2007 Borough Budget Budget Introduction Public Forum Public Hearing, possible adoption

Budget Process Review Each year the Borough goes through a 7 step process to create the budget. Information Gathering Department Requests Financial Projections Review & Discussion Public Presentation and initial Approval Auditor Review & State DCA Approval Public Hearing and Adopting

Revenue Breakdown Revenue Sources Taxes State Aid Miscellaneous Revenue Grants (offset by appropriations) Surplus Funds, from prior years

5 Year Revenue Comparison Surplus 2,810,5002,301,8112,330,4002,257,4052,300,000 Misc. Revenue 913, , , , ,500 State Aid 1,320,8421,428,767 1,428,768 Delinquent Tax 300,000 This chart does not include grant funds for individual years.

Revenue Breakdown (Using 2007 data)

Revenue Issues & Changes Stagnant State Aid. Increase in existing anticipated without new types of revenues eliminates renewal of fund balance (surplus). Increased Parking Meter and Permits fees. Created Historic Preservation Fees. Increased sign application fees. Each of these fees were increased to help offset the cost associated with implementation of the programs.

Changes to the Budget in 2007 SUMMARY 2006 Budget 2007 Introduced Increase/ Decrease Dept. of Public Safety3,529,3423,604,10574,763 Dept of Revenue & Finance734,2502,380,0971,645,847 Dept of Public Works2,620,3362,769,290148,954 Unclassified Inside Caps258,847248,067 Unclassified Outside Caps3,857,3232,770,168 Grants171,343190,97819,635 Res. For Uncollected Taxes1,079,6671,137,15457,487 TOTAL BUDGET12,251,10813,099,859848,751

Top 12 increased budget lines 1. Capital Projects$ 370, Police & Fire Retirement Pension$ 104,687 * 3. Health Insurance$ 98,085 * 4. Shade Tree Salary & Wage$ 70, Reserve for Uncollected Taxes$ 57,487 * 6. Public Employees Pension$ 51,378 * 7. Police Salary & Wage$ 46, Solid Waste Disposal Costs$ 37,500 * 9. Vehicle Repairs OE$ 33, Streets & Roads Salary & Wage$ 23, Workman’s Compensation$ 21,462 * 12. Streets & Roads OE$ 21,350 Total$ 935,872 Actual Budget Increase 848,751 * Untouchables

Salary & Benefits Percentage Salary & Wage4,572,0174,689, % Pension228,020384, % Health Benefits1,192,0001,290, % Totals5,992,0376,363,615 Overall increase between 2006 & 2005 $371, %

Appropriations Breakdown Nondiscretionary Appropriations Salaries (unless layoffs are proposed) Employment Taxes & Benefits Debt Payments Outsourced Service Contracts Discretionary Appropriations Departmental Expense Budgets

Appropriation Breakdown (Using 2007 data)

5 Year Comparison of Appropriations (without capital, debt or grants) Operating Budget Dept. of Public Safety3,023,0503,027,9003,594,8253,529,3423,604,105 Dept of Revenue & Finance1,655,620676,500739,150734,2502,380,097 Dept of Public Works2,342,1202,400,0002,584,4742,620,3362,769,290 Unclassified Inside Caps380,252294,275321,521258,847248,067 Unclassified Outside Caps829,6902,360,3732,530,2252,707,1231,379,968 Res. For Uncollected Taxes1,001,7101,068,634931,6411,079,6671,137,154 TOTAL BUDGET9,232,4429, ,701,83610,929,55911,518, health benefits and insurance were listed in Dept of Revenue and Finance. These items were moved outside cap by the legislature in 2004 and back in cap in 2007.

Capital Plan ProjectTotal Project Cost Capital Imp. Fund Amount to Be Financed Other Sources of Funds Parking Improvements20,000 Drainage Issues300,00015,000285,0000 Sump Pump Removal/ Storm water Study 15, ,2500 Digital Topographic Mapping Study 90,0004,50085, Road Program1,000,00025,000475,000500,000 State Aid -Mt. Vernon Ave257,0005,25099,750152,000 Additional Recreation Improv.524,50026,225498,2750 Purchase PW Vehicles & Equip.186,0009,300176,7000 Kings Court Reconstruction400,00020,000380,0000 Borough Hall Improvements100,0005,00095,0000

Long Range Road Program It is the intent to fully fund a road maintenance program over the next 5 – 7 years. YearCash AmountBonded Amount% Increase in Taxes ,500807, % ,000475, % ,000310, % ,000152, % 20101,000, % 20111,000,00000% In 2006 the Commissioners budgeted $150,000 plus 5% down payment. The original intent was to budget $200,000 additional funds each year for 5 years. In 2007 the Commissioners were able to take advantage of a decrease in debt service to increase the cash portion of the road program. This will enable them to still achieve the road program in 5 years with less increase in the remaining 3 years.

Tax Calculation Formula (Using 2007 data) Total Appropriations$13,099,859 minus Anticipated Revenue$ 5,104,246 equals Local Purpose Tax$ 7,995,613 divided by Total Assessed Value$1,038,939,743 equals Local Tax Rate $ per $100 assessed value

Cost per Average Assessment Average House is Assessed at $110,000 $ Local Tax $ Increase Average House is Assessed at $220,000 $1, Local Tax $ Increase Average House is Assessed at $330,000 $2, Local Tax $ Increase

Questions ? All questions will be recorded. Written answers will be provided Power Point presentation, questions & answers will all be placed on the municipal web site Formal public hearing is set for the Commissioners meeting of Feb. 27 at 7:30