fair haven miscalculates their initial budget by padding the insurance line items and this is a story? it should be:
1. 'FAIR HAVEN MISCALCULATES INSURANCE PREMIUMS, AMENDS BUDGET TO PROPERLY REFLECT THE NUMBERS'. OR 2. 'FAIR HAVEN NEVER NEEDED STATE HANDOUT, FINALLY SHOWS REAL NUMBERS IN NEW AMENDED BUDGET'
Halfacre actually makes the states point! Gee....Kudos...Kudos!
maybe i am overtaxed in fair haven so big whoop to a little reduction mike. the staff does the budget anyway and you know it. spare us the taking of credit for the work of the folks in borough hall. jeez.
I noticed that some of your readers may not have been able to get the full story from the APP article, so let me try to explain.
When we did our original budget last fall, we did not know what some of our expenses would be, i.e. how big an increase there would be in insurance premiums, etc. We estimated the budget amount, as is the norm in any budget process.
In the intervening six months, those bills have come in, and we now know exactly what our expenses are in those line items. We therefore amended our budget to reflect the “as-billed” amounts. This saved us some money.
Similarly, the “LOSAP” for our volunteer fire company members (not pension, which went up by well over $100,000.00) amount went down from the prior year, and we had estimated it going up. We amended our budget to reflect the actual number.
The biggest driver of our savings continues to be bringing on our own Borough Engineer. He started in December, and when we did our original budget, we knew there would be significant savings, but we did not know exactly how much there would be. Now, after six months on the job, we know that the savings will be well into six figures for this year. Therefore, we were able to amend that line item.
The net result is a decrease in our tax rate for the first time in years, at a time when most other towns are going up significantly.
I am sorry that some of your readers missed that point.
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8 comments:
Art,
fair haven miscalculates their initial budget by padding the insurance line items and this is a story? it should be:
1. 'FAIR HAVEN MISCALCULATES INSURANCE PREMIUMS, AMENDS BUDGET TO PROPERLY REFLECT THE NUMBERS'. OR
2. 'FAIR HAVEN NEVER NEEDED STATE HANDOUT, FINALLY SHOWS REAL NUMBERS IN NEW AMENDED BUDGET'
Halfacre actually makes the states point! Gee....Kudos...Kudos!
they messed up the pension numbers too. not sure where the kudos come from.
If lowering taxes was as easy you two seem to think, why isn't everyone doing it?
maybe i am overtaxed in fair haven so big whoop to a little reduction mike. the staff does the budget anyway and you know it. spare us the taking of credit for the work of the folks in borough hall. jeez.
as if...
If taxes went up, it would be the mayors fault, taxes go down, he gets no credit?
too much.
taxes went down due to incorrect budgeting for insurance and pension. bravo! bravo! you are great! simply great!
Hey Art,
I noticed that some of your readers may not have been able to get the full story from the APP article, so let me try to explain.
When we did our original budget last fall, we did not know what some of our expenses would be, i.e. how big an increase there would be in insurance premiums, etc. We estimated the budget amount, as is the norm in any budget process.
In the intervening six months, those bills have come in, and we now know exactly what our expenses are in those line items. We therefore amended our budget to reflect the “as-billed” amounts. This saved us some money.
Similarly, the “LOSAP” for our volunteer fire company members (not pension, which went up by well over $100,000.00) amount went down from the prior year, and we had estimated it going up. We amended our budget to reflect the actual number.
The biggest driver of our savings continues to be bringing on our own Borough Engineer. He started in December, and when we did our original budget, we knew there would be significant savings, but we did not know exactly how much there would be. Now, after six months on the job, we know that the savings will be well into six figures for this year. Therefore, we were able to amend that line item.
The net result is a decrease in our tax rate for the first time in years, at a time when most other towns are going up significantly.
I am sorry that some of your readers missed that point.
Thanks for the kudos.
mike halfacre said...
Thanks for the kudos.
Your're welcome Mr. Mayor.
Anyone seen Pringle?
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