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Mayor’s Budget

Mayor’s Budget. 2015. Budget Funds. All Funds: $55,213,096 Municipal Lighting Department Water Fund Sewer Fund Parking Special Assessment District Library Fund Recreation Fund General Fund. Municipal Lighting. Separate from all other funds

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Mayor’s Budget

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  1. Mayor’s Budget 2015

  2. Budget Funds • All Funds: $55,213,096 • Municipal Lighting Department • Water Fund • Sewer Fund • Parking Special Assessment District • Library Fund • Recreation Fund • General Fund

  3. Municipal Lighting • Separate from all other funds • Bills City for Services Rendered by MLD staff • Billed by City for Services Rendered by City Staff • Supported by Electricity Customers • No rate increase in this budget • Last rate increase was 2010 • Projected Revenue: $ 17,892,481 • Projected Expenses: $ 17,849,314 • Debt Service in Expenses: $1,258,941 • Contribution to Reserve: $ 43,167

  4. Water Fund • Separate from all other funds • Supports the Staff of Water Filtration Plant • Supports some of the Public Works & Engineering Employees • Supported by Water Customers • No rate increase in this budget • Last rate increase was 2009 • Specific Capital Project charges added in 2012 & 2013 • Projected Revenue: $ 3,348,840 • Projected Expenses: $ 3,475,499 • Fund Balance used: $126,609 of $1.8 million • Debt Service in Expenses: $ 310,450

  5. Sewer Fund • Separate from all other funds • Supports the Staff of Water Pollution Control Plant • Supports some of the Public Works & Engineering Employees • Supported by Sewer Customers • No rate increase in this budget • Last General Rate Increase was 2009 • Projected Revenue: $ 5,525,530 • Projected Expenses: $ 5,785,277 • Fund Balance Used: $ 259,747 of $5 million • Debt Service in Expenses: $ 18,080

  6. Parking District • Separate from all other funds • Supported by Special Assessments • Former Air Base Oval • Downtown • No increase • Projected Revenue: $ 90,899 • Projected Expense: $ 89,399 • Fund Balance Increase: $ 1,500 • Debt Service: $11,245

  7. Library Fund • Managed by Separate Library Board of Directors • Supported in part by General Fund Taxes. • Projected Revenues: $ 963,633 • State Aid: $ 90,779 • Local Grants: $ 5,200 • City General Fund: $ 801,179 • Projected Expenses: $ 938,633 • Debt Service in expenses: $5,000 • Contribution to Capital Reserve: $ 25,000

  8. Recreation Complex Fund • Supported by General Fund Taxes & User Fees. • Projected Revenues: $ 1,023,042 • User Fees & Donations: $ 630,400 • City General Fund $ 392,642 • Projected Expenses: $ 1,023,042 • Debt Service: $115,959

  9. City General Fund • Supported by Property Taxes, State Aid and Fees. • Projected Revenue: $ 21,550,302 • Local Property Taxes: $10,031,235.64 • Tax Levy up 1.56%; at NYS Tax Cap level. • Tax Rate: $10.69/$1,000, up from $10.59, less than 1% increase. • Sales Tax: $ 4,007,581; Down 4.6% • State Aid: $ 2,877,880; no change • Projected Expense: $ 23,405,798 • Debt Service in expenses: $1,779,199 • Fund Balance Used: $ 1,855,496

  10. Fund Balance • Built over several years • Tough Decisions • Unsettled Labor Agreements • Two settled last year; one in negotiations now. • Recession • Rapid rise of Retirement Costs • Sales Tax stagnant • Property Values dropped • Fund Balance Used to Bridge to Better Times. • We have always seen relief in 2016, have budgeted to get there. • $600,000 Bond Payment Eliminated in 2016 • Another $200-300,000 drop in Retirement Costs Expected in 2016 • Negotiating Healthcare Changes, $200-400,000

  11. Fund Balance • Mayor’s draft shows a Negative Fund Balance. • Based on Conservative Estimates for the rest of 2014. • The Council’s budget revisions will occur when we know 2014 actuals. • I expect a strong finish to 2014, but budgeted conservatively • Budget Contains Embedded Reserves • It has been between $600,000 and $1,200,000 in recent years • Healthcare, to be sure we can meet a bad health year • Emergency Repairs, to be sure we can maintain services • Not running out of Cash. • We have $1.5 million in prepaid expenses and committed reserves. • Across all funds we have $12,000,000 or more in the bank every day.

  12. $957,662 $1,290,168 $665,496 Budgeted $2.2 million; expect to use $1.25; $957,000 “embedded reserve.” Budgeted $2.3 million from F.B., actually used only $1 million; $1.3 million “embedded reserve”. Budgeting $1.8 million from F.B., expect to use only $1.2 million; $665,496“embedded reserve”.

  13. Bottom Line Choices • Let Fund Balance “bottom out” • At a low level, but a reasonably safe level. -$381,785 • Begin to reduce dependence on Fund Balance • 2014 $ 2.2 million budgeted; 2015, $ 1.8 million budgeted • Begin to rebuild Fund Balance in 2016 • I don’t want to take money from the Taxpayer’s Savings Accounts to put it into the City’s Savings Account! • Begin to restore Community Development Office • An investment that will yield future revenue. • Create a staff position to manage Events and to Coordinate Volunteer Groups’ Efforts. • Battle of Plattsburgh • Fishing Tournaments • First Weekends, etc. • An investment that will yieldfuturerevenue. • Create Municipally-Operated Marina • An investment that will yieldfuturerevenue.

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