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6 results for “municipal debt” · other

  • FISCAL PROFILE OFFICE OF THE NEW YORK STATE COMPTROLLER

    Syracuse, NY
    Other

    This 2013 fiscal profile of Syracuse by the New York State Comptroller's Office documents significant fiscal challenges facing the city, including nearly 50% tax-exempt property (compared to 32% statewide), 8% tax-delinquent properties, and 25.6% of families living in poverty—more than double the state average. As the fifth-largest city in New York with a population of 145,170, Syracuse has a debt of $292 million representing 52.9% of its constitutional debt limit (far exceeding the median city's 23%), and faces chronic budget gaps driven by declining population, deteriorating industrial sector, and growing fixed costs for both the city and its dependent school district. The city has established a Land Bank with Onondaga County to address abandoned properties and has exhausted 68.6% of its constitutional tax limit.

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    municipal budgettax revenuefiscal challengeproperty taxpublic debt
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  • Budget & Management | City of Cleveland Ohio

    Cleveland, OH
    Other

    The Division of Budget and Management in Cleveland's Department of Finance prepares, implements, and monitors annual operating budgets and financial plans to fund City services. The General Fund Operating Budget, funded primarily by a 2.5% City Income Tax on all workers in Cleveland, supports Safety Forces (Police, Fire, and EMS), Waste and Recycling Pick Up, City Parks, and Neighborhood Resource and Recreation Centers. Enterprise Funds operate as self-supporting services including Water, Water Pollution Control, Cleveland Public Power, the Airport, Cemeteries, Golf Courses, City Parking Facilities, Public Auditorium, and West Side Market. The City also funds capital improvements and infrastructure through debt, restricted funds, and grants, including Community Development Block Grants (CDBG) from the U.S. Department of Housing and Urban Development that must support projects eliminating blight and assisting low- and moderate-income residents in housing, public improvements, and land use areas. Budget documents are available for fiscal years 2023 through 2026, along with an interactive budget portal and comprehensive financial reports.

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    municipal budgetpublic safetywater infrastructurecommunity developmentcity services
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  • City of Worcester Financial Overview Timothy J. McGourthy

    Worcester, MA
    Other

    This financial overview document presents Worcester's fiscal structure and priorities as delivered by Chief Financial Officer Timothy J. McGourthy. The city operates under significant state-mandated constraints, with approximately $920 million in FY25 budget revenue derived from limited sources (state aid, property taxes, local fees), while discretionary municipal operations comprise only 22% of total spending due to mandatory obligations in education, debt service, and pension costs. Worcester maintains a Financial Integrity Plan established since 2006 that includes a general fund reserve of 10.7% for FY25, an irrevocable OPEB trust, and a net free cash policy directing funds toward bond rating stabilization, OPEB obligations, and operations, with an average residential tax bill of $5,266 funding services ranging from K-12 education and public safety to libraries and public health services.

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  • CITY OF JERSEY CITY

    Jersey City, NJ
    Other

    Mayor Steven M. Fulop introduced Jersey City's FY 2026 budget on April 18, 2025, proposing zero municipal tax rate increase for residents while maintaining full city services—marking the ninth of eleven budgets under his administration with tax increases of 2% or less. The budget includes $66 million in debt service paydown, $6 million for union contract settlements, new police and firefighter hires, full pension fund funding with cost-of-living adjustments, and investments in affordable housing and infrastructure, while managing challenges including rising insurance premiums and reduced federal and state grant funding. The municipal portion of average property tax bills has decreased to 35% from 48% over two years, with $1.6 billion in new ratables added to the tax rolls through economic development efforts.

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    budgettax increasepolice hiringinfrastructureaffordable housing
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  • Appendix R Structure of Municipal Funds

    Anchorage, AK
    Other

    Appendix R outlines the Municipality of Anchorage's fund accounting structure, which uses Governmental, Proprietary, and Fiduciary Fund types to track resources and ensure compliance with finance-related legal requirements. Governmental funds are grouped into general, special revenue, capital projects, debt service, and permanent funds, with the Anchorage Assembly approving operating budgets at the department level and revenues/expenditures appropriated at the fund level. The document explains that governmental funds use modified accrual accounting, recognizing revenues when measurable and available, and recording expenditures when liabilities are incurred, with exceptions for debt service and compensated absences paid only when due.

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    municipal budgetfund accountinggovernment finance
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  • Bethlehem-pa

    Bethlehem, PA
    Other

    Article 151 of the City of Bethlehem's ordinances establishes and governs the Firemen's Pension Fund, created under authority of the Third Class City Code. The fund charges paid Fire Department members 7% of their pay, plus an additional 1% to cover benefits for surviving spouses and children under age 18 of retired, killed, or deceased members. The City must annually appropriate to the fund no less than one-half of one percent of all City taxes levied (excluding debt service taxes), beginning in 1949 and continuing thereafter. The fund is invested and merged with joint funds under Article 156 of the City's ordinances, with annual appropriations made in accordance with Pennsylvania's Act 205 of 1984 (Municipal Pension Plan Funding Standard and Recovery Act). Membership in the fund is voluntary for all paid firemen employed in the Bureau of Fire.

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