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CALDWELL, NEW JERSEYCALDWELL, NEW JERSEY
Borough of Caldwell2011 Financial Presentation and Town Meeting
July 12, 2011
CALDWELL, NEW JERSEYCALDWELL, NEW JERSEY
Ann DassingMayor
Peter MurrayCouncil President – Public Safety
Joseph NortonCommunity RelationsRichard Hauser
PersonnelDouglas Piazza
Long Range PlanningJohn CoylePublic Works
Thomas O’DonnellFinance
2011 Caldwell Governing Body
CALDWELL, NEW JERSEYCALDWELL, NEW JERSEY
Lisa O’NeillActing Borough Clerk
Mario BiFalcoDPW Superintendent
Greg SeamanSewer Director
Bill FrintWater Operator
Rob PatersonCCC Director
Greg MasceraBorough Attorney
Kurt DombrowskiChief of Police
Paul MilaniConstruction Official
Anthony GrenciFire Chief
Janet TorsneyInterim Library Director
Paul M. CarelliBorough Administrator
2011 Municipal Departments
Marge CheroneChief Financial Officer
Ida RenneTax Collector
Glenn BeckmeyerBorough Engineer
Marilyn ReeveCourt Administrator
Maria BurakHuman Services Director
CALDWELL, NEW JERSEYCALDWELL, NEW JERSEY
2010 Tax Analysis and Review
CALDWELL, NEW JERSEYCALDWELL, NEW JERSEY
2010 Final Tax Bill
CALDWELL, NEW JERSEYCALDWELL, NEW JERSEY
Municpal 30.3%
MunicpalO/S
0.4%
School49.3%
County20.0%
2010 Tax BreakdownAverage Residential Tax: $9,715
Average Municipal Tax: $2,942
$2,942
$4,790
$1,865
$43
CALDWELL, NEW JERSEYCALDWELL, NEW JERSEY
$2,942$2,906
$2,832
$2,654$2,596
$2,256
$1,500
$1,750
$2,000
$2,250
$2,500
$2,750
$3,000
$3,250
2005 2006 2007 2008 2009 2010
5 Year Municipal Tax History – Average Home
(35.8%)
(2.2%)
(6.7%)(2.6%)
(1.2%)
(15.1%)
CALDWELL, NEW JERSEYCALDWELL, NEW JERSEY
YearMunicpalRate
AVG Home Assessment
AVG TaxMUNICIPAL
AVG HomeTAX Change
Assessed Value
Municipal Tax Levy
MunicipalLevy Change
2001 3.184 $42,791 $1,362 ‐0.5% $104,337,960 $3,322,201 ‐0.7%
2002 3.180 $42,857 $1,363 0.0% $104,870,892 $3,334,892 0.4%
2003 3.369 $42,837 $1,443 5.9% $105,041,936 $3,538,349 6.1%
2004 3.865 $42,994 $1,662 15.1% $105,695,147 $4,085,441 15.5%
2005 0.522 $432,167 $2,256 35.8% $1,034,280,810 $5,394,080 32.0%
2006 0.605 $429,068 $2,596 15.1% $1,028,587,810 $6,218,644 15.3%
2007 0.617 $430,170 $2,654 2.2% $1,028,111,010 $6,448,402 3.7%
2008 0.656 $431,767 $2,832 6.7% $1,029,857,952 $6,859,914 6.4%
2009 0.672 $432,455 $2,906 2.6% $1,034,926,284 $6,956,929 1.4%
2010 0.680 $432,734 $2,943 1.3% $1,035,457,957 $7,040,232 1.2%
NOTE: 2005 was a revaluation year.
