Thursday, January 7, 2016

Town of Saugerties Adopts 2016 Budget

To see 2016 Saugerties Town Budget, click here.

2016 Budget

The State Tax Cap was 0.73.  The town was within the tax cap under the complicated formula established by the State.

General Fund/Outside Village/Highway (excluding special districts)
Spending – $12,002,484, increase of 1.7% from 2015.
Property Taxes - $9,469,323, increase of 1.2% from 2015.

General Fund
Spending was mainly flat.  The town had $200,000 in savings from the county takeover of election costs and spending reductions in serial bonds, insurance and the transfer station.  After several years of losses, the transfer station is expected to at least break even.  Highway Supt. Doug Myer is being paid an $8,000 stipend to manage the transfer station.

Savings were offset by over $200,000 in new spending (including fringe benefits).  An installment debt expense of $28,400 was added (I could not find out what this is for).  Police spending was flat.  Parks/Buildings increased $56,000, or 3.1%.    In 2005, Parks/Buildings spending was $983,000; now, it is $2.1 million.  In 2005, the difference between Parks/Building expenses and revenues was $736,000.   Today, it is $1.64 million

Total Spending - $3,164,673, 6.2% increase.
Property Taxes - $2,803,352, 3.4% increase.

After several years of relatively flat budgets, Highway spending saw spending and taxing increases this year.  Full time salaries increased by 5% and health insurance increased by 7.6%.  A bond anticipation note payment of $42,500 was added to the Highway budget.  

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