130820 Syracuse Financial Overview

7/27/2019 130820 Syracuse Financial Overview

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HistoryofCityofSyracuseGeneralFundBalance


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RevenueAssumpons

NorevenuegrowthforpropertytaxesandNYSStateaid.PropertytaxlevyexpectedtostaythesameSalestaxgrowthfactorprojectedat2%inFY15andFY16NoprojectedincreaseinWaterandSewerratesImplementaJonoftheLandBankexpectedtospurdelinquentpropertyownerstoremittaxesorriskforeclosureofproperty.RevenueincreaseinPriorYearTaxandFeesandPenalJesaccounts

AirportoperaJonswilltransfertotheSyracuseRegionalAirportAuthority(SRAA)betweenFY13andFY14.GeneralFundwillsJllreceivecostreimbursementsforservicesperformedandtheamountofDebtServicetobepaidonexisJngbonds.

ExpenditureAssumponsWagesprojectedtoincreaseby2%fordepartmentswithmajorunionrepresentaJon-Police,Fire,DPWandParks;allothers1%MajorDepartmentfuncJonalexpendituresprojectedtoincreaseby2%annuallyHealthinsurancecostswereincreasedby8%basedonclaims,inflaJonandfinancialramificaJonsoftheAffordableHealthCareActinFY14

Debtservicecostsarebasedtheapproved2013-2014CapitalImprovementPlanPensionliabiliJeswillbepaidinfull.ProjecJonsdonotincludeanypensionamorJzaJon.$2millionesJmatedPolicecontractallocaJonfor2014-2015.Accountsforwagesandbenefitsforopencontractyears.Placeholderexpenditure

WageswerefrozenwiththeexcepJonofstepsandlongevityin2013-2014SewerandWaterSpecialFundsareselfsustaining.NosubsidyfromtheGeneralFund.BothfundsreimbursetheGeneralFundforadministraJveservices.


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CityofSyracuseStateAid(in$millions)

81.3

74.3 73.2

68

70

72

74

76

78

80

82

2008-09 2009-10 2010-11

-9.9%


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CityofSyracuseStateAid(in$millions)

73.2 71.7 71.7 71.7

20.9

0

10

20

30

40

5060

70

80

90

100

2010-11 2011-12 2012-13 2013-14

AIMAid SpinUp


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SalesTaxRevenues:

New10-YearFormula(in$millions)

59.8 60.4 61.9 60.1 64 61.474.2 75.6

0

10

20

30

40

50

60

70

80

2005-06 2006-08 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13

+20.8%with

newformula

Newformulanego.atedin2010


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CityofSyracuse

2013/14CityBudgetedExpenses

Wages

$98.2M

HealthCare

$41.9M

Pensions

$29.4M

SocialSecurity

$7.3M

OtherOperaJng

Expenses

$64.3M

CityGeneralFund

$241,363,196

PersonnelCosts73.3%1. Wages40.7%2. HealthCare17.4%3. Pensions12.2%4. SocialSecurity3.0%

BudgetedFigures


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CityofSyracuse

2013/14CityExpenses

OtherOperaJng

Expenses

$64.3M

Social

Security

$7.3M

Pensions

$29.4M

HealthCare

$41.9M

PoliceWages

$37.5M

FireWages

$25.7M

Other

Wages

$34.8M

CityGeneralFund

$241,363,196

PersonnelCosts-73.3%

1.AllWages-40.7%

a)PoliceWages-15.6%

b)FireWages-10.7%

c)OtherWages-14.5%

2.HealthCare-17.4%3.Pensions-12.2%

4.SocialSecurity-3.0%

BudgetedFigures


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CityofSyracuse

TaxLevy

*

*Projectedfigure

**Budgetedfigure

**


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CityofSyracuse

GrowthinWagesandOverme

0

10

20

30

40

50

60

70

FYE2001-02 FYE2011-12

OtherWages

Police&Fire

WagesSubjectto

InterestArbitraJon$24M

$48.6M

$31.7M

$64.5M

+32.2%

+32.8%


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CityofSyracuseGrowthinOverme

