Proposed Budget

Transcription

1 Proposed Budget Fiscal year runs June 1, 2017 through May 31, 2018 The General Fund, The Water Fund, and the Sewer Fund

2 The General Fund: Determines the Property Tax The General Fund is a fiscal plan to pay for most Village services and community development projects. Property taxes are revenue for this Fund

3 Understanding Property tax Property tax is a function of: Appropriation: the amount of money the village will spend Other revenues: including State aid, shared sales tax, fines, fees, fund balance Tax Levy: the $ amount to be raised by taxes Total Valuation: $ of taxable property value Tax Rate: the levy divided by valuation

4 Proposed Property Tax: The Bottom Line Tax Rate increases 1% to $16.99/1000 Tax Levy is $1,732,756 or 1.78% higher than last year (tax levy cap is $1,719,452 or 0.1%) Total Appropriations are: $3,428,637 or a increase of $338,949 from last year s actual budget or 11% increase

5 dollars Appropriations: $3,428,637 an increase of $338,949 from last year s actual budget, 4,000,000 3,500,000 Appropriations ,000,000 2,500,000 2,000,000 1,500,000 1,000, , / 2001/ 2002/ 2003/ 2004/ 2005/ 2006/ 2007/ 2008/ years 2009/ 2010/ 2011/ 2012/ 2013/ 2014/ 2015/ 2016/ Appropriations 2,041 2,146 2,090 2,401 2,490 2,328 2,538 2,618 2,630 2,597 2,725 2,862 2,845 2,968 2,967 3,185 3,089 3,428

6 The General Fund Appropriations: Increase of $338,949 General Government Support (clerk, judicial, public works, buildings, legislative, law) Public Safety (control center, fire, police) Transportation (streets, sidewalks, parking) (addition of $73,000 CHIPS projects this year) Culture & Recreation (parks, SYI, celebrations) Community Service (zoning, beautification, garbage) Employee Benefit (retirement, social security, medical insurance) Debt Service (bonds, BANs, installment debt) (this year: Franklin St, Heritage Park, 65 Franklin St BANs $175,000 increase)

7 Why the Spike in Appropriations? 4,000,000 3,500,000 3,000,000 2,500,000 2,000,000 1,500,000 1,000,000 Appropriations Trend ,401,688 2,490,907 2,538,697 2,618,035 2,630,115 2,597,694 2,328,330 2,146,417 2,041,093 2,090,472 2,862,090 2,725,097 Appropriations 2% trend 3% trend 3,428,637 3,185,952 3,089,688 2,968,126 2,967,123 2,845, ,000 0 years Projects account for $225,000 increase from Last year appropriations decreased $96,908. Overal trend is less than 3% growth.

8 Appropriations 49% on public safety and streets DEBT SERVICE, , 14% INTERFUND TRANSFER, 35000, 1% GOVERNMENT SUPPORT, , 8% GOVERNMENT SUPPORT PUBLIC SAFETY EMPLOYEE BENEFITS, , 13% PUBLIC SAFETY, , 24% TRANSPORTATION CULTURE & RECREATION COMMUNITY SERVICE COMMUNITY SERVICE, , 11% EMPLOYEE BENEFITS DEBT SERVICE CULTURE & RECREATION, , 4% TRANSPORTATION, , 25% INTERFUND TRANSFER Appropriations Chart

9 Appropriation Increases: Mandated Costs, Maintenance, Projects Debt Service for Franklin St, Heritage Park, Public Safety Building: $175,142 CHIPS Accounting adjustment for project: $73,000 Employee Retirement: $17,232 Police Equipment: $15,689 Trees: $6,427 Beautification: $4000

10 Debt Service (14%) Increase Heritage Park Public Safety Building Franklin & Mechanic St $175,142 for Smart Growth Projects Improvements M&T Bank Park.

