2013 Budget Town Hall Meetings

April 18, 2013 & April 19, 2013

Presented by: David Barnett, Finance Committee Chair

David Amlen, Mayor

Township of Springfield

•  Local, 32% •  County, 19% •  Schools, 49%

Property Tax Breakout*

Local   County   Schools  

*2013 Estimate, Not certified as of 4/18/2013

 

•  Deliver a local budget that minimizes the tax burden on the resident

•  Develop new revenue streams •  Maintain or improve current levels of services •  Protect funding for PUBLIC SAFETY •  Prevent layoffs or furloughs •  Control departmental spending •  No new full-time hires •  Maintain healthy surplus to support bond rating,

extraordinary events and the 2014 budget

Budget Objectives

TAX INCREASE per AVG HOUSEHOLD*

0.18% = $5.85

Appropriations

2013 $ 29,713,758 2012 $ 29,329,096

Increase $384,662

*Local Only  

Appropriations – Break Out

2013 2012 % ch OPERATING EXPENSES $18,752,437 $18,530,450 1.2%

WAGES $10,961,321 $10,798,646 1.5%

TOTAL $29,713,758 $29,329,096 1.3%

Revenue

2013 (Budget) 2012 (Budget)

Surplus Anticipated $ 2,995,404 $ 2,893,406 Local Revenues $ 761,001 $ 774,000 State Aid $ 1,753,357 $ 1,753,357 Construction Code Fees $ 215,000 $ 50,000 Inter-local Agrmt BOE $ 100,000 $ 100,000 Grant Money $ 32,997 $ 80,603 Other Revenue $ 718,900 $ 620,000 Delinquent tax $ 630,000 $ 676,000 FEMA SANDY $ 100,000 n/a General Revenues $ 7,306,659 $ 6,947,367 Library Tax $ 898,504 $ 943,012 Local Municipal Tax $ 21,508,596 $ 21,438,717 Total General Revenue $ 29,713,758 $ 29,329,096

Top 10 Expenses 2013 2012 %

Medical Insurance $3,813,553 $3,431,596 11.1% RVSA Sewer $2,250,500 $2,084,251 7.9% Police & Fire Retirement $1,387,900 $1,359,055 2.1% Bond Principal $1,210,000 $1,210,000 0.0% Library $1,023,600 $1,093,581 -6.4% Reserve Uncollected Tax $1,000,000 $1,000,000 0.0% Red Light Camera $456,000 n/a n/a BAN Principal $710,000 $322,857 119.9% Insurance Liability $495,479 $480,500 3.1% Public Employee Retirement $475,810 $503,787 -5.6%

TOTAL $12,822,842 $11,485,627 11.6%

•  Passaic River Litigation – $95,000 Settlement •  Super Storm Sandy cost the town about $650,000.

About $252,000 must be absorbed by the town a portion of the remainder is expected from FEMA

•  The Red Light Camera is anticipated to generate $656,000 in total revenue yielding $200,000 in net revenue. The cost to the Township is $456,000

•  A Bond Anticipation Notes (BAN) principal payment of $710,000 is planned. This payment will reduce the Town’s debt as well as future expenses.

2013 Special Expenses

•  $2,600,000 has been earmarked for capital improvements –  New Road Paving and Improvements –  Dike and Flood Prevention Upgrades –  Sewer Improvements –  Storm Preparedness –  Chisholm Senior & Recreation Center Restoration –  Pool Filter Replacement –  New Police and Fire Equipment –  Continue Downtown Redevelopment Efforts

Capital Improvements

•  Initial objective to control taxes and minimize any increase to the residents

•  2013 budget is very close to 2012 levels •  $5.85 (0.18%) increase per average household for

the year [ local tax only] •  No reduction current township services •  Despite $650,000 in expenses from Sandy, the

budget increase is minor •  Increases efficiencies that will benefit the Town in

2014 •  Maintains strong surplus for extraordinary events

bond rating and 2014 budget

Summary