2018 Preliminary Budget For Board Review
1) Have a balanced budget using reasonable revenue and expense expectations. 2) Other than in exigent circumstances adhere to the tax cap. 3) Maintain a NY State Comptroller's rating of "not in fiscal stress.“ 4) Remain debt free. . 5) Maintain a minimum of $15,000,000 general fund surplus (i.e. not otherwise earmarked). The estimated current surplus balance is about $18.000.000 6) Over the course of the next four years, reduce the application of General Fund surplus applied to the following year's budget to $1,500,000 (< 2% of the General and Social Services budgets).
Under the tax cap for the seventh straight year - of $498,000 by about 1) $10,000. Meeting the CAP will allow for state reimbursement of “Raise the Age” Costs. The average tax rate increases by $.16/$1,000 of assessed value or 1.18% 2) from 2017 (about $15.00 per average residence). Individual town rates will vary depending on equalization rates and assessed value totals. Taxable values are up eight-tenths (.82%)of one percent. 3) The County remains debt free. 4) Maintains a NY Comptroller's rating of "not in fiscal stress”. 5) Maintains our repaving and equipment replacement programs for the 6) County Road system. For the first time in many years, increased interest rates on invested 7) funds has provided a significant benefit to revenue.
8) Traffic Diversion Program revenues will help in the reduction of property taxes. 9) We are now operating a school based Mental Health Service in the Norwich, Otselic Valley and Oxford School Districts. We have applied to open a clinic at Chenango Memorial Hospital. 10) Our self funded health plan has a 2018 cost increase of just 3.7% compared to the national average of 4.3%. 11) All 2017 programs are continued in 2018. 12) Spending is up $791,000, up .88% from 2017’s 89.5 million spending level and only 4% from 2013.
13) Revenues, continue to be at very at robust levels. 14) Lessens the application of 2017 General Fund Surplus toward reducing the 2018 budget by $150,000 to $1,900,000. This is the seventh consecutive reduction from the $3,683,000 applied to balance the 2011 budget. 15) Positions us to reduce the application of General Fund surplus by $150,000 per year over each of the next three years to reach a target application of $1,500,000 . 16) Nearly 40% of our local real property tax levy of 25 million goes to Albany to support Medicaid. Notes: A) Subject to Board of Supervisors action/revision B) Subject to minor adjustments until public filing date of 11/15/17
•Year end Fund Balance (50%) • Operating Deficits (10%) • Cash position (20%) • Short term debt (10%) • Fixed costs (10%)
Chenango County Fiscal Score (Weighted )
COMPARING UPSTATE NEWYORK’S JOB GROWTHWITH THE REST OF THE U.S.
TAX FOUNDATION Top Ten Worst 2018 State Business Tax Climate Index Ranks and Component Tax Ranks Individual Unemployment Overall Income Sales Property Insurance Rank Tax Rank Tax Rank Tax Rank Tax Rank New Jersey 50 48 46 50 36 New York 49 49 43 47 30 California 48 50 41 13 13 Vermont 47 44 16 48 18 District of Columbia 47 43 34 45 30 Minnesota 46 45 25 28 37 Ohio 45 47 30 11 8 Connecticut 44 37 27 49 19 Maryland 43 46 18 42 24 Louisiana 42 27 50 30 4 Note:A rank of 1 is best. 50 is worst. Rankings do not average to the total. States without a tax rank equally as 1. D.Cs score and rank do not affect other states. The report shows tax systems as of July 1, 2017 (the beginning of Fiscal Year 2018). Source: Tax Foundation. "2018 State Business Tax Climate Index" https://statetaxindex.org/
Labor Force Trends In NewYork State Excerpts from NYS Comptroller’s Report September 2017 - Throughout the State, change in the labor force has been uneven.While the Long Island and New York City regions saw increases in the last five years, the rest of the State experienced declines, as shown in Figure 4.The Hudson Valley labor force count was essentially unchanged. Four upstate regions saw particularly significant declines of more than 5 percent, including a drop of more than 8 percent or nearly 27,000 workers in the Southern Tier. While the Southern Tier’s unemployment rate decreased by almost three percentage points, its number of employed workers fell by over 5 percent.
Labor Force Trends In NewYork State Population aged 16 to 24 years exhibited no growth over the past five years, with only a slight increase in the number of workers in this age group. Similarly, for the age groups that represent the largest shares of the labor force (those aged 25 to 64 years), combined growth in the population and the number of workers was very small, including a decline among those in the 45-64 age group.
