Borough of Caldwell 2019 Financial Overview

This document provides a detailed analysis of the 2019 budget for the Borough of Caldwell, outlining challenges, goals, revenue sources, appropriations, and future expectations. It also highlights structural problems, mid to long-term goals, and financial breakdowns for the current fund.

• Financial overview
• Borough of Caldwell
• Budget analysis
• Revenue sources
• Appropriations

amun_7 Follow

Uploaded on Mar 12, 2025 | 0 Views

Download Presentation

Please find below an Image/Link to download the presentation.

The content on the website is provided AS IS for your information and personal use only. It may not be sold, licensed, or shared on other websites without obtaining consent from the author.If you encounter any issues during the download, it is possible that the publisher has removed the file from their server.

You are allowed to download the files provided on this website for personal or commercial use, subject to the condition that they are used lawfully. All files are the property of their respective owners.

The content on the website is provided AS IS for your information and personal use only. It may not be sold, licensed, or shared on other websites without obtaining consent from the author.

Presentation Transcript

1. 2019 Budget Borough of Caldwell

2. Presentation Contents 2019 s Challenges Mid to Long Term Goals 2019 Current Fund Revenue 2019 Current Fund Appropriations 2019 Current Fund Analysis of Changes 2019 Water Utility Appropriations 2019 Sewer Utility Appropriations 2019 Capital Budget 2020 Expectations

3. 2019 Challenges Structural Problems Community Center Parking Deck Borough Hall Leaky Roofs Borough Hall Community Center Firehouse Sewer Plant Buildings Infrastructure Needs Sewer Plant Capacity Obsolete Water and Sewer Mains Stagnant Tax Base Lack of Vibrance in Downtown Limited Municipal Personnel

4. Mid to Long Term Goals Minimize Pressure on Property Taxes Establish 4 Self-Sustaining Utilities (Water, Sewer, Parking, Community Center) Explore Additional Shared Services (Police and Courts) Encourage Development and Property Improvement Adopt Redevelopment Plan for Downtown Corridor Establish 5 Year Tax Abatement Program Address Parking Needs with Comprehensive Program New Deck on Smull Lot Coordinated use of Private Facilities Implementation of Modern Parking Technology Upgrade Capital Facilities New Borough Hall Sewer Plant Expansion Water/Sewer Main Replacement

5. 2019 Current Fund Revenue Category 2019 2018 Difference Surplus 469,837.50 469,837.50 0.00 Local Revenues State Aid Uniform Construction Code Fees Revenues with Consent of LGS Other Special Items Total Miscellaneous Revenues 1,538,938.78 686,875.00 138,343.00 1,465,596.22 397,949.63 4,227,702.63 1,537,711.87 686,875.00 198,093.00 1,455,497.85 259,424.34 4,137,602.06 1,226.91 0.00 (59,750.00) 10,098.37 138,525.29 90,100.57 Municipal Purpose Tax Minimum Library Tax Total Municipal Taxes 7,830,459.77 383,878.52 8,214,338.29 7,432,838.67 386,887.81 7,819,726.48 397,621.10 (3,009.29) 394,611.81 Total General Revenues (wo Grants) 12,911,878.42 12,427,166.04 484,712.38

6. 2019 Current Fund Appropriations Category 2019 2018 Difference Operations within CAPS Other Operations Shared Service Agreements Community Center Capital Improvement (Non-Grant) Debt Service Deferred Charges Reserve for Uncollected Taxes 8,126,970.14 1,709,733.00 8,000.00 1,457,596.22 50,000.00 1,407,079.00 37,000.00 110,000.00 7,740,216.90 1,635,784.53 8,000.00 1,447,497.85 70,000.00 1,379,497.08 37,000.00 103,669.68 386,753.24 73,948.47 0.00 10,098.37 (20,000.00) 27,581.92 0.00 6,330.32 Total Appropriations (wo Grants) 12,906,378.36 12,421,666.04 484,712.32