11 Transportation (25%) 65 Franklin Parking Lot: increase $10,000 CHIPS Adjustment: Increase adjustment $73,000

12 Employee Benefits (13%): steady increase in Retirement costs Increase NYS and LOSAP Firefighter Retirement: $17,232 up 10%

13 Public Safety (24%): Police, Fire, Code Enforcement Springville Police and Erie County Sheriff Increase $15,689 for needed Police equipment SFVD Control Center

14 Community Services (11%) Increase $6427 for trees on Main Street, Rail Trail, Parks. Increase $4000 for flowers on Main, Mechanic, Franklin, Factory.

15 Revenue: How we pay for the appropriated $3,428,637 Property Tax Levy: $1,732,756 Other Revenues: $1,470,881 Unappropriated Fund Balance: $225,000 Total Revenue: $3,428,637

16 Revenue Sources Non-Property and other tax (share of sales tax) Departmental Income (public safety, fire inspection fees, garbage stickers) Use of money and property (cell tower leases) License, permits Interfund revenues (transfer payment for projects) State aid (AIM, CHIPS, mortgage tax) (actually no Federal aid in budget) Unappropriated Fund Balance Tax Levy

17 Revenue Chart: Tax Levy is 51% of Revenue Total TAX Items Revenue Chart DEPARTMENTAL INCOME TOTAL USE OF MONEY AND PROPERTY SALES LICENSE PERMITS MIS AND INTERFUND REV From Unappropriated Fund 7% Total TAX Items 19% STATE & FEDERAL AID RESERVE TRANSFER TAX LEVY DEPARTMENTAL INCOME 10% From Unappropriated Fund TAX LEVY 51% TOTAL USE OF MONEY AND PROPERTY 3% SALES LICENSE PERMITS 4% RESERVE TRANSFER 1% MIS AND INTERFUND REV 1% STATE & FEDERAL AID 4%

18 Revenue: includes tax levy, other revenues, fund balance 4,000,000 3,500,000 Revenues by Type ,000,000 2,500,000 2,000,000 1,500,000 1,000, ,000 unappropriated fund balance other revenues raised by tax 0

19 Why We Maintain an Unappropriated Fund Balance Present balance is $1,400,000 State suggests healthy fund balance. Springville uses Fund balance to leverage grants 2015 we used $185,300 to complete purchase of Franklin St property 2017 we used $225,000 to make payments on Franklin projects and correct CHIPs accounting.

20 Grant Revenue Leveraged by Using Fund Balance $300,000 Erie County Smart Growth for Franklin and Mechanic St $325,000 Erie County Smart Growth for Heritage Park and Factory St $30,000 NY Main Municipal Projects $12,000 Springville GI Foundation Rail Trail

21 Tax Levy Growth 10 Years Tax Levy 10 year trend 1,800,000 1,750,000 1,700,000 1,650,000 1,600,000 1,550,000 1,500,000 1,450,000 1,400,000 1,350,000 Tax Levy Linear (Tax Levy) Tax levy increased 1.6% per year over the last 10 years

22 Proposed Tax Rate: $16.99/$1000: 1% or $.21 over last year. Ten Year trend is 1.7% annual increase Tax Rate/$ year trend Tax Rate/$ / / / / / / / / /

23 Tax Rate/$ year tax rate trend: 1.7% over 28 years Springville Tax Rate Comparisons tax rate Years

24 Going over the Tax Levy Cap The NYS Tax Levy Cap for Springville is $1,719,452 or 0.1% The Village Tax Levy is $1,732,756 or 1.78% Appropriations Appropriations meet the minimum cost of funding services. Levy is under 2%. Revenues Trustees used unappropriated fund balance without jeopardizing future revenues for services.

