BOROUGH OF CHATHAM 2015 Municipal Budget March 18, 2015 RJF 1
Budget Process Schedule General & Capital Budget Presentation……….March 9 th COLA Ordinance Introduction……………………March 9 th COLA Ordinance Adoption………………………...March 23 rd Budget Introduction………………………………..March 23 rd Capital Ordinance Introduction………………….April 13 th Budget Adoption……………………………………..April 27 th Capital Ordinance Adoption………………………April 27 th March 18, 2015 RJF 2
Budget Overview 2015 Description 2014 2015 +/- +/- Percent Total Budget $14,094,778 $14,115,349 $20,571 0.15% Municipal Tax Levy $7,518,208 $7,593,286 $75,078 0.90% Library Tax Levy $843,735 $860,910 $17,175 0.20% Total Tax Levy $8,361,943 $8,454,196 $92,253 1.10% Municipal Tax Rate .365 .368 .003 0.79% Library Tax Rate .040 .041 .001 2.43% Total Tax Rate .405 .409 .004 0.99% Total Budget $14,094,778 14,115,349 $20,571 0.23% Annual Increase for Average Assessed Home of $662,711= $29.49 March 18, 2015 RJF 3
Road Improvement Plan Mill & Pave DPW Entrance Drive Duchamp Place Fairview Avenue (Fairmount to Washington) Center Avenue (Milton to Yale) Raymond Street Overlook Road Total Cost = $150,000 March 18, 2015 RJF 4
Total Annual Municipal Cost Increase (Average Assessment $662,711) 2015 Description 2014 2013/2014 2015 2014/2015 Increase Municipal Tax $2,681 $46 $2,710 $29 (Including Library) Open Space Tax $33 No Change No Change No Change Total Tax $2,681 $46 $2,710 $29 March 18, 2015 RJF 5
Tax Levy CAP (3 year bank) CAP Exclusions Maximum allowable amount to be Pension Increases raised by taxation $ 7,660,451 Capital Improvement Increases Amount to be raised Debt Service Increase by taxation (library tax not included) $ 7,593,286 New Ratable Adjustment To The Tax Levy $ 257,826 Health Insurance 2014 CAP Bank Increase(7.4% inside CAP) 2013 CAP Bank $ 146,558 LOSAP Increase Total CAP Bank $ 404,384 Deferred Charges (all) Library Tax Is Not Included In The Cap Calculation. If necessary the three year CAP bank or a portion can be applied to the following year budget which allows for a higher percentage tax rate increase over the 2% CAP limit. March 18, 2015 RJF 6
Appropriations CAP (2 year bank) 2014 (actual inside CAP) $9,047,444 CAP Exclusions Debt Service Capital Improvements 2015 3.5% $307,560 New Ratable Adjustment Grants 2013 CAP Banking $146,558 Reserve for Uncollected Taxes Deferred Charges 2014 CAP Banking $257,826 Health Insurance Increase (7.4% inside CAP) Added Assessments $21,128 LOSAP Snow Emergencies 2015 Maximum Allowed $9,780,516 Library Joint Meeting 2015 (actual within CAP) $8,980,772 2015 Maximum $799,744 (allowed within appropriations CAP) March 18, 2015 RJF 7
Total Tax Rate Increase Comparison 2008 - 2015 10.00 8.57% 9.00 P 8.00 E 6.81% 7.00 R C 6.00 E 5.00 N T 4.00 A 3.38% 3.00 G 2.34% 2.00 E 1.79% 1.00 1.43% 1.50% 0.99% 0.00 2008 2009 2010 2011 2012 2013 2014 2015 The 2015 local open space tax remains unchanged March 18, 2015 RJF 8
How will your 2015 tax dollar be spent? School & County Tax (est 2% increase) School Tax Municipal Library County Tax (includes Tax Tax 2.20% Open Space Tax) 63.26 % 19.39% 15.14% ($860,910) ($24,765,396 ) ($7,593,286 ) ($5,926,891) Note – The Municipal Tax % is 19.13% ($7,490,392) and Open Space Tax % is .26% ($102,894) March 18, 2015 9 RJF
Expense Percentage By Department/Type To The Total Budget 2015 Reserve For Uncollected Taxes Deferred 12%/12% Legal & Charges Interlocal Police Agreements Insurance 2%/2% 22%/22% Parking & 4%/4% 3%/3% Utilities 3%/3% Boards & Public Commissions Works 1%/1% 9%/9% Health Benefits Library 5%/5% 6%/6% Recreation Pensions & Benefits 2%/1% 7%/7% Administration Joint Fire 6%/6% Meeting LOSAP 4%/4% EMS Debt Service 1%/2% 13%/13% Red % is 2015 Black % is 2014 March 18, 2015 RJF 10
2014 Tax dollar percent that funds the budget Chatham Borough ranks 2 nd lowest when compared to surrounding towns 80% 72% 68% 68% 68% 69% 70% 64% 59% 60% 53% 50% 40% 30% 20% 10% 0% Madison Chatham Long Hill Chatham New Summit Florham Berkeley Borough Township Providence Park Heights March 18, 2015 RJF 11
