2020 2020 Municipal Budget Presentation Budget / Mission - - PowerPoint PPT Presentation

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2020 2020 Municipal Budget Presentation Budget / Mission - - PowerPoint PPT Presentation

2020 2020 Municipal Budget Presentation Budget / Mission Statement In order to serve the diverse needs of our community and to enrich the quality of life for all residents, the Township of Neptune is committed to providing a safe and healthy


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SLIDE 1

2020 2020 Municipal Budget Presentation

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SLIDE 2

Budget / Mission Statement

Fi Fiscal Res esponsib ibili lity Main intain an and Imp Improve Qu Quality of

  • f Lif

Life in every ry neig neighborhood Provision of

  • f ser

servic ices (N (No reduction in ser servic ices s to to the com

  • mmunity)

Public Sa Safety, , He Health & Welf lfare as as pr prio ioritie ies Main intainin ing a a stable tax bas base an and tax rate Providing ser servic ices s to to 6000 6000+ sen senio ior citi citizen res esid idents Rem emain pr prepared for

  • r dis

disaster res esponse se an and rec ecovery ry Deb Debt for

  • r gr

growth of

  • f com
  • mmunity an

and di distributio ion of

  • f cos
  • sts

ts to to those who ho rece eceive the be benefit (not to borrow for items we can’t afford) Dea Deali ling wit ith contin inued loss

  • ss of
  • f statutory

ry state pa payments Sus Sustainable bu budgetin ing Maintenance of strong financial ratings from Moody’s and Standard & Poor’s In order to serve the diverse needs of our community and to enrich the quality of life for all residents, the Township of Neptune is committed to providing a safe and healthy community for individuals of all ages through the offering of programs, services, information, and access.

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Impact of CoVID-19 Public Health Emergency

St State ai aid un uncertainty (a (amount an and pa payment sch schedule) Revenue los

  • ss

 Mu Municip ipal l Cou Court clos

  • sed

 Bu Business re regis istratio ion fees  Con Constructio ion perm rmit it re revenue  Interest on

  • n inves

vestments  Gra Grant fun funded prog rograms

 Ex Expense ses rela elated to to res esponse se  Property tax impact

 Possib

  • ssible

le extensio ion of

  • f grac

race perio riod (no (not t yet yet autho thoriz ized by y St State)  Es Estim timated billin ing for

  • r 3rd

rd Qu

Quart rter Taxes

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SLIDE 4

2016 2016-2020 2020 (Includes Library)

2020 Bu Budget: $45,917,540.65 2019 Budget: $45,204,827.17 2018 Bu Budget: $44,668,204.67 2017 Bu Budget: $43,729,332.07 2016 Bu Budget: $43,453,556.17 1.5 .58% in increase $712,713.48

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SLIDE 5

2020 Budget Information

Th The Total l Bu Budget (in (inclu ludin ing Lib Library ry Tax) has inc increased by $ 712,713.48, 1.5 .58%, as as compared to 2019. Tax Rate is is reduced by 1.3 .3 cents ts per r $100.00 of f assessed valu lue as s a resu sult lt of rela lativ ively ly lo low inc increase in in appropria iatio ions and an inc increase in in taxable le ratable les.

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SLIDE 6

Impact of 2020 Budget

Tax Rate Proje jected to decrease by 1.2 .2 cents per r $100 of valu lue fr from .7 .749 to .7 .736 (1 (1.7 .7% decrease). Tax on home ass ssessed at t $375,000.00 are estim timated at t $2,761.63, a decrease of f $47.12 as compared to 2019.

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How Your Property Tax Dollar is Divided

MUNICIPAL, 35.2% SCHOOL DISTRICT, 45.9% COUNTY, 13.1% FIRE DISTRICTS, 4.2% LIBRARY, 1.6%

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SLIDE 8
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SLIDE 9
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SLIDE 10

State Impact on local budget

Appropria iations CAP (3. (3.5%) Le Levy vy CAP (2% (2%) St State Ai Aid Los Loss (Lo (Local l Property Tax Relie lief) Im Impact will ill con

  • ntin

inue to

  • grow in

in in incr crements eac ach year unle less th the St State Aid id program comes in into compli liance wit ith th the in intent of

  • f th

the program

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SLIDE 11

Underpayment of State Aid to Neptune by Year (Totals more the $57,508,944.00 since 2001 / $5,398,594.00 for 2020 Alone)

2,000,000 3,000,000 4,000,000 5,000,000 6,000,000 7,000,000 8,000,000 9,000,000 10,000,000 11,000,000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

Received Statutory Amount

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SLIDE 12

0.00% 5.00% 10.00% 15.00% 20.00% 25.00% 30.00% 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021* 2022*

