Description of Budget Cycle

Transcription

1 Description of Budget Cycle The budget process in the City of Yonkers begins in December each year when budget preparation packages are sent to departments by the Office of Management and Budget. The departments and related entities (i.e., Yonkers Public Library, Hudson River Museum) return to OMB their operating budget forms with estimates of revenue and expenditures for the ensuing fiscal year. Departments also provide four-year estimates for their capital projects. The capital budget requests are reviewed by the Capital Improvement Program Committee for their recommendation to the Mayor. Operating budget estimates are reviewed and analyzed by OMB staff, and budget meetings are held with each City department or agency. The proposed operating budget of the City is then prepared by the Mayor for submission to the City Council. The Mayor is required by the City Charter to submit the City Budget by April 15. The Mayor s budget includes estimates of expenditures for each department of the City as well as estimates of revenues from all sources, including ad valorem real property taxes. The Board of Education submits to the Mayor an estimate of its anticipated expenditures, and the Mayor is responsible for recommending to the City Council the amount to be appropriated for educational purposes. Adoption of the operating budget by the City Council follows a public hearing and is required to occur by June 1 unless the State Budget is adopted late. In that case, the City has thirty days to adopt the budget after the adoption of a State Budget. The Mayor has the power to veto the budget approved by the City Council, and the Council can override the Mayor's veto with a 2/3 majority vote. The City Council also adopts the Capital Budget and also adopts bond ordinances for specific capital projects at that time to finance the projects. Upon the adoption of the budget, the tax rate and levy are determined for the ensuing year. Under the Special Local Finance and Budget Act of the City of Yonkers, constituting Chapter 488 and 489 of the Laws of 1976 for New York State, the Budget must be approved by the New York State Comptroller and cannot thereafter be amended. The City Council and the Mayor may, during the course of the year, revise appropriations and make fund transfers with respect to general operations. In addition, all councilmanic transfers must be approved by the New York Office of the State Comptroller. B-1

2 The City of Yonkers Budget Preparation Timeline Fiscal Year 2017 December 2015 January 2016 December 18, 2015 Finance Department kicks off budget process via a memo to department heads with budget preparation instructions February 2016 January 22, 2016 Departments submit budget requests to OMB for review February March 2016 OMB Departmental Budget Meetings March 2016 April 2016 March April 2016 Formulation of Budget April 15, 2016 Mayor submits Budget to City Council May 2016 June 2016 April May 2016 City Council Budget Committee Public Hearings and City Council Public Hearings on Budget June 2016 Budget July 2016 July 2016 July 2016 Budget Certification by NYS Comptroller s Office July 2016 Budget Implemented B-2

3 Revenue and Expenditure Summary FY 2015 Actual Current Projection Revenues Property Taxes $ 335,479,678 $ 341,072,515 $ 341,072,515 $ 341,072,515 $ 345,287,504 Special Taxes 144,651, ,726, ,726, ,581, ,211,269 State and Federal Funding 109,974, ,808, ,808, ,576, ,841,179 City Departments 35,593,438 34,359,086 34,353,066 37,176,940 39,112,850 Other Revenues 76,273,670 40,934,127 40,934,127 45,012,691 41,795,193 Appropriated Fund Balance - 37,494,895 37,494,895 37,494,895 37,950,372 Reserve for Encumbrances - - 1,725,662 1,725,662 - Total Revenues - Subtotal $ 701,973,072 $ 721,395,604 $ 723,115,246 $ 737,640,744 $ 754,198,367 Library Fund 157, , , , ,901 Water Fund 33,315,194 40,313,246 40,382,497 39,251,775 40,869,352 Sewer Fund 6,055,219 7,153,282 7,159,106 7,122,781 7,041,489 Board of Education 337,881, ,690, ,906, ,030, ,927,621 Total Revenues - All Funds $ 1,079,382,412 $ 1,070,298,362 $ 1,074,308,778 $ 1,083,791,449 $ 1,115,013,730 Expenditures City Departments $ 271,927,941 $ 293,057,770 $ 294,617,021 $ 293,102,021 $ 307,030,080 Fringe Benefits 130,030, ,034, ,038, ,988, ,277,726 Special Items 45,598,935 34,527,069 34,758,552 36,455,462 39,294,677 Board of Education 500,454, ,314, ,530, ,643, ,312,202 Subtotal $ 948,012,039 $ 992,934,425 $ 996,944,841 $ 990,190,235 $ 1,029,914,685 Debt Service 79,171,135 77,363,937 77,363,937 75,003,004 85,099,045 Total Expenditures $ 1,027,183,174 $ 1,070,298,362 $ 1,074,308,778 $ 1,065,193,239 $ 1,115,013,730 Revenues vs. Expenditures $ 52,199,238 $ - $ - $ 18,598,210 $ - B-3

