CY 2011 Budget Presentation Nick Trasente

8/7/2019 CY 2011 Budget Presentation Nick Trasente

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City of HobokenCity of Hoboken

CY 2011CY 2011

Introduced Municipal & Introduced Municipal &

Parking Utility BudgetParking Utility Budget



SFY 2011 Budget SummarySFY 2011 Budget Summary

APROPRIATIONSAPROPRIATIONS

Operations:Operations:

Within CAPS $83,587,271Within CAPS $83,587,271

Total S&WTotal S&W $37,645,600$37,645,600

Total O.E.Total O.E. $35,183,141$35,183,141

Statutory Expenditures $10,734,812Statutory Expenditures $10,734,812

Outside Cap $14,842,225Outside Cap $14,842,225

Capital Improvements $ 250,000Capital Improvements $ 250,000

Municipal Debt Service $6,302,805Municipal Debt Service $6,302,805

Total Deferred Charges $1,978,102Total Deferred Charges $1,978,102

Judgments $400,000Judgments $400,000Reserve For Uncollected TaxesReserve For Uncollected Taxes $3,292,369$3,292,369

Total General Appropriations $101,721,865Total General Appropriations $101,721,865

REVENUESREVENUES

Surplus Anticipated $9,585,000Surplus Anticipated $9,585,000

Miscellaneous Revenues:Miscellaneous Revenues:

Local Revenue $22,646,749Local Revenue $22,646,749

State Aid $11,113,035State Aid $11,113,035

UCC Fees $683,500UCC Fees $683,500

Other Special RevenueOther Special Revenue $2,563,202$2,563,202

Total Miscellaneous RevenueTotal Miscellaneous Revenue $37,665,313$37,665,313

Subtotal General Revenue $47,643,623Subtotal General Revenue $47,643,623

Amount To Be Raised by TaxesAmount To Be Raised by Taxes $54,078,242$54,078,242

Total General Revenues $101,721,865Total General Revenues $101,721,865



What Does This Budget DoWhat Does This Budget Do

Reduces the Amount To Be Raised by 5.17% From TY10 and 9.91%Reduces the Amount To Be Raised by 5.17% From TY10 and 9.91%From FY10 While:From FY10 While:

Including 4 Year Salary Settlement with PBA and SOA including ReIncluding 4 Year Salary Settlement with PBA and SOA including RetrotroPayPay

Absorbing $1,288,446 or 17.6% Increase to PensionAbsorbing $1,288,446 or 17.6% Increase to Pension

Absorbing an Increase in General Liability and Health Benefits oAbsorbing an Increase in General Liability and Health Benefits of Overf Over$2 Million or 11%$2 Million or 11%

Including Amounts for Reserve for Uncollected Taxes, Tax AppealsIncluding Amounts for Reserve for Uncollected Taxes, Tax Appeals, PY, PYEmergency Appropriations Not in FY10 equaling $5,127,369Emergency Appropriations Not in FY10 equaling $5,127,369

Including a Reduction in Debt Service of $2,357,000.00 from FY10Including a Reduction in Debt Service of $2,357,000.00 from FY10

Reduction In Total Salaries by $2,895,000 (approximately $4 millReduction In Total Salaries by $2,895,000 (approximately $4 millionioninclusive of retroactive pay) from FY10inclusive of retroactive pay) from FY10

Absorbing a Reduction of State Aid of $3,400,000 from FY10Absorbing a Reduction of State Aid of $3,400,000 from FY10



Cost DriversCost Drivers

Retroactive Pay $3,000,000Retroactive Pay $3,000,000

Health Care Cost $1,640,000Health Care Cost $1,640,000

Pension Increase $1,288,446Pension Increase $1,288,446

Deferred Charges $1,954,393Deferred Charges $1,954,393

Salary Settlements $1,300,000Salary Settlements $1,300,000

Decrease in State Aid $3,400,000Decrease in State Aid $3,400,000



Surplus AnalysisSurplus Analysis

Total Surplus $25,422,135.79Total Surplus $25,422,135.79

Less:Less:

Due From State Senior/Vet Deduction 27,152.35Due From State Senior/Vet Deduction 27,152.35

Deferred Charges 6,8Deferred Charges 6,812,569.8612,569.86

State Aid ReceivableState Aid Receivable 3,864,299.503,864,299.50

Cash Surplus Available for Use $14,718,114.08Cash Surplus Available for Use $14,718,114.08

Less:Less:Amount Used For BudgetAmount Used For Budget 9,585,000.009,585,000.00

Surplus Balance for Bond Rating $5,133,114.08Surplus Balance for Bond Rating $5,133,114.08



Surplus Used In BudgetSurplus Used In Budget

Surplus to Reduce Taxes (Regenerates) 4,250,000.00Surplus to Reduce Taxes (Regenerates) 4,250,000.00

Salary Settlement (RetroSalary Settlement (Retro--One Time) 3,000,000.00One Time) 3,000,000.00

Tax Appeals (Limited Time) 1,500,000.00Tax Appeals (Limited Time) 1,500,000.00

PY Emergency Appropriation (One Time) 335,000.00PY Emergency Appropriation (One Time) 335,000.00

Salaries for Retirees (One Time) 300,000.00Salaries for Retirees (One Time) 300,000.00

Capital Improvement FundCapital Improvement Fund

(Capital Infrastructure)(Capital Infrastructure) 200,000.00200,000.00

Total Surplus Used in Support of Municipal BudgetTotal Surplus Used in Support of Municipal Budget::

$9,585,000.00$9,585,000.00



Discretionary Spending AnalysisDiscretionary Spending Analysis

Total Budget $101,7Total Budget $101,721,86521,865

Non DiscretionaryNon Discretionary

Deferred Charges $1,978,102Deferred Charges $1,978,102

Debt Service $6,302,Debt Service $6,302,805805

Pension $8,59Pension $8,594,6724,672

Salary & Wages $37,645,600Salary & Wages $37,645,600

Statutory Obligations $1,856,540Statutory Obligations $1,856,540

Health Benefits/other Insurance $17,054,246Health Benefits/other Insurance $17,054,246

Salary Settlements & Adjustments $4,300,000Salary Settlements & Adjustments $4,300,000

Library $3,Library $3,414,730414,730

Other $7,Other $7,414,840414,840

Reserve For Uncollected TaxesReserve For Uncollected Taxes $3,292,369$3,292,369

Total Non Discretionary $91,853,904Total Non Discretionary $91,853,904

Discretionary Spending $9,867,961Discretionary Spending $9,867,961



3 Year Budget Appropriations History3 Year Budget Appropriations History



2011 vs. 2010 Budget Revenue2011 vs. 2010 Budget Revenue

ComparisonComparison



Salary & Wage by DepartmentSalary & Wage by Department



Comparison of Department CostComparison of Department Costto Total Budgetto Total Budget



Salary & Wages vs. AllSalary & Wages vs. All

AppropriationsAppropriations

CY 2011 Budget Presentation Nick Trasente

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