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Home My WebLink AboutAgenda 08-08-2022TOWN OF ITHACA BUDGET COMMITTEE Monday, August 8, 2022 - 12:00 pm Join Zoom Meeting https://us06web.zoom.us/j/5063713554 AGENDA • Review and approve Meeting Minutes from July 11, 2022. • Review and Discuss Proposed 2023 Budget (Including Capital Budget). • Initial discussion on Property Tax Levy, Tax Rates and Tax Cap Calculations for FY-2023. • Initial discussion for 2023 Water & Sewer Rates. • Initial discussion for 2023 Water & Sewer Benefit Fees. Next Meeting: Monday, September 12th at 12:00 pm TOWN OF ITHACA FISCAL YEAR 2023 BUDGET HIGHLIGHTS  The Ithaca Town Budget will increase from $25,160,580 in 2022 to $28,174,743 in 2023, an increase of $3,014,163 or 11.98%.  The budgeted total for Personnel Costs increases from $6,791,742 in 2022 to $7,192,158 in 2023, an increase of $400,416 or 5.9%. Personnel costs represent 25.53% of the Town’s total 2023 budget.  Total for Personal Services (employee salaries and wages) increases from $4,579,372 in 2022 to $4,862,338 in 2023, an increase of $282,966 or 6.18%. Salaries are under negotiation for 2023. This preliminary budget estimate includes a 2.75% increase. The newly created (in 2022) Computer Systems Support Aide is included. There are also three new position requests: - FT Civil Engineer - FT Codes Safety Officer - PT Project Assistant (for Records Management)  The budgeted total for Employee Benefits increases from $2,212,370 in 2022 to $2,329,820 in 2023, an increase of $117,450 or 5.3%. Total employee benefits in 2023 are calculated at 47.92% of the total for employee salaries and wages. - Payments for employee retirement are budgeted for $492,200 in 2023, a decrease of $5,800 from the $498,000 total budgeted in 2022. The invoice estimates are still pending from NYSLRS. - Payments for employee health insurance are budgeted for $1,299,600 in 2023, an increase of $96,500 from the $1,203,500 total budgeted in 2022. This budget estimate includes a 6% increase in premiums. The Consortium is currently considering a 6.0 – 6.5% increase for 2023.  Capital Projects budgeted in 2023 will total $5,618,865; an increase of $2,102,660 or 59.8% over the $3,516,205 total budgeted in 2022. Capital projects represent 19.93% of the Town’s total budget. - $1,596,365 is budgeted for water infrastructure improvements, $1,096,365 for the Ridgecrest project is funded by ARPA, $250,000 for Troy/Coddington backup generators will use fund balance (project was funded by the benefit assessment charge in 2022, but implementation is delayed until 2023) and $250,000 funded by the 2023 benefit assessment charge. - $1,550,000 is budgeted for sewer infrastructure improvement. $300,000 for sewer lining and manhole rehabilitation is funded with current year revenues and $1,250,000 for the Forest Home Pump Station and Forcemain is funded with $550,707 in ARPA and $699,293 in BANs (with anticipated bonding in 2024). - $1,481,000 is budgeted for road improvements and funded with $781,000 in Highway Part- Town