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Post by Libyan Sibyl on Mar 26, 2008 9:19:49 GMT -5
Year 2000
Budget $8,571,648
Local Rate 1.02
local amount raised $4,879,204
Year 2001
Budget $9,007,693
Local Rate 1.028
local amount raised $4,824,368
Year 2002
Budget $9,544,500
Local Rate 1.046
local amount raised $5,064,538
Year 2003
Budget $10,063,165
Local Rate 1.083
local amount raised $5.2 million
Year 2004
Budget $11.08 million
Local Rate 1.13
local amount raised $5.5 million
Year 2005
Budget $11.6 million
Local Rate 59.8 (Re-evaluation year)
local amount raised $6.5million
Year 2006
Budget $12.5million
Local Rate 62.97
local amount raised $6.8 million
Year 2007
Budget $13.2 million
Local Rate 65.8
local amount raised $7.1 million
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Post by Libyan Sibyl on Mar 26, 2008 9:26:01 GMT -5
The 2008 Borough Budget should be seeing the light of day soon. The above is info obtained from the newspapers, and any errors are slight.
It is interesting to see that since 2000, the budget has gone up by over 64%.
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Post by Libyan Sibyl on Mar 26, 2008 9:34:16 GMT -5
Perhaps this should be tackled on a separate thread, but in the budget articles, the issue of debt servicing is usually brought up - but not always. To my understanding, "debt servicing" is the amount of money owed out on bonds...
A quote from the paper:
"The 2002 budget has a debt service amount of $191,652, which is a decrease from last year’s figure of $267,095."
However, two years later...
"Debt service costs will be $848,682 in 2004, up $34,575 from last year."
WHAT? I don't know what the heck happened in 2002 or 2003, but that it incredible.
Lat year,
"Bellina said the borough's debt service payment is up $40,000 in this year's budget, to a total of $994,000."
This is an interesting story in and of itself... I wish I knew more than just what the paper has reported...
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Post by novillero on Mar 26, 2008 10:07:51 GMT -5
"Debt servicing costs" is defined as "The annual cost of paying interest on a company's outstanding debt." according to www.yourdictionary.com/debt-service-costMakes sense, it is the amount paid to service the debt, not to pay it off. Anyone know of any projects the town has had perform which would have increased the outstanding debts (and thereby incresing the debt servicing costs)? |
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Post by admin on Mar 26, 2008 17:37:34 GMT -5
Ls,
Where have you been! You have been a quiet one. This thread appears to have been lost due to all the talk about Kruize Nite today. it is a good topic and I am sure we will pick it up again.
Right off the bat, it raised a lot of questions for me, not necessarily bad ones.
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Post by croque monsieur on Mar 26, 2008 19:30:07 GMT -5
Mon dieu!!! that is a lot of francs!
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Post by Libyan Sibyl on Apr 29, 2008 13:15:36 GMT -5
no budget yet. Several months ago, Mayor Bloomberg was cutting and slashing under the assumption of a recession and that money will not be coming from the government.
While Joe Bellina does an excellent ob of procuring funds for the boro, you really need to assess the numbers above and wonder what happens to the boro's taxes if some of that free money get slashed.
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Post by admin on Apr 29, 2008 13:55:37 GMT -5
no budget yet. Several months ago, Mayor Bloomberg was cutting and slashing under the assumption of a recession and that money will not be coming from the government. While Joe Bellina does an excellent ob of procuring funds for the boro, you really need to assess the numbers above and wonder what happens to the boro's taxes if some of that free money get slashed. I am not sure about the borough taxes, but if we should see a reduction in aid, I would assume cuts would be on the table. Without looking for the recent article, Freehold Township was talking about cutting jobs. Next, I assume, services would have to be looked at. I would love to see a break down of the entire budget and see where costs are rising the quickest. |
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adefonzo
Junior Member
If I can see further than some, it's because I have stood on the shoulders of giants
Posts: 308
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Post by adefonzo on Apr 30, 2008 5:57:14 GMT -5
no budget yet. Several months ago, Mayor Bloomberg was cutting and slashing under the assumption of a recession and that money will not be coming from the government. While Joe Bellina does an excellent ob of procuring funds for the boro, you really need to assess the numbers above and wonder what happens to the boro's taxes if some of that free money get slashed. I believe the budget should be a public document a subject to the Open Public Records Act...just a matter of getting over to Town Hall and getting copies of the last few years...of course, you talking about some serious reading!! I am not sure about the borough taxes, but if we should see a reduction in aid, I would assume cuts would be on the table. Without looking for the recent article, Freehold Township was talking about cutting jobs. Next, I assume, services would have to be looked at. I would love to see a break down of the entire budget and see where costs are rising the quickest. |
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