4 Description of Major Revenue Sources A. Municipally-Generated Revenues The primary municipally-generated revenues include, in order of magnitude, Real Property Tax, Sales and Use Tax, Income Tax Surcharge and Real Property Transfer Tax. Real Property Tax: The City is responsible for levying taxes for City and Board of Education purposes. The City's property tax levying powers, other than for debt service and certain other purposes, are limited by the State Constitution to two percent of the five-year average full valuation of taxable real property of the City. The State Board of Equalization and Assessment annually establishes State Special Equalization Rates for the City, based on statistical sampling of market sales/assessment studies. The Special Ratio is applied to the Assessed Valuation as determined by the City Assessor to yield the Full Valuation. The last City-wide reassessment of all properties was undertaken in However, the Assessment Department regularly inspects properties to ensure that new construction or demolitions are properly on the City s assessment roll reflected. Property taxes become payable upon levy of such taxes by the City Council. Taxes are payable in three equal installments, usually in July, October and January. Penalties are assessed for delinquencies at a rate of 15% per annum. The City succeeds each year in collecting approximately 96% of taxes levied in a given fiscal year. The General Fund accounts for the full receipt of the tax levy, including the portion of the levy raised for the Board of Education and that portion of the levy deposited in the Debt Service Fund for the payment of capital debt service. The total assessed valuation roll for general City tax and School Tax partially exempts certain properties owned and occupied by veterans. All provisions for uncollected taxes are charged against the general City budget. The Board of Education receives its tax levy for operations in full from the City. Sales Tax: Currently an 8.875% sales and use tax is imposed on all retail sales in the City. Revenues from that tax are apportioned 4.0% to the State, 2.5% to the City, 0.5% to the Yonkers School District (subject to approval of the Yonkers City Council), 1.5% to the County and 0.375% to the Metropolitan Transportation Authority. The 2.5% City sales tax includes the 1.0% City Special Sales Tax enacted pursuant to Chapter 871 of the Laws of 1975, and the City's right to impose the additional tax may not be preempted by any other governmental body. The 0.5% School District sales tax was enacted pursuant to Bill S05993A of The proceeds of the Special Sales Tax are deposited directly into the Debt Service Fund by or on behalf of the State Comptroller for the purposes of paying principal of and interest on outstanding City indebtedness. B-4

5 Income Tax Surcharge: Chapter 345 of the Laws of 1984, which became effective on July 3, 1984, authorized the City to enact a local law imposing an income tax surcharge on residents of the City at a rate not to exceed 19.25% of the net State tax, and permitted the City to impose a City tax on the gross earnings of non-residents employed in the City at a rate not to exceed onehalf of one percent (collectively, the "Income Tax Surcharge"). As of January 1, 2014, the resident City tax rate is 16.75% of the net State tax and the non-resident tax is one half of one percent. The law provided that such Income Tax Surcharge could be imposed for the period January 1, 1984 through December 31, 2011, and would be administered, collected and distributed by the State Tax Commission. Pursuant to the authority granted by the State statute, the City enacted a local law imposing the Income Tax Surcharge. The NYS Governor and the State Legislature extended the authorization to December 31, Real Property Transfer Tax: The City currently receives 1.5% of the gross sale amount from the seller upon the transfer of real property, and the FY17 Budget proposes to increase the tax to 3.0% of the gross sale amount with a 0.25% rate reduction each subsequent Fiscal Year until such time as rate is 1.5% in FY23. For cooperative apartments, the tax is imposed only when a building converts to co-op use, not when individual units are offered for sale. B. Intergovernmental Revenues The principal sources of economic funding furnished by the State to the City are State funding to education, per capita revenue sharing, municipal overburden and State local assistance funding. Additionally, there are several lesser funding, grant and shared revenue programs, including the mortgage tax (collected for the City and the State by the County at the rate of $.50 per $100 of mortgages), traffic violation fines (collected for the City by the State), and State youth program funds (received on a matching basis for both recreational and delinquency prevention programs). The City also enacted in the 1994 fiscal year budget a City mortgage tax at the rate of $.50 per $100 of mortgages. The County of Westchester collects the tax for the City. The NYS Governor and the State Legislature extended the authorization to August 31, State Funding to Education: Basic formula funding is based upon enrollment, attendance and approved expenses. The amount of other funding distributed to the Board of Education is fixed in the authorizing State legislation. In addition, the City receives funding for such earmarked purposes as educationally disadvantaged pupils, occupational education and handicapped pupils. Aid and Incentives for Municipalities (AIM): This funding is an annual appropriation from the State that the City may use for any municipal purpose without restriction. B-5

