0:05One notable issues discussed during the meeting was the township’s budget increase of approximately $2.1 million, bringing the total completed appropriations to $64,788,056. This increase is expected to result in an average property tax hike of $132 per household. The Finance Commissioner expressed concern over the township’s financial outlook, particularly given the elimination of municipal relief aid in the state budget, which removed $547,000 from the current budget plans.

29:34Further complicating matters, a notable rise in sewer utility costs, from approximately $4.2 million to nearly $4.7 million, was highlighted. This increase of about $500,000 is attributed to the new consumption-based billing system, where property owners are charged based on actual usage rather than property value. There was significant concern over a proposed billion-dollar project by the SE Valley sewer authority, which could further inflate costs for all 48 municipalities involved. One participant underscored the urgency of advocating against such increases, warning of the potential financial strain on residents if the project’s costs are passed on.

16:04The meeting also addressed the potential for cap exceptions related to three Payment In Lieu Of Taxes (PILOT) agreements, which could offer some budgetary relief. While the relevant authorities have been contacted and seem to understand the situation, formal approval for these exceptions has not yet been secured. The Finance Commissioner noted that prior good planning had previously kept the municipality from hitting the statutory budget cap, but this year was anticipated to be different.

0:05The discussion on the school district’s financial commitment was another focal point, with ongoing negotiations regarding a potential $300,000 adjustment from their budget for school crossing guards. If secured, this adjustment could lower the projected tax increase from $132 to potentially below $100. The Finance Commissioner highlighted the need for finding additional revenue streams to mitigate the loss of state aid and reduce taxpayer burden.

16:04Insurance and employee benefits were topics as well, with the parks department reporting a budget increase of about $120,000 over the previous year. The rising costs of insurance, particularly a 4% increase from the Group Insurance Fund and a 177% spike in group insurance premiums, posed a considerable challenge. The total cost for fully loaded employees, including taxes, unemployment, pension, and healthcare, was estimated at around $125,000. There was concern over the sustainability of hiring practices amid these rising expenses, especially in public safety, where vacancies due to retirements have not been filled.

The board stressed the importance of balancing employee benefits with taxpayer considerations while maintaining essential services and remaining competitive in attracting qualified personnel. There was a call for broader discussions at higher levels of government to address these financial pressures, particularly those stemming from state-level decisions impacting local budgets.

29:34The board also discussed capital requirements, emphasizing the need for timely submissions to facilitate budget preparations and ordinance introductions. Maintaining a good bond rating was deemed critical, with aspirations to upgrade from a double A to a triple A rating. Factors influencing the bond rating include community income levels and the management of unfunded obligations, though the municipality prides itself on having no unfunded liabilities due to diligent yearly payments.