Town of Belvidere

2012 Budset Issues

Ausust 15,2011

1)

The budget, as presented, is extremely tentative, and subject

to substantial changes. Changes in state aid, pension, debt service,
insurance costs, and available fund balance are all likely.

2)

The budget, as presented, is below the expenditure CAP.

3)

The budget, as presented, exceeds the tax Ievy CAP by

approximately $1871200. This means that either appropriation
reductions must be made, or additional revenue sources must
be identified in order to be compliant with the tax levy CAP.

4)

The maximum tax lely allowed in 2012 will be approximately

$2,095,286. This is an increase of $2721372 over the 2011 levy.
Approximately $202,000 of this increase will be caused by increases
in debt service. The actual amount will not be known until the bonds
are sold on 9/27lll.

5)

The increase to the average residential taxpayer will be

approximately $20.12 per month, or a 14.967o increase in local
taxes.

08/15/20I I

Town of Belvidere
Preliminary Proiected 2012 Tax Rate

CAP

Maximum allorved Under CAP

Appropriations:
Operations within CAP
Operations excluded from CAP
Capital Improvements
Debt Service
Deferred Charges excluded from CAP
Amount over tax levy CAP
To tal projected appropriations

2,759,737

Local school tax @stimate)

3,368,000

Counfy tax @stimate)

Revenues (Other than local taxes)

2,904,555

144,818

99,616
25,000

377,414
13,800

(187,200)
3,088,367

1,590,000

8,046,367
(1,092,770)
619531597

Reserve for uncollected taxes (97.35%)

Total projected 2012 tax Ievy
20 12

Iibrary appropriation

189,286.41
7

rl42,gg3
89,597

Components of 2012 proiected tax levy:

Local tax
Local tax for
School tax
Counfy tax

lillrary

2,095,286.41
89,597.00
3,368,000.00
1,590,000.00

2,095,343 maximumallowed

_J_J42.883lL

@stimated)

Increase

Percentage
Increase

20tt

(Decrease)

(Decrease)

Projected 2011 tax rate:

2012

Local tax
Local tax for library
School tax
County tax

t.521

L.323

0.198

0.065

0.065

0.000

2-445
1.154

2.445
1.154

(0.000)
0.000

5.185

4.98'.7

0.1 98

1,856

1,614

Increase
(Decrease)
241

79

79

2,983

21983

Estimated 2Al2 net valuation taxable

__137_Jj!f2t

Number of residential properties

834

Assessed value

Average assessed value

Effect ofprojected tax rate on a house assessed at

101,130,000
121,259

County tax

Monthly

$122,000

20tl

2012

Local tax
Local tax for library
School tax

14.960h

1,408

1,408

6,325

6,084

241

Increase
(Decrease)
20.12

Town of Belvidere
Proposed Revenues
Other than Current Taxes
2012 Budeet

08/15/201

Anticipated
Description
Fund Balance Anticipated
ABC Licenses
Municipal Court
Interest and Costs on taxes
Interest on Investments
Consolidated Municipal Property Relief Act
Energy Receipts Tax
Garden State Trust Fund
Construction Code fees

DOT grant
Capital Reserve for Debt Service
Utility Surplus of prior year - sewer
Utility Surplus of current year - sewer
Cable TV franchise fee
Reserve for Municipal AIIiance grant
Reserve for Clean Communities

2012
170,000.00
8,700.00
69,000.00
37,000.00
13,229.00
462,911.40
3,430.00
23,000.00

Delinquent Taxes

Realized

20tL

20tt

191,350.00
8,700.00

69,000.00
37,000.00
13,229.00

462,9tt.00
3,430.00
23,000.00

141,300.00

141,300.00
86,000.00
67,000.00

8,200.00

8,200.00

Forestry Grant
Additional Construction code fees
Reserve for Highlands Master PIan Grant
Reserve for DDEF
Recycling Tonnage Grant
Reserve for body armor replacement fund
reserve for Recycling tonnage grant
Reserve for Comcast grant

3,000.00

3,768.14
1,619.59

6,702.43
10,000.00

156,000.00
lro92r77o.o0

156,000.00
L12921210.16

0.00

Town of Belvidere
2012 Budeet Worksheet
2011

Appropriation

20lZ
Proposed
Budget

Adopted

Budgei
O{odified)

Mayor and Council:

s&w
otE

15,112.00
1,000.00

7,936.00

99,000.00

99,000.00

27,000.00

27,000.00

31,551.00
18,000.00

31,551.00

1?,850.00

17,500.00

20,164.00

20,164.00

1,000.00

Municipal Clerk:

s&w
o/E:

