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Published byJuniper Alexander Modified over 8 years ago
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WINFIELD TOWNSHIP 2016 BUDGET 2016-2022 CAPITAL IMPROVEMENT PLAN
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Budget Overview Total expenses: $662,979.00 Public works: $319,260.00 Stormwater: $20,000.00 Capital purchases: $37,000.00 Administrative: $124,099.00 Public safety: $31,300.00 Capital improvement fund: $25,000.00 Operating Reserve: $10,000.00 Total revenues: $663,141.00
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Revenues Property Tax, Earned Income Tax, Local Service Tax, and Cable Franchise Fee Property Tax Rate Proposed 5 mills (increase of 2 mills) will generate $136,610.00 (increase of +$50,000.00) What is a Mill? $1.0 for every $1,000.00 in assessed value. In Winfield 1 Mill (on average) equals approx. $20.00 per year per tax card (this varies on assessed value). 1 Mill generates approx. $27,000.00 for the Township
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Expenses Notables increases Stormwater: $20,000.00. up from $8,000.00 Equipment Maintenance: $20,000.00. up from $10,000.00 Snow removal materials: $80,000.00 + $10,000.00 from L.F.. Up from $75,000.00 Capital Purchases: $37,000.00. Up from $5,410.00. Pick-up truck replacement HTC and moon paver
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Capital Improvement Plan Purpose: Allows for the systematic evaluation of all potential capital projects and purchases Smooth out the ‘spike’ that will often occur as a result of these one time purchases Tool to allow the public to better understand the vision for the Township as well project priorities. Project revenues vs. expenditures further out than a1-year budget Consistency with the comprehensive plan
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Capital Improvement Plan Funding Source Regularly scheduled transfers from the General Fund Years 1-5 (2016-2020) $25,000.00 Year 6 (2021): $35,000.00 Year 7+ (2022 +): $45,000.00 Increase come as current debt obligations mature
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Capital Improvement Plan More than just buying new equipment Stormwater projects 2016: Jones Road (holl to stargrille), Cornplanter Road, Marwood Road, and Helmbold Ave. Increase in funding for purchases will allow for more road maintenance projects because less money will go toward debt payments in the future. Ability to ‘piggy-back’ projects with other municipalities/ PennDot. Ability to outsource larger scale projects Aids in building up an operating reserve
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