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Capital Budget

Tuesday, April 3, 2012

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…

In this Article:

Plans For 46-Unit Development On Kinderkamack Advance, Transit Village Project Timeline Pushed Back, Proposed Budget Calls for $1.5 Million in Capital Bonds, and 8 more ›

ScaryMary

9:50 am on Tuesday, May 29, 2012

GGT, I thought you were moving out of town.   more ›

Tuesday, March 6, 2012

Proposed Budget Calls for $1.5 Million in Capital Bonds

The $14 million River Edge municipal budget will have an $142 increase on taxpayers

With an introduced $14 million municipal budget, the borough of River Edge is also looking at the highest bonds and interest amount to be included since the 1970s. The borough has proposed $1.5 million in capital bonds towards infrastructure upgrades to the municipal buildings. "The total payment on bonds and interest is $1.5 million," Councilman Johnny Porco said. "It's the most it has ever been since the 1970s and our budget in 2000 was $10 million as opposed to the $14.3 million today." "This council inherited an infrastructure that is falling apart at all of the buildings to to correct those wer need to spend money," Councilman Alphonse Bartelloni said. "It's unfortunate we have to do that but when you're facing critical infrastructure…

In this Article:

Generator Replacement Costs Include Extensive Labor Costs, River Edge Public Library, New Year Could Bring New Roof to DPW, and 5 more ›

Michael Barry

4:36 pm on Tuesday, March 13, 2012

I guess we see what the Democrats did to this towns fiscal health when they had six Democrats on the council. I am told that River Edge had one of the lowest tax rates in Bergen County. Now we're among the highest, yet the Democrats will blame the Republican majority who are FINALLY trying to undo the damage they wrought for so long.   more ›

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