HomeMy WebLinkAboutMeeting Notes 1-17-18
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BUDGET COMMITTEE
Meeting Minutes - January 17, 2018
Committee present: Eric Levine - Chairman, Pat Leary, Pamela Bleiwas
Staff present: Mike Solvig, Judy Drake, Shannon Sanzi
Others present: Bill Goodman
Meeting was called to order at: 12:02 p.m.
AGENDA ITEMS:
• Review and approve September 20, 2017 meeting minutes.
Moved: Pat Leary Second: Pam Bleiwas Motion Passed
• Discuss the purchase of new furniture for Ithaca Town Court office.
Bill Goodman informed the committee that the question of purchasing new furniture for the Court
office was brought up at the Employee Relations Committee. As no funds were appropriated in
the 2018 Budget for this purpose, he suggested that the question be brought to the Budget
Committee. Shannon Sanzi, Court Clerk, described some of the difficulties with the Town Court
office and current furniture:
- The Town Court office is small for two judges and two court clerks, the limited space available
for the court clerks’ original desks and filing cabinets required the desks/work surface be less
than desirable, and were positioned so the clerks worked directly “behind” each other,
causing them the frequently bump into each other.
- As the NYS Court System moves toward a paperless system, the equipment supplied by NYS
has taken up more of the work surface, leaving less for the court clerks to work on.
- The transition to the paperless system makes most of the file cabinets unnecessary, which
would allow for larger desks. However, the current furniture cannot be easily expanded.
- Court personnel would like to have variable height desks that allow for working while sitting
or standing, similar to the desks used in the recent renovation of Town Hall. These desks are
not compatible with the current furniture.
After discussion, it was the consensus of the Committee for the Town Court to work with a
furniture contractor to develop an acceptable plan and cost estimate, and bring these back to the
Budget Committee for further discussion.
• Set 2018 Budget Committee meeting dates.
Budget Committee meetings in 2018 will be held the third Wednesday of each month. Meetings
will begin at 12:00 noon, and will be held at Town Hall in the Aurora Room. The committee
reviewed and approved the proposed meeting schedule for 2018 with the following changes:
- February meeting moved to February 28 due to conflict with Association of Towns meeting.
- September meeting moved to September 12.
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• Discuss 2018 Budget Committee priorities.
Mr. Goodman stated that he would like to add establishing sidewalk districts to the list of Budget
Committee priorities in 2018 to raise revenue to fund future sidewalk projects. The use of districts
will allow the Town to “tax” otherwise exempt properties, such as Cornell University and Ithaca
College properties. He would also like to explore establishing park and recreation districts in a
future year. The committee identified the following topics as priorities for 2018:
- Review Reserve Funds and Accounts, setting maximum balances where appropriate.
- 2018 Bond Issue – includes new Ellis Hollow Water Tank & Water Mains.
- Review Town’s Long-Term Debt.
- Five-Year Financial Projections 2018 - 2022.
- Review of the Town's voluntary contributions to community organizations.
- Establish Sidewalk Districts within the Town.
- Property Tax Cap for FY-2019.
- Five-Year Capital Improvement Plan and 2019 Capital Budget.
- 2019 Ithaca Town Budget.
• Discuss Town's Reserve Funds and Accounts.
The committee reviewed and discussed the report on the Town’s reserve funds and accounts.
- Parks, Recreation and Open Space Plan Account: The Fund Balance of the General Townwide
Fund includes funds designated for the purpose of future park development and the
purchasing of development rights, as outlined in the Town’s Park, Recreation and Open Space
Plan, as adopted on December 12, 1997. As of 1/01/17, the balance of this account was
$726,866. During FY-2017 this account was increased by a $100,000 re-designation of fund
balance, plus $795 in interest income. There were no expenditures. The balance of this
account as of 12/31/17 was $827,661.
This account is funded by the Town Board making an annual re-designation of a portion of the
Fund Balance of the General Townwide Fund from unreserved to reserved. Additional income
is received from interest earnings. An additional $100,000 in unreserved fund balance was
designated as reserved for this purpose by the Town Board on January 8, 2018 (Resolution No.
2018-022g).