fund balance and $700,000 in current year revenues (CHIPS and property tax). - $50,000 is budgeted for green energy improvements to Town facilities and funded with General fund balance. - $825,00 is budgeted for PWF new fuel station and funded with General fund balance. - $50,000 is budgeted for Town parks and trails improvements funded with current year revenues. - $66,500 is budgeted for trail design work on the Culver Road Preserve and is funded with a potential grant and Open Space Plan funds.  Contractual Services increase from $12,332,556 in 2022 to $13,098,426 in 2023; an increase of $765,870 or 6.2%. Contractual services represent 46.4% of the total budget for 2023.  Equipment/Capital Outlay decreases from $869,500 in 2022 to $724,000 in 2023; a decrease of $145,500 or 16.7%. Equipment/Capital Outlay represents 2.57% of the Town’s total 2023 budget. - $620,000 is budgeted for the replacement of vehicles and other motor equipment in 2023. - $104,000 is budgeted for miscellaneous equipment valued over $5,000.  The Town will transfer (re-designate) $100,000 from the unreserved fund balance in the General Townwide Fund to the Parks, Recreation and Open Space Plan account.  The 2023 Property Tax totals $8,770,523, an increase of $166,589 or 1.9% over the prior year total of $8,603,934. The total 2023 Property Tax Levy (including Water/Sewer Benefit Assessment Fees) is $10,860,146 in 2023, an increase of $233,179 or 2.2% over the prior year total of $10,626,967. This increase does comply with the property tax cap limit for 2023. Property taxes are the Town’s largest revenue source, representing 44.2% of total budgeted revenues.  The property tax bill for a typical property in the Town of Ithaca will decrease to $1,949.30 in 2023 from $2,020.06 in 2022, a decrease of $70.76 or 3.5%. The typical property in the Town of Ithaca is a single-family residence with an assessed value of $300,000. The estimated property tax bill total shown below includes proposed water and sewer benefit assessment fees. 2019 2020 2021 2022 2023* 2023** 1.9197$ 1.8792$ 2.4021$ 2.0629$ 2.1171$ 2.1171$ 0.5162 0.4952 0.4804 0.3819 0.3965 0.3965 1.3027 1.2416 - 0.7141 0.5239 0.5239 2.6535 2.5787 3.0001 2.7139 2.5994 2.5994 150.00 160.00 165.00 182.81 182.81 182.81 45.00 60.00 65.00 75.41 75.41 75.41 2,112.67$ 2,078.42$ 1,994.78$ 2,020.06$ 1,949.30$ 2,067.67$ (15.87)$ (34.25)$ (83.64)$ 25.28$ (70.76)$ 47.61$ -1.70% -1.62% -4.02% 1.27%-3.50% 2.36%-0.75% ** Assuming the "Typical Property" value increased 7% to $321,000 PROPERTY TAX BILL FOR A TYPICAL PROPERTY IN THE TOWN OF ITHACA * A Typical Property in the Town of Ithaca is a Single-Family Residence with an Assessed Value of $300,000. PERCENTAGE INCREASE FROM PRIOR YEAR Major Components to Property Tax Bill GENERAL TOWNWIDE PROPERTY TAX RATE HIGHWAY TOWNWIDE PROPERTY TAX RATE TOWN TAX INCREASE FROM PRIOR YEAR PERCENTAGE INCREASE FROM PRIOR YEAR HIGHWAY PART-TOWN PROPERTY TAX RATE FIRE PROTECTION DIST. PROPERTY TAX RATE W ATER BENEFIT ASSESSMENT CHARGE / UNIT SEWER BENEFIT ASSESSMENT CHARGE / UNIT TOTAL T OWN TAX ON T YPICAL PROPERTY *  The taxable assessed valuation of the Town of Ithaca increased from $1,696,638,433 in 2022 to $1,818,505,024 an increase of approx. 