanson House Garage Roof 5, Walnut Avenue Sidewalks 40,000 Total $1,938,610 FIRE 1. SCBAs $20, Fire House Doors 15, Ventilation System 20,000 Total $55,000 LIBRARY 1. Parks & Recreation Improvements $15,000 Total $15,000

22 CAPITAL BUDGET PROJECTS ( continued) POLICE 1. Supervisors Office$26, Records Storage 10, x 4 Vehicle 30,000 Total$66,000 GRAND TOTAL $2,523,944

23 23 TOWNSHIP OF CRANFORD Analysis of Debt May 1, 2004 BondGreen Total Serial AnticipationAcres Authorized Gross Bonds NotesLoan Not Issued Debt General $9,920,000 $13,067,971 $73,329 $14,017,550 $37,078,850 Swim Pool , , ,000 Total $9,920,000 $13,701,971 $73,329 $14,182,500 $37,877,850 T otal Debt Allowed$91,576,227 Less Net Debt* 37,078,850 Remaining Borrowing Power$54,497,377 * Swim Pool Debt Not Included

24 24 POTENTIAL FUTURE BUDGET INCREASES Employee & Retiree Health Benefits Liability & Other Insurances PERS & PFRS Pension Bills RVSA Bill - Sewerage Treatment Facility Capital Improvements Amount to be Raised by Taxation Due to Uncertainty of State Aid Allotments LOSAP Permanent Financing of Major Capital Projects

25 25 TOWNSHIP OF CRANFORD 2004 Budget Initiatives Grants: Federal: - Federal Fire Act State: - DEP Livable Communities - Safe Street to Schools - DOT Transportation Enhancement County: - Kids Recreation Trust Redevelopment Initiatives: - Cranford Crossing, Riverfront Development, Other

26 Budget Initiatives (continued) Change in Methodology - In-House Capital Project Engineering Costs Comprehensive Health Care Cost Review Township Committee Revenue Initiatives: - General Review of User Fees - Parking Rate Structure Review - Non Residential Sewerage Charges - User Assessment Fees - Planning & Zoning Fees - Large Project Escrow


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