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Youngstown finance director: Surplus could be near $1M



Published: Sat, December 31, 2011 @ 12:06 a.m.

Tax collections drive carry-over from 2011

By Ashley Luthern

aluthern@vindy.com

YOUNGSTOWN

The city’s finance director told council Friday that the city could see a surplus as high as $1 million at the end of 2011.

“We had a small uptick in tax collections. ... I think we’re in pretty good shape. 2010 was a tough year, and we’re seeing a slight improvement that should carry into 2012,” said Director David Bozanich.

Council approved a measure Friday to reconcile the 2011 budget.

The surplus in the city’s general fund will be between $500,000 and $1 mil- lion, and as expected, Youngstown received about $41,850,000 in income tax in 2011, an increase from 2010 when the total was $41,125,000, Bozanich said.

The income tax makes up about 65 percent of the city’s revenue.

Councilwoman Annie Gillam, D-1st, asked Bozanich if the city should create a “rainy-day fund.”

Bozanich advised against it, saying that when the city did have a rainy-day fund, arbiters often used that as proof that the city had enough cash on hand for employee raises in contracts negotiated by the city and employee unions.

“It makes economic sense, but I recommend we keep it on the capital-improvement side,” he said. “... We should be able to fund [capital improvements] at a similar level as this year.”

Mayor Charles Sammarone, who already has said he wants to increase demolitions of vacant houses, told each council member to highlight a specific project in his or her ward during budget hearings early next year.

“We’re going to find a way to fund it,” Sammarone said.

Bozanich said his department is projecting a 1 percent to 1.5 percent increase in revenue in 2012.

Even with the general-fund surplus this year and projected increases for next year, Bozanich remained cautious.

One unknown is the possible closing of the Youngstown mail-processing and distribution center. Bozanich said the loss of jobs could equate to a $300,000 to $500,000 decrease in income tax for the city.

“We know it might rain, so we’re buying umbrellas,” Bozanich said.

Budget hearings with city council are expected to begin in January, and council must adopt an annual budget by March 31.


Comments

1NoBS(2004 comments)posted 2 years, 11 months ago

Here's a thought, Youngstown: PAVE YOUR STREETS!!!

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22muchtax(410 comments)posted 2 years, 11 months ago

Here is another thought, you geniuses didn't make retired police chief rich enough why don't you give him some more money. At least get him hooked on phoenix so when he double dips as sheriff we will be able to understand him!

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3BenitaDrugs(42 comments)posted 2 years, 11 months ago

@2much tax, do you mean hooked on phonics? lol

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4southsidedave(4840 comments)posted 2 years, 11 months ago

Too much excess funds...most likely will be plundered on something that does not benefit the City.

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5One_Who_Stayed(237 comments)posted 2 years, 11 months ago

I say we "actually" get him hooked on Phoenix (AZ) so we don't have to deal with his idiot-ass running for Sheriff here!

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6republicanRick(1248 comments)posted 2 years, 11 months ago

Great news on surplus. Put that money into housing demolition to help stabilize neighborhoods.

That money could be used to tear down 200 - 300 homes.

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7WHATSSHAKIN(42 comments)posted 2 years, 11 months ago

Man of color retires well and is condemned for it. If it is legal for him to run for sheriff let him run. Let the voters decide on his suitability for the job.

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8Superman(31 comments)posted 2 years, 11 months ago

Does that mean they can actually start to pay the principle on the Covelli center loan?

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9One_Who_Stayed(237 comments)posted 2 years, 11 months ago

@WHATSSHAKIN

I don't condemn anyone for retiring. I condemn people who "play" the system (no matter what his color). Fact is that Jimmy Hughes did a horrible job being the police chief of the city of Youngstown.

I dealt with him several times regarding numerous problems and he didn't do anything other than make excuses about how little manpower he had and wore out that tired-ass civil servant phrase "we're trying to do more with less". Having said that, he was always civil to me and didn't seem to be a bad guy or anything - he just sucked at his job.

He was the police chief for 6 years and got a 1/2 million dollar retirement buy-out. Are you freakin' kidding me? I worked at a business in Boardman for 10 years and at the end of it I got a "Thanks-a-lot" (and several people I worked with took me out to a bar). There is a difference between a "legal" thing to do and a "right" thing to do. He, in no way shape or form "earned" 1/2 a million dollar buy-out for the crappy job he did - period.

I'm pretty certain that when he runs for sheriff, the voters will speak and he's not gonna be very happy about the results (but I certainly will).

I don't begrudge the guy on a personal level, I just don't want him in charge of the security of me and my family, and I think he should have passed on at least a healthy portion of that 1/2 million, legal or not.

And I'm reallllly pissed at the knuckleheads that are in charge of setting up that buy-out system (but as usual - they are hiding behind a faceless bureaucrat's desk).

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