Friday, November 22, 2002
Mayor David O. Ryan has proposed an $8 million general fund budget for 2003 that calls for a spending increase of just $61,786, but a 5.5-mill increase in property taxes, plus layoffs. Here is a breakdown of major income and expenditure items (with last year's numbers in parentheses):
REVENUE
Real estate taxes: $4,445,760 ($3,956,196).
Per capita, realty transfer wage and other taxes: $1,288,300 ($1,345,300).
Cable television franchise fee: $135,000 ($115,000).
Fines and costs: $120,000 ($110,000).
Interest earnings: $32,500 ($77,200).
Grants and gifts: $136,600 ($195,762).
Departmental earnings: $382,500 ($399,500).
Tax anticipation loan: $1,250,000 ($1,250,000).
Transfer from sewer and other city accounts: $186,295 ($127,000).
SPENDING
Police: $1,648,691 ($$1,726,714).
Fire: $814,995 ($844,611).
Debt service: $2,113,533 ($2,030,804).
Employee payroll taxes and benefits $1,177,827 ($1,115,955).
Traffic and parking: $360,000 ($386,500).
Library: $256,280 ($233,559).
Insurances (excluding hospitalization): $337,805 ($269,700).
Streets: $164,530 ($212,014).
Building maintenance: $134,106 ($113,182).
Finance: $196,879 ($190,515).
Treasurer: $119,994 ($115,939).
Vehicle maintenance: $117,126 ($114,095).
RED INK
Sharon is facing shrinking revenue and rising costs in a number of areas in 2003. They include:
Starting budget deficit of $169,261.
Interest income down $45,000.
State pension aid down $34,000.
Weed and Seed contribution of $40,000.
Firetruck debt of $82,729.
Health insurance up $121,539.
Other insurances up $68,105.
Employee salaries up $130,000.
Source: City of Sharon