2017 GDSD Corrected Budget

Dear Garden District Residents:

Please excuse the error in calculation the previous budget included in the Year End Letter from the Garden District Security Patrol. Below, please find the corrected version. 2017 Budget The 2017 Budget is based on the previous years of operation of the District, the recent information gathered from the Assessor regarding preliminary assessments, the required rollback neutralization of the taxes, and the City of New Orleans regarding collections from 2016. At its annual public hearing and budget meeting in November, the GDSD Board of Commissioners discussed and determined the number of mills to be levied against each property for 2017 to be 11, the same level since 2013. This tax is billed via the city’s property tax bills sent in December each year. The 2017 budget below shows the income and projected expenses for the coming year. Projected 2016 Balance Forward $ 936,511 Income Revenue from taxes ( 99% collectible) 900,422 Less 4% collection fee to City (36,017) Prior Year’s Taxes 0 Interest (est) 2500 Total Revenue 866,905 Expenses Patrol 72/hrs/day plus extra patrols $ 745,810 NOPD Extra Patrol 73,000 Insurance 25,000 Enhanced Security Program 10,000 Administrative/Office/Accounting 55,140 Legal 10,000 Contingency 5,000 $ 963,280 Revenue Less Expenses (96,375) Projected Ending Balance 2017 $ 840,136 Here’s hoping you have a safe and happy 2017!