2018 BUDGET HIGHLIGHTS. Total Budget - All Funds (millions) Unassigned Fund Balance General Fund

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1 01 BUDGET HIGHLIGHTS The City of New Rochelle Proposed Presentation 01 Restored Public Service Positions Increased funding for public safety measures. Funded mandated health insurance costs Implementation of the second year of the ten year Capital Plan. Fund Balance is maintained at its highest level since 00 and will be able to withstand fiscal emergencies. Bond rating upgrade from Aa3 to Aa. Total - All Funds (millions) UNASSIGNED FUND BALANCE 01 Appropriation = $1.m Proposed 01 Adopted 017 Increase/(Decrease) $ % Operating $ 137. $ 131. $. % Capital Fund (1.3) -1% Debt Service Fund % Enterprise Fund.0.1 (0.1) -1% Special Funds (0.1) -1% Internal Funds.. (0.) -% Projected 017 Projected 01 Actual 01 Actual 01 Actual 013 Actual 01 Actual 011 Actual 0 Actual 009 Actual 00 Actual TOTAL $ 19.9 $ 0.9 $ (13.0) -% 3 Unassigned Fund Balance General Fund New Fund Balance Policy Goal: Fund Balance = % of On-Going Operating Expenses Year Fund Year End % of Expense 013 $.1 % 01. % % % 017 (Projected) 1. 13% 01 (Projected) 1. 1% 01 ADOPTED PROPERTY TAX INCREASE State Cap Levy Increase-Operating * =.03% State Cap Property Tax Levy Increase = $1.m Tax Levy Needed for Operating/Capital = $1,0,33 Tax Rate Increase based on estimated assessment roll =.0% *NO EXCLUSIONS IN CAP FOR: Debt Service; Tax Certiorari Judgments; New Programs (Unless revenue - offsetting); Capital Improvements; Union Contracts; Health Cost Increases; Federal or State Mandates. 1

2 Taxable Assessment Roll Comparison City Tax Rate 01 Estimated Assessed Value of All Properties = $,00,000 Minor decrease from Proposed Tax Rate = $ Actual Tax Rate = $. Tax Rate Increase =.0% 01 Tax Increase per Average Household: $ WHERE YOUR TAX DOLLAR GOES County 1% City 19% Library % 01 GENERAL FUND MAJOR REVENUE VARIANCES FROM 017 REVISED BUDGET 017 Revised 01 Proposed Variance Property tax $0. $. $1. Sales Tax State and Federal Aid (.) Licenses/Permits.7.9. Residential Refuse Fees.. - Departmental fees.3..1 Other Tax Items (.1) School % Appropriated Fund Balance.7 1. (3.) Other Revenue School County City Library 9 TOTAL REVENUE $13. $137. $3.0 SALES TAXES PERMIT REVENUE Proj Proj 01 1

3 NEW YORK STATE AID TO NEW ROCHELLE MORTGAGE TAX REVENUES Proj GENERAL FUND MAJOR EXPENDITURE VARIANCES FROM 017 BUDGET 017 Revised 01 Proposed Yr to Yr Variance $ % $ Personal Services/Fringe $.1 $ 71.3 % $ 3. Health Ins-Active/Ret % 1. Retirement % 0. Debt Service. 3. 3% 0.7 Contractual % (0.7) Other % (.) TOTAL $ 13. $ % $ HEALTH INSURANCE COSTS GENERAL FUND Active Employees PENSION COSTS GENERAL FUND FULL TIME STAFFING Proj 01 Bud

4 Debt Issuance Plan 017 to 019 GENERAL FUND (in millions) BANS $3. $7.3 $3. BONDS $13. $1.3 $1. TOTAL $. $3. $70. Public Safety Restoration of three Police positions for City-Wide patrol. Increased funding for overtime for firefighters, as in interim measure to increase manning where appropriate. One new fire engine Economic Development Continued implementation of the downtown redevelopment plan to promote economic growth, new housing and commercial opportunities and job creation with major projects currently under construction. Implementation of the electronic building code review process. Partner with a local nonprofit for job referral services at the job placement and training center to create employment opportunities for City residents. 1 Public Works Significant progress of the Relocation of public works facility through a Public Private partnership. Commencement of the construction phase of the sanitary sewer improvements. Completion of grant requirements to implement composting pilot at Beechwood in partnership with the NR City School District. Continuance of the EPA-mandated Illicit Discharge Detection and Elimination Program. Culture and Recreation Creation of franchising and advertising opportunities in the park system to provide ongoing financial support of operations. Expansion of on-line web registrations to include all activity programs, passes and events. Expand softball leagues and summer camp programming. Technology Permit and Code Enforcement system upgrade to streamline and inform the public of all aspects of the process. Implementation of the City-wide financial system upgrade and document capabilities. Implementation of a new service request system that will enhance work flow and increase response times and repairs. 3

5 1.0 Debt Service General Fund Next Ten Years (in millions) Projected Outstanding Debt Year Capital Financing Plan Current Debt Service New Debt Service For Ten Year Capital Plan TEN YEAR CAPITAL PLAN (FY 1-7) The second year of the initial Ten-Year Capital Plan is budgeted and funded. The status of projects were updated, strategically prioritized and categorized. Ten year investment of $9. million. Major New Projects Added to the Ten Year Capital Plan Quaker Ridge Complete Street Project Beechmont Lake Improvements Main/Weyman Area intersection improvements Sanitary Sewer repairs/replacement as a result of the recent study Police equipment investment 7 TEN YEAR CAPITAL PLAN $9. million By Category Categories FY 1 FY 1-7 (in millions) $ % $ % Community Services & $.1. $ Public Facilities Economic Growth & Business Development Neighborhood Resiliency Parks & Natural Resources Streets & Sidewalks Vehicles & Equipment TOTAL $1.9 0% $9. 0% TEN YEAR CAPITAL FINANCING PLAN Funding FY 1 FY 1-7 (in millions) $ % $ % Bonds $7. 3 $. Pay As You Go (PayGo) Grants.3. 1 Special Funds 1.. TOTAL $1.9 0% $9. 0% 30

6 GFOA AWARD The 01 has incorporated many of the Government Finance Officers Distinguished Presentation Award requirements. The City s 01 will be submitted for this award. Typically awards are not issued on first submission but useful recommendations will be provided as feedback for next year s budget. 31 The 01 Proposed and Work Program The slides of this Presentation may be viewed online Department of Finance/ Cassandra Campbell, Analyst