EXPLANATORY STATEMENT - (Continued) BUDGET MESSAGE
TOWNSHIP OF JACKSON
1977 APPROPRIATIONS CAP CALCULATION
Total General Appropriations for 201742,398,7892016 CAP Bank 2017 CAP Bank 1,170,652.49 1,040,282.94
Allowable Operating Appropriations -Within CAP 39,077,538
SUBTOTAL-2017 Amended Appropriations for CAP Adjustments42,398,789
Less Exceptions-Operations Excluded from CAPs:2018 Appropriations - Within CAPs 36,838,408
Total Other Operations(231,603)
Total Interlocal Serv Agreement(102,000)
Total Additional Appropriations(13,026)
Total Public & Private-Offset(92,911)
Total Capital Improvement(110,000)
Total Debt Service(3,768,696)
Total Deferred Charges(327)
Judgements0
Reserve for Uncollected Taxes(2,663,929)
(6,982,491)
Amount on Which CAP is Applied35,416,298
CAP Adjustments:Chapter 89, Public Laws of 1990 places limits on Municipal spending authority.
Allowable CAP Rate2.50%Commonly referred as to the CAP LAW, a growth restriction is imposed based upon an annual inflation limit on most appropriations noting limited exclusions exist (E.G.-Debt Service, Grants, Inter-Gov't Contracts, & Uncollectible Tax Reserve).
Allowable Operating Approp. Before additional exceptions36,301,705.62A set State index rate can be increased to a maximum of 3.5% at the discretion of the Governing Body by ordinance of each respective Municipality.
COLA Ordinance1.00%A review of the enclosed calculation reflects last year CAP as a basis for the 2018 budget period. Taking last years total budget and removing the exceptions, a calculation of 2.5% is computed for the annual inflation adjustment. Consideration is given to Municipalities experiencing significant growth by permitting an adjustment for new construction placed on the tax rolls as shown to the left. An allowance is also permitted for unconsumed CAP adjustments by allowing a 2-year banking of CAP credits for good management.
Allowable Operating Appropriations with C.O.L.A. ordinance36,655,869
Add-On Ratables for New Construction - Assessed Valuation X Tax Rate
44,552,600.000.4730210,734
NOTE:
Sheet 3b
MANDATORY MINIMUM BUDGET MESSAGE MUST INCLUDE THE FOLLOWING:
1. HOW THE 1977 "CAP" WAS CALCULATED. (Explain in words what the "CAPS" mean and show the figures.)
2. 2010 CAP" LEVY CAP WORKBOOK SUMMARY
3. A SUMMARY BY FUNCTION OF THE APPROPRIATIONS THAT ARE SPREAD AMONG MORE THAN ONE OFFICIAL LINE ITEM
(e.g. if Police S&W appears in the regular section and also under "Operations Excluded from "CAPS" section, combine the figures for purposes of citizen understanding.)
4. INFORMATION OR A SCHEDULE SHOWING THE AMOUNTS CONTRIBUTED FROM EMPLOYEES, THE EMPLOYER SHARE AND THE TOTAL COST HEALTH CARE COVERAGE (Refer to LFN 2012-4).