FISCAL YEAR 2021 ANNUAL BUDGET FY2021 Begins July 1, 2020 Ends - - PowerPoint PPT Presentation

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Oct 01, 2023 229 likes •379 views

FISCAL YEAR 2021 ANNUAL BUDGET FY2021 Begins July 1, 2020 Ends June 30, 2021 Projections based on previous 3 years audited financials, along with future financial changes. Strong focus on actual revenues and balanced expenses off of the

SLIDE 1

FISCAL YEAR 2021 ANNUAL BUDGET

SLIDE 2

FY2021

Begins July 1, 2020 Ends June 30, 2021 Projections based on previous 3 years audited financials, along with future financial changes. Strong focus on actual revenues and balanced expenses off of the income numbers.

SLIDE 3

INCOME & REVENUE

Code Enforcement

Permits & Inspections Parking meters

Grants Intergovernmental Taxes

Commercial/Residential Earned Income Tax Personal Property Tax Highway User Fee Financial Corp. Tax Disposal Fee Rebate

Community Open Space Police State Aid

SLIDE 4

Income & Revenue Totals

FY2021 Income Budget

Fines, Licenses & Permits $346,666 Grants $117,317 Intergovernmental $38,870 Other $15,500 Taxes $845,000 Capital Improvement $110,900 Total Revenue $1,474,253

SLIDE 5

Fees

New negotiated Cable Franchise Agreement
Permits and Rentals budget decreased mainly due to

Business License Fee

Estimating parking meter & code enforcement income to increase

with a full year of administering ordinances

SLIDE 6

Government Funding

GRANTS

Community Open Space

$100,000 Earmarked for recreational projects

Police State Aid

$17,317 Decreased by $2,000 from prior year

INTERGOVERNMENTAL

Financial Corporation Tax

$9,145 Tax on net income of a corporation/association

Highway User Fee (HUR)

$27,725 Share of gas and vehicle titling tax

Grants awarded are restricted in use

SLIDE 7

Taxes

Ordinance 2020-06 will set the rates for

FY2021

Steady tax rates from prior year

❖ Residential Rate = 0.24% (has not been increased in over 40 years) ❖ Commercial Rate = 0.52% ❖ Public Utility = 0.75% These are the utility companies that offer services in the Town of Upper Marlboro

❖ Personal Property = 0.45%

Business property assets

In Prince George’s County, the Town of Upper Marlboro tax rates remain the lowest

SLIDE 8

Tax Year Comparison

$119,350 $148,836 $28,027 $332,265 $202,255 $133,750 $161,250 $31,000 $359,000 $160,000 $- $50,000 $100,000 $150,000 $200,000 $250,000 $300,000 $350,000 $400,000 RESIDENTIAL COMMERCIAL PERSONAL PROPERTY PUBLIC UTILITY EARNED INCOME TAX FY2021 (BUDGETED) FY2020 (ACTUAL)

SLIDE 9

EXPENSES

Salary, Wages & Benefits

Departmental

Contractors/Consultants

Professional Services

Public safety

Protect & Serve Weapons & Equipment

Public works

Beautification Essential Services

Capital improvement

Annexation Debt Service

SLIDE 10

Expense Totals

FY2021 Expense Budget General Government $781,180 Public Safety $429,457 Public Works $263,616 Total Expenses $1,474,253

SLIDE 11

Expenditures

Salaries Contractors & Consultants For Approval $694,650 Vacancies $59,880 (no rush to hire vacant positions, possible mid-year) * Current FY2020 approved salaries were $791,083 Professional Services $139,500 * This is a combined total of expenses

SLIDE 12

Expenditures Cont…

47% 8% 9% 3% 6% 14% 3% 1% 9%

FY2021 EXPENDITURES

Salaries Grants Contractors Waste Removal Capital Improvement Insurance & Benefits Utilities Committee's Other Expenses

SLIDE 13

Capital Improvement

Vehicle fleet

Completed financing for the purchase of three police vehicles Debt Service = $33,000

Annexation

Phases and Surveys to continue Estimated = $30,000

Grant Match

Grant matching requirements for community projects Match = $30,000