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Scranton 2013 Budget

Scranton 2013 Budget

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Published by PAindy
Proposed budget for the city of Scranton, PA, for 2013. Budget calls for 12 percent tax hike on residents and a new 1 percent tax on commuters.
Proposed budget for the city of Scranton, PA, for 2013. Budget calls for 12 percent tax hike on residents and a new 1 percent tax on commuters.

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Published by: PAindy on Nov 16, 2012
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12/04/2012

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2013 Budget Highlights
Financial Overview
On August 23, 2012, the City of Scranton took the first step in restoring long termfiscal stability and repairing the City’s creditworthiness by adopting a new RecoveryPlan that replaces the 2002 Recovery Plan. The new Recovery Plan provides the fiscalframework for the City’s governing bodies to follow through 2015.The 2013 Budget calls an aggressive approach to current revenues. The 2013Budget calls for a tax increase of 12%. Additional revenue enhancements such asincreasing the current Real Estate Transfer tax from 2.8% to 2.9% will allow the City ofScranton to receive an additional $555,000. The adoption of an Amusement Tax will netthe City of Scranton $200,000 of new revenue in 2013.In 2013, the elected leadership of the City of Scranton has decided to aggressivelypursue the large non-profits within the City of Scranton. The 2013 Budget has budgeted$1,300,000 in 2013 for their PILOT program. Lastly, the 2013 Budget includes aCommuter Tax at 1%. The Commuter Tax is pending Court approval and if this takesplace it would generate $2,500,000 in 2013
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The budget maintains adequate reserves inall funds for the City and includes appropriate funds to meet required debt servicepayment on outstanding general obligation debt.With respect to expenditures within the 2013 Budget the City of Scranton hasbudgeted the Supreme Court arbitration awards to the Police and Fire Departments forback pay, etc. Additionally, the City of Scranton’s minimum municipal pensionobligation has increased by 5 million dollars in 2013.A sustainable City has many components, including ensuring safety at home,work, and leisure, protecting the vitality of our arts, cultural, and recreationalamenities, preserving our parks, and caring for the health and well-being of ourcitizens. These principles continue to shape the budget and City service delivery. Theproposed budget includes several expenditures which contribute to the furtherdevelopment of these goals.
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