7.2% over the prior year.  Sales Tax collections are budgeted at $3,785,000, representing 14.33% of the Town’s 2023 budgeted revenues. This is an increase of $535,000 over the $3,250,000 budgeted for sales tax since 2020. Sales tax collections have exceeded the budget since that time, with 2021 collections totaling $3,982,805. Mortgage tax collections are budgeted at $280,000 in 2022.  Water rates are proposed to increase from $8.51/1000 gallons of consumption in 2022 to $8.89/1000 gallons of consumption in 2023 an increase of 4.5%. The water rate increases are driven by the Bolton Point rate increase due to their share of the rate representing 68% of the total. For instance, if the customer rate increase 4.0%, from $8.51 to $8.85, that would leave the Town with $2.82 after paying BP $6.03. This would represent a $0.08 increase from the $2.74 Town share in 2022, or a 2.9% increase.  Sewer rents, billed on water consumption, are pending until data is received from the City. 2022 rates were used in this preliminary version.  The Water Benefit Assessment Fee is estimated to increase to $187.00/unit in 2023 from $182.81/unit in 2022, raising revenues of approx. $1,483,974 to be used to pay the annual debt service on the Town’s outstanding long-term debt for water infrastructure improvements. The Sewer Benefit Assessment Fee is pending until data is received from the City. 2022 rates were used in this preliminary version. FY 2022 Calculation FY 2023 Calculation 2021 2022 ACTUAL ACTUAL Property Tax Levy: General Townwide Fund 4,001,716$ 3,501,545$ Highway Townwide Fund 800,000 648,000 Highway Part-Town Fund - 869,500 Fire Protection District 3,875,000 3,530,806 Ad Valorum - Water 13,342 13,482 Ad Valorum - Sewer 14,735 13,863 Special Districts 27,300 27,300 Sub-Total: Property Tax 8,732,093$ 8,604,496$ Benefit Fees: Benefit Fees - Water 1,409,742$ 1,448,895$ Benefit Fees - Sewer 531,055 571,396 Sub-Total: Benefit Fees 1,940,797$ 2,020,291$ Total: Property Tax Levy 10,672,890$ 10,624,787$ X Tax Base Growth Factor 1.0043 1.0043 10,718,783 10,670,474 + PILOT Payments - Actual from PY 70,836$ 70,000$ Sub-Total 10,789,619$ 10,740,474$ X Levy Growth Factor 1.0200 1.0200 Sub-Total 11,005,412$ 10,955,283$ - PILOT Payments - Est for Next Year 70,000$ 70,000$ TAX LEVY LIMIT 10,935,412 10,885,283 2.45% + Prior Year Carryover 105,143 165,608 TAX LEVY LIMIT WITH ADJ 11,040,555$ 11,050,891$ 4.01% ACTUAL TAX LEVY 10,623,241$ -$ ###### DIFFERENCE OVER/(UNDER) (417,314) (11,050,891) PROPERTY TAX CAP CALCULATION Property Tax Items Liability Period 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 January 205,220$ 219,268$ 250,612$ 220,057$ 246,519$ 234,074$ 238,752$ 249,058$ 269,396$ 266,756.00$ 241,976.77$ 349,600.04$ February 171,696 189,823 203,477 186,064 193,489 173,406 202,536 226,912 225,040 241,529.18 220,287.15 300,462.74 March 271,343 285,471 