6 Revenue Summary FY 2015 Actual Current Projection Property Taxes $ 335,479,678 $ 341,072,515 $ 341,072,515 $ 341,072,515 $ 345,287,504 Special Taxes Sale and Use Tax $ 72,828,807 $ 75,680,637 $ 75,680,637 $ 72,004,660 $ 74,164,799 Sale and Use Tax - Education 11,352,096 11,352,096 11,352,096 14,832,960 Raceway Admissions 28,013 32,000 32,000 32,000 30,000 Utilities Gross Receipts 7,416,656 7,528,894 7,528,894 7,528,894 7,528,894 Supplemental Real Estate Tax 475, , ,000 2,200, ,000 Real Estate Transfer Tax 9,895,128 8,712,006 8,712,006 9,783,308 19,566,616 O.T.B. Surcharge 152, , , , ,000 Multiple Unit Dwelling Tax 144, , , , ,900 E.T.P.A. Adm. Charge 210, , , , ,600 City & State Mortgage Tax 5,850,296 5,737,901 5,737,901 8,900,000 8,900,000 Hotel Room & Occupancy Tax , ,000 Income Tax Surcharge 47,650,160 48,572,768 48,572,768 52,500,000 54,337,500 Total - Special Taxes $ 144,651,811 $ 158,726,802 $ 158,726,802 $ 165,581,458 $ 181,211,269 State & Federal Funding AIM Funding $ 108,215,479 $ 108,215,479 $ 108,215,479 $ 108,215,479 $ 108,215,479 SAFER COPS 645, Veterans Services 12,793 12,700 12,700 12,700 12,700 Court Facilities 420, , , , ,000 County of West. - CMHB 173, , , , ,000 FEMA Reimbursement State 1, ,228 - FEMA Reimbursement Federal 505, ,176 - Total - State and Federal Funding $ 109,974,476 $ 108,808,179 $ 108,808,179 $ 109,576,583 $ 108,841,179 City Departments $ 674,820 $ 143,000 $ 143,000 $ 320,000 $ 250,000 City Clerk 230, , , , ,000 Corporation Counsel 25,522 1,550 1,550 30,000 1,550 Finance and Mgt. Services 88,984 87,950 87,950 87,950 87,950 Parking Violations Bureau 17,142,461 17,300,000 17,300,000 18,825,000 19,300,000 Consumer Protection 1,077, , , , ,350 Civil Service 29, , , ,000 36,750 Planning and Development 78,409 68,000 68,000 68,000 68,000 Police 3,768,525 2,752,680 2,752,680 3,618,300 3,618,300 Fire 3,560,959 3,538,000 3,538,000 3,560,000 3,621,250 Public Works 529, , , ,200 2,043,200 Engineering 511, , , , ,000 Parks 2,466,782 2,886,719 2,880,699 2,700,819 2,852,500 Housing and Buildings 4,455,259 4,315,321 4,315,321 4,715,321 4,700,000 Courts Fines 952, , , , ,000 Total - City Departments $ 35,593,438 $ 34,359,086 $ 34,353,066 $ 37,176,940 $ 39,112,850 Other Revenues Prior Year Tax Payments $ 16,198,154 $ 9,139,364 $ 9,139,364 $ 9,139,364 $ 11,648,517 Interest on Investment 93, , , ,250 40,500 Interest on Taxes 4,494,675 4,302,303 4,302,303 4,302,303 4,410,000 Cable Television Fees 4,347,760 4,606,115 4,606,115 4,606,115 4,606,115 Rent on City Property 454, , , , ,000 Maintenance of State/Co. Roads 476, , , , ,485 Payments in Lieu of Taxes 19,448,658 18,600,870 18,600,870 18,879,434 15,602,900 Yonkers Raceway Impact Fees 2,500,000 1,000,000 1,000,000 1,000,000 1,000,000 B-6

