Slide 2:
FINANCIAL & BUDGET UPDATE 2008-09 Revenue Budgets at Risk
Sales tax & interest income projected shortfall - $180,000
2008-09 Expenditure Budgets Favorable
Froze $200,000 in General Fund Equipment & Supplies
Savings available to offset revenue shortfalls, tax certiorari claims, or provide 2009-10 Budget flexibility
2009-10 State Aid Cut
$178,066 (10.42%) in Governor’s proposed budget
Slide 3:
Initial Insurance Recoveries $1,500,000
July 10, 2007 Referendum $12,200,000
May 20, 2008 Referendum $1,779,199
May 20, 2008 Referendum $6,607,862
$22,087,061 PROJECT FINANCIAL OVERVIEW BUDGET
Slide 4:
PROJECT FINANCIAL OVERVIEW Clean-up & Restoration $2,886,789
Asbestos Abatement $343,000
C & D Wing $5,328,200
A & B Wing $4,018,950
A, B, C, D Total Contingency $1,583,551
Soft Costs $1,318,709
Boiler / Switchgear Reloc. $6,607,862
$22,087,061 BUDGETS as of Sept. 1, 2008
Slide 5:
PROJECT FINANCIAL OVERVIEW FEMA $9,473,330
NYSEMO $3,157,776
Insurance Recoveries $6,811,803
Bronxville Taxpayers (12%) $2,644,152
$22,087,061 PROJECTED REIMBURSEMENTS
Slide 6:
A, B, C, D CONTINGENCY USAGE