259,151 327,857 263,293 254,500 299,837 292,632 310,010 294,969.05 392,202.28 396,743.39 1st Quarter 648,259$ 694,562$ 713,239$ 733,978$ 703,301$ 661,979$ 741,126$ 768,602$ 804,446$ 803,254$ 854,466$ 1,046,806$ 3 MONTHS 648,259$ 694,562$ 713,239$ 733,978$ 703,301$ 661,979$ 741,126$ 768,602$ 804,446$ 803,254$ 854,466$ 1,046,806$ April 209,681$ 203,441$ 208,981$ 219,069$ 232,815$ 252,208$ 224,257$ 260,601$ 256,261$ 193,919.94$ 281,825.36$ 350,840.20 May 197,090 201,245 216,676 215,858 231,479 220,044 226,772 240,448 268,202 181,781.59 284,332.00 366,126.50 June 277,640 336,128 304,434 348,794 294,864 279,492 323,875 354,024 418,808 279,411.53 431,611.13 - 2nd Quarter 684,411$ 740,813$ 730,092$ 783,721$ 759,157$ 751,743$ 774,904$ 855,074$ 943,271$ 655,113$ 997,768$ 716,967$ 6 MONTHS 1,332,670$ 1,435,375$ 1,443,331$ 1,517,699$ 1,462,458$ 1,413,722$ 1,516,030$ 1,623,676$ 1,747,717$ 1,458,367$ 1,852,235$ 1,763,773$ July 215,336$ 218,145$ 223,127$ 228,196$ 242,962$ 256,678$ 257,300$ 279,705$ 295,250$ 254,742.19$ 314,638.93$ August 214,805 211,787 222,006 241,303 245,767 235,866 237,288 271,253 287,578 248,307.40 312,514.79 September 323,918 307,839 343,688 321,393 289,144 314,611 336,692 369,610 335,181 437,518.95 472,220.61 3rd Quarter 754,059$ 737,771$ 788,820$ 790,892$ 777,874$ 807,155$ 831,280$ 920,568$ 918,009$ 940,569$ 1,099,374$ -$ 9 MONTHS 2,086,729$ 2,173,146$ 2,232,151$ 2,308,590$ 2,240,332$ 2,220,878$ 2,347,310$ 2,544,243$ 2,665,725$ 2,398,936$ 2,951,609$ 1,763,773$ October 201,497$ 215,141$ 221,963$ 240,640$ 272,563$ 238,072$ 243,261$ 255,095$ 273,033$ 269,331.84$ 292,143.63$ -$ November 202,302 208,222 227,031 228,886 252,177 242,520 239,502 272,761 303,028 231,274.86 302,394.38 - December 318,903 310,704 309,717 356,968 302,264 302,473 354,895 316,699 355,376 381,304.49 436,657.63 - 4th Quarter 722,701$ 734,067$ 758,712$ 826,494$ 827,004$ 783,066$ 837,659$ 844,556$ 931,437$ 881,911$ 1,031,196$ -$ 12 MONTHS 2,809,430$ 2,907,213$ 2,990,863$ 3,135,084$ 3,067,336$ 3,003,943$ 3,184,969$ 3,388,799$ 3,597,162$ 3,280,847$ 3,982,805$ 1,763,773$ AMOUNT BUDGETED AMOUNT OVER (UNDER) BUDGET TOWN OF ITHACA SALES TAX COLLECTION HISTORY YEAR 2,362,426$ 2,650,000$ 2,750,000$ 2,825,000$ 2,885,000$ 3,000,000$ 3,000,000$ - 257,213$ 240,863$ 310,084$ 182,336$ 3,050,000$ 3,050,000$ 3,250,000$ 3,250,000$ 3,250,000$ -2.16% -2.07% 6.03% 6.40% 3,943$ 184,969$ 338,799$ % INCREASE FROM PRIOR YR - 3.48% 2.88% 4.82% 6.15%-8.79%21.40% -$ 547,162$ 30,847$ 732,805$ TOWN OF ITHACA SUMMARY OF 2023 REVENUES AND EXPENDITURES 2023 BUDGET 2023 GENERAL GENERAL HIGHWAY HIGHWAY WATER SEWER RISK FIRE SPECIAL DEBT TOTAL TOWNWIDE PART-TOWN TOWNWIDE PART-TOWN FUND FUND RETENTION PROTECTION DISTRICTS SERVICE EXPENDITURES: GENERAL GOVERNMENT 3,089,099$ 2,137,180$ 264,084$ 12,900$ 75,560$ 342,201$ 249,454$ -$ 5,400$ -$ 2,320$ PUBLIC SAFETY 3,794,384 87,184 - - - - - - 3,707,200 - - HEALTH & WELLNESS 38,000 - - - - - - 38,000 - - - TRANSPORTATION 5,207,193 1,527,050 - 628,698 3,039,240 - - - - 12,205 - CULTURE & RECREATION 1,235,120 1,235,120 - - - - - - - - - HOME & COMMUNITY SVC 10,939,833 268,950 1,414,524 - - 4,876,129 4,380,230 - - - - EMPLOYEE BENEFITS 2,329,820 1,046,000 481,550 118,300 377,020 174,000 132,950 - - - - DEBT SERVICE 1,370,466 - - - - 1,182,006 - - - - 188,460 INTERFUND TRANSFERS 195,828 112,654 5,900 5,900 56,606 6,234 6,234 - - 2,300 - TOTAL EXPENDITURES:28,199,743$ 6,414,138$ 2,166,058$ 765,798$ 3,548,426$ 6,580,570$ 4,768,868$ 38,000$ 3,712,600$ 14,505$ 190,780$ REVENUES: REAL PROPERTY TAXES 8,770,253$ 3,850,000$ -$ 721,000$ 700,000$ 13,696$ 15,137$ -$ 3,450,000$ 20,420$ -$ W ATER / SEWER BENEFIT UNITS 2,089,893 - - - - 1,483,974 605,919 - - - - REAL PROPERTY TAX ITEMS 91,209 74,292 - 5,216 11,701 - - - - - - SALES TAX 3,785,000 - 1,845,000 - 1,690,000 - - - 250,000 - - FRANCHISE TAX 55,058 - 55,058 - - - - - - - - DEPARTMENTAL INCOME 6,923,214 36,150 213,000 - - 3,741,100 2,932,964 - - - - INTERGOVERNMENTAL CHRGS 120,734 98,845 - 21,889 - - - - - - - USE OF MONEY & PROPERTY 570,908 277,775 47,500 17,693 83,700 45,190 51,200 2,600 44,750 - 500 LICENSES AND PERMITS 10,000 10,000 - - - - - - - - - FINES AND FORFEITURES 175,000 175,000 - - - - - - - - - SALE OF PROPERTY 214,625 56,500 5,500 - 101,750 30,525 20,350 - - - - MISC. LOCAL SOURCES 92,500 87,500 - - 5,000 - - - - - - INTERFUND REVENUES 422,729 422,729 STATE & FEDERAL AID 2,195,081 339,000 - - 179,009 1,096,365 550,707 - 30,000 - - INTERFUND TRANSFERS 192,860 - - - - - - 35,400 - - 157,460 PROCEEDS OF OBLIGATIONS 699,293 - - - - - 699,293 - - - - TOTAL REVENUES:26,408,357$ 5,427,791$ 2,166,058$ 765,798$ 2,771,160$ 6,410,850$ 4,875,570$ 38,000$ 3,774,750$ 20,420$ 157,960$ USE OF FUND BALANCE 1,791,386 986,347 - - 777,266 169,720 (106,702) - (62,150) (5,915) 32,820 REVENUE & OTHER SOURCES:28,199,743$ 6,414,138$ 2,166,058$ 765,798$ 3,548,426$ 6,580,570$ 4,768,868$ 38,000$ 3,712,600$ 14,505$ 190,780$ 1,052,000 781,000 250,000 COMPARISON TO PRIOR YEAR: 2022 TOTAL BUDGET:25,160,580$ 5,622,070$ 1,912,977$ 732,591$ 2,880,379$ 6,221,972$ 3,918,698$ 38,000$ 3,568,306$ 11,605$ 253,982$ % CHANGE FROM 2021:12.08%14.09% 13.23% 4.53% 23.19% 5.76% 21.70% 0.00% 4.04% 24.99% -24.88% DESCRIPTION 2023 BUDGET G2022ENERAL GENERAL HIGHWAY HIGHWAY WATER SEWER RISK FIRE SPECIAL DEBT TTOTALOWNWIDE PART-TOWN TOWNWIDE PART-TOWN FUND FUND RETENTION PROTECTION DISTRICTS SERVICE EXPENDITURES BY FUNCTION: GENERAL GOVERNMENT 3,089,099$ 2,137,180 264,084$12,900$75,560$342,201$249,454$-$5,400$-$2,320$$ PUBLIC SAFETY 3,794,384 87,184 - - - - - - 3,707,200 - - HEALTH & WELLNESS 38,000 - - - - - - 38,000 - - - TRANSPORTATION 5,207,193 1,527,050 - 628,698 3,039,240 - - - - 12,205 - CULTURE & RECREATION 1,235,120 1,235,120 - - - - - - - - - HOME & COMMUNITY SVC 10,939,833 268,950 1,414,524 - - 4,876,129 4,380,230 - - - - EMPLOYEE BENEFITS 2,329,820 1,046,000 481,550 118,300 377,020 174,000 132,950 - - - - DEBT SERVICE 1,370,466 - - - - 1,182,006 - - - - 188,460 INTERFUND TRANSFERS 195,828 112,654 5,900 5,900 56,606 6,234 6,234 - - 2,300 - TOTAL EXPENDITURES 28,199,743:$ 6,414,138$ 2,166,058 765,798$3,548,426$$ 6,580,570$ 