7 Revenue Summary FY 2015 Actual Current Projection County Prisoner Processing 365, , , , ,801 Sale of Property 7,838, , ,000 4,100, ,000 Miscellaneous 4,530,605 1,012,000 1,012,000 1,012,000 1,012,000 QSCB Interest 565, , , , ,557 Proceeds from Obligations 14,924, Interest for Debt Service 35, Appropriated Fund Balance (Debt Svc) - 1,338,318 Subtotal $ 76,273,670 $ 40,934,127 $ 40,934,127 $ 45,012,691 $ 41,795,193 Appropriated Fund Balance (General) - 37,494,895 37,494,895 37,494,895 37,950,372 Reserve for Encumbrances (General) - - 1,725,662 1,725,662 - Total - Other Revenues $ 76,273,670 $ 78,429,022 $ 80,154,684 $ 84,233,248 $ 79,745,565 Library Fund Rental of Real Property $ 11,410 $ 11,160 $ 11,160 $ 11,160 $ 11,160 Fees and Fines 64,978 65,300 65,300 65,300 65,300 Miscellaneous Library 11,832 41,050 41,050 41,050 41,050 State Funding 69,661 47,560 47,560 47,560 47,560 Subtotal $ 157,881 $ 165,070 $ 165,070 $ 165,070 $ 165,070 Appropriated Fund Balance (Library) - 580, , , ,831 Reserve for Encumbrances (Library) Total - Library Fund $ 157,881 $ 745,400 $ 745,400 $ 745,400 $ 976,901 Water Fund Water Frontage Tax $ 4,095,918 $ 4,095,295 $ 4,095,295 $ 4,095,295 $ 4,095,295 Metered Water Sales 28,461,432 32,102,746 32,102,746 30,842,564 35,776,557 Sundries and Interest 757, , , , ,500 Subtotal $ 33,315,194 $ 37,052,581 $ 37,052,581 $ 35,921,859 $ 40,869,352 Appropriated Fund Balance (Water) - 3,260,665 3,260,665 3,260,665 - Reserve for Encumbrances (Water) ,251 69,251 - Total - Water Fund $ 33,315,194 $ 40,313,246 $ 40,382,497 $ 39,251,775 $ 40,869,352 Sewer Fund Sewer Rents $ 5,912,175 $ 7,384,397 $ 7,384,397 $ 7,348,072 $ 7,848,783 Other 143, , , , ,000 Subtotal $ 6,055,219 $ 7,562,397 $ 7,562,397 $ 7,526,072 $ 8,040,783 Appropriated Fund Balance (Sewer) - (409,115) (409,115) (409,115) (999,294) Reserve for Encumbrances (Sewer) - - 5,824 5,824 - Total - Sewer Fund $ 6,055,219 $ 7,153,282 $ 7,159,106 $ 7,122,781 $ 7,041,489 B-7

8 Revenue Summary FY 2015 Actual Current Projection Board of Education State Funding - Basic $ 238,522,402 $ 256,901,962 $ 256,901,962 $ 251,575,006 $ 272,468,377 State Additional Chapter 1 Accrual State Funding - Categorical 5,435,255 5,434,755 5,434,755 5,434,755 5,434,755 State Funding for VLTs 19,600,000 19,600,000 19,600,000 19,600,000 19,600,000 State Funding - Additional Aid 28,000,000 16,000,000 16,000,000 16,000,000 11,000,000 State Funding - Prior Year Adj 1,425,226 Deficit Financing 42,047,191 - Federal Aid 560, , , , ,600 Department 426, , , , ,310 Interfund Rev./Indirect Cost 834, , , , ,105 Misc. Departmental /Fines 2,454,915 1,180,813 1,180,813 1,101,808 1,081,382 Saunders Trust Fund Interest for Debt Service Appropriated Fund Balance (Debt Svc) 720,092 Subtotal $ 337,881,046 $ 300,690,830 $ 300,690,830 $ 296,815,050 $ 311,927,621 Appropriated Fund Balance (Education) Reserve for Encumbrances (Education) - - 2,215,699 2,215,699 - Total - Board of Education $ 337,881,046 $ 300,690,830 $ 302,906,529 $ 299,030,749 $ 311,927,621 Total Revenues $ 1,079,382,412 $ 1,070,298,362 $ 1,074,308,778 $ 1,083,791,449 $ 1,115,013,730 B-8

