finance https://www.thebatavian.com/ en https://www.thebatavian.com/themes/barrio_batavian/images/thebatavian_logo.png finance https://www.thebatavian.com/ Local Matters © 2008-2023 The Batavian. All Rights Reserved. Mon, 27 May 2024 05:35:08 -0400 https://www.thebatavian.com/themes/barrio_batavian/images/thebatavian_logo.png Mon, 13 Aug 2018 13:34:00 -0400 Financial Peace University https://www.thebatavian.com/events/financial-peace-university/519849 Are you ready to change your financial future?
Our next semester of Financial Peace University will be held on Tuesday nights, starting on Sept. 18 from 7-8:30 at our North Campus.

It is located at 8160 Bank Street Road, Batavia.

For more than 25 years, Financial Peace University, created by Dave Ramsey, has helped millions of people take control of their money. Through this nine-week course, Ramsey’s proven money class will show you step-by-step how to create a budget, pay off your debt, make wise spending decisions, and save for the future.

Cost is $109 for class materials and one-year of FPU access, good for one person and their spouse. Scholarships are available.

You can find the link to register on our website or here. If you have questions please email john@northgatefmc.com or call the office at (585) 343-4011.

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https://www.thebatavian.com/events/financial-peace-university/519849#comments https://www.thebatavian.com/events/financial-peace-university/519849 Aug 13, 2018, 1:34pm finance Financial Peace University office_269763 <p>Are you ready to change your financial future?<br> Our next semester of Financial Peace University will be held on Tuesday nights, starting on Sept. 18 from 7-8:30 at our North Campus.</p> <p>It is located at 8160 Bank Street Road, Batavia.</p> <p>For more than 25 years, Financial Peace University, created by</p>
County Airport is an Integral Part of Our Local Transportation Network https://www.thebatavian.com/blogs/county-highway/county-airport-integral-part-our-local-transportation-network/14151 Recent editorials in the Daily News, while defending the Genesee County Nursing Home, have been critical towards the funding of a new set of T-Hangars at the Genesee County Airport.  The usual airport slurs such as the "Rich man's playground" and the "Rich get richer" or "Benefits very few" are being used again.  It is important to remember that the Airport is an integral part of our local transportation network and critical to the continued development of the local economy. 

All of the residents of Genesee County benefit directly from the operations of the airport on Saile Drive just as they benefit from a well maintained system of roads and bridges.  In fact, it can be argued from a financial standpoint that they get back more than they put in.

In 2009, Genesee County spent $547,338.07 to operate its airport.  This money was appropriated from the General Fund, which is supported with the property tax levy among other items.  Genesee County staffs the airport and rents or leases property, hangars and tie-down spaces to private individuals and businesses.  In addition, the county sells fuel to based and transient aircraft.  These two revenue sources generated $581,455.12 in 2009 for a total surplus of $34,117.05.  A portion of this surplus, $15,008.05 was used to payback a shortfall in 2008 and the remainder, $19,109.00, was placed in a deferred revenue to be used to offset future airport expenses.  The shortfall in 2008, since paid back, was the first time since 2000 that the airport cost property taxpayers a single penny.

From an operational standpoint the County Airport is cost neutral to property taxpayers.  There is however a tremendous amount of economic and social impact created by the activities at the Genesee County Airport.  Boshart Enterprises and Aircraft Services operate from the Main Hangar at the airport.  This is a successful private business that employees several people.  Several prominent local companies such as Milton Cat, Innovative Energy, Lowe's, National Grid, Western New York Energy and others rely on the airport to run their business.  Mercy Flight houses a aeromedical unit and helicopter at the airport that allows them to respond within minutes of an accident in Genesee County.  In addition, although some events are no longer hosted, the airport supports local community services by hosting pancake breakfasts, meetings, educational tours and other promotional events.