10 Year Caldwell Municipal Tax History
CALDWELL, NEW JERSEYCALDWELL, NEW JERSEY
2011 Assessment Summary
CALDWELL, NEW JERSEYCALDWELL, NEW JERSEY
2011 Assessment Breakdown
Type of Property Properties Total Assessment Average Percent
Vacant Land 21 $4,840,100 $230,481 0.4%
Residential 1901 $816,744,350 $429,639 70.5%
Commercial 220 $206,092,200 $936,783 17.8%
Personal Property Telephone 1 $4,245,536 $4,245,536 0.4%
Exempt 79 $125,773,000 $1,592,063 10.9%
SUB‐TOTAL 2222 $1,157,695,186 $521,015 100.0%
(Less Exempt) 79 $125,773,000 $1,592,063
NET VALUATION TAXABLE (2011) 2143 $1,031,922,186 $481,532
CALDWELL, NEW JERSEYCALDWELL, NEW JERSEY
2011 Caldwell Ratable Analysis
2010 Net Valuation = $1,035,457,957
2011 Net Valuation = $1,031,922,186
Decline = ($3,535,771) = - 0.34%
Total Tax Dollars: ($82,171)
MUNICIPAL TAX DOLLARS = ($24,043)
CALDWELL, NEW JERSEYCALDWELL, NEW JERSEY
State Aid ReductionsPension Increases
Revenue Loss
CALDWELL, NEW JERSEYCALDWELL, NEW JERSEY
$686,875$686,879
$863,454$838,761
$1,356,834$1,438,030
$0
$200,000
$400,000
$600,000
$800,000
$1,000,000
$1,200,000
$1,400,000
$1,600,000
2006 2007 2008 2009 2010 2011
5 Year State Aid Reductions
5 Year Cumulative Total: ($2,757,347)
5 Year Percentage Reduction: (52.2%)
CALDWELL, NEW JERSEYCALDWELL, NEW JERSEY
$679,782
$547,199$542,555
$505,768
$312,129
$198,097
$0
$100,000
$200,000
$300,000
$400,000
$500,000
$600,000
$700,000
$800,000
2006 2007 2008 2009 2010 2011
5 Year Increase – NJ State Pension Contributions
5 Year Cumulative Total: $1,596,948
2011 Total Increase: $132,583
2011 Percentage Increase: 24.2%
CALDWELL, NEW JERSEYCALDWELL, NEW JERSEY
$1,459,018$1,454,314
$1,549,894
$1,642,687
$1,780,410
$1,840,899
$1,200,000
$1,300,000
$1,400,000
$1,500,000
$1,600,000
$1,700,000
$1,800,000
$1,900,000
2005 2006 2007 2008 2009 2010
Community Center Revenue 2005 - 2010
2005-2009 Revenue Loss: ($936,291)
4 Year Percentage Reduction: (20.9%)
CALDWELL, NEW JERSEYCALDWELL, NEW JERSEY
ContractNEGOTIATIONS
CALDWELL, NEW JERSEYCALDWELL, NEW JERSEY
5 Year Recreation Shared Services Agreement
$425,000
$479,937$480,437
$511,842
$486,118
$452,472
$400,000
$450,000
$500,000
$550,000
2006 2007 2008 2009 2010 2011
2011 Total Reduction: ($54,937)2011 Percentage Reduction: (11.4%)2012-2020 Agreement: $400,000 per year
CALDWELL, NEW JERSEYCALDWELL, NEW JERSEY
$125,000
$178,115$169,271$168,868
$143,730
$133,121
$0
$25,000
$50,000
$75,000
$100,000
$125,000
$150,000
$175,000
$200,000
2006 2007 2008 2009 2010 2011
Joint Dispatch Shared Services Agreement
2011 Total Reduction: ($53,115)
2011 Percentage Reduction: (29.8%)
2010-2013 Agreement: $125,000 per year
CALDWELL, NEW JERSEYCALDWELL, NEW JERSEY
$309,614
$331,779
$310,010
$305,243
$316,458
$286,959
$250,000
$260,000
$270,000
$280,000
$290,000
$300,000
$310,000
$320,000
$330,000
$340,000
$350,000
2006 2007 2008 2009 2010 2011
Garden State Municipal Joint Insurance
2011 Total Reduction: ($22,165)
2011 Percentage Reduction: (6.7%)
CALDWELL, NEW JERSEYCALDWELL, NEW JERSEY
Other Contract / Cost Reduction Initiatives
• Board of Health Contract – Bloomfield: 4.0% Reduction
• New 3-Year PBA Contract Agreement – Avoid arbitration / $$
• Public Works Contract under Negotiation
• Copier Leases – Elimination of Printers-Toner: $10,000 Savings
• Police Overtime: $165,212 (09) $112,379 (10): 32% Reduction
• Sale of Fire Truck: $62,000
• Updated the Borough’s Fee Ordinance: July 1, 2011.
GOING FORWARD:
• Potential Shared Services Agreement – Municipal Court
• Solar Energy Initiatives with Essex County – Reduce Energy Costs
CALDWELL, NEW JERSEYCALDWELL, NEW JERSEY
InfrastructureUPGRADES
CALDWELL, NEW JERSEYCALDWELL, NEW JERSEY
Infrastructure Upgrades 2010 - 2011
• Kiwanis Oval Field Upgrades: Local Aid Grants $750,000
• Parking Deck Rehabilitation Project: $250,000
• Parkway East / West Project: CDBG-Stimulus Grants $234,000
• Prospect / Highview Resurfacing: CDBG Grant: $82,450
• Smull Avenue Resurfacing: DOT Grant $353,000
• Oak Grove Road Resurfacing: CDBG Grant $82,450
• Forest Avenue Resurfacing: DOT Grant: $245,000
• Lane Avenue Water Main Project and Resurfacing
• Bloomfield Avenue Resurfacing – County Project
• Roseland Avenue Resignaling Project – County Project
OVER $1,746,900 IN GRANT FUNDING !!