State Aid as a Percentage of Total Budget Revenues

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SLIDE 13

6.59% 7.32% 6.43% 7.80% 7.17% 7.00% 6.70% 5.73% 7.69% 6.52% 6.51% 5.15% 5.60% 5.47% 5.47% 5.60% 5.18% 5.11% 5.04% 4.25% 4.56% 0.00% 1.00% 2.00% 3.00% 4.00% 5.00% 6.00% 7.00% 8.00% 9.00% 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021*2022*

Percent of Local Revenue in Budget Traditional Local & UCC

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SLIDE 14
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SLIDE 15

Budget Stability over past 8

  • years. Projected to continue.
  • 10.00%
  • 8.00%
  • 6.00%
  • 4.00%
  • 2.00%

0.00% 2.00% 4.00% 6.00% 8.00% 10.00% Percent Change in Municipal Appropriations

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SLIDE 16

2020 Sources of Revenue

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Budget Appropriations & Levy CAP

Allo llowable le Oper erating Appropria iations: $ 38,2 ,209,702.31 Actu ctual l Appropriations in in 2020 2020 Bu Budget: $ 35,8 ,834,462.00

Under Maximum Permitted Appropriations CAP by: y: $ $ 2,3 2,375,240.31 Allo llowable Tax Le Levy vy: $31 $31,965,392.70 Actual l Tax Le Levy vy: $31 $31,220,939.43 Under Maximum Permitted Le Levy vy CAP by: y: $7 $744 44,453.27

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$2,908,221,306 $2,905,693,847 $2,910,456,833 $2,902,760,800 $2,811,891,900 $3,520,976,700 $3,537,256,010 $3,627,778,200 $3,906,392,700 $4,037,304,000 $4,239,464,300

  • 0.14%
  • 0.09%

0.16%

  • 0.26%
  • 3.13%

25.22% 0.46% 2.56% 7.68% 3.35% 5.01% 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

Net t Valu luatio ion Taxable le

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SLIDE 21

Net Debt for Capital Improvements

0.951%0.883% 0.759% 0.579%0.513% 0.629%0.619%0.604%0.667%0.645%0.672% 0.860% 0.726%0.726%0.790%0.696%0.705%0.679% 0.000% 0.500% 1.000% 1.500% 2.000% 2.500% 3.000% 3.500% 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2018 Percentage Year

Net Debt as a Percentage of Equalized Valuation as of 12/31

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SLIDE 22

0.00% 2.00% 4.00% 6.00% 8.00% 10.00% 12.00% 14.00% 16.00% 18.00% 20.00% 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Percentage Year

Debt Service Expense as a Percentage of Total Revenue

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FREE PUBLIC Library contribution

$800,000.00 $900,000.00 $1,000,000.00 $1,100,000.00 $1,200,000.00 $1,300,000.00 $1,400,000.00 $1,500,000.00 2013 2014 2015 2016 2017 2018 2019 2020

Library Portion of Property Tax

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Neptune Taxes vs. County & State Averages (Based on 2018 Actual)

$6,513.00 $8,975.00 $8,767.00 $- $1,000.00 $2,000.00 $3,000.00 $4,000.00 $5,000.00 $6,000.00 $7,000.00 $8,000.00 $9,000.00 $10,000.00 Neptune Township Monmouth County State of New Jersey

Average Tax Comparison - 2019

Neptune Township Monmouth County State of New Jersey

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Ten Largest Taxpayers (2019)

Owner of Record (2019) Aggregate Assessed Value As a Percentage

  • f Assessed Value
  • f Real Property

1. Neptune Partners LLC/ BNE Real Estate 40,425,200 1.0013% 2. Neptune Plaza Shopping Center LLC 34,135,600 0.8455% 3. Jumping Brook Realty/ Mack Cali Corp 26,175,600 0.6483% 4. JB Neptune Holdings 24,805,100 0.6144% 5. Wal-mart Real Estate Business Trust 23,741,700 0.5881% 6. Woodlands Neptune LLC 22,947,100 0.5684% 7. Ocean Grove Camp Meeting Association 19,503,200 0.4831% 8. HD Development of Maryland, Inc. 16,037,300 0.3972% 9. Ocean Grove NJ, LLC 15,155,000 0.3754% 10. OFW, LLC 12,504,000 0.3097%

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SLIDE 26

“Gimmicks” Avoided

One Time Revenues Pension Deferral School Tax Deferral Appropriations CAP / CAP Waivers Fiscal Year Debt Extraordinary Aid

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AA Rating / Standard & Poor’s

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Sewer Utility

Se Sewer utilit tility is is se self lf-liq liquid idatin ing. Sewer is is regeneratin ing su surp rplu lus. Maj ajor Se Sewer in infr frastructure projects will ill con

  • ntin

inue in in efforts to

  • reduce In

Infi filt ltration & In Inflow.

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Marina 2020 Operations

Mar arin ina Utilit tility is is se self lf-liq liquidatin ing. Watersid ide Reconstruction 10 100% Com

  • mple

lete.

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Public Comment