Final Budget Approval Delayed Until End of Month
The $14 million municipal budget stays within a 2% tax levy cap
For an additional $142 increase on their tax bills, River Edge taxpayers will be getting a $14,262,064.93 municipal budget in 2012 that does not include any employee furloughs for the first time in several years.
"This year's budget was challenging due to revenues decreasing by 5%, a significant increase in the Bergen County Utilities Authority and emergency costs for Hurricane Irene and the October snowstorm," Borough Administrator/CFO Alan Negreann said.
But the borough is looking to offset some of the revenue loss as redevelopment projects move forward.
"The proposed housing developement before the Planning Board would bring in approximately $300,000 in revenue," Mayor Sandy Moscaritolo said. "The Huffman Koos project could break ground for two new buildings and we're looking for a developer for the Transit Village project.
What the budget does include is $1 million in capital improvement projects such as the public safety/borough hall generator, replacing the roof at the public library and department of public works, tearing down the American Legion, new HVAC systems at the library and Borough Hall, a small generator at Fire Company 2, storm sewer rehabilitation on Voorhees Avenue and narrowband radios for the police and ambulance corp and the replacement of the DPW tree truck.
For an average assessed home of $436,000 the taxpayer would see a $142 increase as part of their contribution to the $11.7 million tax levy.
The final budget adoption is schedule for late April or early May.