Priority One—Fiscal Responsibility

August 24th, 2009

Whether you’re a Republican or a Democrat Fiscal Responsibility should be local government’s prime concern. This year more than other’s it is even more important as the economy lingers in a recession. Town officials should consider a timely budget so residents can make informed decisions this November.The following report depicts the fiscal activities of the Town of Ulster’s current administration. 

Town of Ulster Financials 2007-Present 

Fiscal 2007:

Forecasted Budget: $5,619,902.00

Actual Expenditures: $6,201,233.00/ Over Budget ($581,331.00)

This budget was approved by outgoing Supervisor Wadnola

Supervisor: Nick Woerner

Town Board members: Rocky Secreto, Craig Artist, Joel Brink & Dave Brink 

• Fiscal 2008:
  

Forecasted Budget: $5,973,433.00 

Actual Expenditures: $6,675,732.00/ Over Budget ($702,299.00) 

Supervisor: Nick Woerner

Town Board Members: Rocky Secreto, Joel Brink, Dave Brink & Craig Artist 

• Fiscal 2009:
  

Forecasted Budget:$6,196,660.00 

Actual Expenditures: $7,057,361.00/ Over Budget ($860,701.00) 

Supervisor: Nick Woerner

Town Board Members: Rocky Secreto, Joel Brink, Dave Brink & Eric Kitchen 

• Fiscal 2010: Yet to be submitted.
  

Supervisor: Nick Woerner

Town Board Members: Rocky Secreto, Joel Brink, Dave Brink & Eric Kitchen. 

Although the budget for 2009 has not been presented to date, it is expected to have risen approximately 10% and an anticipated property tax increase of upwards of 20%. The factors yet to be considered are last years budget overrun and the drop in the Towns portion of County Sales Tax revenue and Town Mortgage tax revenue, both considerable amounts. 

A further fact to be considered before election-day is the financial profile of the Town:

January 2006 Fund Balance $1,289,337 

December 2008 Fund Balance $14,825.00/ Expenditures: $1,714,502.00 

The town floated a BOND for $1.4 million, ($225,000 was for legal fees), in May 2009 and is considering another Bond for the completion of the Senior Recreation Center.

This would make raising funds for emergencies more difficult, and strain the Town’s credit rating in an already stressed economy. 

The US economy has been in a downward spiral since mid year 2008. Nationally, economists and leaders of the current administration have determined that this is possibly the worst recession since the late 1970’s-early 80’s. Local economic forecasts are no better. These trends should be considered while deciding on projects and budget overages in such dire economic times.

As residents of the Town of Ulster are being pressed harder and harder to meet their own budgets, Town Officials should be no less responsible. 

Expenses for energy and taxes are on the rise, the potential for inflation becomes more and more inevitable as these factors filter thru the economy. We urge local officials to consider these facts as the budget for 2010 is prepared. 

Budgets are by no means written in stone, however when an administration presents a comprehensive spending plan, the residents should be able to rely that the administration will do it’s best to adhere to it.