City of Hoboken

CY 2011

Introduced Municipal &

Parking Utility Budget
 SFY 2011 Budget Summary
„ APROPRIATIONS „ REVENUES
„ Surplus Anticipated $9,585,000
„ Operations: Miscellaneous Revenues:
Within CAPS $83,587,271 Local Revenue $22,646,749
Total S&W $37,645,600 State Aid $11,113,035
Total O.E. $35,183,141 UCC Fees $683,500
Statutory Expenditures $10,734,812 Other Special Revenue $2,563,202
Outside Cap $14,842,225
Total Miscellaneous Revenue $37,665,313
Capital Improvements $ 250,000 Subtotal General Revenue $47,643,623
Municipal Debt Service $6,302,805
Total Deferred Charges $1,978,102 Amount To Be Raised by Taxes $54,078,242
Judgments $400,000
Reserve For Uncollected Taxes $3,292,369

Total General Revenues $101,721,865

Total General Appropriations $101,721,865
 What Does This Budget Do
„ Reduces the Amount To Be Raised by 5.17% From TY10 and 9.91%
From FY10 While:

„ Including 4 Year Salary Settlement with PBA and SOA including Retro
Pay

„ Absorbing $1,288,446 or 17.6% Increase to Pension

„ Absorbing an Increase in General Liability and Health Benefits of Over

$2 Million or 11%

„ Including Amounts for Reserve for Uncollected Taxes, Tax Appeals, PY

Emergency Appropriations Not in FY10 equaling $5,127,369

„ Including a Reduction in Debt Service of $2,357,000.00 from FY10

„ Reduction In Total Salaries by $2,895,000 (approximately $4 million

inclusive of retroactive pay) from FY10

„ Absorbing a Reduction of State Aid of $3,400,000 from FY10

 Cost Drivers
„ Retroactive Pay $3,000,000

„ Health Care Cost $1,640,000

„ Pension Increase $1,288,446

„ Deferred Charges $1,954,393

„ Salary Settlements $1,300,000

„ Decrease in State Aid $3,400,000

 Surplus Analysis
Total Surplus $25,422,135.79
Less:
Due From State Senior/Vet Deduction 27,152.35
Deferred Charges 6,812,569.86
State Aid Receivable 3,864,299.50

Cash Surplus Available for Use $14,718,114.08

Less:
Amount Used For Budget 9,585,000.00

Surplus Balance for Bond Rating $5,133,114.08

 Surplus Used In Budget
„ Surplus to Reduce Taxes (Regenerates) 4,250,000.00
„ Salary Settlement (Retro-One Time) 3,000,000.00
„ Tax Appeals (Limited Time) 1,500,000.00
„ PY Emergency Appropriation (One Time) 335,000.00
„ Salaries for Retirees (One Time) 300,000.00
„ Capital Improvement Fund
(Capital Infrastructure) 200,000.00

Total Surplus Used in Support of Municipal Budget:

$9,585,000.00
 Discretionary Spending Analysis
Total Budget $101,721,865
Non Discretionary
Deferred Charges $1,978,102
„ Debt Service $6,302,805
„ Pension $8,594,672
„ Salary & Wages $37,645,600
„ Statutory Obligations $1,856,540
„ Health Benefits/other Insurance $17,054,246
„ Salary Settlements & Adjustments $4,300,000
„ Library $3,414,730
„ Other $7,414,840
„ Reserve For Uncollected Taxes $3,292,369
„ Total Non Discretionary $91,853,904

„ Discretionary Spending $9,867,961

3 Year Budget Appropriations History
2011 vs. 2010 Budget Revenue
Comparison
Salary & Wage by Department
Comparison of Department Cost
to Total Budget
Salary & Wages vs. All
Appropriations