14:53The council detailed the proposed municipal budget, highlighting a total expenditure of $69,323,835. Revenues are projected to include $5,814,114 from miscellaneous sources, $6,347,930 in state aid, and $2,235,000 from construction and code enforcement fees. To balance the budget, it was noted that $13 million from the fund balance would be necessary, leaving approximately $5.96 million as a reserve for emergencies. The proposed municipal tax rate is estimated at 1.030, reflecting a $27 increase for an average home assessed at $157,373. The library tax rate was discussed as well, with a proposed increase to 0.108, leading to a $16 increase for the average home. The combined municipal and library budget results in a total tax rate of 1.138, amounting to an overall tax increase of $43 for the average assessed home.

20:09The council also discussed the need for transparency in financial management, emphasizing the importance of being responsible stewards of taxpayer money. Increases in operational expenses were attributed to rising health insurance costs and a new recycling contract. The debt service category increased by $133,725 due to bond amortization, while statutory expenditures rose due to rising police and firemen’s retirement system costs. The capital improvement fund remained steady at $280,000, with capital projects anticipated to total $6,180,000, focusing on infrastructure improvements.

01:10:39During the meeting, there was discussion about the capital budget for 2025, projected at $6.1 million. Notable projects include curbing replacements, drainage improvements, and enhancements to parks and recreational facilities. Equipment purchases, such as body-worn cameras for the police department and tools for public works, were also highlighted. The council noted efforts to secure funding through grants and external sources to support these initiatives, with the township maintaining a double A1 rating from Moody’s Investor Services, reflecting financial stability.

01:22:07Public comments during the meeting raised concerns about property management and the impact of ordinance amendments. A resident noted issues with a nearby lot owned by Slick Rick LLC, where excessive tree removal had occurred, urging the council to amend the tree ordinance to require proper restoration. Another resident highlighted the lack of park facilities in Ward 3, prompting discussions on potential land assessments for future development. The council acknowledged these concerns.

01:49:33The council also touched on community events and initiatives, with members expressing gratitude for recent awards and achievements within the township. There was recognition of the efforts by the Old Bridge Public Library staff, as well as commendations for local sports teams and community engagement activities. The council emphasized the importance of outdoor activities, particularly for children, and expressed support for law enforcement under the leadership of the new police chief.