0.00

Records Managenrent
Miscellaneous Other Expenses

Codification
Financial Adnrinistmtion:

s&w
otE

18,000.00

Audit Senicesr

otl,
Asessment of Taxes:

s&w
o/E
Tax Appeals
Miscellaneous Other ExpeDses

3,645.00

3,645.00

Collection of Taxes:

s&w
o1E

12,001.00
2,835.00

12,001.00

11,001.00

r1,001.00

10,000.00

10,000.00

10,000.00

10,000.00

20,600.00

20,600.00

28,000.00
1,000.00

28,000.00

2,835.00

Legal:

s&w
o/E:
Miscellaneous
Special Litigation
Prosecutor:

otE
Engineering;

olE
Buildings & Grounds:

s&w
OlEt
Repairs and Replacements
Scout florne Maintenance

1,000.00

Econonic Development:

o/a

0.00

Planning Bd.:

s&w

4,703.00

4,703.00

6,300.00

6,300.00

5,762.00
300.00

5,762.00

13,500.00

13,500.00

2,,139.00

2,439.00

4,500.00
40,000.00

40,000.00

o/E:
Elousing Element

Ordinance Revisions
Miscellaneous
Bd. of Adjustment:

s&w
olE
Zoning Officer:

s&w
otE

300.00

Shade Tree Commission:

s&w
olE
Firel

s&w
otB:
Turn out gear
Donation to Volunteer Fire Company

of 4

08/15r2011

4,5oo.oo

2O1l
Experded

2of4

Town of Belvidere
2012 Budget Worksheet

08/15/201

(Continued)
2011

2012
Adopted
Proposed Budget
(Modified)
Budget

Appropriation
Police:

s&w

675,000.00

650,000.00

32,684.00
10,000.00

32,684.00

o/E:
Miscellaneous Other
Police

Expenses

Car

10,000.00

Emergency Management Services;

s&w
o/E

4,001.00
1.00

4,001.00
1.00

Road repairs and Maintenance:

s&w
o/E

410,000.00
90,000.00

400,000.00

30,000.00

30,000.00

80,000.00

Rescue squad:

o/E
Animal Control Fund:

s&w

4,372.00

4,372.00

Parks and Playgrounds:

s&w
o/E

0.00

1.00

1.00

Celebration of Holidays and Anniversaries:

o/E

1,000.00

1,000.00

Environmental Commission:

o/E

320.00

320.00

Recycling:

s&w

3,189.00

3,189.00

2,401.00
300.00

2,401.00

Ilistoric Preservation Committee:

s&w
otE
Utility

300.00

Expenses:

Electricity
Telephone
Sewer Rentals
Bulk Fuel
Fire Hydrant Service

63,000.00
27,000.00
L,500.00
55,000.00
25,000.00

63,000.00

69,000.00
s,000.00

69,000.00

2,000.00

2,000.00

27,000.00
1,500.00
55,000.00

25,000.00

Municipal Court:

s&w
o/E

5,000.00

Public Defender:

s&w

20ll
Expended

Town ofBelvidere
2012 Budeet Worksheet (Continued)

20tt
2012

Appropriation

Adoptetl

Proposed

Budget

20tt

Burlget

(Modified)

Expended

Insurance:
General

Liability

199,000.00

199,000,00

240,240.00

240,240.04

Workers Compensation
Employee Group Health

Construction Cotle Offrcial:

s&w
o/E
Landfill Tipping Fees:
o/E

Contingent
Total Operations in CAP

23,000.00

1,000.00

2,000.00

2,000.00

98,000.00

98,000.00

100.00

100.00

2,479,372.00

2,424,846.00

0.00

1,415,296.00
1,064,076.00

1,371,120.00

0.00

1,053,726.00

0.00

Detail:

s&w
o/E
PERS

86,699.00

106,760.00

FICA

105,000.00

105,000.00

PFRS

73,666.00

64,900.00

SUI

15,000.00

15,000.00

Over expentlitures of appropriations

Total appropriations inside CAP

2,'.l59,',73'.7.00 2,716,506.00

Orrerations outside CAP

Appropriation
Maintenance of Free Public Library
Employee Group Health

92,356.00

92,356.00

1,260.00

7,260.00

PERS
PFRS

PARIS grant
Clean Commurrities Program

Body Armor grant

Municipal Alliance Program:

State Share

Local Share
Recycling Tormage Grant
Stormwater Management grant

1,197.00
3,768.14

3 of

08/15/201

4of4

Torvn of Belvidere
2012 Budset Worksheet (Continued)

08/rs/201
2011

Appropriation

2012

Adopted

Proposed

Budget

7011

Budget

(Modified)

Expended
'7,025.13

for Clean Communities

Reserve for Body Armor Replacement Fund
Reser-ve for Highlands Master Plan Grant
Reser-ve for DDEF
Reser-ve

5,000.00
2,628.03

Forestra Grant

3,000.00

Reserve for tlody armor replacement fund

1,619.59

Reserve for Recycling tonnage grant

6,702.43

Reser-ve

lbr

Comcast grant

6,993.00

10,000.00

Reserve for Municipal alliance grant

for forestra grant

Reser-ve for Paris grant
Reserrye

Operations Excluded from CAP

99,616.00

125,903.16

21,646.16

Detail:

s&w
olE

0.00
99,616.00

125,903.16

21,646.16

Capital:
Capital Improvement Fund

25,000.00

DOT grant
Subtotal-Capital

25,000.00

0.00

Bond Principal

180,000.00

100,000.00

Note Principal

64,500.00

31,921.00

Interest on Bonds

105,189.00

13,519.00

Interest on Notes

27,725.00

29,403.00

377,414.00

174,843.00

0.00

Debt Seruice:

Subtotal-Debt Service

0.00

Deferred Charges:
Emergency

8,400.00

Special emergency

5,400.00

Deferred Charges

5,400.00

13,800.00

5,400.00

0.00

Total Appropriations Outside CAP

515,830.00

306,146.16

21,646.16

Reserve for Uncollected Taxes

189,286.41

182,068.53

Total Appropriations

3,464,853.41 3,204,720.69

182,068.53
203,714.69