9 Description of Major Expenditures Departmental Expenses The city departmental budget is composed of the administrative and operating departments of the City of Yonkers. Appropriations that are budgeted in the City departmental expenditures are personal service, equipment, material and supplies, and contractual services. Board of Education Operating Expenses The City, by State law, is required to appropriate funds for the Yonkers Public School System. Fringe Benefits Employee Retirement System (ERS) and Police and Fire Retirement System (PFRS) Expenses: The City makes annual payments to the New York Retirement System, which in turn is responsible for making pension payments to eligible retirees. The system is overseen by the New York State Comptroller. Social Security: The City is required to contribute to the Social Security Trust Fund 7.65% of the first $118,500 and l.45% thereafter from salaries. Hospital and Medical Insurance: The City provides hospitalization and medical benefits through various programs. Depending on the union affiliation and the length of service of employees, the City is required to contribute to this insurance program. In addition, this expense includes the City's contribution for Health Insurance for retirees. Workers Compensation: The City is self-insured for Workers Compensation. The City directly finances the cost of medical and compensation payments to employees that are hurt on the job. The City has hired a private company for administering the workers compensation program. Trust and Welfare Payments: The City is required to pay various union welfare plans as part of negotiated contracts. There are seven unions that currently receive these benefits. Fire Department 207A Retirement: The City is required to supplement the State pension of various firefighters who have retired due to disabilities that these individuals incurred on the job. Metropolitan Commuter Transportation Mobility Tax (MCTMT): The City is required to pay 0.34% on all non-school district employee wages. B-9

10 Debt Services Expense The City is required to pay principal and debt on bonds that were borrowed to finance capital projects and tax assessment repayments. Special Items Taxes on City Property: The City is required by State Law to pay real estate taxes on property that is owned by the City but is not used for municipal purposes. Reserve for Uncollected Taxes: The City reserves all current and prior years real property taxes that are not collected within 60 days of the close of the fiscal year. The budgeted amount is based on a formula that was included in the Special Local and Finance Act for the City of Yonkers that was passed by New York State in Termination Payments: The City is required to pay accrued vacation time and severance pay for employees who have resigned or are terminated. Litigation Expenses: The City pays outside counsel from this account. B-10

11 Expenditure Summary FY 2015 Actual Current Projection City Departments $ 1,762,685 $ 2,085,031 $ 2,100,748 $ 2,100,748 $ 2,085,031 Legislative 2,484,015 2,798,578 3,195,661 3,195,661 2,993,517 Corporation Counsel 2,403,757 2,831,462 2,835,585 2,735,585 2,870,937 Finance and Mgt. Services 13,459,263 15,987,502 16,001,491 15,751,491 16,625,861 Human Resources 3,497,932 4,141,337 4,141,337 4,066,337 3,904,998 Information Technology 6,006,653 6,437,262 6,516,340 6,341,340 7,151,060 Planning and Development 1,852,970 1,930,362 1,978,302 1,843,302 1,955,508 Police 91,352,236 93,236,478 93,426,005 94,426,005 97,652,269 Fire 57,827,002 61,909,816 62,130,122 63,130,122 68,689,711 Public Works 65,803,154 72,573,380 73,123,452 70,673,452 73,163,158 Engineering 2,367,836 2,613,161 2,620,173 2,570,173 2,809,364 Parks 10,449,515 12,419,883 12,446,768 12,316,768 12,671,426 Housing and Buildings 2,751,395 3,075,531 3,075,667 2,925,667 3,071,904 Constituent Services 856, , , , ,730 Inspector General 466, , , , ,490 Veterans Services 365, , , , ,199 Human Rights 61, , , , ,000 Library 7,963,777 8,838,904 8,838,904 8,838,904 9,153,417 Museum 196, , , , ,500 Total - Departmental Expenditures $ 271,927,941 $ 293,057,770 $ 294,617,021 $ 293,102,021 $ 307,030,080 Fringe Benefits Employee Retirement 12,375,763 14,566,782 14,566,782 12,766,782 14,268,495 Police & Fire Retirement 35,856,124 37,893,398 37,893,398 34,993,398 38,369,105 Social Security 14,893,322 16,201,741 16,201,741 16,201,741 16,596,981 Workers' Compensation 9,596,122 11,300,000 11,300,000 12,800,000 11,300,000 Life/Health/Dental Ins. 51,276,532 54,386,502 54,390,485 54,390,485 58,005,421 Trust & Welfare Payments 3,883,196 4,354,817 4,354,817 4,354,817 4,629,399 Local Pension Plan 64,525 71,050 71,050 71,050 52,200 Unemployment Insurance 165, , , , ,110 Fire 207A Supple. Pension 1,919,338 2,085,547 2,085,547 2,235,547 1,881,015 Total - Fringe Benefits $ 130,030,364 $ 141,034,947 $ 141,038,930 $ 137,988,930 $ 145,277,726 B-11