4,768,868 38,000$3,712,600$$14,505 190,780$$ EXPENDITURES BY CLASS: PERSONAL SERVICES 4,862,338$ 2,321,850$ 1,050,350 277,098$652,340$310,400$250,300$-$-$-$-$$ EQUIPMENT/CAPITAL OUTLAY 724,000 224,000 - - 310,000 98,000 92,000 - - - - CONTRACTUAL SERVICES 13,098,426 1,718,134 628,258 364,500 671,460 3,213,565 2,737,384 38,000 3,712,600 12,205 2,320 CAPITAL PROJECTS 5,618,865 991,500 - - 1,481,000 1,596,365 1,550,000 - - - - EMPLOYEE BENEFITS 2,329,820 1,046,000 481,550 118,300 377,020 174,000 132,950 - - - - DEBT SERVICE 1,370,466 - - - - 1,182,006 - - - - 188,460 INTERFUND TRANSFERS 195,828 112,654 5,900 5,900 56,606 6,234 6,234 - - 2,300 - TOTAL EXPENDITURES 28,199,743:$ 6,414,138$ 2,166,058 765,798$3,548,426$$ 6,580,570$ 4,768,868 38,000$3,712,600$$14,505 190,780$$ 2021 EXPENDITURES:26,054,055$ 5,930,588 2,003,770$1,031,228$2,992,140$6,605,382$3,223,467$35,500$3,633,000$65,550$533,430$$ % CHANGE FROM 2021:8.24%-64.24%-77.87%2.19%7.04%47.94%-0.38%18.59%-25.74%8.10%8.15% EMPLOYEE BENEFITS: N Y S RETIREMENT 492,200$ 232,000 100,000$21,000$70,000$36,600$32,600$$ - - - - SOCIAL SECURITY 372,800 177,700 80,500 21,500 50,000 23,800 19,300 - - - - W ORKERS COMPENSATION 139,000 40,000 22,500 8,000 50,000 10,000 8,500 - - - - LIFE INSURANCE 8,000 3,600 1,800 500 1,250 500 350 - - - - UNEMPLOYMENT INSURANCE 10,200 2,800 - 1,500 3,600 1,300 1,000 - - - - DISABILITY INSURANCE 5,850 2,600 1,250 300 900 450 350 - - - - GROUP HEALTH INSURANCE 1,299,600 586,000 275,000 65,500 201,000 101,300 70,800 - - - - FLEXIBLE SPENDING PLAN 2,170 1,300 500 - 270 50 50 - - - - TOTAL EMPLOYEE BENEFITS 2,329,820:$ 1,046,000$481,550$118,300 377,020$174,000$132,950$$ - - - - 2021 EMPLOYEE BENEFITS:2,212,370$ 999,600 435,100$115,900$373,520$166,700$121,550$$ - - - - % CHANGE FROM 2021:5.31%9.38%4.38%0.94%2.07%10.68%4.64%- - - - DESCRIPTION TOWN OF ITHACA SUMMARY OF 2023 EXPENDITURES TOWN OF ITHACA SUMMARY OF 2023 REVENUES 2023 BUDGET 2022 GENERAL GENERAL HIGHWAY HIGHWAY WATER SEWER RISK FIRE SPECIAL DEBT TOTAL TOWNWIDE PART-TOWN TOWNWIDE PART-TOWN FUND FUND RETENTION PROTECTION DISTRICTS SERVICE REVENUES: REAL PROPERTY TAXES 8,770,253$ 3,850,000$ -$ 721,000$ 700,000$ 13,696$ 15,137$ -$ 3,450,000$ 20,420$ -$ W ATER / SEWER BENEFIT UNITS 2,089,893 - - - - 1,483,974 605,919 - - - - REAL PROPERTY TAX ITEMS 91,209 74,292 - 5,216 11,701 - - - - - - SALES TAX 3,785,000 - 1,845,000 - 1,690,000 - - - 250,000 - - FRANCHISE TAX 55,058 - 55,058 - - - - - - - - DEPARTMENTAL INCOME 6,923,214 36,150 213,000 - - 3,741,100 2,932,964 - - - - INTERGOVERNMENTAL CHRGS 120,734 98,845 - 21,889 - - - - - - - USE OF MONEY & PROPERTY 570,908 277,775 47,500 17,693 83,700 45,190 51,200 2,600 44,750 - 500 LICENSES AND PERMITS 10,000 10,000 - - - - - - - - - FINES AND FORFEITURES 175,000 175,000 - - - - - - - - - SALE OF PROPERTY 214,625 56,500 5,500 - 101,750 30,525 20,350 - - - - MISC. LOCAL SOURCES 92,500 87,500 - - 5,000 - - - - - - INTERFUND REVENUES 422,729 STATE AID 548,009 339,000 - - 179,009 - - - 30,000 - - FEDERAL AID - - - - - - - - - - - INTERFUND TRANSFERS 