Page 6 - FY21 BUDGET booklet for residents PRELIMINARY V 073120 FINAL

Summary
2019 2020 2021
PAYROLL TAX & BENEFITS: YEAR -END APPROVED PROPOSED This category is directly
ACTUAL BUDGET BUDGET related to payroll costs and
RECRUITMENT EXPENSES $ 4,662 $ 7,000 $ 6,000 includes expenses for taxes,
FICA $ 232,011 $ 259,530 $ 260,938 medical/health benefits,
FUTA $ 3,428 $ 3,150 $ 3,150 employee awards, education
SUTA $ 1,665 $ 3,780 $ 5,520 and Workers Compensation
WORKERS COMPENSATION $ 74,415 $ 82,485 $ 114,500 insurance. Medical
HEALTH INSURANCE $ 487,382 $ 568,122 $ 585,327 Insurance costs have
RETIREMENT $ 114,156 $ 124,516 $ 132,966 increased, which means the
EDUCATION/TRAINING $ 10,187 $ 15,000 $ 15,000 employee contributions,
EMPLOYEE AWARDS $ 54,468 $ 67,732 $ 62,000 while at the same level will
TOTAL PAYROLL TAX/BENEFITS $ 982,374 $ 1,131,315 $ 1,185,401 also increase.

Summary
2019 2020 2021
TAX EXPENSE: YEAR -END APPROVED PROPOSED This category includes
ACTUAL BUDGET BUDGET funding for Federal and
REAL ESTATE TAXES $ 2,725 $ 3,000 $ 3,000 State income taxes on
PERSONAL PROPTAX $ 2,052 $ 5,000 $ 5,000 projected interest income
TOTAL TAX $ 4,777 $ 8,000 $ 8,000 as well as personal
property taxes. There are
no anticipated income
taxes due to the interest
expense paid on the loan.

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