25 Going Over the NYS Tax Levy Cap Village continues to position itself to leverage grants to bring more revenue to Village The Proposed Budget is a fiscally prudent budget that funds Village services and community development projects in the long run. Residents will receive services and improvements to Village

26 Taxable Valuation: Increased by $503,186!! Taxable Property Valuation shows flat trend, growth this year 105,000, ,575, ,000,000 Total Property Tax Valuation ,859, ,549, ,294, ,114, ,640, ,491, ,045, ,539, ,960, ,457,449 95,000,000 96,235,242 95,892,167 95,641,704 94,344,152 93,549,808 92,282,995 90,000,000 90,982,845 85,000,000 80,000, / / / / / / / / / 09 Total Val 90,982 92,282 93,549 94,344 95,641 95,892 96,235 97, ,57 100,54 100,29 101,11 101,64 101,04 101,49 101,53 101,45 101, / / / / / / / /

27 Tax Valuation and Assessment (2017 data) property valuation 5 year trend 2012/ / / / / Parcels, $154,017,491 Total Value 15% of parcels (256) are partially exempt 6% of parcels (100) are wholly exempt 34% ( $52,056,856) of Assessed Property $ s are exempt from taxes Taxable Value is $101,960,635

28 Taxable Valuation Change from Total parcels Total Assessed Value $154,647,717 $154,017,491 Partial Exempt 263 (16%) 256 (15%) Whole Exempt 100 (6%) 100 (6%) $ Exempt $53,180,628 (34%) $52,056,856 (34%) Taxable Value $101,457,449 $101,960,635 Decrease in exempt properties caused an increase in Taxable Value, even with a decrease in Total Assessed Value

29 Five Year Trends: Appropriations, Levy, Valuation appropriations 5 year trend property valuation 5 year trend 2012/ / / / / / / / / / tax levy 5 year trend 2012/ / / / /

30 Enterprise Funds Some services are paid for by fees. These are called Enterprise Funds in Municipal Accounting. These funds run like a business and must run in the black. Tax revenues do not support Enterprise funds. Water Fund: pays for the pumping, purification, transmission of water. Sewer Fund: pays for the treatment of sewage. Electric Fund: pays for the purchase and transmission of electric power. Rates are controlled by PSC.

31 2017 Water Fund: fee increase Appropriations: $1,212,710, an increase of $93,530 or 8% from last year. Proposed rate increase has the potential to pay for the increased appropriations. The Water Fund is an Enterprise fund and must be balanced.

32 Water Fund Appropriations Increase Water Purification: Replacements of actuators and PLC in the purification plant are needed. An increase of $82,800 The last time Water Rates were raised was in 2008

33 Sewer Fund Appropriations Appropriations are $777,981, an increase of $48,693 or 7% over last year. Last year revenues were $729,288 Proposed rate increase has the potential to pay for the increase in appropriations The Sewer Fund is an Enterprise Fund and must be balanced.

34 Sewer Fund Appropriation Increase Sewer Treatment Plant Trash Pump Tank Rehab Work Correct negative fund balance since 2016 Last sewer rate increase was in December 2015 of $.50

35 Water and Sewer Fee Increases Average Customer will see a $5.75 increase in water and sewer bill. Water Rates Water Debt Service Fee increases by $2.00 Minimum Monthly Charge increases by $1.00 Rate per thousand gallons over 1M increase by $.50 Sewer Fees Minimum monthly charge increases $2.00 Rate per thousand gallons of water used increases $.25

36 Conclusion: Efficient Service with modest cost increase Village life is enhanced by the services and smart growth projects provided by the General Fund, Water Fund, & Sewer Fund. 51% of revenues to pay for General Fund come from property taxes, down from 55% during Long term trends and planning make the services affordable Fiscal data shows need to develop plans for economic development & residential growth.

37 Towards A Better Springville Steps towards economic development residential growth; NY Main; WNYREDC grant: commercial property registry Municipal Capital Improvement Projects Public Safety Building, Smart Growth Projects Heritage Park, Rail Trail project. 1RF Initiatives: Clean Energy Community, Urban Forest Project, Community Development Committee Partnership in Regional Projects Old 219 Bridge; WNYSSB, ECRT, White Water Park, Shared Services - Dedicated Patrol contract with ECS Support for Non Profit Projects SACC, SRSC, SYI, SCA, BCH, CHS