Mar 10, 2014 - partnership to develop meaningful reductions over the next few years. Yours truly,. Steven M. Fulop .....
Jersey City Municipal Budget Book calendar year 2014
March 10, 2014 Council President Rolando Lavarro, Jr. & Members of the Municipal Council City Hall – 280 Grove Street Jersey City, New Jersey 07302
Re. Calendar Year 2014 Budget Dear Council President Lavarro & Council Members: I am pleased to submit the administration’s first budget, the 2014 Calendar Year Budget, which reduces property taxes by 2.1 percent and provides you with the flexibility to reduce taxes even further – up to 5.6 percent. We worked hard to produce this first budget and create a pathway toward fiscal stability. As you will see, the 2014 budget includes $118 million of new and permanent ratables, and we are committed to growing the tax base even further through progressive development policies. The budget also reflects cost savings from the restructuring of city government, including the creation of a Department of Public Safety from the merger of the Police and Fire Departments. In 2014, to achieve further cost savings and generate additional efficiencies, the administration will move forward with plans for the consolidation of autonomous agencies – beginning with the Parking Authority. Also reflected in the budget is the largest total investment in recreation within the last five years and the largest percent increase in funding since 1999. We have created a variety of new programs and summer jobs for youth. What’s more, the administration is making the largest investment in parks in decades, with $6 million in grant and capital funds allocated toward the renovation of 13 parks across the city. Illustrating fiscal responsibility, the 2014 budget also includes a $2 million allocation towards retirement payouts – the first time such funds have been budgeted since 2010. As we work with the Council toward a long-range fiscal plan, we will include responsible projections for anticipated future liabilities minimizing last minute budget gaps. I look forward to working with you on a partnership to develop meaningful reductions over the next few years. Yours truly,
Steven M. Fulop Mayor
WWW.JERSEYCITYNJ.GOV
CITY OF JERSEY CITY OFFICE OF THE MAYOR CITY HALL | 280 GROVE STREET | JERSEY CITY, NJ 07302 P: 201 547 5500 | F: 201 547 5442 STEVEN M. FULOP
STEVEN M. FULOP
MAYOR OF JERSEY CIT Y
MAYOR OF JERSEY CIT Y
BACKGROUND OF JERSEY CITY Founded in 1630 and incorporated in 1820, Jersey City once served as a shipping, manufacturing, and rail transportation hub. Home to Ellis Island, Jersey City has served as the gateway to the United States for millions of immigrants. Today Jersey City is a vibrant and thriving city, where rail yards, factories, and warehouses have been transformed into parks, restaurants, shops, and modern skyscrapers. Seven of the ten tallest buildings in the state are found in Jersey City, with the tallest residential building in the State scheduled to begin construction in early 2014. Jersey City residents and visitors enjoy spectacular views of the New York City skyline with miles of Hudson River waterfront. Jersey City’s robust transportation infrastructure allows for easy access to New York City using the PATH train subway system, NY Waterway Ferries, or the Holland Tunnel. An expansive above-ground light rail system that opened in the year 2000 connects Jersey City to neighboring municipalities. The thriving business community of Jersey City is driven by the healthcare, insurance, finance, real estate, and public sector industries, with many workers commuting from New York City or other municipalities within northern and central New Jersey. Education is also an important aspect of life in Jersey City, with New Jersey City University (NJCU), Saint Peter’s University, and Hudson County Community College each calling Jersey City home. Tourism is a growing industry for Jersey City with two hotels under construction and three more planned to begin construction in the next few years. While Liberty State Park, Liberty National Golf Course, and the Statue of Liberty attract millions of visitors each year, this year was especially noteworthy as Jersey City proudly hosted the Seattle Seahawks and Denver Broncos, their families, and many of their fans for the week leading up to the Super Bowl. The City of Jersey City has a population of over 250,000 residents in only 15 square miles. With a healthy population growth rate and an exponential increase in residential construction (5,600 residential units are currently under construction, the highest level in recent history), Jersey City will surpass Newark to become the largest city in New Jersey by the end of 2016. Business Insider recently ranked Jersey City as the second most ethnically diverse city in the United States, and The Atlantic ranked Jersey City as one of the top 10 most artistic cities in the United States. Jersey City Mayor Steven Fulop has declared one of his top priorities to be making Jersey City the best mid-sized city in America.
WWW.JERSEYCITYNJ.GOV
Jersey City Municipal Council
Joyce Watterman Councilwoman at Large
Frank Gajewski Khemraj “Chico” Ramchal Ward A Ward B
Rolando R. Lavarro, Jr. Council President
Rich Boggiano Ward C
Daniel Rivera Councilman at Large
Michael Yun Ward D
Candice Osborne Ward E
Diane Coleman Ward F
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Candice Osborne
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Michael Yun
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Richard Boggiano
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Khemraj "Chico" Ramchal
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Frank Gajewski
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Daniel Rivera
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Rolando R. Lavarro Jr.
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JERSEY CITY MUNICIPAL COUNCIL
Le
CITY OF BAY ONN E rb
or
Dr
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Ind
us
tria
lD
riv
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Ha
Po rt
Je
rs e
yB
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Upper New York Bay
I STEVEN M. FULOP, Mayor Anthony Cruz, Director
Department of Housing Economic Development and Commerce
0
Robert D. Cotter, PP, FAICP, Director Division of City Planning
0
400 800 1
/4
1 inch = 800 feet 1,600
2,400
1
/2
3,200 3
/4
4,000
Feet 1 Miles
Over the last 20 years Jersey City municipal budgets have grown at an average rate of 3.1% per year 1993-2013 Jersey City Municipal Budget Overview1 Adopted
Introduced
$500,912,891
$515,923,451
$485,576,400
$490,497,380
$255,726,128
$509,869,483
$474,024,973
$463,957,000
$432,599,895
$425,789,508
$391,272,623
$377,231,784
$344,811,717
$352,494,767
$333,694,666
$332,850,395
$311,288,095
$292,898,572
$284,874,960
$283,104,898
$286,843,970
$274,084,414
$280,263,514
+3.1%2
1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2010 2011 2012 2013 2014 TY3
1: Final adopted budget for each year, not including amendments after adoption; 2: Combined annual growth rate (CAGR); does not include 2010 TY; 3: Switch in 2010 from fiscal year budget to calendar year budget resulted in a “transition year” budget from July 1 2010 to December 31 2010
3
Since 1993 the budget has grown slightly faster than the overall U.S. cost of living but much slower than taxes 1993-2013 Index of Jersey City Municipal Budgets, Jersey City Municipal Taxes, and U.S. Cost of Living (CPI-U)1 Municipal Taxes
Municipal Budget
Adopted
Introduced2
CPI-U1 +160%
Municipal tax revenue growing at a faster rate than municipal budgets is due to both increases in total ratables and increases in tax rates
+84%
+61%
1993
2013 2014
1: Urban Consumer Price Index (CPI-U) is a primary cost of living indicator calculated using prices paid for a sample of goods and services for United States urban consumers that includes items such as rent, food, clothing, healthcare, transportation, and housing (accounts for inflation); growth rates indexed to 1993 values
4
The 2014 introduced budget anticipates $217 million in municipal taxes, which is only 43% of total budget revenues Introduced CY 2014 Budget Anticipated Revenues Revenue Type
2014 Amount
PILOTs
$112,642,195
State Aid
$69,336,338
Local Revenues1
$37,319,827
Miscellaneous
$28,331,300
Surplus
$16,416,250
2014 % Total Revenues
22% 14% 7% 6%
3%
Construction Code $5,675,000
1%
Grants
$1,794,466