Labor Force Trends In NewYork State Every region in New York had significant growth in the population aged 65 and over, with the population in this group the only one growing in many of the regions.While the downstate regions realized growth in three of the four age groups, there were no regions that exhibited growth across all ages. In five of the State’s 10 regional labor markets (all upstate), the number of people working was smaller in 2016 than five years earlier. Continuing shrinkage of the workforce in regions of New York that have experienced such declines in recent years poses challenges to achieving overall economic growth in these areas and ensuring the long-term vitality of local communities.This trend could also result in fiscal and budgetary issues for the State and local governments.
Chenango County Constitutional Tax Limit 10Year Comparison of Percent Exhausted 75 70 Percent Exhausted 65 60 55 50 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
Chenango County 10 Year Tax Rate Comparison 16.0 15.5 15.0 14.5 14.0 Tax Rate Per Thousand 13.5 13.0 12.5 12.0 11.5 11.0 Tax Cap Tax Cap 10.5 Imposed Imposed 10.0 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 Tentative Year
21 20.5 20 19.5 19 18.5 Millions 18 17.5 17 16.5 16 15.5 15 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Tentanive Years
2.000 1.950 1.900 1.850 1.800 Billions 1.750 1.700 1.650 1.600 1.550 1.500 2013 2014 2015 2016 2017
Chenango County TenYear Comparison Of Actual Expense To Revenue General Fund 83 82 81 80 79 Millions 78 Revenues 77 Expenses 76 75 74 73 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 Year
$7,000,000 $6,000,000 $5,000,000 $4,000,000 $3,000,000 $2,000,000 $1,000,000 $0 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Applied Fund Balance Appropriation Of Surplus During The Fiscal Year
Culture And CHENANGO COUNTY Recreation Economic 0.16% 2018 TENTATIVE BUDGET Assistance Transportation 30.07% 21.16% APPROPRIATIONS Public Safety 12.63% CHENANGO COUNTY Education 1.48% APPROPRIATION COMPARISON Home And Fringe Benefits Community Svces 12.51% 3.68% Health General 11.32% Government Culture And 7.00% Recreation Economic 0.16% Assistance Transportation 30.52% 21.02% Public Safety 12.27% Education 1.45% Home And CHENANGO COUNTY Community Svces Fringe Benefits 3.56% 2017 ADOPTED BUDGET 12.39% Health General APPROPRIATIONS 11.71% Government 6.92%
CHENANGO COUNTY 2018 Applied Other, Federal Aid, Surplus, 2.96% 1.79% TENTATIVE BUDGET Real Property 12.29% Taxes, 29.57% REVENUES State Aid, 15.52% CHENANGO COUNTY REVENUE COMPARISON Sales Tax, Departmental 15.90% Income, Other Tax 19.60% Related Items Other, 1.82% Applied Federal Aid, 2.37% Surplus, 3.03% Real Property 12.96% Taxes, 27.60% State Aid, 16.28% CHENANGO COUNTY 2017 Sales Tax, 15.92% ADOPTED BUDGET Other Tax Departmental REVENUES Related Items Income, 20.02% 2.37%
CHENANGO COUNTY 2018 TENTATIVE BUDGET CHENANGO COUNTY 2018 PROPERTY TAX HOW THE COUNTY TAX LEVY IS RATE DISTRIBUTION DISTRIBUTED BASED ON AVERAGE TENTATIVE COUNTY RATE FOR EVERY ONE THOUSAND DOLLARS IN TAXABLE FULL VALUE Education Economic Economic Assistance $ 6.70 3.01% Development Social Service 0.36% Programs Public Safety $ 2.18 Culture & 49.21% Recreation County Roads & 0.37% General Transportation $ 2.54 Government 2.88% General Government $ 0.39 Home & Community Health $ 0.88 Services 3.04% Education $ 0.41 Health 6.45% Home & Community Services $ 0.42 County Roads & Public Safety Economic Development $ 0.05 Transportation 16.02% 18.66% Culture & Recreation $ 0.05 AVERAGE COUNTY RATE PER THOUSAND $ 13.62
CHENANGO COUNTY TRENDS OF STATE SIN TAX REVENUES THAT OFFSET MANDATES 900000 850000 800000 750000 700000 650000 600000 550000 500000 OFF TRACK BETTING 450000 TOBACCO SETTLEMENT 400000 VLT TRIBAL COMPACT 350000 300000 250000 200000 150000 100000 Note: a one time Tobacco NPM adjustment of 729K 50000 was received in 2016 in addition to the regular 0 payment. 2013 2014 2015 2016 2017 Est.
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