Borough Finances Continue To Improve

Borough Finances continue to improve while we continue to maintain/increase services. We have paved 10.4 miles of roads in 2008-2010 time period, well in keeping with repaving every road in the Borough every 15 years. We hired two new employees in 2008, in preparation for one retirement this year. We have 12 full time Police Officers now and limited Part Time Officers. We are adding a LaCrosse Field next year at Linbrook Park. Note the improvements in our website also, including the fact that we post all monthly bills on the website thus letting everyone know how the tax dollars are being spent.
As of July 31, 2010 we have $3.91 million in various accounts (Unrestricted= $2.4 million, restricted = $.51 million, Escrow = $.34 million, Enterprise = $.66 million). Net of expenses vs. income in the balance of the year will result in year end balance in various accounts of $2.5 million to $3.0 million.
We had over $652,000 in Unrestricted Cash at the end of 2009. We will end up with $1,100,00 in Unrestricted Cash at the end of 2010 thus starting the new year in 2011 with a great cash position.