7. 2019 Current Fund Analysis of Changes Category 2019 2018 Difference % of Total Total Appropriations 12,906,378.36 12,421,666.04 484,712.32 Major Components (Police) Police S&W Police OE Vehicle Repair (incl. Police) Police Pensions Social Security (50%) Total Police 2,449,240.00 236,620.00 79,750.00 542,938.23 85,817.20 3,394,365.43 2,214,834.35 223,256.00 69,250.00 511,114.40 67,392.71 3,085,847.46 234,405.65 13,364.00 10,500.00 31,823.83 18,424.49 308,517.97 48.36 2.76 2.17 6.57 3.80 63.65 Other Major Changes Road S&W All Other S&W Facilities Improvement Program PERS Sewerage Treatment Library Community Center Capital Improvement Fund Debt Service Reserve for Uncollected Taxes Total Other 422,010.00 570,360.00 50,000.00 96,588.67 1,200,449.59 428,283.47 1,457,596.22 50,000.00 1,407,079.00 110,000.00 5,792,366.95 385,411.84 598,698.27 36,598.16 (28,338.27) 50,000.00 20,613.38 50,478.83 23,469.70 10,098.37 (20,000.00) 27,581.92 6,330.32 176,832.41 7.55 (5.85) 10.32 4.25 10.41 4.84 2.08 (4.13) 5.69 1.31 36.48 0.00 75,975.29 1,149,970.76 404,813.77 1,447,497.85 70,000.00 1,379,497.08 103,669.68 5,615,534.54 All Other Appropriations 3,719,645.99 3,720,284.04 (638.05) (0.13)

8. 2019 Water Utility Appropriations Category 2019 2018 Difference Total Appropriations 1,927,762.89 1,917,116.24 10,646.65 Major Components S&W OE Capital Improvement Fund Debt Service Total Major Components 255,120.00 1,303,124.86 283,921.73 1,220,073.00 90,000.00 262,120.12 1,856,114.85 (28,801.73) 83,051.86 (90,000.00) 49,372.66 13,622.79 0.00 311,492.78 1,869,737.64 All Other Appropriations 58,025.25 61,001.39 (2,976.14)

9. 2019 Sewer Utility Appropriations Category 2019 2018 Difference Total Appropriations 4,817,888.21 4,617,006.47 200,881.74 Major Components S&W OE Capital Improvement Fund Debt Service Police Pensions Total Major Components 470,270.00 3,167,347.52 446,735.12 2,923,741.36 100,000.00 1,050,466.35 56,514.19 4,577,457.02 23,534.88 243,606.16 (100,000.00) 15,838.38 9,577.57 192,556.99 0.00 1,066,304.73 66,091.76 4,770,014.01 All Other Appropriations 47,874.20 39,549.45 8,324.75

10. 2019 Capital Budget Description Total Cost Current Funding Future Funding General Capital Parking Facilities Projects Borough Hall Projects Road Improvements Vehicles 11,000,000 2,250,000 600,000 600,000 1,250,000 75,000 9,750,000 2,175,000 600,000 600,000 0 0 Water Capital Main Replacement Program 1,500,000 0 1,500,000 Sewer Capital Treatment Plant Upgrades Main Reconstruction/Replacement 750,000 250,000 750,000 250,000 0 0 Total Capital 16,950,000 2,325,000 14,625,000

11. 2020 Expectations Complete Establishment of 4 Utilities by January 1 Implement All Agreed-to Shared Services by January 1 Implement Comprehensive Parking Plan Technology, Private Coordination and Revised Fee Structure by January 1 New Parking Deck by December 31 Begin Implementation of Sewer Plant Upgrades from I & I Study by January 1 Complete Demolition of Deck and Construction of CC Surface Lot by June 1 Adopt Downtown Redevelopment Plan for Implementation on January 1 Start 5 Year Tax Abatement Program on January 1 Commence Collection of Sewer Fee in-lieu of Taxes on January 1 Repair All Roofs by January 1 Acquire Site Control of New Borough Hall Site by April 1 Commence Construction of New Boro Hall by July 1 Continue Water. Sewer and Road Reconstruction Programs