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Township of Lawrence

Township of Lawrence. 2007 Municipal Budget. Mayor Gregory Puliti Council Members Mark Holmes Richard Miller Pamela Mount Michael Powers. March 26, 2007. TOWNSHIP OF LAWRENCE. 2007 Municipal Budget Expenditures. Management & Finance 2,013,829

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Township of Lawrence

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  1. Township of Lawrence 2007 Municipal Budget Mayor Gregory Puliti Council Members Mark Holmes Richard Miller Pamela Mount Michael Powers March 26, 2007

  2. TOWNSHIP OF LAWRENCE 2007 Municipal Budget Expenditures • Management & Finance 2,013,829 • Public Safety 11,785,934 • Public Works* 6,178,572 • Other Operations ** 6,118,581 • ELSA 3,930,000 • Debt Service & Capital Improvements 4,219,071 • Reserve for Uncollected Taxes 4,020,257 Total 38,266,244 *Public Works: Admin, Streets & Roads, Snow, Vehicle Maintenance, Buildings & Grounds, Park Maintenance, Garbage & Trash Disposal **Operations: Recreation and Community Programs, Health, Community Development, Boards/Committees, Municipal Court, Utilities and Deferred Charges

  3. TOWNSHIP OF LAWRENCE 2007 Municipal Budget Expenditures

  4. TOWNSHIP OF LAWRENCE Changes in 2007 Budgeted Appropriations Appropriation Increase/Decrease Reason • Salaries $507, 000 Labor Contract Settlement • Pensions 442,000 Increase in Contribution Rate • Health Benefits (130,000) Retires to Medicare • Apartment Complex Trash Collection 120,000 Increase in Participation • Trash Collection 87,000 Contract Increase • Utilities 60,000 General Increases • Capital Improvement Fund (75, 000) Decrease in Capital Expenses • Debt Service 50,000 Interest on Notes • Deferred Charges (96,000) Non-Recurring Expense • Park Maintenance (140,000) Charge to Open Space Trust • Reserve for Uncollected Taxes 158,000 Increase in Amount to be Raised

  5. TOWNSHIP OF LAWRENCE 2007 Municipal Budget Revenues • Local Non-tax Revenues 3,344,279 • Sewer Charges 4,320,000 • State/Federal Revenues 5,643,410 • Tax-Prior Years 768,000 • Surplus 6,133,000 • Tax-Current Year 18,057,555 • Total 38,266,244

  6. TOWNSHIP OF LAWRENCE 2007 Municipal Budget Revenues

  7. TOWNSHIP OF LAWRENCE 2007 Taxpayer Impact • 2007 Local Tax Rate change from $.65 to $.67 per $100 of assessed value • Residential property at the average 2007 assessed value of $164,400 will see an increase of $32.88 or $2.74 per month • Resulting in a municipal property tax for 2007 of $1,101.48 compared to 2006 of $1,068.60

  8. TOWNSHIP OF LAWRENCE Tax Rates – Annual Change in Dollars 2002-2006 2002 2003 2004 2005 2006 Dollar Change County Tax .66 .68 .73 .83 .80 .14 Library Tax .07 .07 .07 .07 .07 .00 County Open Space Tax .02 .02 .03 .05 .05 .03 District School Tax 1.57 1.67 1.82 1.96 2.05 .48 Municipal Purpose Tax .51 .52 .56 .62 .65 .14 Municipal Open Space Tax .03 .03 .03 .03 .03 .00 General/Total Tax Rate 2.86 2.99 3.24 3.56 3.65 .79

  9. TOWNSHIP OF LAWRENCE Tax Rates Dollar Change 2002-2006

  10. TOWNSHIP OF LAWRENCE 2007 Per Capita Analysis (Population 31,401) Expenditures Management & Finance $ 64 Public Safety 375 Public Works 197 Other Operations 195 ELSA 125 Debt Service & Capital Improvements 134 Reserve for Uncollected Taxes 128 Total 1219 Revenue Tax Revenue $ 575 Total Outstanding Debt 12/31/06 $1361

  11. TOWNSHIP OF LAWRENCE Authorized and Retirement of Debt (in thousands) 20022003200420052006 Issued 38,040 34,699 35,426 31,946 36,392 ANI 6,670 7,372 7,534 9,383 6,340 Ratio 1.624% 1.364% 1.217% 1.039% .949% Authorized 2,720 2,000 4,550 3,170 2,742 Principal Pmt 3,144 3,292 3,274 3,480 3,321

  12. TOWNSHIP OF LAWRENCE Authorized and Retirement of Debt (in thousands)

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