>VILLAGE OF RIDGEWOOD
2010 BUDGET MESSAGE
The Village of Ridgewood in 2009 felt the continued effects of the worst recession, since the great depression. The Village sustained a significant downfall in anticipated revenues of $455,955. ,which negatively effects fund balance. The 2010 reduction in State Aid revenues of $572,072. only imposes additional constraints on the Village to minimize property tax increases while maintaining the same level of services. Proceeds from the sale of a Liquor license for $450,000. will be anticipated as revenue in this years budget. Contractual salaries, health insurance and pension costs remain to hamper efforts to control budgeted expenses.
The 2010 introduced municipal budget has a estimated tax rate increase of 8.8 percent, or a $302.00 increase for the average residential property assessed at $800,000.
The 2010 budget must meet both State imposed budget (expense) and levy (tax) caps. On the budget side the Village has met its spending cap of $1,106,000. This was obtained by implementing an aggressive expense reduction plan. Total expense reductions to be realized in 2010 total $966,327. The introduced budget however does not meet the levy cap. The Village will request a levy cap waiver in the amount of $1,100,000. The levy cap waiver if granted by the State will enable the Village to provide health and safety services to its resident. Also, the levy cap waiver will be an adjustment or pass on to the 2011 tax levy year. The Village will be in a more stable financial position to satisfy the levy cap, due to the second six month savings from the cost reduction plan which will be undertaken this year. It is anticipated that the expense reduction plan will provide several years of property tax relief. Continued efforts to expand inter-local services with surrounding communities and outsourcing of services will be explored and reexamined.
The 2010 Budget will only increase $243,773. over the 2009 Budget. Large expense items in the budget are:
Group Health Insurance increased 19.83% or $684,219. The Village solicited bids for alternative plans, but was unsuccessful in securing a cost effective solution.
Other Insurance Workers Compensation appropriation rose $62,629. Funds will replenish the insurance reserve fund for future claims which may arise.
Accumulated Absences increased 19.19% or $71,572. Village must provide funding for retirements in 2010.
Police & Fire Retirement pension bill, increased 8.60% or $161,176. Village must meet its financial obligation as mandated by the State.
Unemployment costs increased by $286,288. over 2009. The dramatic increase is the result of implementing staff reductions to comply with the States imposed budget and levy caps, and minimize property tax increases.
Police and Fire contractual Salaries increased on average of 4.3 percent, or $431,160.
The Capital Budget will provide funding for the following :
Rolling stock of Municipal Vehicles
Technology Infrastructure Upgrades
2010 Street Resurfacing & Reconstruction Program.
Stormwater Drainage System Upgrades
Building Improvements, Various Locations
SCADA System Upgrades, Water Pollution Control Facility