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WILKES-BARRE — The city reported a balance of approximately $6 million through three quarters of the year, according to the most recent financial report.
The report, provided to Mayor Tony George, City Administrator Rick Gazenski, City Controller Darren Snyder and city council, showed the status of the city finances through the first nine months of the year.
As of Sept. 30, revenues reached $39.9 million or 79 percent of the $50.4 million in the balanced 2019 general fund budget. Expenses totaled $33.9 million or 67% of the budget.
Approximately 97% or $11.1 million of the $11.4 million in property taxes budgeted were collected. The other major revenue source, the earned income tax, stood at $10.6 million for the period or 77% of the $13.8 million budgeted.
The $3 million Tax Anticipation Note taken out annually so the city can operate until it receives tax revenues was factored in as a revenue and expense. It’s paid back at the end of the year.
Some revenues exceeded their budgeted amounts. Delinquent recycling fee collections $6,481 or 1,296% of the $500 budgeted. Likewise, the sale of city-owned property raised more than $1.5 million or 141% of the $1.1 million budgeted. The sale of the Park & Lock East parkade for $1.55 million to the Wilkes-Barre Parking Authority made up most of the revenue.
Revenue from the parking meters was $491,598 or 65% of the $750,000 budgeted. Non-business license and permits fees were $996,438 or 55% of $1.8 million budgeted. The line-item revenue was $467,764 less than what was collected last year for the period.
The city received more than $2 million in revenues in the form of state aid for its five pension plans. But on the expense said, the city paid more than $5.6 million into its five plans, covering the annual costs for the non-uniformed employees’ plans and the two each for fire and police.
Overtime costs in some departments exceeded their annual budgeted amounts.
Retirements in the fire department pushed overtime to $379,876 or 253% of the $150,000 budgeted.
The ambulance total was $74,973 or 106% of the budgeted $70,500.
The overtime costs should drop due the 13 new firefighters hired over the summer to fill vacancies. Most of them have been undergoing training and have not yet begun working.
There was more than $2.9 million left to pay on the debt service for the year. The city paid $1.9 million of the $4.8 million in annual payments.
One expense stood out from all the others. A line-item payment of $42,328 or economic development and assistance contract services was 8,466% of the $500 budgeted amount.
Brett Kittrick, the city’s Finance Officer, said Monday the payment is the local match for the Luzerne County Transportation Authority’s purchase of the Murray Complex site for its new facility.
“As the host municipality, the city committed those funds to allow the LCTA to acquire the land to build their new headquarters. The city will recoup those costs and much more through permit fees for the project,” Kittrick said.