CALDWELL, NEW JERSEYCALDWELL, NEW JERSEY
TechnologyUPGRADES
CALDWELL, NEW JERSEYCALDWELL, NEW JERSEY
Technology Initiatives 2010 - 2011
• Online Bill Payment for Taxes and Utility Bills
• Credit Card payment options for the Community Center
• Computerized Lighting Controls for the Kiwanis Oval
• Energy Efficient Lighting Upgrades for the Community Center
• Pool and Gym – NJ Clean Energy Grant: $16,000
• Energy Efficient Heating and Lighting Upgrades DPW
• (6) New Bay Heaters and Lighting – NJ Clean Energy Grant: $32,000
• E-Ticketing System for the Caldwell Police Department
• GIS Mapping for the Water and Sewer Utilities
CALDWELL, NEW JERSEYCALDWELL, NEW JERSEY
Infrastructure / Technology GOING FORWARD
• Road Improvement Program – Identify and Prioritize
• Street Signs – upgrades to new reflectivity standards
• Various building upgrades and refurbishing.
• Public Works Vehicles and Equipment
• Police Department Vehicles and Equipment
• Community Center Building Upgrades
• Technology: Computer System upgrades.
• Technology: Website and Email upgrades.
• Technology: Channel 35 and Live Feeds
CALDWELL, NEW JERSEYCALDWELL, NEW JERSEY
Notable Events
CALDWELL, NEW JERSEYCALDWELL, NEW JERSEY
Notable Events of 2010-2011
• Hired a new Tax / Utility Collector – Ida Renne.
• Implemented a new purchase requisition procedure.
• Hired a Fixed Asset Consultant to identify / track Borough assets.
• Obtained a Standard and Poors Bond Rating Increase to AA-
• Authorized the purchase of Breathing Apparatus for the Fire Dept.
• Identified and Rehabilitated the Community Center Parking Deck.
• In process of improving our Employee Health Plans.
CALDWELL, NEW JERSEYCALDWELL, NEW JERSEY
Funding Projects
CALDWELL, NEW JERSEYCALDWELL, NEW JERSEY
MUNICIPAL BUDGET• Salaries / Health Benefits / Pension / Services / Police / Fire / Capital
• Average Residential 2010 Tax Bill = $2,942.56
CAPITAL PROJECTS (Debt)• Building Upgrades / Vehicles / Road Improvements / Equipment
• Debt Service = $1,046,248 in 2010.
• Annual Payment in Municipal Budget = $428.24
OPEN SPACE TRUST FUND • Park Improvements / Open Space Purchases / Grants
• Municipal Open Space Tax = $47.23 (1 tax point)
Funding Projects
CALDWELL, NEW JERSEYCALDWELL, NEW JERSEY
2011 Municipal Budget
CALDWELL, NEW JERSEYCALDWELL, NEW JERSEY
• 2011 Introduced Budget: $ 11,432,018• 2011 Introduced Tax Levy: $ 7,322,790• Surplus Anticipated: $ 176,500• 2010 Municipal Tax Rate: $ 0.680• Average Residential Assessment: $ 429,639• 2011 Municipal Tax Rate (Introduced): $ 0.710
2011 AVG Residential Municipal Tax Increase
$ 106.61
2011 Municipal Tax Summary - INTRODUCED
CALDWELL, NEW JERSEYCALDWELL, NEW JERSEY
BUDGET AMENDMENTS
CALDWELL, NEW JERSEYCALDWELL, NEW JERSEY
• 2010 Adopted Budget: $ 11,809,280• 2011 Amended Budget: (4.0%) $ 11,334,689• 2011 Amended Tax Levy: (0.0%) $ 7,040,551• Surplus Anticipated: $ 340,500• 2010 Municipal Tax Rate: $ 0.680• 2011 Average Home Assessment: $ 429,639• 2011 Municipal Tax Rate (Amended): $ 0.680
2011 AVG Residential Municipal Tax Increase
$ 0.00
2011 Municipal Tax Summary - AMENDED
CALDWELL, NEW JERSEYCALDWELL, NEW JERSEY
Borough of Caldwell2011 Financial Presentation and Town Meeting
July 12, 2011
THANK YOUQuestions and Discussion