The county does a significant amount of capital development at the airport as well.  Most of these projects are funded with federal and state aid--to the tune of 97.5 cents on the dollar.  These federal and state funds are not generated by income or other payroll taxes, but through fees assessed only to airport businesses and air travellers.  These Airport Improvement Program (AIP) grants fund everything from security improvements to runway maintenance and generate and support local jobs when work is awarded at the airport.  Since 2005 Genesee County has contributed $73,129 towards AIP projects and by doing so has leveraged nearly $3 million in infrastructure improvements.  That is $3 million pumped into the local economy via jobs, supplies and services.  The county share of these projects is funded with a portion of the 1% additional sales tax the county collects to fund capital projects and pay long term debt.  The average annual contribution of sales tax to the airport is $14,625.80, which is typically less than the surplus produced by airport operations.

From time to time the county also receives grants from the state to pay for facility improvements, which are not otherwise eligible for federal aid.  The Mercy Flight hangar, a 10-Bay T-Hangar constructed in 2008 and the most recent 8-Bay T-Hangar all are partially offset by state aid.  Both sets of T-Hangars received $300,000 grants that were a part of the 2005 Transportation Bond Act that was approved on a ballot by NYS voters that year.  The remaining portion of the hangars is funded locally.  In 2008, $78,995 was contributed from the airport's deferred revenue account to fund a portion of the remaining share of $395,000.  The payback on the county's investment of approximately $300,000 in each case is about 10.4 years based solely on revenue generated from the rental of the hangars--even less when you factor in additional fuel sales.  Not a bad return on investment for county taxpayers.

So while I can truly appreciate folks trying to garner support for the County Nursing Home and its current and future residents, it is not fair to label the Airport as "Bad" for the County.

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https://www.thebatavian.com/blogs/county-highway/county-airport-integral-part-our-local-transportation-network/14151#comments https://www.thebatavian.com/blogs/county-highway/county-airport-integral-part-our-local-transportation-network/14151 Mar 26, 2010, 5:00pm finance County Airport is an Integral Part of Our Local Transportation Network County Highway <p>Recent editorials in the <em>Daily News, </em>while defending the Genesee&nbsp;County Nursing Home, have been critical towards the funding of a new set of T-Hangars at the Genesee County Airport.&nbsp; The usual airport slurs such as the "Rich man's playground" and the "Rich get richer" or "Benefits very few"&nbsp;are being used</p>
Time to VOTE on "Pay it Forward" Entries! https://www.thebatavian.com/blogs/breroz/time-vote-pay-it-forward-entries/10347 Tonawanda Valley Federal Credit Union is "Paying it Forward." Everyone over the age of 18, a TVFCU member or not, was given the opportunity to tell us how they would "Pay it Forward" if we gave them $10. After a large turn out, a team of judges was assembled to sift through the videos and select the ten finalists. Now, it is your turn. Review the following videos and then vote for your favorite in the column on the left hand side of this page! Voting will end on November 2nd 2009!

 

Thank you for voting!

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https://www.thebatavian.com/blogs/breroz/time-vote-pay-it-forward-entries/10347#comments https://www.thebatavian.com/blogs/breroz/time-vote-pay-it-forward-entries/10347 Oct 20, 2009, 11:23am finance Time to VOTE on "Pay it Forward" Entries! BreRoz <p>Tonawanda Valley Federal Credit Union is "Paying it Forward." Everyone over the age of 18, a TVFCU member or not, was given the opportunity to tell us how they would "Pay it Forward" if we gave them $10. After a large turn out, a team of judges was assembled to</p>
Tonawanda Valley Federal Credit Union "Pays it Forward"TODAY! https://www.thebatavian.com/blogs/breroz/tonawanda-valley-federal-credit-union-pays-it-forwardtoday/10210

Visit TVFCU on Thursday, October 15th when we will be giving you $10.00, just for telling us how you would use it to help someone else! Entries will be videoed.  Finalists will be selected and posted on-line for voting. The winner will be awarded $1000 to use in contributing toward their cause. Stop by October 15th, when between 10am and 2pm, to tell us how you would Pay it Forward. Employees and their families are not eligible.

