City of South Burlington FY12 Budget Update Sandy Miller, City Manager Bob Rusten, Assistant City Manager January 18, 2011.

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Presentation transcript:

City of South Burlington FY12 Budget Update Sandy Miller, City Manager Bob Rusten, Assistant City Manager January 18, 2011

Summary of Proposed FY12 Budget Tax rate proposed as 1.92 cent increase, from $ to $ For condo at $208,000 = $39.94 annually For primary residence at $316,000 = $60.67 annually Per $100,00 assessed valuation = $19.20 annually Water proposed increase = $22.15 annually Stormwater proposed increase = $17.28 annually Wastewater proposed increase = $78.18 annually Total Increase $208,000 = $ annually or $13.13 per month Primary $316,000 = $ annually or $14.85 per month

Key Cost Indicators Reduction of 9.7 FTEs Total Wages, all funds, are down $68,763, from $7,956,178 in FY11 to $7,899,415, which reflects $50k in additional costs due to SAFER, and $238,000 in wage adjustments for a total savings of $358,000 over what our wages would have been without staffing reductions. Total Health Insurance Costs are down 22%, from $1,377,418 (not counting the 1/1/11 increase of 7.5%), to $1,075,620, a reduction of $301,798. Factoring in the 7.5%, our savings are over $400,000. Total Pension Plan Costs increased $207,363, or 14.53%, from $1,427,487 in FY11 to $1,634,850 FY12 (including savings due to some switches to VMERS). Comparing FY12 budget figures to what was actually spent in FY10, the figure is an increase of $373,000.

Further Cost Saving Ideas Continue to try to move staff from SB’s pension plan to VMERS Re-bidding health insurance again in Possible financing pension liability. Bidding various municipal services. Looking for additional revenues and cost savings. Asking employees and bargaining units for their suggestions.

Other Issues to Note Restructure Airport Parkway wastewater expansion project by financing additional $2.5 million – voter approval needed. Restructuring internal financial operation and management. Audit report due in March. Projected fee increases for planning, highway and ambulance are being used to lessen the property tax increase. General Fund, Water, Stormwater and Water Pollution Control budgets for FY12 expected to be on a balanced or surplus basis.