2020 2020 Municipal Budget Presentation Budget / Mission - PowerPoint PPT Presentation

2020 2020 Municipal Budget Presentation

Budget / Mission Statement In order to serve the diverse needs of our community and to enrich the quality of life for all residents, the Township of Neptune is committed to providing a safe and healthy community for individuals of all ages through the offering of programs, services, information, and access.  Fi Fiscal Res esponsib ibili lity  Main intain an and Imp Improve Qu Quality of of Lif Life in every ry neig neighborhood  Provision of of ser servic ices (N (No reduction in ser servic ices s to to the com ommunity)  Public Sa Safety, , He Health & Welf lfare as as pr prio ioritie ies  Main intainin ing a a stable tax bas base an and tax rate  Providing ser servic ices s to to 6000 6000+ sen senio ior citi citizen res esid idents  Rem emain pr prepared for or dis disaster res esponse se an and rec ecovery ry  Deb Debt for or gr growth of of com ommunity an and di distributio ion of of cos osts ts to to those who ho rece eceive the be benefit (not to borrow for items we can’t afford)  Dea Deali ling wit ith contin inued loss oss of of statutory ry state pa payments  Sus Sustainable bu budgetin ing  Maintenance of strong financial ratings from Moody’s and Standard & Poor’s

Impact of CoVID-19 Public Health Emergency  St State ai aid un uncertainty (a (amount an and pa payment sch schedule)  Revenue los oss  Mu Municip ipal l Cou Court clos osed  Bu Business re regis istratio ion fees  Constructio Con ion perm rmit it re revenue  Interest on on inves vestments  Gra Grant fun funded prog rograms  Ex Expense ses rela elated to to res esponse se  Property tax impact  Possib ossible le extensio ion of of grac race perio riod (no (not t yet yet autho thoriz ized by y St State) rd Qu  or 3 rd Estim Es timated billin ing for Quart rter Taxes

2016 2016-2020 2020 (Includes Library) 2020 Bu Budget: $45,917,540.65 2019 Budget: $45,204,827.17 2018 Bu Budget: $44,668,204.67 2017 Bu Budget: $43,729,332.07 2016 Bu Budget: $43,453,556.17 1.5 .58% in increase $712,713.48

2020 Budget Information Th The Total l Bu Budget (in (inclu ludin ing Lib Library ry Tax) has inc increased by $ 712,713.48, 1.5 .58%, as as compared to 2019. Tax Rate is is reduced by 1.3 .3 cents ts per r $100.00 of f assessed valu lue as s a resu sult lt of rela lativ ively ly lo low inc increase in in appropria iatio ions and an inc increase in in taxable le ratable les.

Impact of 2020 Budget Tax Rate Proje jected to decrease by 1.2 .2 cents per r $100 of valu lue fr from .7 .749 to .7 .736 (1 (1.7 .7% decrease). Tax on home ass ssessed at t $375,000.00 are estim timated at t $2,761.63, a decrease of f $47.12 as compared to 2019.

How Your Property Tax Dollar is Divided FIRE DISTRICTS, LIBRARY, 1.6% 4.2% COUNTY, 13.1% MUNICIPAL, 35.2% SCHOOL DISTRICT, 45.9%

State Impact on local budget Appropria iations CAP (3. (3.5%) Le Levy vy CAP (2% (2%) State Ai St Aid Los Loss (Lo (Local l Property Tax Relie lief) Im Impact will ill con ontin inue to o grow in in in incr crements eac ach year unle less th the St State Aid id program comes in into compli liance wit ith th the in intent of of th the program

Underpayment of State Aid to Neptune by Year (Totals more the $57,508,944.00 since 2001 / $5,398,594.00 for 2020 Alone) 11,000,000 10,000,000 9,000,000 8,000,000 7,000,000 6,000,000 5,000,000 4,000,000 3,000,000 2,000,000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Received Statutory Amount

State Aid as a Percentage of Total Budget Revenues 30.00% 25.00% 20.00% 15.00% 10.00% 5.00% 0.00% 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021* 2022*

Percent of Local Revenue in Budget Traditional Local & UCC 9.00% 7.80% 7.69% 7.32% 8.00% 7.17% 7.00% 6.70% 6.59% 6.52% 6.51% 6.43% 7.00% 5.73% 5.15% 5.60% 5.47% 5.47% 5.60% 5.18% 5.11% 5.04% 6.00% 4.25% 4.56% 5.00% 4.00% 3.00% 2.00% 1.00% 0.00% 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021*2022*

