Budget Presentation 2009 Budget Presentation 2009 City of Cohoes November 6, 2008 Van Schaick Neighborhood Watch
Budget / Finance Guidelines Expenditures Limit Public Safety Expenditure Increases to Inflation Limit Public Safety Expenditure Increases to Inflation No New Benefits No New Benefits Keep Services Expenditure Increases to Below Inflation Keep Services Expenditure Increases to Below InflationRevenues Minimize Property Tax Increases Minimize Property Tax Increases Conservative Revenue Estimates Conservative Revenue Estimates Fund Balance/Future Planning Fund Balance/Future Planning Continue to Build Fund Balance to 5% Target to Improve Bond Rating and Protect against Rainy Days Continue to Build Fund Balance to 5% Target to Improve Bond Rating and Protect against Rainy Days
Budget 2009 Revenues No proposed increases in major revenue accounts No proposed increases in major revenue accounts Minimum increase in sales tax Minimum increase in sales tax Mortgage tax decreasing with fewer sales and refinancing Mortgage tax decreasing with fewer sales and refinancing No increase in State Aid expected No increase in State Aid expected
Budget 2009 General Fund 12% Increase in Health Insurance in % Increase in Health Insurance in 2009 No increase in State aid projected No increase in State aid projected No layoffs of City workforce No layoffs of City workforce Dealing with Current Issues Increasing Energy Costs Increasing Energy Costs Increasing Fuel Costs Increasing Fuel Costs Increasing Rock Salt Costs Increasing Rock Salt Costs
General Fund
Annual Energy Costs
Budget 2009 General Fund 2.81 % Tax Rate Increase 2.81 % Tax Rate Increase Average home ($80,000 assessed) increase $36.00 in City Taxes Average home ($80,000 assessed) increase $36.00 in City Taxes Decrease 1.5 FTE positions in City Hall Decrease 1.5 FTE positions in City Hall
Water Fund 8% Rate increase ($12/Qtr for average user) 8% Rate increase ($12/Qtr for average user)
Water Fund
Decreasing Water Usage
Water Fund cost drivers Decreasing water use Decreasing water use Increased chemical cost Increased chemical cost Increased energy cost Increased energy cost Dept. of Health and EPA mandates Dept. of Health and EPA mandates Debt Service Debt Service
Sewer Fund 8% Rate Increase ($12/Qtr for average user) 8% Rate Increase ($12/Qtr for average user)
Sewer Fund
Albany County Sewer District Charges
Sewer Fund Cost Drivers Albany County Sewer District charges Albany County Sewer District charges MS4 mandates MS4 mandates Long Control Plan study - $100,000 Long Control Plan study - $100,000 Pump Station Improvements Pump Station Improvements
Overall Budget Total Budget is $21,600,559 over all Funds Total Budget is $21,600,559 over all Funds General Fund$17,570,271 Water Fund$1,917,661 Sewer Fund$2,112,627 Increase expenses of $625,953 or 2.90% Increase expenses of $625,953 or 2.90% General Fund $561,826 or 3.30% Water Fund $41,654 or 2.20% Sewer Fund $22,473 or 1.1% CPI-U = 5.6% for 2008 CPI-U = 5.6% for 2008
Budget Conclusions There are obstacles to overcome There are obstacles to overcome Projections are conservative Projections are conservative Continued concern of impact on the taxpayers vs. the cost to provide services with an eye towards the current and future financial condition of the City. Continued concern of impact on the taxpayers vs. the cost to provide services with an eye towards the current and future financial condition of the City. The budget process is an ongoing process and this is just the start. The budget process is an ongoing process and this is just the start.
Budget Vote Tuesday Nov 11th at 7pm Tuesday Nov 11th at 7pm Common Council Chambers Common Council Chambers