 

10 Jefferson Sq Batavia NY 14020 10am-2pm TODAY!

 

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https://www.thebatavian.com/blogs/breroz/tonawanda-valley-federal-credit-union-pays-it-forwardtoday/10210#comments https://www.thebatavian.com/blogs/breroz/tonawanda-valley-federal-credit-union-pays-it-forwardtoday/10210 Oct 15, 2009, 9:17am finance Tonawanda Valley Federal Credit Union "Pays it Forward"TODAY! BreRoz <p> <br> </p> <p>Visit TVFCU on Thursday, October 15<sup>th </sup>when we will be giving you $10.00, just for telling us how you would use it to help someone else! Entries will be videoed.<span>&nbsp; </span>Finalists will be selected and posted on-line for voting. The winner will be awarded $1000 to use in</p>
"Pay it Forward Event" Thurs, Oct 15th 10am - 2pm https://www.thebatavian.com/blogs/breroz/pay-it-forward-event-thurs-oct-15th-10am-2pm/10026

I am really excited about this upcoming event in Batavia. Tonawanda Valley Federal Credit Union is going to Pay it Forward to the Batavia NY community with $10 CASH to each participant. I added a paragraph below to explain this event clearly!

Youve heard people say, a penny for your thoughts.  Visit TVFCU on Thursday, October 15th when we will be giving you 1,000 pennies - $10.00 - just for telling us how you would use it to help someone else!  All entries will be videoed.  Finalists will be selected from these entries and posted on-line for voting. The winner will be awarded $1000 to use however they wish in contributing toward their cause. Stop by October 15th, when videoing will take place between 10 am and 2pm, to tell us how you would Pay it Forward. Employees and their families are not eligible.  For more details about TVFCU Pay it Forward and voting, visit TVFCUBatavia.com or see our Pay it Forward Video and Rules.

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https://www.thebatavian.com/blogs/breroz/pay-it-forward-event-thurs-oct-15th-10am-2pm/10026#comments https://www.thebatavian.com/blogs/breroz/pay-it-forward-event-thurs-oct-15th-10am-2pm/10026 Oct 7, 2009, 10:55am finance "Pay it Forward Event" Thurs, Oct 15th 10am - 2pm BreRoz <p> </p> <p>I am really excited about this upcoming event in Batavia. Tonawanda Valley Federal Credit Union is going to Pay it Forward to the Batavia NY<span>&nbsp;</span>community with $10 CASH to each participant. I added a paragraph below to explain this event clearly!</p> <p>You<span>’</span>ve heard people say,</p>
News roundup: City could tap into stimulus package for $4.5 million https://www.thebatavian.com/blogs/philipanselmo/news-roundup-city-could-tap-stimulus-package-45-million/4465 Batavia's City Council voted in favor of a measure last night that would use $425,000 to "design work for a half dozen" infrastructure projects, WBTA's Dan Fischer reports. That investment of $425,000 is supposed to yield $4.5 million worth of construction, on projects such as: undersized water mains, waterline break history, inoperable valves, sanitary sewer line conditions and road conditions.

Fischer explains that the $425,000 would be part of the aid received by the city from the Video Lottery Terminal Aid that was received earlier this year.

Councilman Frank Ferrando is quoted in the Daily News this morning as saying: "If we can get $4.5 million to get jobs that we have to do and can get it for an investment of $425,000, I think we have to do it,” he said. “There’s going to be a lot of money out there."

No one, however, explains how any of this would work. In fact, rather than explaining it, the article today in the Daily has only this to say:

It is a gamble. Assistant Manager Sally Kuzon said there’s no guarantee of the city actually getting the money from the state Economic Facility Corp. But spending $425,000 to design those six projects is a move toward it, she said.

It's a gamble!? So the city plans to gamble with gambling money. A little irony, perhaps. Furthermore, where did the state Economic Facility Corp. come from? No one is explaining this to us, folks. All we hear is Frank Ferrando saying: 'Hey, we can turn $425,000 into $4.5 million. Poof! We're rich and we have jobs. How can we not do this?'