12 Expenditure Summary FY 2015 Actual Current Projection Special Items Taxes on City Property $ 2,884,278 $ 2,893,668 $ 2,893,668 $ 2,997,135 $ 2,975,305 Tax Remission 1,270,357 1,500,000 1,500,000 1,500,000 1,500,000 Senior Citizens Tax Exempt 329, , , , ,000 Res. for Uncollected Taxes 17,178,187 12,651,386 12,651,386 12,651,386 14,449,845 YMCA-SNUG Grant 200, , , , ,000 STRIVE ,574 Tax Advertising 60,000 60,000 60,000 60,000 60,000 Paying Agent Expense 123, , , , ,000 Municipal Dues 13,742 32,000 32,000 32,000 32,000 Tenant Act Expense 166, , , , ,000 Judgments and Claims 999,846 1,000,000 1,000,000 1,000,000 1,000,000 Tax Certiorari Payments 9,504, , , , ,000 Contractual Settlements 5,349,835 5,916,589 5,916,589 6,650,000 9,646,419 Termination Payments 2,078,213 1,565,703 1,565,703 2,400,000 1,681,569 Fiscal Agent Bank Fee 9,100 20,000 20,000 20,000 20,000 Grant Cash Match 1,252, , , , ,000 Litigation Expenses 1,554,631 2,065,000 2,272,444 2,272,444 2,065,000 Administrative Income Tax 329, , , , ,000 Yonkers Historical Society 10,000 10,000 10,000 10,000 10,000 MTA Payroll Tax 777, , , , ,965 Board of Ethics - 25,000 25,000 25,000 25,000 Green Task Force 3,336 20,000 20,000 20,000 20,000 Affordable Housing Subsidies 777,112 1,100,000 1,100,000 1,100,000 1,100,000 Buena Vista Parking Garage 94, , , , ,000 Annual City Audit 634, , , , ,000 Contingent Reserve - 1,713,580 1,713,580 1,713, ,000 Total - Special Items $ 45,598,935 $ 34,527,069 $ 34,758,552 $ 36,455,462 $ 39,294,677 Board of Education Basic Operating Expend. 500,454, ,314, ,530, ,643, ,312,202 Total - B.O.E. Expenditures $ 500,454,799 $ 524,314,639 $ 526,530,338 $ 522,643,822 $ 538,312,202 Debt Service Debt Service - General Fund 45,769,141 41,273,525 41,273,525 39,351,532 43,431,124 Debt Service - Education Fund 23,984,357 26,184,759 26,184,759 25,805,384 30,939,507 Debt Service - Library Fund 1,071,669 1,090,467 1,090,467 1,079,559 1,321,257 Debt Service - Museum Fund 656, , , , ,395 Debt Service - Water Fund 3,553,762 3,914,198 3,914,198 3,883,547 4,726,184 Debt Service - Sewer Fund 4,135,701 4,242,308 4,242,308 4,224,302 4,050,578 Subtotal $ 79,171,135 $ 77,363,937 $ 77,363,937 $ 75,003,004 $ 85,099,045 Total Expenditures $ 1,027,183,174 $ 1,070,298,362 $ 1,074,308,778 $ 1,065,193,239 $ 1,115,013,730 B-12

13 Combined City and School District Budget Summary Appropriation Dollar Change % Change General City $ 519,798,964 $ 545,762,021 $ 25,963, % City School District 550,499, ,251,709 18,752, % Total Appropriation $ 1,070,298,362 $ 1,115,013,730 $ 44,715, % Revenues General City $ 428,535,017 $ 457,798,605 $ 29,263, % City School District 300,690, ,927,621 11,236, % Total $ 729,225,847 $ 769,726,226 $ 40,500, % Combined Property Tax Levy $ 341,072,515 $ 345,287,504 $ 4,214, % Total Revenue $ 1,070,298,362 $ 1,115,013,730 $ 44,715, % B-13

