The council’s conversation frequently returned to the theme of transparency and education for the public on the components of the budget, especially regarding non-funded mandates and the implications of expenditure increases. The council emphasized conservative financial management and the importance of maintaining a healthy fund balance, while also grappling with the limitations imposed by state caps on levy and appropriations. The council approved an increase in anticipated interest earned on the cash management fund from $80,000 to $110,000, despite the volatile economic climate.

In terms of long-term financial planning, the council focused on the potential impact of debt on the budget in the coming years. The need for anticipating the budget impact of projects approved in 2021 that would require debt service payments was discussed, as well as the borough’s self-imposed debt policy to ensure sound financial decision-making. The council members highlighted the importance of steady budgeting to avoid sudden increases in debt and the application of conservative accounting policies to maintain fiscal stability.

Attention was given to the Historic Commission’s budget, which was kept flat at $4,750 for 2024, as they had not utilized their full allocation from the prior year, and any legal fees would be covered by the borough budget. The Borough Clerk’s budget and the Honors and Badges budget were also topics of discussion, with a focus on specific line items and the necessity for budget adjustments.

The council discussed the Finance Department’s budget, particularly addressing the conversion of a part-time position to full-time to address staffing challenges. They also reviewed overtime budgets and the rationale behind labor cost allocations. There was an examination of the shade tree budget, with questions raised about the requested amount for tree planting and whether it would cover all related expenses.

The debate on the necessity of increasing budgets for items such as membership dues and subscriptions, as well as the reasons behind the increase in wage costs for the construction enforcement section, was part of the wider discussion. The council members reviewed the Employee Assistance Program provided by Bergen County and noted increases in liability insurance and employee group health costs as factors driving the tax rate higher.

The council deliberated on utility costs, including telecommunications and landfill tipping fees, and the need to account for potential increases in these areas. They also touched upon emergency authorizations as a contingency measure for unforeseen financial needs and briefly discussed the implications of debt services on the budget.