In our Feb 10, 2014 posting, the first line “Since 2004 monies received from the State has declined by 7.6%.” is mis-leading. It should have said “Since 2004 monies received from all sources* not including Real Estate Taxes [other revenues] has declined by 7.6%”.
In fact, contrary to popular belief, State aid, as shown on the accompanying chart, has increased over this period by 66.5%. The other revenue accounts accounts either remained constant or declined creating the net decline in the overall account. For instance in 2004 State aid was 24.5% [2,987,830/12,183,896] of other revenues while in 2014 State aid accounted for 44.2% [4,975,946/11,259,560] of other revenues.
State re-imbursements 2004 – 2014 [Assessor data]
* Exclusive of Real Estate taxes, other revenue funds include excise tax, meals tax, penalties and interest on taxes, PILOTS, fees, rentals, school revenues, cemetery revenues, other department revenues, licenses and permits, fines, investment income, and Medicaid reimbursements. Also included in that amount are the enterprise funds collected for emergency medical services, Reedy Meadow and King Rail Golf Courses. Finally that figure is also inflated by Free Cash and Other Available Funds.