2011 Budget Hearing Nov 10, 2010 7 PM

Please attend the Budget Hearings and see how we are spending your tax dollars:

The Preliminary Budget looks good. We should have $1 Million to $1.3 Million in Unrestricted Cash as of Jan 1, 2011 besides about $1.5 Million in other accounts. This is the best we have had in a number of years. Earned Income Tax(EIT) collection is about 10% ahead of projections. EIT is the single largest source of tax collections for the Borough.

We had short term borrowing of $1 Million in 2006, $700,000 in 2007 and we have not had to resort to any short term borrowing since 2008 because we have built up so much reserves.

2011 Budget calls for 3.7 Miles of Paving, which is excellent and in line with our long term goals. Paving being the largest expenditure in the Budget, it is very important.

Salaries and Benefits for Borough Employees top $4 Million in this $7 Million Budget. The Borough Council has agreed to ask the employees to contribute more towards their Benefits. We cannot continue to ask Taxpayers for more and more. A portion of the increased costs have to be borne by the Employees.