Budget Stability over past 8 years. Projected to continue. Percent Change in Municipal Appropriations 10.00% 8.00% 6.00% 4.00% 2.00% 0.00% -2.00% -4.00% -6.00% -8.00% -10.00%

2020 Sources of Revenue

Budget Appropriations & Levy CAP Allo llowable le Oper erating Appropria iations: $ 38,2 ,209,702.31 Actu ctual l Appropriations in in 2020 2020 Bu Budget: $ 35,8 ,834,462.00 Under Maximum Permitted Appropriations CAP by: y: $ $ 2,3 2,375,240.31 Allo llowable Tax Le Levy vy: $31 $31,965,392.70 Actual l Tax Le Levy vy: $31 $31,220,939.43 Under Maximum Permitted Le Levy vy CAP by: y: $7 $744 44,453.27

$2,908,221,306 2010 -0.14% $2,905,693,847 2011 -0.09% $2,910,456,833 2012 0.16% $2,902,760,800 2013 -0.26% Net $2,811,891,900 2014 -3.13% t Valu luatio $3,520,976,700 2015 25.22% ion Taxable $3,537,256,010 2016 0.46% le $3,627,778,200 2017 2.56% $3,906,392,700 2018 7.68% $4,037,304,000 2019 3.35% $4,239,464,300 2020 5.01%

Net Debt for Capital Improvements Net Debt as a Percentage of Equalized Valuation as of 12/31 3.500% 3.000% 2.500% Percentage 2.000% 1.500% 0.951%0.883% 0.860% 1.000% 0.726%0.726%0.790%0.696%0.705%0.679% 0.759% 0.629%0.619%0.604%0.667%0.645%0.672% 0.579%0.513% 0.500% 0.000% 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2018 Year

Debt Service Expense as a Percentage of Total Revenue 20.00% 18.00% 16.00% 14.00% Percentage 12.00% 10.00% 8.00% 6.00% 4.00% 2.00% 0.00% 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Year

FREE PUBLIC Library contribution Library Portion of Property Tax $1,500,000.00 $1,400,000.00 $1,300,000.00 $1,200,000.00 $1,100,000.00 $1,000,000.00 $900,000.00 $800,000.00 2013 2014 2015 2016 2017 2018 2019 2020

Neptune Taxes vs. County & State Averages (Based on 2018 Actual) Average Tax Comparison - 2019 $10,000.00 $9,000.00 $8,975.00 $8,767.00 $8,000.00 $7,000.00 $6,513.00 $6,000.00 Neptune Township $5,000.00 Monmouth County State of New Jersey $4,000.00 $3,000.00 $2,000.00 $1,000.00 $- Neptune Township Monmouth County State of New Jersey

Ten Largest Taxpayers (2019) As a Percentage Aggregate of Assessed Value Owner of Record (2019) Assessed Value of Real Property Neptune Partners LLC/ BNE Real Estate 40,425,200 1.0013% 1. Neptune Plaza Shopping Center LLC 34,135,600 0.8455% 2. 3. Jumping Brook Realty/ Mack Cali Corp 26,175,600 0.6483% 4. JB Neptune Holdings 24,805,100 0.6144% Wal-mart Real Estate Business Trust 23,741,700 0.5881% 5. Woodlands Neptune LLC 22,947,100 0.5684% 6. 7. Ocean Grove Camp Meeting Association 19,503,200 0.4831% 8. HD Development of Maryland, Inc. 16,037,300 0.3972% Ocean Grove NJ, LLC 15,155,000 0.3754% 9. OFW, LLC 12,504,000 0.3097% 10.

“Gimmicks” Avoided One Time Revenues Pension Deferral School Tax Deferral Appropriations CAP / CAP Waivers Fiscal Year Debt Extraordinary Aid

AA Rating / Standard & Poor’s

Sewer Utility Se Sewer utilit tility is is se self lf-liq liquid idatin ing. Sewer is is regeneratin ing su surp rplu lus. Maj ajor Se Sewer in infr frastructure projects will ill con ontin inue in in efforts to o reduce In Infi filt ltration & In Inflow.

Marina 2020 Operations Mar arin ina Utilit tility is is se self lf-liq liquidatin ing. Watersid ide Reconstruction 10 100% Com omple lete.

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