- General Benefit Reserve Account: The fund balances in the General Townwide Fund, General
Part-Town Fund, Highway Part-Town Fund, Water Fund, and Sewer Fund includes reserves
established for managing unanticipated increases in employee fringe benefit costs (e.g. NYS
Employee Retirement System, Health Insurance). The aggregate balance of this account as of
12/31/17 was $350,000. The balance by fund is as follows:
General Townwide Fund $ 165,444
General Part-Town Fund 69,389
Highway Part-Town Fund 79,322
Water Fund 23,811
Sewer Fund 12,034
Total - Benefit Reserve: $ 350,000
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In 2015 the Town Board set the maximum for this account at $350,000, with the balance in
excess of the maximum at year-end to be returned to the unreserved fund equity of the host
funds.
- Preserve Maintenance Account: The General Townwide Fund includes funds designated for
the maintenance of the Pine Tree Wildlife Preserve, donated to the Town by a local family in
2013. In conjunction with the donation of the land, the amount of $40,000 was provided for
future maintenance of the preserve. As of 12/31/17 the balance of this account totaled
$40,129. Future income for this account will be limited to interest earnings.
- Land Stewardship Account: In 2014 the Town purchased the development rights to the Indian
Creek Farm with financial assistance through a State of New York grant. This grant included
$10,000 to be held by the Town, designated for the stewardship of the Indian Creek Farm
lands. For the year ended 12/31/17, the balance of this reserve totaled $9,844. Future
income for this account will also be limited to interest earnings.
- Inlet Valley Cemetery Account: In 2017 the Inlet Valley Cemetery Expendable Trust Fund was
closed and the remaining assets transferred to the General Townwide Fund. The remaining
balance will be used by the Town to maintain the cemetery. As of 12/31/17, the balance of
this account totaled $4,421.
- Highway Equipment Account: The fund balance of the Highway Part-Town Fund includes
funds set aside for the purchase/replacement of highway equipment and machinery. The
balance as of 12/31/17 was $250,000. This reserve is funded by sale of surplus machinery and
equipment, with additional income from interest earnings. The balance in this account as of
1/01/17 was $62,516. During FY-2017, revenues to this account included $130,649 from the
Badger Equipment settlement, $56,700 received from the sale of surplus equipment, and $135
in interest income. Balance of this account as of 12/31/17 was $250,000.
In 2015 the Town Board set the maximum for this account at $250,000, with funds from the
sale of surplus machinery and equipment in excess of the maximum to be deposited to the
unreserved fund balance of the Highway Fund.
- Risk Retention Fund: This fund is used to account for expenditures for 1) direct employee
health and wellness expenditures, including work-related emergency room and clinic health
care visits, and 2) repairs to equipment and facilities not covered by insurance or until
reimbursement from insurance is received. Income for this fund is derived from annual
budgeted inter-fund transfers, plus insurance recoveries and interest income. Fund balance
was $151,899 as of December 31, 2017.
In 2015 the Town Board established the maximum fund balance of the Risk Retention Fund be
set at $150,000, with any amount in excess of the maximum at year-end to be returned to the
unreserved fund equity of the contributing funds.
Mr. Solvig explained that the General Funds, Highway Fund, Water Fund and Sewer Fund are
each budgeted to transfer $3,000 (a total of $15,000) to the Risk Retention Fund in 2018. His
recommendation would be to delay the 2018 transfers to year-end. At that time, depending
on the actual 2018 expenditures from the Risk Retention Fund, the Town could make the
necessary adjustments to the transfers to bring the year-end fund balance to $150,000.
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- SJC Account in Sewer Fund: The Fund Balance of the Sewer Fund includes funds designated
for SJC purposes. In 2015 these purposes were defined by the Town Board as 1) to pay for
expenditures related to the improvement of jointly-owned sewer interceptor lines, and 2) to
pay the Town’s share of the City of Ithaca’s bonded debt issued to pay for Ithaca Area
Wastewater Treatment Facility (IAWWTF) improvements. The balance in this account as of
12/31/17 totaled $1,509,746.
1) Jointly-owned Sewer Interceptor Lines: Interceptor sewers convey sewage from the
Town through the City of Ithaca for treatment at the IAWWTF. These interceptor
sewers are jointly owned with the City, and the Town is responsible for a portion of the
maintenance and replacement costs of these lines. The replacement of the State Street
Interceptor is the last of five projects originally agreed to between the Town and City.
$300,000 of the SJC account balance has been designated to pay for future
improvement of jointly-owned sewer interceptor lines.
2) IAWWTF Bonded Debt: In 2015, The Town Board determined it would be prudent for
the Town to designate funds to pay part of this debt in the event of future economic
hardships, and that such funds would be in an amount equal to 25% of the Town’s share
of outstanding IAWWTF debt at year-end. As of 12/31/17, the amount available in the
SJC account was $1,209,746.