What everyone has failed to note is that the hoped-for millions that would magically be available if only the city spent this $425,000 are part of the proposed economic stimulus package that just last night was the subject of a national news conference.

From a letter drafted by Assistant City Manager Sally Kuzon:

I have been monitoring the progress of the President's proposed Economic Stimulus Package over the last several weeks in an attempt to place the city in a competitive position to receive funding for infrastructure improvements.

Kuzon goes on to say that while there has been "tremendous debate" over just what will happen with the stimulus, she believes that "infrastructure improvements nationwide will have a prominent position within this initiative." In other words, the city should get it on it. We should submit "shovel ready projects" to the state's Economic Facility Corp., which will adminster the federal funds allocated to New York.

She continues:

Although there is a certain amount of uncertainty as to whether or not the programs will include loans or grants or whether the program will extend to projects not currently listed on the (Intended Use Plan); it is clear that only shovel ready projects submitted to the EFC will be considered for the current or future funding rounds. Based on this premise, I am recommending several projects for Council to consider submitting tothe EFC for economic stimulus funding.

We mentioned some of those projects above. The $425,000 requested by Kuzon would be used to design the projects and submit the designs to the state so that they would be eligible to receive the funding if and when it became available. However...

It is unknown at this time if the design phase or only construction cost will be eligible for reimbursement. If for some reason the city does not receive economic stimulus funding the projects will be designed and ready for construction as funds or grants become available in the future.

In a letter drafted to the City Council on Kuzon's proposal, City Manager Jason Molino writes: "The crux of this stimulus package is to get people back to work receiving pay checks; with $4,500,000 of infrastructure improvements that goal will be acheived."

Nowhere does anyone explain how these infrastructure improvements will acheive the goal of "getting people back to work." Kuzon never once takes up this issue in her letter, and nothing from Council addresses this either. We only hear people tell us: It will happen.

Molino justifies this use of these funds in this way:

Utilizing a portion of this years (sic) VLT aid to support the project design costs is both appropriate and realistic considering the City did not budget for this one-time revenue and these costs are one-time capital costs.

Council President Charlie Mallow can be heard in an audio quote on WBTA as saying that Batavia needs to do this. Otherwise, the jobs will go to New York City. He wrote to us in an e-mail this morning:

The action council took last night was about job creation right here in Genesee County, instead of New York City. Regardless of how we feel about the spending on the national level, we owe it to our residents to secure our share of this huge stimulus package. We are all going to pay for it whether we have enough foresight to act or not on a local level.

We're waiting to hear back on how this will create jobs. See below.

Click here to download the letters by Molino and Kuzon, along with descriptions of the infrastructure projects noted in the proposal.

Councilmen Sam Barone and Bob Bialkowski were the only two members of Council who voted against the measure, saying that the state aid could be used instead to reduce the city's deficit or for "future needs."

Updated (8:28 a.m.): Council President Charlie Mallow responded to our question of how this stimulus money would create jobs.

Any aid we receive needs to be spent on projects that are shovel ready and can break ground in 180 days. That means putting people to work this summer. Local construction workers would be the first ones to work or to keep on working. Then there is the trickle down affect with people who work driving trucks, making concrete, selling building supplies, laying pipe, and even restaurants the workers, etc. We as a local government decided to do what we needed to do so that our people would feel the benefits of these make work projects that will be going on around the country. I believe this depression era type projects will boost our economy up and out of the slump we find ourselves in.
 
If fully funded, these projects will rebuild parts of 11 streets in the city this year. These projects are for sewer, water, road surface and sidewalks, and most call for complete reconstruction. This work will be on top of the work being done on Walnut, Oak and the $150,000 of sidewalk repair already budgeted this year. There will be a lot of activity going on this summer to rebuild the city from the ground up.

Update (8:35 a.m.): A very timely headline in the Buffalo News this morning reads: New York loses millions in revised Senate stimulus bill. From the article:

Gone entirely is funding for higher education construction, which, under the House-passed version, could have meant up to $242 million for the University at Buffalo.

