2010 Budget
Ambrose:
Some quick observations on the Budget Package:
You are projecting a decrease of $160,000 in 2009 expenditures, out of which $150,000 is the decrease for the Northmont Dam only. Is the total decrease for the rest of the activities only $10,000 ?
EIT Revenues are running at 70.5% at the end of August, pretty much in line with what was expected.
Real Estate Tax Revenues are at 95.8% at the end of August. It appears we should collect MORE than budget amount for Real Estate Tax this year.
Most of the expenditures for 2010 are for personnel, equipment and general maintenance work except Paving. We can delay ALL PAVING work by one year until the budget amounts recover to where we start to build up a cash surplus at the end of the year. Delaying paving would have the ripple affect of savings in pesonnel, material and maintenance costs.
If the GF needs a tax & revenue anticipation loan in 2010, that should be all right. When I joined the Council in 2006, we borrowed $700,000 (after a $1,000,000 borrowing in 2005) and we made money on the borrowed money, each of those two years.
There is no need to compare our millage with adjoining communities. People come to Franklin Park because of our low tax base and our superb services. That is a necessary expectation from the Borough Staff and Management. We cannot deviate from that trust placed in us.
Ash
Some quick observations on the Budget Package:
You are projecting a decrease of $160,000 in 2009 expenditures, out of which $150,000 is the decrease for the Northmont Dam only. Is the total decrease for the rest of the activities only $10,000 ?
EIT Revenues are running at 70.5% at the end of August, pretty much in line with what was expected.
Real Estate Tax Revenues are at 95.8% at the end of August. It appears we should collect MORE than budget amount for Real Estate Tax this year.
Most of the expenditures for 2010 are for personnel, equipment and general maintenance work except Paving. We can delay ALL PAVING work by one year until the budget amounts recover to where we start to build up a cash surplus at the end of the year. Delaying paving would have the ripple affect of savings in pesonnel, material and maintenance costs.
If the GF needs a tax & revenue anticipation loan in 2010, that should be all right. When I joined the Council in 2006, we borrowed $700,000 (after a $1,000,000 borrowing in 2005) and we made money on the borrowed money, each of those two years.
There is no need to compare our millage with adjoining communities. People come to Franklin Park because of our low tax base and our superb services. That is a necessary expectation from the Borough Staff and Management. We cannot deviate from that trust placed in us.
Ash
posted by Unknown at
4:20 AM
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