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City of Haverhill Budget Presentation
May 27, 2014
Mayor James J. Fiorentini
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Revenue Sources
Property Taxes55%
Local Receipts10%
STATE AID
Transfers0%
Miscellaneous1%
Revenue Driver
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Revenue Increases
• Property taxes are up $2.4 million• State aid up $965,058k (2.19%)• Personal Property taxes are up $139k (2.5%)• Meal taxes are up $44k (6.49%)• Hotel taxes are up $94k (39.91%)
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Prop 2 and half increase plus new growth is $2.564 million
New growth numbers still down from prior to recession $750k
Property Taxes
03 04 05 06 07 08 09 10 11 12 13 14 15$0
$500,000
$1,000,000
$1,500,000
$2,000,000
$2,500,000
$3,000,000
New Growth
Year
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Hale hospital debt aid◦ $2.4 million– Thank you Representative Dempsey!
◦ Other aid Chapter 70 (schools) $45,091,781 an increase of
$965,058 (2.19%) Unrestricted local aid $235,984 (2.77%)
State Aid
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Meals tax◦ $725,250 and increase of $44,208 (6.49%)
◦ Other new revenue sources- Hotel tax: $330,325 an increase of $94,225 (39.91%) Ambulance fee is $52k an increase of $2k (4%) Cable fee of $200k Total is $1,307,575
Additional Recurring Revenue Sources
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ExpendituresGeneral Operating
2%
Public Safety12%
Education Operating
43%
Public Works
Human Services
Debt ServiceEmployee Benefits
24%
OtherState Charges
Expenditure Drivers
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Snow and Ice deficit- $900,000 Regional School increase- $450,000 (45%
increase) Pensions- Up $509,000 (14% increase)
Other Expenditure Drivers
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Mitigation $648,500 Reserve $400,000
Health care expenses
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Schools- $200,000 Stabilization- $400,000 Taxing below the levy limit- $300,000
Reserves
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• Public Safety- an increase of $564,497 (5.8%)
• School Department- an increase of $1,286,556 (2.1%)
Reserves- We are adding $400k to stabilization bringing the total to $2.978,381
Operating expense increases
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OPEB CSO and Storm Water Hunking School Second Mound of Landfill
Concerns
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Things are better Long way to go Must continue to hold the line
Conclusion
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