Leading the budget presentation, Town Administrator Jim Gildea and Finance Committee Chair Linda Habgood outlined the 2023 budget performance and provided insights into the 2024 budget. The 2023 budget saw a tax levy of $31 million as part of the $186 million allocation, with an additional $20 million in other revenues. Notably, Westfield achieved a historic year-end surplus of $15.4 million, the highest in the town’s history. This financial milestone was attributed to diligent budget management, successful negotiations, and revenue-generating initiatives such as a new 30-year contract with Westfield Senior House, which delivered an unexpected $3.6 million lump sum.

Mayor Shelley Brindle expressed satisfaction with the town’s financial health, including the maintenance of Westfield’s AAA bond rating and the ability to navigate the challenges of the COVID-19 pandemic. Brindle commended the building department for its contribution to increased permit revenue and higher property values due to the town’s popularity for home renovations. The council also celebrated generating over $710,000 in interest on investments, aided by a favorable interest rate market.

A considerable part of the meeting was dedicated to discussing the management of the surplus and its future allocation. Gildea and Habgood emphasized the importance of this surplus as a financial safeguard and a means to fund revenue-generating projects. The council explained that a healthy surplus allows for flexibility in addressing both expected and unexpected expenses and investments, such as road paving and park improvements. They also highlighted the town’s goal to maintain approximately $9.5 to $10 million as a financial nest egg.

The council members discussed the separation of capital projects from the annual operating budget, clarifying that while the surplus does not directly fund such projects, it can offset debt service for authorized capital projects. They stressed the uniqueness of each budget and the need to tailor surplus use to the town’s specific needs each year.

Addressing long-term planning, the council outlined its focus on departmental budget presentations and the management of increasing costs. Capital projects discussed included recreation and park enhancements, public safety upgrades, and technology improvements. The council noted that nearly 85% of town roads are expected to be paved by 2026, with the help of utilities.

The potential impact of the school board budget was also discussed, with the council clarifying the division of responsibilities – the town council manages 16% of the tax bill, with the remaining overseen by the school board, library, and county. The council underscored collaborative efforts with the school board to explore cost-sharing opportunities, emphasizing their good working relationship.

Another topic was the anticipated pilot revenue from the Westfield Crossing project, set to contribute to the town’s finances over the next 30 years. The council discussed the flexibility this revenue offers, including its use for debt service and other budget items, and addressed the public’s concerns regarding tax stability.

The council also touched upon Union County’s master plan for parks and the potential development of newly found acreage in Tamaques. They noted that Union County had conducted an analysis of the acreage, with plans for a committee to look at a design plan for Tamaques based on the 2019 master plan.

Furthermore, the meeting provided a platform for addressing public inquiries and encouraging community engagement in the budget process. The council took the opportunity to explain the thoroughness of their budgeting, the prioritization of projects, and the importance of community input.

In closing, the council discussed the construction of a new firehouse, unrelated to nearby developments, and the allocation of funds for studying traffic impacts, with a request for a cumulative impact study to be included in the 2024 budget discussions.