• Update on Sales Tax and Mortgage Tax Collections through November 2017.
- Sales Tax Collections: The Committee reviewed the Sales Tax Collections Report for 2017
through November. Mr. Solvig informed the Committee that the Town has not yet received
the December payment, but if it is about the same as the past two years, collections for the
year would total about $3,132,000. This would be a 4.3% increase over the $3,003,943
collected in 2016.
- Mortgage Tax Collections: Mr. Solvig reported that collections for 2017 totaled $279,791, a
2.2% decrease from the $286,227 collected in 2016. This was the second year where
collections decreased from the prior year.
The meeting was adjourned at 12:58 p.m.
Next Meeting: Wednesday, February 28, 2018 at 12:00 pm, Town Hall - Aurora Room
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Town of Ithaca
Budget Committee
2018 Meeting Schedule
Budget Committee meetings are held monthly, scheduled for the third Wednesday of the
month. Meetings will begin at 12:00 noon, and will be held at Town Hall in the Aurora Room.
January 17: Set meeting schedule for 2018. Discuss Committee priorities for 2018. Review
and discuss Town's Reserve Funds/Accounts.
February 28: (4th Wednesday) Preliminary Financial Report for the Year Ended December
31, 2017. Report on 2017 Sales Tax & Mortgage Tax Collections. Discuss 2018 Bond Issue.
March 21: Financial Report for the Year Ended December 31, 201 7. Continue discussion of
2018 Bond Issue (if needed). Review Five-Year Financial Projections for 2018 - 2022.
April 18: Continue review of Five-Year Financial Projections for 2018 - 2022. Review of
Long-Term Debt and Debt Service schedules.
May 23: (4th Wednesday) Review Five-Year Capital Improvement Plan for 2019 - 2023.
Review and discuss the Capital Budget Process.
June 27: (4th Wednesday) Continue review of Five-Year Capital Improvement Plan for 2019
- 2023. Discuss Property Tax Cap Override for FY-2019.
July 18: Continue review of Five-Year Financial Projections. Discuss FY-2019 Property Tax
Cap. Discuss possible increase to wage scale for FY-2019.
August 15: Review Tentative 2019 Budget.
September 12: (2nd Wednesday) Review Tentative 2019 Budget.
October 17: If Needed – no meeting scheduled.
November: No Meeting
December: No Meeting
TOWNOFITHACABUDGETCOMMITFEEWednesday,January17,2018-12:00p.m.TownHall-AuroraConferenceRoomAGENDA•ReviewandapprovemeetingminutesfromSeptember20,2017.•DiscussthepurchaseofnewfurnitureforIthacaTownCourtoffice.•Set2018BudgetCommitteemeetingdates.•Discuss2018BudgetCommitteepriorities.•ReviewandDiscussTown’sReserveFunds/Accountsasof12/31/2017.-GeneralBenefitReserveAccount-Parks,RecreationandOpenSpacePlanReserveAccount-LandPreserveMaintenanceAccount-LandStewardshipAccount-InletValleyCemeteryAccount-KighwayEquipmentReserveAccount-RiskRetentionFund-SewerFund-SiCAccount•Updateon2017SalesTaxandMortgageTaxcollections.•OtherItems-2018JusticeCourtAssistanceProgram(JCAP)GrantNextMeeting:Wednesday,February21,2018at12:00p.m.
