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Proposed FY23 Budget
Proposed General Fund Operating Budget: $302.9M
e Increase over FY22 Budget: 4.0%
Revenues
e Continue to be budgeted conservatively
e Stable revenue from motor vehicle registrations
¢ Continued low interest rate environment
(29 FY23 BUDGET PRESENTATION JUNE 21, 2022
Increases in
Assessed
Valuations
40% 39%
30%
22%
These figures are estimates. No
.. Wl " 20%
property is “average.
10%
0%
Residential C&l
eS FY23 BUDGET PRESENTATION JUNE 21, 2022
= Tax Year 2021
65.2% 67.5%
0%
Residential
@ FY23 BUDGET PRESENTATION
= Tax Year 2022
Potential
Changes in
Assessed
Valuations
Tax Year 2021 vs. Tax Year 2022
JUNE 21, 2022
2022 Revaluation
Potential Impacts (Estimated)
>
Overall values of Within the Residential values This results in a shift
properties are residential class, are increasing at a of the property tax
increasing. property values are higher % rate than burden from
increasing at commercial. commercial to
different % rates. residential.
©) FY23 BUDGET PRESENTATION JUNE 21, 2022
on ———E—EeEeeeeeeeeree
FY23 Budget Challenges
Annual Inflation from May 2022: 8.6% City-specific inflation rates:
Fuel Oil 107% Diesel Fuel >28%
Gasoline 49% Gasoline >22%
Natural Gas 30% Heating Oil >20%
Food 10% Winter Salt 45%
Shelter 6% Health Insurance 12%
Electricity 12% Liability Insurance [1%
Construction Materials
e Lumber 300%
e¢ Steel 200%
Source: U.S. Bureau of Labor Statistics
FY23 BUDGET PRESENTATION JUNE 21, 2022
en
WalletHub Best-Run Cities 2022
Nashua Ranked #4 Overall
Evaluated operating efficiency of 150 of the largest U.S Highlights:
cities using 38 metrics in 6 categories
Compares quality of services against city's total budget "i Safety
#2 Quality of Roads
"Quality of Service" Metric Categories: #4 Violent Crime Rate
e Financial Stability #9 Quality of City Services
¢ Education #9 Total Budget per Capita
e Health #15 Infrastructure & Pollution
e Safety #45 Education
FY 2023 PROPOSED BUDGET
PRESENTATION
JUNE 21, 2022
CITY OF NASHUA, bea, JIM DONCHESS,
NEW HAMPSHIRE } MAYOR
2247 CULINARY ARTS 271 271
2252 DAY CARE 272 272
2257 SPECIAL EDUCATION-LOCAL TUITION 273 273
2258 SCHOOL CTE TUITION FUND 274 274
3899 SCHOOL GRANTS 275
PUBLIC COMMENT
MOTION BY ALDERMAN O’BRIEN TO TABLE R-22-035
MOTION CARRIED
ADJOURNMENT
MOTION BY ALDERMAN O’BRIEN TO ADJOURN
MOTION CARRIED
The meeting was declared closed at 10:38 p.m.
Alderman Michael B. O’Brien, Sr.
FINANCIAL SERVICES DIVISION
