VERNON TOWNSHIP, NJ - The 2013 proposed Capital Budget was presented by mayor Victor Marotta at the recent township council meeting.
The 2013 proposed budget was shown to the public and members of the council via a presentation on a projector with charts and graphs put together by Marotta and township adminstrator, Gerald Giaimis.
The proposed budget is $22,651,175, which was explained in further detail.
The Township of Vernon 2013 Revenues graph shows a fund balance of 4.16 percent, local revenue of 2.05 percent, state aid of 9.99 percent, construction code of 1.66 percent, shared services of 0.85 percent, grants of 0.10 percent, VMUA of 3.64 percent, other special items of 1.14 percent, receipts from delinquent taxes of 8.17 percent with an amount to be raised by taxation of 68.24 percent.
The Township of Vernon 2013 Appropriations graph shows VMUA of 3.40 percent, shared services of 0.85 percent, grants of 0.10 percent, capital involvement of 1.77 percent, debt service of 10.79 percent, bond sinking fund of 0.66 percent, deferred charges of 0.89 percent, uncollected tax of 10.51 percent and municipal purposes of 71.04 percent.
The analysis of revenue shows decreases in the following areas: -141,878.00 in grants (-85.73), -11,489.00 in other special items (-4.27 percent), -572,366 in VMUA (-40.98) and a negative -339,863.00 in amount to be raised by taxation (-2.15 percent). The fund balance was increased by $368,000.00 (64.00 percent), local revenue of 115,000.00 (32.83 percent), 61,000 in shared services (46.73 percent), 75,000.00 in construction code (25.00 percent), and $50,000.00 in delinquent taxes (2.78 percent).
The 2013 budget Appropriations shows a decrease of -$116,059.00 (-0.72 percent), -141,878.00 in grants (-85.73 percent), -94,338.00 in debt service (-3.72 percent), -208,400.00 in deferred charges (-50.83 percent), and -209,871.00 in uncollected tax (-8.10 percent). An increase in the VMUA of 26.80 percent, shared services of 46.73 percent, and a bond sinking fun of 100 percent.
The grants which were listed as 61,000 was clarified by Marotta who stated, “We will be picking up more grants through other resolutions.”
The total appropriations equaled -1.72 percent.
The decrease in total revenue and budget appropriations is shown as -$396,596.00.
The Township of Vernon 2013 Estimated Tax Rate showed a graph of the county at 19 percent, municipal at 2.2 percent, and school at 59 percent.
The proposed 2013 Capital Budget shows a decrease again for the second year in a row.
“Vernon residents will not see an increase in mortgage for the first time in as long as I can remember,” Marotta said. “A lot of people helped to achieve this and I hope citizens understand the hard work put into this.”
“We look at a second straight year in tax reduction,” said council president, Patrick Rizutto.
Bill Zucerkman, CFO stated, “After adoption of this budget, we will still have 9 million in change.”
Zukerman also stated that the public hearing date for the adoption of the 2013 municipal budget will be on April 8.
“I think it is an extraordinary day when Vernon Township can lower taxes,” councilman Brian Lynch told The Alternative Press. “We are one in four communities in the state that actually lowered taxes last year, and hopefully we will see that in other communities.”
The township council is also considering the development of the town center for passage at the next meeting on March 25.
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