14 Comparison of City and School District Spending Fiscal Year City School Total City Contribution 2005 Actual $ 333,492,312 $ 369,275,441 $ 702,767,753 $ 161,742, Actual $ 354,658,875 $ 408,565,316 $ 763,224,191 $ 175,193, Actual $ 385,851,037 $ 426,578,161 $ 812,429,198 $ 207,832, Actual $ 409,086,227 $ 450,505,195 $ 859,591,422 $ 210,832, Actual $ 408,454,954 $ 466,031,302 $ 874,486,256 $ 217,349, Actual $ 439,808,502 $ 481,403,483 $ 921,211,985 $ 217,849, Actual $ 420,109,648 $ 468,705,415 $ 888,815,063 $ 217,849, Actual $ 431,554,898 $ 498,204,465 $ 929,759,363 $ 224,749, Actual $ 442,838,922 $ 499,805,085 $ 942,644,007 $ 227,299, Actual $ 446,652,640 $ 533,182,771 $ 979,835,411 $ 231,475, Actual $ 502,744,018 $ 524,439,156 $ 1,027,183,174 $ 234,173, $ 519,798,964 $ 550,499,398 $ 1,070,298,362 $ 249,808, $ 545,762,021 $ 569,251,709 $ 1,115,013,730 $ 257,324,088 B-14

15 The Budget Dollar - Revenues & Expenditures Revenues FY 2013 Actual FY 2014 Actual FY 2015 Actual Property Taxes $ 0.34 $ 0.34 $ 0.31 $ 0.32 $ 0.31 Sales Tax $ 0.07 $ 0.07 $ 0.07 $ 0.07 $ 0.07 Income Tax $ 0.04 $ 0.04 $ 0.04 $ 0.05 $ 0.05 Other Taxes $ 0.02 $ 0.02 $ 0.02 $ 0.02 $ 0.08 State/Federal Funding $ 0.35 $ 0.35 $ 0.33 $ 0.35 $ 0.35 Water/Sewer Charges $ 0.03 $ 0.03 $ 0.03 $ 0.03 $ 0.04 Other $ 0.13 $ 0.13 $ 0.20 $ 0.16 $ 0.11 Total $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00 Expenditures City Departmental $ 0.27 $ 0.26 $ 0.26 $ 0.27 $ 0.28 Board of Education Operating $ 0.50 $ 0.52 $ 0.49 $ 0.49 $ 0.48 City Fringe Benefits $ 0.12 $ 0.12 $ 0.13 $ 0.13 $ 0.13 Special Items $ 0.04 $ 0.03 $ 0.04 $ 0.03 $ 0.04 Debt Service $ 0.07 $ 0.07 $ 0.08 $ 0.07 $ 0.08 Total $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00 B-15

16 The Budget Dollar Fiscal Year 2017 Total Revenues $1,115,013,730 Water/Sewer Charges 3% Other 11% Property Taxes 31% Sales Tax 7% State/Federal Funding 35% Other Taxes 8% Income Tax 5% B-16

17 The Budget Dollar Fiscal Year 2016 Total Revenues $1,070,298,362 Other 16% Property Taxes 32% Water/Sewer Charges 3% Sales Tax 7% State/Federal Funding 35% Other Taxes 2% Income Tax 5% B-17

18 The Budget Dollar Fiscal Year 2017 Total Expenditures $1,115,013,730 City Fringe Benefits 13% Special Items 3% Debt Service 8% City Departmental 28% Board of Education Operating 48% B-18

19 The Budget Dollar Fiscal Year 2016 Total Expenditures $1,070,298,362 City Fringe Benefits 13% Special Items 3% Debt Service 7% City Departmental 28% Board of Education Operating 49% B-19

20 Comparison of Detailed Budgeted Revenues Dollar Change % Change Property Tax $ 341,072,515 $ 345,287,504 $ 4,214, % Special Taxes Sales and Use Tax $ 75,680,637 $ 74,164,799 $ (1,515,838) -2.0% Sales and Use Tax - Education $ 11,352,096 $ 14,832,960 $ 3,480, % Utilities Gross Receipts Tax 7,528,894 7,528, % Real Estate Transfer Tax 8,712,006 19,566,616 10,854, % O.T.B. Surcharge 225, ,000 (60,000) -26.7% Mortgage Tax 5,737,901 8,900,000 3,162, % Income Tax Surcharge 48,572,768 54,337,500 5,764, % Other Taxes 917,500 1,715, , % Total Special Taxes $ 158,726,802 $ 181,211,269 $ 22,484, % State Funding AIM Funding $ 108,215,479 $ 108,215,479 $ - 0.0% Reimbursements 592, ,700 33, % Total State Funding $ 108,808,179 $ 108,841,179 $ 33, % City Departments PVB / Courts $ 18,256,816 $ 20,125,000 $ 1,868, % All Other 16,102,270 18,987,850 2,885, % Total City Departments $ 34,359,086 $ 39,112,850 $ 4,753, % Other Revenues Prior Year Tax Payments $ 9,139,364 $ 11,648,517 $ 2,509, % Interest on Investment 127,250 40,500 (86,750) -68.2% Interest on Taxes 4,302,303 4,410, , % P.I.L.O.T.S. 18,600,870 15,602,900 (2,997,970) -16.1% Yonkers Raceway Impact Fees 1,000,000 1,000, % All Other 7,764,340 9,093,276 1,328, % Subtotal $ 40,934,127 $ 41,795,193 $ 861, % Appropriated Fund Balance 37,494,895 37,950, , % Total Other Revenues $ 78,429,022 $ 79,745,565 $ 1,316, % Subtotal $ 721,395,604 $ 754,198,367 $ 32,802, % B-20

