Post by admin on Apr 27, 2009 4:41:38 GMT -5
www.app.com/article/20090422/NEWS01/904220324/1004&source=rss
FREEHOLD — The Borough Council has introduced a $14.1 million municipal budget for 2009 that would raise taxes about 5 percent for borough property owners.
A public hearing on the budget — introduced Monday — will be held at 5:30 p.m. May 21 at the municipal building, 51 W. Main St.
"It's a very lean budget," said Borough Administrator Joseph Bellina.
The proposed budget calls for a tax levy — the amount raised through taxation — of about $8,118,383, up roughly $368,028 from 2008.
For property owners, this will mean a tax rate increase of 3.7 cents, from 71.8 cents per $100 of assessed property value to 75.5 cents, Bellina said. The average homeowner — with property assessed at $259,676 — would be billed about $96 more in municipal taxes.
Those taxes would go toward a budget of $14,055,136, which would be about $65,000 less than the amount allocated in last year's budget, according to the borough's chief financial officer, Nancy Forman.
Borough officials are anticipating declines in several sources of revenue this year, including court and construction fees and interest on investments, Bellina said.
Salaries and wages, meanwhile, are rising, and Bellina said he has budgeted for an increase in the amount paid for the town's garbage collection.
Officials hope to save money with several measures, including the deferral of part of the borough's obligations to the police and fire and public employee retirements systems.
Council members passed a resolution Monday seeking approval from the Local Finance Board to reduce its pension payment to about $508,000. The borough would hold off on paying the rest of its contribution, which would be about $452,000, according to Forman.
The town will also save by not filling four positions vacated last year: the tax collector, two public works employees and one water and sewer employee. Two police officers who retired this year will not be replaced unless the town is approved for federal funds, Bellina said.
There are no plans in 2009, Bellina said, for furloughs, layoffs or wage freezes — measures taken by other area municipalities to balance their books.
Approximately $200,000 in savings will also come from a switch in insurance carriers, Bellina said. Officials are also cutting expenses and are exploring energy efficiency measures, like the new lighting recently installed in the municipal building, Bellina said.
Kim Predham: (732) 308-7752 or kpredham@app.com
FREEHOLD — The Borough Council has introduced a $14.1 million municipal budget for 2009 that would raise taxes about 5 percent for borough property owners.
A public hearing on the budget — introduced Monday — will be held at 5:30 p.m. May 21 at the municipal building, 51 W. Main St.
"It's a very lean budget," said Borough Administrator Joseph Bellina.
The proposed budget calls for a tax levy — the amount raised through taxation — of about $8,118,383, up roughly $368,028 from 2008.
For property owners, this will mean a tax rate increase of 3.7 cents, from 71.8 cents per $100 of assessed property value to 75.5 cents, Bellina said. The average homeowner — with property assessed at $259,676 — would be billed about $96 more in municipal taxes.
Those taxes would go toward a budget of $14,055,136, which would be about $65,000 less than the amount allocated in last year's budget, according to the borough's chief financial officer, Nancy Forman.
Borough officials are anticipating declines in several sources of revenue this year, including court and construction fees and interest on investments, Bellina said.
Salaries and wages, meanwhile, are rising, and Bellina said he has budgeted for an increase in the amount paid for the town's garbage collection.
Officials hope to save money with several measures, including the deferral of part of the borough's obligations to the police and fire and public employee retirements systems.
Council members passed a resolution Monday seeking approval from the Local Finance Board to reduce its pension payment to about $508,000. The borough would hold off on paying the rest of its contribution, which would be about $452,000, according to Forman.
The town will also save by not filling four positions vacated last year: the tax collector, two public works employees and one water and sewer employee. Two police officers who retired this year will not be replaced unless the town is approved for federal funds, Bellina said.
There are no plans in 2009, Bellina said, for furloughs, layoffs or wage freezes — measures taken by other area municipalities to balance their books.
Approximately $200,000 in savings will also come from a switch in insurance carriers, Bellina said. Officials are also cutting expenses and are exploring energy efficiency measures, like the new lighting recently installed in the municipal building, Bellina said.
Kim Predham: (732) 308-7752 or kpredham@app.com