BUDGETCOMMIUEEDraftMeetingMinutes-September20,2017Committeepresent:EricLevine-Chairman,PatLear’,PamBleiwasStaffpresent:MikeSolvig,JudyDrake,JimWeberOtherspresent:BillGoodman(arrived12:10)Meetingwascalledtoorderat:12:04p.m.AGENDAITEMS:•ReviewandapprovemeetingminutesfromAugust23,2017.Moved:PamBleiwasSecond:EricLevineMotionPassed•UpdateStatusof2017SalesTaxCollections.Forthefirstsevenmonthsof2017,JanuarythroughJuly,collectionsareat106.2%comparedtothesameperiodin2016.Sixoutofsevenmonthshaveseencollectionsincreaseoverthesamemonthoftheprioryear,althoughcollectionsforJuly2017of$257,300arejust0.24%overthe$256,678collectedinJuly2016.SalesTaxcollectionsthroughJuly2017total$1,773,330againstcollectionsof$1,670,401forthesameperiodin2016.•ContinueReviewofTentative2018IthacaTownBudget.TheCommitteereviewedanddiscussedtheSummaryofAdjustmentstotheTentative2018IthacaTownBudget.Total2018Budgetis$26,185,011,whichisa3.36%increaseover2017.The2018PropertyTaxLevyremainsat$8,238,000,a5.09%increaseover2017.•ReviewandDiscussTentative2018PersonnelBudget.-The2018Budgetincludesa2%costoflivingadjustmentonthewagescale.-ThebudgetedtotalforPersonnelCostsincreasesfrom$5,833,245in2017to$6,367,515in2018,anincreaseof$534,270or9.16%.Personnelcostsrepresent24.00%ofthe2018IthacaTown’sBudget.-TotalforPersonalServices(employeesalariesandwages)increasesto$4,099,945in2018from$3,751,120in2017,anincreaseof$348,825or9.30%.Thefollowingpersonneladditionsareincludedatatotalcostof$183,092:oOne(1)full-timeCivilEngineerpositionwillbeaddedtoPublicWorks/Engineeringatacostof$62,213,chargedtotheGeneralTownwideFund.oOne(1)part-timeAdministrativeAssistantIpositionwillbeaddedtotheZoning&CodeEnforcementDepartmentatacostof$19,958,chargedtotheGeneralPart-TownFund.oOne(1)full-timeWorkingSupervisorpositionwillbeaddedtothePublicWorksDepartmentatacostof$60,819,chargedmainlytotheHighwayPart-TownFund.oOne(1)full-timeLaborerpositionwillbeaddedtothePublicWorksDepartmentatacostof$40,102,chargedmainlytotheHighwayPart-TownFund.1
oTwo(2)full-timeEngineeringTechnicianpositions,previouslychargedtotheGeneralTownwideFund,willnowbechargedtotheWaterFund(60%)andSewerFund(40%).-ThebudgetedtotalforEmployeeBenefitsincreasesto$2,267,570in2018from$2,082,125in2017,anincreaseof$185,445or8.91%.Totalemployeebenefitsare55.31%ofthetotalforemployeesalariesandwages.-FullyfundstheSustainabilityPlannerposition,whichislargelygrantfunded,through2018.-Full-timeequivalentpersonnel(non-electedpositions)increasefrom63.0in2017to66.5in2018.TENTATIVE2016PERSONNELBUDGETFUND2017PERSONALEMPLOYEE2018%CHANGE,BUDGETSERVICESBENEFITSBUDGETFROM2017GeneralTownwideFund$2,770,390$1,864,825$1026,800$2,891,4254.37%GeneralPart-TownFund1,195,675880,950447,3251,328,2751109%HighwayTownwideFund255,640119,645375,2855HighwayPart-TownFund1,447,780712,230443,9801,156,2100WaterFund272,620237,300152,300389,6004291%SewerFund146,780149,20077,520226,72054.46%TOTAL$5,833,245$:4,099,945$Z257,570$6?67,5159.18%•Reviewanddiscussvoluntarycontributionstocommunityorganization5forFY-2018.Contributionstocommunityorganizationswilltotal$382,773for2018,anincreaseof2.7%overthe2017budgetedtotalof$372,704.Thisincludesa2%increasefortheRecreationPartnershipandJointYouthCommissionprograms,andincreasingtheTown’scontributiontoCityparksfrom$50,000in2017to$55,000in2018.BillGoodmanexplainedheisincreasingthecontributiontoCityparksto$55,000asthisputsitathalfoftheamounttheTowncontributedin2014,priortothereductionsbeginningin2015.Healsonotedwewillleave$7,500inthebudgetfortheGorgeRangerProgramatSixMileCreekeventhoughwedon’tknowyetifthisprogramwillexistin2018.