1,289,225 - - - - 1,096,365 - 35,400 - - 157,460 PROCEEDS OF OBLIGATIONS - - - - - - - - - - - TOTAL REVENUES:25,158,357$ 5,427,791$ 2,166,058$ 765,798$ 2,771,160$ 6,410,850$ 3,625,570$ 38,000$ 3,774,750$ 20,420$ 157,960$ USE OF FUND BALANCE 1,791,386 986,347 - - 777,266 169,720 (106,702) - (62,150) (5,915) 32,820 REVENUE & OTHER SOURCES:26,949,743$ 6,414,138$ 2,166,058$ 765,798$ 3,548,426$ 6,580,570$ 3,518,868$ 38,000$ 3,712,600$ 14,505$ 190,780$ 2021 TOTAL REVENUES:24,123,853$ 7,345,650$ 1,076,500$ 827,050$ 1,013,950$ 6,521,643$ 3,239,601$ 35,500$ 3,568,306$ 27,300$ 468,354$ % CHANGE FROM 2021:4.29%-26.11% 101.21% -7.41% 173.30% -1.70% 11.91% 7.04% 5.79% -25.20% -66.27% BUDGET TO ACTUAL TAX RECEIPTS COMPARISON SALES TAX RECEIPTS: SALES TAX - BUDGETED 2,650,000$ 2,750,000$ 2,825,000$ 2,885,000$ 3,000,000$ 3,000,000$ 3,050,000$ 3,050,000$ 3,250,000$ 3,250,000$ 3,250,000$ SALES TAX - ACTUAL / E ST.2,907,213 2,990,863 3,135,084 3,067,336 3,003,943 3,184,969 3,388,799 3,597,162 3,280,847 3,982,805 3,250,000 ACTUAL OVER (UNDER) BUDGET 257,213$ 240,863$ 310,084$ 182,336$ 3,943$ 184,969$ 338,799$ 547,162$ 30,847$ 732,805$ -$ MORTGAGE TAX RECEIPTS: MORTGAGE TAX - BUDGETED 200,000$ 220,000$ 250,000$ 350,000$ 300,000$ 250,000$ 250,000$ 250,000$ 250,000$ 250,000$ 280,000$ MORTGAGE TAX - ACTUAL / E ST. 279,560 313,999 329,274 429,760 286,227 279,791 299,934 400,947 297,101 382,578 280,000 ACTUAL OVER (UNDER) BUDGET 79,560$ 93,999$ 79,274$ 79,760$ (13,773)$ 29,791$ 49,934$ 150,947$ 47,101$ 132,578$ -$ 2017 2020 20212012 2022201920182016201520142013 DESCRIPTION ESTIMATED 2023 2022 TOWN FUNDS:REVENUE TAX TAX A GENERAL TOWNWIDE FUND 6,414,138$ 1,577,791$ 986,347$ 3,850,000$ 3,500,000$ B GENERAL PART-TOWN FUND 2,166,058 2,166,058 - - DA HIGHWAY TOWNWIDE FUND 765,798 44,798 - 721,000 648,000$ DB HIGHWAY PART-TOWN FUND 3,548,426 2,071,160 777,266 700,000 869,500$ F WATER FUND 6,580,570 4,913,180 169,720 1,497,670 1,465,120 G SEWER FUND 4,768,868 4,254,514 (106,702) 621,056 586,242 R RISK RETENTION FUND 38,000 38,000 - - V DEBT SERVICE FUND 190,780 157,960 32,820 - TOTAL - TOWN FUNDS 24,472,638$ 15,223,461$ 1,859,451$ 7,389,726$ 7,068,862$ SPECIAL DISTRICT FUNDS: SF FIRE PROTECTION FUND 3,712,600$ 324,750$ (62,150)$ 3,450,000$ 3,530,806$ SL 1 FOREST HOME LIGHT DISTRICT 2,800 - - 2,800 6,350$ SL 2 GLENSIDE LIGHT DISTRICT 1,850 - - 1,850 2,040$ SL 3 RENWICK HEIGHTS LIGHT DISTRICT 2,500 - - 2,500 2,840$ SL 4 EASTWOOD COMMONS LIGHT DISTRICT 1,650 - (1,910) 3,560 3,560$ SL 5 CLOVER LANE LIGHT DISTRICT 225 - (335) 560 560$ SL 6 WINNER'S CIRCLE LIGHT DISTRICT 575 - (675) 1,250 1,250$ SL 7 BURLEIGH DRIVE LIGHT DISTRICT 825 - (1,075) 1,900 1,900$ SL 8 WESTHAVEN ROAD LIGHT DISTRICT 2,650 - (2,900) 5,550 5,550$ SL 9 CODDINGTON ROAD LIGHT DISTRICT 1,430 - (1,820) 3,250 3,250$ TOTAL - SPECIAL DISTRICT FUNDS:3,727,105$ 324,750$ (70,865)$ 3,473,220$ 3,558,106$ GRAND TOTAL - ALL FUNDS:28,199,743$ 15,548,211$ 1,788,586$ 10,862,946$ 10,626,968$ APPROPRIATED FUND BALANCEAPPROPRIATIONS TOWN OF ITHACA, NEW YORK SUMMARY OF FISCAL YEAR 2023 BUDGET BY FUND