21 Comparison of Detailed Budgeted Revenues Dollar Change % Change Library Fund $ 745,400 $ 976,901 $ 231, % Water Fund Frontage $ 4,095,295 $ 4,095,295 $ - 0.0% Metered Sales 32,102,746 35,776,557 3,673, % Other 854, , , % Subtotal $ 37,052,581 $ 40,869,352 $ 3,816, % Appropriated Fund Balance 3,260,665 - (3,260,665) % Total Other Revenues $ 40,313,246 $ 40,869,352 $ 556, % Sewer Fund Sewer Rents $ 7,384,397 $ 7,848,783 $ 464, % Other 178, ,000 14, % Sewer Fund $ 7,562,397 $ 8,040,783 $ 478, % Appropriated Fund Balance (409,115) (999,294) (590,179) 144.3% Total Other Revenues $ 7,153,282 $ 7,041,489 $ (111,793) -1.6% Education Fund State Funding - Basic $ 256,901,962 $ 272,468,377 $ 15,566, % State Additional Chapter 1 Accrual $ - $ % State Funding - Categorical $ 5,434,755 $ 5,434, % State Funding for VLTs $ 19,600,000 $ 19,600, % State Funding - Additional Aid $ 16,000,000 $ 11,000,000 (5,000,000) -31.3% Federal Aid $ 467,995 $ 580, , % Department $ 439,000 $ 376,310 (62,690) -14.3% Interfund Rev./Indirect Cost $ 666,105 $ 666, % Misc. Departmental /Fines $ 1,180,813 $ 1,081,382 (99,431) -8.4% Saunders Trust Fund $ 200 $ - (200) % Interest for Debt Service $ - $ % Subtotal $ 300,690,830 $ 311,207,529 10,516, % Appropriated Fund Balance-G/F - 720, , % Appropriated Fund Balance-D/S % Total Education Fund $ 300,690,830 $ 311,927,621 $ 11,236, % Total Revenues - All Funds $ 1,070,298,362 $ 1,115,013,730 $ 44,715, % B-21

22 Appropriation Change Summary Dollar Change % Change City Departmental $ 293,057,770 $ 307,030,080 $ 13,972, % Fringe Benefits 141,034, ,277,726 4,242, % Special Items 34,527,069 39,294,677 4,767, % Debt Service 51,179,178 54,159,538 2,980, % Board of Education Operating 524,314, ,312,202 13,997, % Debt Service 26,184,759 30,939,507 4,754, % Total $ 1,070,298,362 $ 1,115,013,730 $ 44,715, % B-22

23 Appropriation Comparison $ Amount % of Total $ Amount % of Total City Personal Services $ 232,002, % $ 245,734, % Equipment 239, % 245, % Materials and Supplies 10,260, % 9,766, % Contractual Services 50,555, % 51,283, % Fringes Benefits 141,034, % 145,277, % Special Items 34,527, % 39,294, % Debt Service 51,179, % 54,159, % Board of Education Operating 524,314, % 538,312, % Debt Service 26,184, % 30,939, % Total $ 1,070,298, % $ 1,115,013, % B-23

24 City and Board of Education Appropriation Comparison $ Amount % of Total $ Amount % of Total City Personal Services $ 232,002, % $ 245,734, % Equipment 239, % 245, % Materials and Supplies 10,260, % 9,766, % Contractual Services 50,555, % 51,283, % Fringes Benefits 141,034, % 145,277, % Special Items 34,527, % 39,294, % City Debt Service 51,179, % 54,159, % Total City $ 519,798, % $ 545,762, % Board of Education B.O.E. Operating 524,314, % 538,312, % B.O.E. Debt Service 26,184, % 30,939, % Total $ 550,499, % $ 569,251, % Total Appropriation $ 1,070,298,362 $ 1,115,013,730 B-24