Similarly, the Senate eliminated funding for school construction. The House bill would have provided $31.9 million for the district of Rep. Brian Higgins, D-Buffalo.

Senators also halved a $79 billion fiscal stabilization fund for the states. While much of the aid to local school districts remains intact, the cuts included a $25 billion fund aimed at helping governors balance their budgets.

Will we see even more funds cut from the stimulus by the time it is passed?

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https://www.thebatavian.com/blogs/philipanselmo/news-roundup-city-could-tap-stimulus-package-45-million/4465#comments https://www.thebatavian.com/blogs/philipanselmo/news-roundup-city-could-tap-stimulus-package-45-million/4465 Feb 10, 2009, 8:16am finance News roundup: City could tap into stimulus package for $4.5 million philip.anselmo <p>Batavia's City Council voted in favor of a measure last night that would use $425,000 to "design work for a half dozen" infrastructure projects, <a href="http://www.wbta1490.com/cgi_bin/news_view.pl">WBTA</a>'s Dan Fischer reports. That investment of $425,000 is supposed to yield $4.5 million worth of construction, on projects such as: undersized water mains, waterline</p>
News roundup: City school board cuts a half million from budget https://www.thebatavian.com/philip-anselmo/news-roundup-city-school-board-cuts-a-half-million-from-budget/4336 After slimming the budget by a half million dollars last night, the Batavia City School Board has already cut the proposed property tax increase from 23 to 16 percent, according to WBTA's Dan Fischer. City Schools Superintendent Margaret Puzio told Fischer that she hopes an offer of early retirement option to three labor unions could help stave off any outright layoffs of teachers or staff. Puzio also hopes and expects to further reduce the tax increase. Visit the WBTA Web site to hear her comments on that.

Batavia city schools are closed today for Superintendent's Conference Day. Also, LeRoy BOCES school is closed today due to a water main break.

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https://www.thebatavian.com/philip-anselmo/news-roundup-city-school-board-cuts-a-half-million-from-budget/4336#comments https://www.thebatavian.com/philip-anselmo/news-roundup-city-school-board-cuts-a-half-million-from-budget/4336 Feb 3, 2009, 7:28am finance News roundup: City school board cuts a half million from budget philip.anselmo <p>After slimming the budget by a half million dollars last night, the Batavia City School Board has already cut the proposed property tax increase from 23 to 16 percent, according to <a href="http://www.wbta1490.com/cgi_bin/news_view.pl">WBTA</a>'s Dan Fischer. City Schools Superintendent Margaret Puzio told Fischer that she hopes an offer of early retirement</p>
News roundup: City school board will release budget numbers tonight https://www.thebatavian.com/blogs/philipanselmo/news-roundup-city-school-board-will-release-budget-numbers-tonight/4314 Batavia's City School Board will meet tonight at 7 o'clock to discuss the proposed budget for next year, WBTA's Dan Fischer reports. In its current version, the budget calls for a 23 percent property tax increase.

Students will not have classes at Notre Dame High School today. A funeral mass will be held this morning at 10 o'clock at St. Anthony's Church for Nadine Netter, the school's cook who died unexpectedly last week.

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https://www.thebatavian.com/blogs/philipanselmo/news-roundup-city-school-board-will-release-budget-numbers-tonight/4314#comments https://www.thebatavian.com/blogs/philipanselmo/news-roundup-city-school-board-will-release-budget-numbers-tonight/4314 Feb 2, 2009, 7:52am finance News roundup: City school board will release budget numbers tonight philip.anselmo <p>Batavia's City School Board will meet tonight at 7 o'clock to discuss the proposed budget for next year, <a href="http://www.wbta1490.com/cgi_bin/news_view.pl">WBTA</a>'s Dan Fischer reports. In its current version, the budget calls for a 23 percent property tax increase.</p><p>Students will not have classes at Notre Dame High School today. A funeral</p>
City department heads slated for raises tied to scheduled union raises https://www.thebatavian.com/blogs/philipanselmo/city-department-heads-slated-raises-tied-scheduled-union-raises/4280 Batavians can take some comfort in the fact that the City Council recently whittled down the proposed tax increase of 3.6 percent down to 2.17 percent, without really sacrificing any city services—the jury is still out on whether the ambulance flap will help or hinder us in the long run.