•Reviewanddiscuss2018FireProtectionContractbudgetforCityofIthaca.WehavenotyetreceivedtheCity’sFireDepartmentbudgetfor2018.TheTownhasbudgeted$3,175,000forfireprotectionservicesthroughtheCity.TownstaffisestimatingthatthetotalexpenditureforfireprotectionserviceswiththeCitywillbeapprox.$3,066,000for2017.•Reviewanddiscuss2018FireProtectionContractbudgetforVillageofCayugaHeights.FireprotectionservicesthroughtheVillageofCayugaHeightswillbe$182,365.55in2018.Thisisunderthe$200,000originalestimatebystaffinthe2018IthacaTownBudget.Thebudgetwillbereducedby$17,500to$182,500.•Reviewanddiscuss2018BudgetfortheIthacaAreaWastewaterTreatmentFacility.The2018preliminarybudgetfortheIthacaAreaWastewaterTreatmentFacilityis$4,291,272.Withestimatedrevenuesof$1,212,909andappropriatedfundbalanceof$100,000,thetotalcontributionrequiredofthepartnersisbudgetedfor$2,978,363.TheTown’sshareofthe20182
IATFFbudgetis$1,261,783,whichisovertheamountof$1,225,000originallyestimatedbyTownstaff.The2018budgetfortheSewerFundhasbeenincreasedby$40,000tofundthisincrease.•Discuss2017BondIssue.Mr.SolvigrecommendedtotheCommitteethatthe2017BondIssuebepostponeduntil2018.A2018BondIssueisestimatedat$4,850,000,andwillincludethenew$2,750,000EllisHollowWaterTank&WaterMainproject.CombiningtheseissuestogethershouldsavetheTownapprox.$30,000inbondissuancecosts.TheCommitteeconcurredwiththerecommendation.•OtherItems.-2018PropertyTaxCap:TheTownhasreceivedtheTaxBaseGrowthFactorusedforthepropertytaxcapcalculation.The2018factoris1.0148,anincreaseoverthe2017factorof1.0116.-UpdateonEdRMaplewoodCertiorariProceedings:TompkinsCountyAssessorJayFranklinhasinformedtheTownthatEdRMaplewoodLLCagreedtodiscontinuetheircertiorariproceedingsoverthe$9,000,000assessedvalueoftheirpropertyintheTownofIthaca.AlandleasefiledwiththeAssessor’sOfficebetweenEdRMaplewoodandCornellUniversitystatedthenetpresentvalueofthelandwas$9,000,000,whichiswhatitwasassessedat.Itwasdifficulttoargueagainsttheassessedvaluewhentheyhadpreviouslyagreedwithit.-HanshawRoadWalkway:TheTownhasreceivedthefinalinvoicefromTompkinsCountyforitsshareofcostsforthisproject.The$32,157.23invoiceisconsiderablylessthanthe•approx.$100,000originalestimateoftheTown’sshare.TheTownhadpreviouslyputfundsasidetopayforthiswork,withthebalancecurrentlyat$100,730.Mr.Solvigstatedthat,iftherearenoobjections,hewilltransfertheremaining$68,573topartiallyfundtheStateRoute96BSidewalkproject.TheCommitteehadnoobjectionstomakingthistransfer.Themeetingwasadjournedat12:34p.m.NextMeeting:Wednesday,January17,2018at12:00pm,TownHall-AuroraRoom3
SUMMARYOFADJUSTMENTSTOTENTATIVE2018ITHACATOWNBUDGETAccount..TentatIveAdjustedChangeInNumberAccountDescriptionBudgetBudgetBudgetGENERALTOWNWIDEFUNDA1330400CONTRACTUAL$500$11000$500A1410.416CELLPHONEREIMBURSEMENT400360(40)A7110.100REGULARSALARIES80,500134,60054,100A7110.101PUBLICWORKSDEPT222,100222,200100A7320.463RECREATIONPARTNERSHIP70,50470,5051A9030.800SOCIALSECURITY139,000142,7003,700A9045800LIFEINSURANCE4,1004,200100A9060800GROUPHEALTHINSURANCE516500534,50018,000TOTALBUDGET:GeneralFund-Townwlde$4,851,761$4,928,222$76,461HIGHWAYTOWNWIDEFUNDIDAS13O.100REGULARSALARIES$17,470$17,830$360DA5142.100REGULARSALARIES174,735174,81075TOTALBUDGET:HIghwayFund-Townwide$772,750S773,185$435HIGHWAYPART-TOWNFUND065110.100REGULARSALARIES$255,555$255,690$135DB5110.101DEPUTYHIGHWAYSUPERINTENDENT90,41591,8501,435D85112.100REGULARSALARIES47,32547,35025065130.100REGULARSALARIES98,975101,0002,025DB5140.100REGULARSALARIES113,580113,64060TOTALBUDGET:HighwayFund-Part-Town$3,486,633$3,490,313$3,680WATERFUND’F9901.907TRANSFERTODEBTSERVICEFUND$992,331$807,031$(185300)TOTALBUDGET:WaterFundjS7,225,819$7,040,519$(185,300)SEWERFUNDI08150.472SEWAGETREATMENTCHARGE$1,225,000S1,265,000$40,000TOTALBUDG,ET:SewerFund3$3,262,20853,302,208S40,000FIREPROTECTiONFUNDSF3410.4B1FIREPROTECTIONCONTRACT-VILLAGE$200,000$182,500$(17,500)TOTALBUDGET:FireProtectionFund$3,400,000$3,382,500$(17,500)DEBTSERVICEFUNDV9710XXXPUBLICIMPROVEMENTBONDS-SERIES2017$185,300$-$(185,300)TOTALBUDGET:DebtServiceFundS1,526,444$1,341,144S(185,300)TOTAL2018IThACATOWNBUDGETIS26,452,535$26,185,011$(267,524)Revised9/19/20174
TownofIthacaBudgetCommittee2018MeetingScheduleBudgetCommitteemeetingsareheldmonthly,scheduledforthethirdWednesdayofthemonth.Meetingswillbeginat12:00noon,andwillbeheldatTownHallintheAuroraRoom.January17:Setmeetingschedulefor2018.DiscussCommitteeprioritiesfor2018.ReviewanddiscussTown’sReserveFunds/Accounts.February21:PreliminaryFinancialReportfortheYearEndedDecember31,2017.Reporton2017SalesTax&MortgageTaxCollections.Discussionof2018BondIssue.March21:FinancialReportfortheYearEndedDecember31,2017.Continuediscussionof2018BondIssue(ifneeded).ReviewFive-YearFinancialProjectionsfor2018-2022.April18:ContinuereviewofFive-YearFinancialProjectionsfor2018-2022.ReviewofLong-TermDebtandDebtServiceschedules.May23:(4UWednesday)ReviewFive-YearCapitalImprovementPlanfor2019-2023.ReviewanddiscusstheCapitalBudgetProcess.June27:(4Wednesday)ContinuereviewofFive-YearCapitalImprovementPlanfor2019-2023.DiscussPropertyTaxCapOverrideforFY-2019.July18:ContinuereviewofFive-YearFinancialProjections.DiscussFY-2019PropertyTaxCap.DiscusspossibleincreasetowagescaleforFY-2019.August15:ReviewTentative2019Budget.September19:ReviewTentative2019Budget.October17:IfNeeded—nomeetingscheduled.November:NoMeetingDecember:NoMeeting
TOWNOFITHACARESERVEFUNDSANDACCOUNTSPARK.RECREATIONANDOPENSPACEPLANRESERVEACCOUNT-TheFundBalanceoftheGeneralTownwideFundincludefundsdesignatedforthepurposeoffutureparkdevçlopmentandthepurchasingofdevelopmentrights,asoutlinedintheTown’sPark,RecreationandOpenSpacePlan,asadoptedonDecember12,1997.Asof1/01/17,thebalanceofthisaccountwas$726,866.DuringFY2017thisaccountwasincreasedbya$100,000re-designationoffundbalance,plus$795ininterestincome.TherewerenoexpendituresfromthisaccountduringFY-2017.Thebalanceofthisaccountasof12/31/17was$827,661.ThisaccountisfundedbytheTownBoardmakinganannualre-designationofaportionoftheFundBalanceoftheGeneralTownwideFundfromunreservedtoreserved.Additionalincomeisreceivedfrominterestearnings.Anadditional$100,000inunreservedfundbalancewasdesignatedasreservedforthispurposebytheTownBoardinJanuary2018.Nomaximumamounthasbeenestablishedforthisreserve.Itwasrecommendedthatthequestionofamaximumdesignatedamountberevisitedwhenthebalancereaches$1,000,000.GENERALBENEFITRESERVEACCOUNT-ThefundbalancesintheGeneralTownwideFund,GeneralPart-TownFund,HighwayPart-TownFund,WaterFund,andSewerFundincludesreservesestablishedformanagingunanticipatedincreasesinemployeefringebenefitcosts(e.g.NYSEmployeeRetirementSystem,HealthInsurance).Theaggregatebalanceofthisreserveasof12/31/17was$350,000.Thebalancebyfundisasfollows:GeneralTownwideFund$165,444GeneralPart-TownFund69,369HighwayPart-TownFund79,322WaterFund23,811