Property Valuation & Percentage Increases 2008 - 2015 Chatham Borough Chatham Twp. Florham Park Madison 4 0% Madison’s increase is due to revaluation +.12% 3 +.04% Billions +.06% 2 2008 percentage increase/decrease compared to 2015 1 0 2008 2009 2010 2011 2012 2013 2014 2015 March 18, 2015 RJF 12
Surplus/Reserve for Uncollected Taxes 2008 -2014 $4,500,000 Surplus (actual) Reserve for Uncollected Taxes $4,000,000 Chatham Borough’s Reserve for Uncollected $3,500,000 Taxes Ranks 6 th Highest In Morris County $3,000,000 $2,500,000 $2,000,000 $1,500,000 $1,000,000 $500,000 $- 2008 2009 2010 2011 2012 2013 2014 March 18, 2015 RJF 13
Revenues 2008 - 2015 Sewer Leases General 6 $5,579 Millions $4,690 $5,673 5 $5,266 $4,035 $3,904 $3,997 4 $4,025 3 2 $1,328 $1,168 $1,035 $1,030 $1,030 $1,041 $855 $855 1 $516 $537 $544 $559 $580 $595 $595 $616 0 2008 2009 2010 2011 2012 2013 2014 2015 March 18, 2015 RJF 14
General Revenue Breakdown 2008 - 2015 Grants, Permits & Fees included 4.0 Millions Surplus Other Court 3.5 Parking Sewer State Aid Leases 3.0 2.5 2.0 1.5 1.0 0.5 0.0 2008 2009 2010 2011 2012 2013 2014 2015 March 18, 2015 15 RJF
Annual Expense Comparison 2008 - 2015 $6.0 Millions 2015 - $5,087,661 63 49 49 60 57 66 49 54 $5.0 Salary w/o Reduction $6,000,000 Estimate 2015 - $5,629,286 $4.0 $5,500,000 Key Reductions Dispatch: 4 – 0 $5,000,000 $3.0 Police: 25 – 19 $4,500,000 DPW: 18 – 16 2008 2009 2010 2011 2012 2013 2014 2015 $2.0 Administration: 14 - 9 $1.0 $0.0 2008 2009 2010 2011 2012 2013 2014 2015 Library Salary Operating Debt Service Pension #REF! March 18, 2015 RJF 16
State Aid Trends 2008 – 2015 Year Amount + / - Allocated Dollars 1,000,000 $572,099 2015 $0 $572,099 2014 $0 800,000 $572,099 2013 $0 600,000 $572,099 2012 ($2,303) 400,000 2011 $574,402 $4,606 200,000 2010 $569,796 ($176,853) 2009 $746,649 ($ 81,014) 0 2008 2009 2010 2011 2012 2013 2014 2015 2008 $827,663 ($54,462) March 18, 2015 RJF 17
Reserve for Uncollected Taxes 2008 – 2015 Year RUT Total Budget % of Budget 3,000,000 2015 $1,720,000 $14,115,349 12.18% 2014 $1,720,576 $14,094,778 12.21% 2,500,000 2013 $1,732,279 $13,661,993 12.68% 2,000,000 2012 $1,725,706 $13,424,938 12.85% 1,500,000 2011 $ 2,021,912 $13,628,582 14.83% 1,000,000 2010 $ 2,431,371 $13,820,540 17.59% 500,000 2009 $ 2,691,689 $14,309,139 18.81% 0 8 9 10 11 12 13 14 15 2008 $ 2,720,891 $14,242,636 19.10% RJF March 18, 2015 18
Mandatory Expenses Increases 2015 Pension – PERS/PFRS…………………………………………... $78,239 DPW Contractual Salaries………………………………………. 2 3,937 Police Contractual Salaries……………………………………… 40,455 Library……………………………………………………………………... 17,175 TOTAL…………………………………………………………………….. $202 ,677 March 18, 2015 RJF 19
Capital Spending 2008 - 2015 $5 $4 Millions $3 $2 $1 $0 2008 2009 2010 2011 2012 2013 2014 2015 March 18, 2015 RJF 20
2015 General Capital Budget Department Project Description Amount Engineering Phase II Gateway Signs $ 4,000 Day’s Brook Stabilization $100,000 2015 Road Resurfacing Program $100,000 (DPW Entrance, Duchamp, Fairview, Center, Raymond & Overlook) 2015 Drainage Improvement Program $112,000 (Coleman, Yale, Center, Cherry, N. Summit, John, Lincoln, Oliver & N. Hillside) 2015 Curb & Sidewalk Program (zone3) $150,000 Facilities/ Server / Rec $ 43,300 Computer / IT Equipment & Color Copier $ 15,000 DPW Building Cleanup $ 20,000 21 R JRJF March 18, 2015
2015 General Capital Budget (continued) Department Project Description Amount Road Maintenance – Micro surfacing $ 80,000 DPW Catch Basin Castings $ 12,800 Hot Box for Paving $ 30,000 Recondition Dump Truck $ 10,000 Safety Barricades & Traffic Cones $ 4,000 Snow Push Boxes for Backhoes $ 7,500 Pickup Truck w/ plow & lift gate $ 35,000 Vehicle Laptop Scanner / Equipment $ 11,000 Buildings & Borough Hall Elevator Upgrades $ 16,000 Equipment Storage Garage – DPW Grounds $ 24,000 Borough Hall Improvements $ 13,000 March 18, 2015 RJF 22
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