HomeMy WebLinkAboutBudget Committee Minutes 9-13-2021
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BUDGET COMMITTEE
Meeting Minutes - September 13, 2021
Committee present: Eric Levine - Chairman, Pat Leary Committee absent: Pam Bleiwas
Staff present: Donna Shaw, Judy Drake, Marty Mosely, Joe Slater, Dan Thaete
Others present: Rod Howe, Bill Goodman
Meeting was called to order at: 12:10 p.m. by Chairman Levine.
AGENDA ITEMS:
• Review and approve meeting minutes from August 9, 2021.
Moved: Pat Leary Second: Eric Levine Motion Passed
• Update on status of 2021 Sales Tax Collections.
For the first six months of 2021, collections of $1,852,234.69 are 27% higher than the same period
in 2020, and 6% higher than 2019. If this upward trend continues, we could be $300,000 over the
sales tax budget of $3,250,000 in 2021.
• Continue Review of Tentative Ithaca Town Budget.
The Committee reviewed the changes made between V1 and V2 of the 2022 Tentative Budget:
• Retirement contribution rates went down resulting in savings in the major funds. Since
we were making that change, we also went ahead and adjusted health insurance down
from a 6% increase to 5% increase.
• Highway Town-wide and Highway Part-Town property taxes decreased.
• Franchise fees were reduced by 5% in General Part-Town Fund.
• Water and Sewer benefit units have been updated by Engineering resulting in fewer units.
Once final units are received from Assessment, the Water and Sewer Benefit rates will be
increased to maintain the revenue needed to cover debt payments.
• Final numbers are not yet available for the City Sewer and Fire contracts so we are using
an estimate based on prior year.
The Tentative Budget is $224,000 under the property tax cap. We are continuing to accumulate
funds in the Light Districts to pay for the streetlight purchase and conversion to LED. It is
anticipated that the purchase will take place this October, with the conversion to follow in 2022.
We have spread this cost over five years in the light districts. We are hoping to pursue closing the
light districts after this project is complete. Annual operating costs are anticipated to be greatly
reduced and the districts are already small, with Clover Lane expending $283 in 2020. These costs
could be absorbed with at-large streetlights in General Fund in the future.
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Tentative Tax Rate Changes:
The meeting was adjourned at 12:33 p.m.
Next Meeting: Monday, October 11, 2021 at 12:00 pm, if needed.
FUND 2020 2021 2022
GENERAL TOWNWIDE
Property Tax Rate 1.879356 2.40206 2.062903
Property Tax Levy 3,036,000 4,000,000 3,500,000
HIGHWAY TOWNWIDE
Property Tax Rate 0.4952219 0.480412 0.381932
Property Tax Levy 800,000 8,000,000 648,000
HIGHWAY PART-TOWN
Property Tax Rate 1.25895 0 0.71412
Property Tax Levy 1,446,000 - 869,500
FIRE PROTECTION
Property Tax Rate 2.57898 3.000128 2.85933
Property Tax Levy 3,216,000 3,875,000 3,720,000