2007 Borough Budget

1-23-07 Budget Introduction2-12-07 Public Forum2-27-07 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

2003 2004 2005 2006 2007Surplus 2,810,50

02,301,811

2,330,400

2,257,405

2,300,000

Misc. Revenue 913,682

641,008

734,000

784,500

884,500

State Aid 1,320,842

1,428,767

1,428,767

1,428,768

1,428,768

Delinquent Tax 300,000

300,000

300,000

300,000

300,000

This chart does not include grant funds for individual years.

Revenue Breakdown(Using 2007 data)

Delinquent Taxes2% Surplus

Appropriated18%

Misc. Revenue7%Amount to be

Raised by Taxation

61% State Aid11%

Grants1%

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 Safety 3,529,342 3,604,105 74,763

Dept of Revenue & Finance 734,250 2,380,097 1,645,847

Dept of Public Works 2,620,336 2,769,290 148,954

Unclassified Inside Caps 258,847 248,067 <10,780>

Unclassified Outside Caps 3,857,323 2,770,168 <1,087,155>

Grants 171,343 190,978 19,635

Res. For Uncollected Taxes 1,079,667 1,137,154 57,487

TOTAL BUDGET 12,251,108 13,099,859 848,751

Top 12 increased budget lines1. Capital Projects $ 370,000 2. Police & Fire Retirement Pension $ 104,687 *3. Health Insurance $ 98,085 *4. Shade Tree Salary & Wage $ 70,5005. Reserve for Uncollected Taxes $ 57,487 *

6. Public Employees Pension $ 51,378 *7. Police Salary & Wage $ 46,173

8. Solid Waste Disposal Costs $ 37,500 *9. Vehicle Repairs OE $ 33,75010. Streets & Roads Salary & Wage $ 23,50011. Workman’s Compensation $ 21,462 *12. Streets & Roads OE $ 21,350Total $ 935,872Actual Budget Increase 848,751

* Untouchables

Salary & Benefits

2006 2007 Percentage

Salary & Wage 4,572,017 4,689,445 2.57%

Pension 228,020 384,085 6.84%

Health Benefits 1,192,000 1,290,085 8.23%

Totals 5,992,037 6,363,615

Overall increase between 2006 & 2005 $371,578 6.2%

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)

Public Works20%Library

7%

Health Benefits

10%

Grants1%

Debt Service6%

Soc. Sec.2%

Capital5%

Pension3%

Casualty Ins.3%

Public Safety27%

Revenue & Finance

6%

Res for Uncollected

9%

Def. Charge1%

5 Year Comparison of Appropriations(without capital, debt or grants) Operating Budget

2003 2004 2005 2006 2007

Dept. of Public Safety 3,023,050 3,027,900 3,594,825 3,529,342 3,604,105

Dept of Revenue & Finance 1,655,620 676,500 739,150 734,250 2,380,097

Dept of Public Works 2,342,120 2,400,000 2,584,474 2,620,336 2,769,290

Unclassified Inside Caps 380,252 294,275 321,521 258,847 248,067

Unclassified Outside Caps 829,690 2,360,373 2,530,225 2,707,123 1,379,968

Res. For Uncollected Taxes 1,001,710 1,068,634 931,641 1,079,667 1,137,154

TOTAL BUDGET 9,232,442 9,827682 10,701,836 10,929,559 11,518,681

2003 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

Project Total ProjectCost

Capital Imp.Fund

Amount toBe

Financed

Other Sources of

Funds

Parking Improvements 20,000 20,000

Drainage Issues 300,000 15,000 285,000 0

Sump Pump Removal/ Storm water Study

15,000 750 14,250 0

Digital Topographic Mapping Study

90,000 4,500 85,500 0

2007 Road Program 1,000,000 25,000 475,000 500,000

State Aid -Mt. Vernon Ave 257,000 5,250 99,750 152,000

Additional Recreation Improv.

524,500 26,225 498,275 0

Purchase PW Vehicles & Equip.

186,000 9,300 176,700 0

Kings Court Reconstruction 400,000 20,000 380,000 0

Borough Hall Improvements 100,000 5,000 95,000 0

Long Range Road ProgramIt is the intent to fully fund a road maintenance program over the next 5 – 7 years.

Year Cash Amount Bonded Amount % Increase in Taxes

2006 192,500 807,500 2.92%

2007 525,000 475,000 2.96%

2008 690,000 310,000 2.22%

2009 848,000 152,000 2.05%

2010 1,000,000 0 2.05%

2011 1,000,000 0 0%

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 $0.7696

per $100 assessed value

Cost per Average Assessment

Average House is Assessed at $110,000$ 847.00 Local Tax

$ 66.00 Increase

Average House is Assessed at $220,000$1,693.00 Local Tax

$ 133.00 Increase

Average House is Assessed at $330,000$2,540.00 Local Tax

$ 199.00 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

www.haddonfieldnj.org Formal public hearing is set for the

Commissioners meeting of Feb. 27 at 7:30