City of HobokenCity of HobokenCY 2011CY 2011
Introduced Municipal & Introduced Municipal & Parking Utility BudgetParking Utility Budget
SFY 2011 Budget SummarySFY 2011 Budget Summary
APROPRIATIONSAPROPRIATIONS
Operations:Operations:Within CAPS $83,587,271Within CAPS $83,587,271Total S&WTotal S&W$37,645,600$37,645,600Total O.E.Total O.E.$35,183,141$35,183,141Statutory Expenditures $10,734,812Statutory Expenditures $10,734,812Outside Cap $14,842,225Outside Cap $14,842,225Capital Improvements $ 250,000Capital Improvements $ 250,000Municipal Debt Service $6,302,805Municipal Debt Service $6,302,805Total Deferred Charges $1,978,102Total Deferred Charges $1,978,102Judgments $400,000Judgments $400,000Reserve For Uncollected TaxesReserve For Uncollected Taxes$3,292,369$3,292,369
Total General Appropriations $101,721,865Total General Appropriations $101,721,865
REVENUESREVENUES
Surplus Anticipated $9,585,000Surplus Anticipated $9,585,000Miscellaneous Revenues:Miscellaneous Revenues:Local Revenue $22,646,749Local Revenue $22,646,749State Aid $11,113,035State Aid $11,113,035UCC Fees $683,500UCC Fees $683,500Other Special RevenueOther Special Revenue$2,563,202$2,563,202Total Miscellaneous RevenueTotal Miscellaneous Revenue$37,665,313$37,665,313Subtotal General Revenue $47,643,623Subtotal General Revenue $47,643,623Amount To Be Raised by TaxesAmount To Be Raised by Taxes$54,078,242$54,078,242
Total General Revenues $101,721,865Total General Revenues $101,721,865
What Does This Budget DoWhat Does This Budget Do
Reduces the Amount To Be Raised by 5.17% From TY10 and 9.91%Reduces the Amount To Be Raised by 5.17% From TY10 and 9.91%From FY10 While:From FY10 While:
Including 4 Year Salary Settlement with PBA and SOA including ReIncluding 4 Year Salary Settlement with PBA and SOA including RetrotroPayPay
Absorbing $1,288,446 or 17.6% Increase to PensionAbsorbing $1,288,446 or 17.6% Increase to Pension
Absorbing an Increase in General Liability and Health Benefits oAbsorbing an Increase in General Liability and Health Benefits of Overf Over$2 Million or 11%$2 Million or 11%
Including Amounts for Reserve for Uncollected Taxes, Tax AppealsIncluding Amounts for Reserve for Uncollected Taxes, Tax Appeals, PY, PYEmergency Appropriations Not in FY10 equaling $5,127,369Emergency Appropriations Not in FY10 equaling $5,127,369
Including a Reduction in Debt Service of $2,357,000.00 from FY10Including a Reduction in Debt Service of $2,357,000.00 from FY10
Reduction In Total Salaries by $2,895,000 (approximately $4 millReduction In Total Salaries by $2,895,000 (approximately $4 millionioninclusive of retroactive pay) from FY10inclusive of retroactive pay) from FY10
Absorbing a Reduction of State Aid of $3,400,000 from FY10Absorbing a Reduction of State Aid of $3,400,000 from FY10
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