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Overview of Mayor's 2015 Budget Allocations Across Municipal Funds

The Mayor's 2015 budget totals $55,213,096, with allocations for various municipal funds. The General Fund, supported by property taxes and state aid, projects revenues of $21.5 million and expenses of $23.4 million, using $1.9 million from the fund balance. Other essential funds include Water, Sewer, Library, and Recreation, all maintaining no rate increases. Significant costs are managed while ensuring service continuity. The budget aims at balancing current needs and future sustainability, with strategic planning for debt service and community development.

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Overview of Mayor's 2015 Budget Allocations Across Municipal Funds

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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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