Nevertheless, some rumors are going around that the Council has instituted raises for all of the city department heads. We put the question to Council President Charlie Mallow this morning in an e-mail. He told us that "all city employees have mandated cost of living increases based on union contracts except seven administrative people." Mallow feels that it's unfair for those seven people not to receive the same sort of "increases"—he never used the word "raise"—as the rest of the union-backed employees.

His words:

There is a sense of right and wrong here. I do not believe non-union employees should be punished for not being part of a collective barging unit. Keep in mind that our administrative people have worked hand in hand with council to eliminate close to a $3 million dollar spending deficit in the last two years. The hard work of these administrative people reduced the size of city government. Some people out of sheer ignorance would like to single these people out; I think the rest of the community understands how far we have come and who helped us along the way.

Here are some of the budgeted figures listed under "personnel services"—does not include overtime, social security, supplies, etc.—for a few of the city's top offices (2008 and 2009):

• City Manager's Office: $103,629 (2008), $106,140 (2009)
• Bureau of Finance: $35,639 (2008), $39,040 (2009)
• Bureau of City Assessment: $33,624 (2008), $34,590 (2009)
• Bureau of Inspection: $138,246 (2008); $195,860 (2009)

Strangely, the "Bureau of the Clerk-Treasure" is scheduled for a reduction in its budget for personnel services in 2009. That office was listed at $64,212 in 2008; $60,790 has been listed for 2009.

Since the budget does not break down each city employee's salary into a tidy, comprehensible format, we asked Mallow if the Council had a document illustrating all of the changes that were effected. He replied: "A list of budget changes does not exist; it was a very fluid process." We then asked if the city could provide a list of every employee's salary for 2008 and the proposed salary for 2009. We're waiting on that.

More from Mallow:

The single most important thing behind this budget was planning for the future with a series of contingency funds. These funds will allow the city to save for future equipment purchases. Doing this will allow us to have a stable tax rate in the future and be less prone to large swings like we have seen in the past. People should understand that we have taken on the practices that businesses use every day. We plan, we have goals and we live within our budget.

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https://www.thebatavian.com/blogs/philipanselmo/city-department-heads-slated-raises-tied-scheduled-union-raises/4280#comments https://www.thebatavian.com/blogs/philipanselmo/city-department-heads-slated-raises-tied-scheduled-union-raises/4280 Jan 30, 2009, 1:57pm finance City department heads slated for raises tied to scheduled union raises philip.anselmo <p>Batavians can take some comfort in the fact that the City Council recently whittled down the proposed tax increase of 3.6 percent down to 2.17 percent, without really sacrificing any city services—the jury is still out on whether the ambulance flap will help or hinder us in the long run</p>
City Council will meet Saturday for budget review session https://www.thebatavian.com/blogs/philipanselmo/city-council-will-meet-saturday-budget-review-session/3816 From the City of Batavia:

Please be advised that Batavia City Council will hold a budget work session on Saturday,
January 10, 2009.  The meeting will be from 9:00 am – 4:00 pm in the Council Board Room on the second floor of City Hall.

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https://www.thebatavian.com/blogs/philipanselmo/city-council-will-meet-saturday-budget-review-session/3816#comments https://www.thebatavian.com/blogs/philipanselmo/city-council-will-meet-saturday-budget-review-session/3816 Jan 5, 2009, 1:40pm finance City Council will meet Saturday for budget review session philip.anselmo <p>From the City of Batavia:</p><p>Please be advised that Batavia City Council will hold a budget work session on Saturday, <br>January 10, 2009.&nbsp; The meeting will be from 9:00 am – 4:00 pm in the Council Board Room on the second floor of City Hall.</p>