SewerFund12,034Total-BenefitReserve:$350,000Inpastyearsthisaccountwasfundedbyannuallyre-designatingaportionoffundequityfromunreservedtoreservedinthosefundsservedbythisreserve.Additionalincomeisreceivedfrominterestearnings.In2015theTownBoardestablishedthemaximumofthisreservebesetat$350,000.Balanceinexcessofthelimitatyear-endtobereturnedtotheunreservedfundequityofthehostfunds.INLETVALLEYCEMETERYACCOUNT-In2017theInletValleyCemeteryFundwasclosedandtheremainingassetstransferredtotheGeneralTownwideFund,tobeusedinmaintainingtheInletValleyCemetery.Fortheyearended12/31/17,thebalanceofthisaccounttotaledS4,421.Futureincomeforthisreservewillbelimitedtointerestearnings.Nomaximumamountwasestablishedforthisaccount.PRESERVEMAINTENANCEACCOUNT-TheFundBalanceoftheGeneralTownwideFundalsoincludesfundsdesignatedforthemaintenanceofthePineTreeWildlifePreserve,donatedtotheTownbyalocalfamilyin2013.Inconjunctionwiththedonationoftheland,theamountof$40,000wasalsodonatedtoprovideforfuturemaintenanceofthepreserve.Asof1/01/17,thebalanceofthisaccountwas$40,097.DuringFY-2017thisaccountwasincreasedby$32ininterestincome.TherewerenoexpendituresfromthisaccountduringFY-2017.Asof12)31/17thebalanceofthisaccounttotaled$40,129.Futureincomewillbelimitedtointerestearnings.Asthisaccountisexpectedtodecreaseovertime,nomaximumamountwasestablished.
LANDSTEWARDSHIPACCOUNT-In2014theTownpurchasedthedevelopmentrightstotheIndianCreekFarmwithfinancialassistancethroughaStateofNewYorkgrant.Thisgrantincluded$10,000tobeheldbytheTown,designatedforthefuturestewardshipoftheIndianCreekFarmlands.Asof1/01/17,thebalanceofthisaccountwas$10,018.RevenueforFY-2017totaled$8ininterestincome,andexpendituresof$182tocompletetheannualconservationeasementreportstoNYS.Fortheyearended12/31/17,thebalanceofthisaccounttotaled$9,844.FutureincomeforthisreservewillbelimitedtointerestearningsAsthisaccountisalsoexpectedtodecreaseovertime,nomaximumamountwasestablished.HIGHWAYEQUIPMENTRESERVEACCOUNT-TheFundBalanceoftheHighwayPart-TownFundincludesfundsdesignatedforthepurchase/replacementofhighwayequipmentandmachinery.Thebalanceinthisaccountasof1/01/17was$62,516.DuringFY-2017,revenuestothisaccountincluded$130,649fromtheBadgerSettlement,$56,700receivedfromthesaleofsurplusequipment,and$135ininterestincome.Balanceofthisaccountasof12/31/17was$250,000.Thisaccountisfundedbysaleofsurplusmachineryandequipment,withadditionalincomefrominterestearnings.In2015theTownBoardestablishedthemaximumofthisaccountbesetat$250,000.Balanceinexcessofthelimitatyear-endtobereturnedtotheunreservedfundequityoftheHighwayFund.RISKRETENTIONFUND-Thisfundisusedtoaccountforexpendituresfor1)directemployeehealthandwellnessexpenditures,includingwork-relatedemergencyroomandclinichealthcarevisits,and2)repairstoequipmentandfacilitiesnotcoveredbyinsurance,oruntilreimbursementfrominsuranceisreceived.Incomeforthisfundisderivedfromannualbudgetedinter-fundtransfers,plusinsurancerecoveriesandinterestincome.Fundbalanceasof12/31/17was$151,899.TheTownBoardhasestablishedthemaximumfundbalanceoftheRiskRetentionFundbesetat$150,000.Balanceinexcessofthelimitatyear-endtobereturnedtotheunreservedfundequityofthecontributingFunds.SJCACCOUNTINSEWERFUND-TheFundBalanceoftheSewerFundincludesfundsdesignatedforSJCpurposes.In2015thesepurposesweredefinedbytheTownBoardas1)topayforexpendituresrelatedtotheimprovementofjointly-ownedsewerinterceptorlines,and2)topaytheTown’sshareoftheCityofIthaca’sbondeddebtissuedtopayforIthacaAreaWastewaterTreatmentFacility(IAWWTF)improvements.Thebalanceinthisaccountasof12/31/17totaled$1,509,746.1)Jointly-ownedSewerInterceptorLines:InterceptorsewersconveysewagefromtheTownthroughtheCityofIthacafortreatmentattheIAWWTF.TheseinterceptorsewersarejointlyownedwiththeCity,andtheTownisresponsibleforaportionofthemaintenanceandreplacementcostsoftheselines.TheTownofIthacaandtheCityofIthacamustinitiallyapproveallcapitalprojectsandrelatedexpendituresbeforeanyconstructioncantakeplace.ThereplacementoftheStateStreetInterceptoristhelastoffiveprojectsoriginallyagreedtobetweentheTownandCity.$300,000oftheSJCaccountbalancehasbeendesignatedtopayforfutureimprovementofjointly-ownedsewerinterceptorlines.2)IAWWTFBondedDebt:Asof12)31/16,outstandingbondeddebttotaled$13,289,372.TheTownshare(40.88%)ofthistotalamountsto$5,432,695.In2015,TheTownBoarddetermineditwouldbeprudentfortheTowntodesignatefundstopaypartofthisdebtintheeventoffutureeconomichardships,andthatsuchfundswouldbeinanamountequalto25%oftheTown’sshareofoutstandingIAWWTFdebtatyear-end,tobereviewedandadjustedannually.Thisamount,basedonthe12/31/16outstandingdebttotal,wouldequal$1,358,174.Asof12/31/16,theactualamountavailableintheSJCaccountwas$1,209,746.Thisis$148,428belowthecalculatedamount.2
TOWNOFITHACASALESTAXCOLLECTIONSFortheYearEndingDecember31,2017HighwayPart-TownLiabilityMonthMonthCollectedGeneralGeneralTownwidePart-TDwnA112001120001120$95,000.00$950,000.00$1955,000.00$3,000,000.00TOTALJanuaryMarch7,560.4975,604.90155,586.92238,752.31FebruaryMarch6,413.6564,136.44131,986.04202,536.13MarchApril9,494.8494,948.44195,393.90299,837.18AprilJune7,101.4771,014.66146,140.70224,256.83MayJune7,181.1271,811.20147,779.90226,772.22JuneJuly10,256.05102,560.47211,058.66323,875.18JulyAugust8,147.8481,478.43167,674.05257,300.32AugustSeptember7,514.1375,141.34154,632.97237,288.44SeptemberOctober10,661.90106,619.00219,410.67336,691.57OctoberNovember7,703.2877,032,81158,525.40243,261.49NovemberVIEAccrual7,584.2475,842.41156,075.71239,502.36DecemberV/EAccrual----TOTALCOLLECTIONS:$89,619.01$896,190.10$1,844,264.92$2,830,074.03TOTAL-2017BUDGET:$89,619.01$896,190.10$1,844,264.92$2,630,074.03%of2017BudgetCollected:94.3%94.3%94,3%94.3%Est.2017TotalCollections:S97,766.19S977,661.92$2,011,925.37$3,067,353.49Est.Over(Under)Budget:2,766.1927,661.9256,925.3787,353.492014-2017COMPARISONOFSALESTAXCOLLECTIONSPERIOD2014201520162017COMPARISONJanuary220,056,70246,519.03234,073.60238,752.31102.00%February186,064.03193,488.68173,405.66202,536.13116.80%March327,857.13263,293.38254,499.79299,837.18117.81%1stQuarter733,977.86703,301.09661,979.05741,125.62111.96%April219,069.27232,815.10252,207.77224,256.8388.92%May215,857.69231,478.57220,044.01226,772.22103.06%June348,793.74294,863,66279,491.54323,875.18115.88%2ndQuarter783,720.70759,157.33751,743.32774,904.23103.08%FirstsMonths1,517,698.561,462,458.421,413,722.371,516,029.85107.24%July228,195.87242,962.28256,678.29257,300.32100.24%August241,303.19245,767.26235,865.88237,288.44100.60%September321,392.55289,144.08314,611.21336,691.57107.02%3rdQuarter790,891.61777,873.62807,155.38831,280.33102.99%FirstSMonths2,308,590.172,240,332.042,220,877.752,347,310.18105.69%October240,840.03272,562.76238,071.61243,261.49102.18%November228,886.09252,177.41242,520.42239,502.3698.76%December356,967.92302,264.18302,473.47-0.00%4thQuarter826,494.04827,004.35783,065.50482,763.8561.65%jANNUALTOTAL3,135,084.213,067,336.393,003,943.25-0.00%l