Carfora Talks Taxes, Budget, Fiscal Responsibility & Dinner

Submitted by the Joe Carfora for Mayor campaign.

One way to improve the quality of life for the residents of East Haven is having a fiscally responsible Town Budget. BUDGET The Budget is a LEGAL Document and all 169 Municipalities in the state have to produce a budget annually. The Budget is an estimate of Revenues the town will collect and expenditures the town will payout. Let’s take a closer look at East Haven’s 2018- 2019 Budget. The town is using a Tax collection rate of 98%. I believe this rate is to aggressive a more conservative rate would be 97% remember if the town doesn’t achieve this collection ratebudgeted revenues are overstated. On the expenditure side over budget increases the mill rate the budget should be a lot closer to actual expenditures. I will demand a much tighter budget if I’m elected. Also in controlling expenditures I will make a TOP priority to distinguish between WANTS and NEEDS of the town. The adopted 2018-2019 Budget was $91,613,487 the administration prior to this current administration adopted budget was $85,670,735 a $5,942, 752 increase (6.93% increase) is this keeping TAXES LOW? As Mayor, I am a proponent of conservative fiscal policies which mean using appropriate estimates of non-tax revenues, accurate expenditure estimates and a reasonable MILL RATE for the taxpayers and residents of East Haven. DEBT SERVICE In 2010-2011 the budget was $7,409,859 in 2018-2019 the budget was $3,141,901 how did the budget go down so much ($4,267,958). Scheduled of regular payments and most notable the New High School debt service ended in 2017 (approximately $2,000,000 off the books) like paying off your mortgage. Nothing special was done. FUND BALANCE (THE TOWN’S RAINY DAY SAVINGS) In 2012 the balance stood at $437,843, the town instituted an ordinance to make yearly contributions a line item in the expenditure budget (approximately $600,000) to restore Fund Balance to an acceptable levels as of 2018 the balance is $5,816,569. How was this increase achieved? If you look at the chart revenues (except for year 2013) actuals are less than budgeted that’s bad. Expenditures are over-budgeted also budgeted amounts are higher than actual expenditures. THIS NET (ABOVE THE LINE- BELOW THE LINE =$5,180,566 EXCEPT FOR 2013) INCREASES FUND BALANCE THIS IS HOW THE ADMINISTRATION INCREASES FUND BALANCE –OVER BUDGETING AND INCREASING YOUR TAXES. BELOW IS A CHART SHOWING THE FUND BALANCE COMPONENTS.

IF ELECTED I WILL PRODUCE A RESPONSIBLE BUDGET
FOR EAST HAVEN TAXPAYERS



SEASONS (FORMERLY COUNTRY HOUSE)
990 Foxon Road, East Haven, CT
Thursday, October 17th, 6:00-9:00PM
$125 Dinner, Open Bar, and Dessert provided