$0

$2,000,000

$4,000,000

$6,000,000

$8,000,000

$10,000,000

$12,000,000

$14,000,000

$16,000,000

FYE2001-02 FYE2011-12

OtherWages

Fire

Police

5.6M

$1.6M

$2.1M

$8.5M

$4.4M

-23%

+34%

+64%


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CITYOFSYRACUSE

10YEARCOMPENSATIONHISTORY


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CityofSyracuse

PensionInvoicesbyRerementUnit

$0

$2,000,000

$4,000,000

$6,000,000

$8,000,000

$10,000,000

$12,000,000

$14,000,000

$16,000,000

$18,000,000

FYE2001-02 FYE2006-07 FYE2011-12

Regular

Employees

ReJrement

Police&Fire

ReJrement

$497K

$1.4M

4.4M

11.8M

$7.4M

$16.9M

PensionInvoicesincreasedover1,000%

inbothPolice&Fire

Rerementand

RegularEmployees

Rerement


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CityofSyracuse

PreviousThreeYearsPensionInvoices

$0

$5,000,000

$10,000,000

$15,000,000

$20,000,000

$25,000,000

$30,000,000

$35,000,000

FYE2011-12 FYE2012-13 FYE2013-14

REGULAREMPLOYEE

RETIREMENT

POLICE&FIRE

RETIREMENT

$16.9M$21.2M

$22.9M

$7.3M

$8.3M

$9.5M


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CityofSyracuse

PensionInvoiceHistory


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CityofSyracuse

HealthInsuranceExpenses

$0

$5,000,000

$10,000,000

$15,000,000

$20,000,000

$25,000,000

$30,000,000

$35,000,000

$40,000,000

$45,000,000

ReJrees

AcJveEmployees

*ProjectedFigure

**BudgetedFigure


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CityofSyracuseGrowthinHealthCare

Costs*

*PoliceandFiremakeup72%ofHealthCarecosts.

$0

$5,000,000

$10,000,000

$15,000,000

$20,000,000

$25,000,000

$30,000,000

$35,000,000

$40,000,000

$45,000,000

FYE2001-02 FYE2011-12

$16.4M

$37.5M


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CostofIndividualandFamily

Healthcare

CosttoCity Contribuon

%Paidby

Employee

PoliceIndividual

Coverage

$6,411.60 $30/mo=$360/yr 6%

PoliceFamily

Coverage

$17,247.60 $60/mo=$720/yr 4%

FireIndividual

Coverage

$6,411.60 $45/mo=$540/yr 8%

FireFamily

Coverage

$17,247.60 $75/mo=$900/yr 5%


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CITYOFSYRACUSE

10YEARHEALTHINSURANCEHISTORY


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CityofSyracuseCostCungMeasuresItem SavingsNegoJatedhealthcaresavingswithnot-for-profithospitalsthroughPOMCO,our

healthcareprovider $995k(est)NegoJatedservicesagreementwithCrouseHospital $50k/yrrevenueReducedPoliceandDPWoverJmecosts $1.9MReducedworkforceby10%fromDecember2009toApril2011 $7.0MConsolidatedCityandCountymailservices $28k/yrPrivaJzingairportsecurityservices $2.5M/yrTierVIsavings-Cityhasonlyhired24employees(replacements)sinceApril1st $38kCombinedPurchasingDepartmentswithCounty $220KNegoJatedZeroincreaseswithsixlaborcontracts $1.6M/eachpossible%increaseRelocaJngSeniorCenter $175kEliminaJonofCityDepartment(SyraStat) $150kClosingofCityparkinggarageduetostructuralrepairissues $15MDelayedinfrastructurerepairs(publicworks,water,buildingsandfirehouses) $30M(est)NegoJatedservicesagreementwithSyracuseUniversity $500k/yrrevenueIncreasehealthcarecontribuJonsformanagement/confidenJalemployees(153

acJveemployees)from3%to10% $100krevenue

Documents

130820 Syracuse Financial Overview