Salaries, benefits and employee insurance costs account for 84% of City expenditures
SARATOGA SPRINGS — Finance Commissioner Minita Sanghvi offered a $54.2 million 2023 spending plan for Saratoga Springs during the city’s initial comprehensive budget presentation Oct. 6.
Although similar to the 2022 budget of $54.1 million, next year’s proposal represents 7% additional revenue, as the 2022 budget contains $3.9 million in ARPA funds received from the federal government, Sanghvi explained. .
The main sources of revenue were property tax, sales tax, mortgage tax, state aid and VLT aid, which accounted for 75% of the city’s revenue.
Salaries, benefits and employee insurance costs account for 84% of city spending, with rising costs of health care, pension benefits and insurance being the main sources of pressure on city spending. ‘next year.
The budget includes the addition of 16 new firefighters for the 3rd fire station/EMS being developed on Henning Rd. Although these new additions are paid for by a federal SAFER grant, the grant only pays for staff costs and benefits and would not cover day-to-day operations, uniforms, medicals, equipment, and other miscellaneous costs. of the fire station. , Sanghvi said.
To balance these costs, Sanghvi proposed to increase the property tax from $6.43 to $6.67 for the inner district and from $6.37 to $6.61 for the outer district; an average increase of 3.72 percent.
“That means if your house is assessed at $200,000, you will pay $4 more per month on your property tax. If your house is assessed at $300,000, you will pay $6 more per month on your property tax. If your house is valued at $400,000, you will pay an extra $8 per month on your property tax,” Sanghvi said.
A series of workshops – one for each city department – are planned for this month at City Hall. Upcoming workshops include: Public Works and Recreation (11 a.m., Oct. 17); Public Safety (3 p.m., October 24); Capital Budget (4 p.m., Oct. 26) and Amended Budget Summary (3 p.m., Oct. 28).
The public will have the opportunity to comment on the budget during a public hearing on the overall 2023 budget at 6:45 p.m. on Tuesday, October 18.