1. Town of New Castle 2014 Budget Presentation

2. What is the Tax Cap? Amount the Town is permitted to raise taxes. The Town Board can vote to override the cap. Amount the Town is permitted to raise taxes. The Town Board can vote to override the cap. In the 3 rd year of the cap, the Town of New Castle has never needed to override the cap. In the 3 rd year of the cap, the Town of New Castle has never needed to override the cap. Lesser of 2% or the rate of inflation Lesser of 2% or the rate of inflation 1.66% was used for the 2014 budget. 1.66% was used for the 2014 budget. Also used in the calculation is a “tax rate growth factor”. This varies by municipality, and changes yearly based on projected tax roll changes. Also used in the calculation is a “tax rate growth factor”. This varies by municipality, and changes yearly based on projected tax roll changes. 1.0041 was used for the 2014 budget for the Town of New Castle. 1.0041 was used for the 2014 budget for the Town of New Castle. Applies to the tax levy (total amount of taxes collected), not the tax rate (amount per $1,000 of assessed value) Applies to the tax levy (total amount of taxes collected), not the tax rate (amount per $1,000 of assessed value)

3. Calculating the Tax Cap for the 2014 Budget:

4. 2014 All Funds Appropriation Breakdown $36,850,686 2014 All Funds Appropriation Breakdown $36,850,686

5. 2014 Budget Summary

6. 2014 Revenue Breakdown General, Highway, Water & Refuse Funds $35,248,051

7. Key Revenue Sources General Fund General Fund County Sales Tax - $2,325,000 County Sales Tax - $2,325,000 NYS Mortgage Tax - $950,000 NYS Mortgage Tax - $950,000 Commuter Parking Fees - $775,000 Commuter Parking Fees - $775,000 Building Permits - $490,000 Building Permits - $490,000 Summer Camps - $486,000 Summer Camps - $486,000 Concession Income - $405,000 Concession Income - $405,000 Highway Fund Highway Fund State Aid (CHIPS) - $220,000 State Aid (CHIPS) - $220,000 Refuse Fund Refuse Fund Compost & Mulch Sales - $130,000 Compost & Mulch Sales - $130,000 Yard Waste - $80,000 Yard Waste - $80,000 Water Fund Water Fund Water Sales - $5,803,037 Water Sales - $5,803,037

8. 2014 Expenditure Breakdown General, Highway, Water & Refuse Funds $35,248,051

9. Key Expenditures Highway Fund Highway Fund Road Paving - $400,000 Road Paving - $400,000 Salaries (Snow Removal) - $175,000 Salaries (Snow Removal) - $175,000 Salt - $175,000 Salt - $175,000 Gasoline/Diesel - $69,000 Gasoline/Diesel - $69,000 Road Maintenance Materials - $50,000 Road Maintenance Materials - $50,000 Refuse Fund Refuse Fund Refuse Collection - $1,752,000 Refuse Collection - $1,752,000 Transfer Site Charges - $485,000 Transfer Site Charges - $485,000 Water Fund Water Fund Cost of Water - $1,460,561 Cost of Water - $1,460,561 Water Plant Operations – $835,275 Water Plant Operations – $835,275 Electricity - $308,214 Electricity - $308,214 Chemicals - $105,616 Chemicals - $105,616

10. Key Expenses Factors Affecting All Funds Factors Affecting All Funds Employee Benefits Employee Benefits Health Insurance - $4,138,092 Health Insurance - $4,138,092 NYS Retirement - $2,668,696 NYS Retirement - $2,668,696 Workers Compensation - $987,939 Workers Compensation - $987,939 Debt Payments - $2,821,490 Debt Payments - $2,821,490 Legal Expenses - $394,114 Legal Expenses - $394,114 MIS Costs - $290,203 MIS Costs - $290,203 Telephone/Data Services - $115,080 Telephone/Data Services - $115,080

11. 2013 vs 2014 Average Tax Bill (Assuming Town Water, Refuse, Fire Protection, and Ambulance)

12. Cost of Services Average Assessed Value $171,405 Average Tax Bill $2,406