Little Silver Introduces Municipal and Capital Budget

A proposed municipal budget was introduced at the Little Silver Borough Council meeting Monday, March 21.  

Although spending increased, it was kept under 1 percent, making it $97,050 (0.97 percent) higher than the municipal budget of 2010. 

This budget increases the 2011 municipal tax rate one penny per an assessed value of $100. This tax rate excludes county taxes, the school district, and regional high school district taxes. 

These taxes will be used for approximately $6.4 million of the $10.1 million spending plan.

A $125,000 increase in pension, $70,000 increase in the legal budget (due to a pending case), a $25,000 increase in fuel expenses, and a 15 percent raise in insurance are the cause for the tax increase, according to Borough Attorney John O. Bennett.

Due to retirements and no additions to the borough workforce, some salary and wage savings occurred, Bennett stipulated. 

The 2011 capital budget was also introduced at the meeting. The capital budget was lessened by $127,935 from last year, making it $348,995. $145,850 of the capital budget will be used for the 2011 road program. 

A public hearing and final vote on the capital and municipal budget will be held at 7 p.m. on Monday, April 18.