Budget Hearing Tonight
The City Council will hold a hearing tonight (Oct. 17, 2005) on the $64 million proposed budget for the 2006 fiscal year that began July 1.
The meeting is 8 p.m. in Municipal Court, 325 Watchung Ave.
The council has held budget talks for several weeks and voted to introduce the budget on Sept. 6. After the public hearing, the council plans more talks to discuss possible amendments before final adoption.
The budget started out reflecting a 2.09 percent increase in the local tax levy, or an increase of $109.82 for the average homeowner.
But in August the administration said a $425,000 increase in pension costs and other adjustments would push the increase to 7.34 percent. The council voted to increase the cap, or limit on maximum allowable appropriations , from 2.5 to 3.5 percent and also approved an application for extraordinary state aid to be used for tax relief. Officials have not received any word as yet on state aid.
Among the city’s three departments, more than one-third of the budget goes for public safety costs. Administration and Finance, which also includes social services, accounts for about one-quarter and Public Works and Urban Development takes up about 11 percent.
The city gets 65 percent of its revenues from property taxes, about 16 percent from state aid, 5 percent from delinquent taxes and the balance from other sources.
--Bernice Paglia
The meeting is 8 p.m. in Municipal Court, 325 Watchung Ave.
The council has held budget talks for several weeks and voted to introduce the budget on Sept. 6. After the public hearing, the council plans more talks to discuss possible amendments before final adoption.
The budget started out reflecting a 2.09 percent increase in the local tax levy, or an increase of $109.82 for the average homeowner.
But in August the administration said a $425,000 increase in pension costs and other adjustments would push the increase to 7.34 percent. The council voted to increase the cap, or limit on maximum allowable appropriations , from 2.5 to 3.5 percent and also approved an application for extraordinary state aid to be used for tax relief. Officials have not received any word as yet on state aid.
Among the city’s three departments, more than one-third of the budget goes for public safety costs. Administration and Finance, which also includes social services, accounts for about one-quarter and Public Works and Urban Development takes up about 11 percent.
The city gets 65 percent of its revenues from property taxes, about 16 percent from state aid, 5 percent from delinquent taxes and the balance from other sources.
--Bernice Paglia
posted by Bernice at 9:09 AM
<< Home