Ho-Ho-Kus March 28, 2012 THE VILLADOM TIMES III • Page 9 Municipal-purpose budget to have zero tax impact by Jennifer Crusco The Ho-Ho-Kus Council has introduced a $7,913,116 budget for 2012 that features no change in the current tax for municipal purposes. The borough’s budget does not include taxes associated with the local school district or Bergen County. The council also introduced the two self-liquidating budgets associated with the borough’s utilities, including an $856,000 budget for the water utility and an $885,000 budget for the solid waste utility. Councilman Kevin Shea, who is chairman of the council’s Finance Committee, noted that the overall economic climate is improving, but many individuals are still struggling financially. He acknowledged the contributions of the borough’s volunteers, adding that their efforts help provide valuable services to the community while keeping costs down. Shea said the objective in preparing the budget was to keep taxes stable and to increase savings. “Our budget will do both,” he noted. Shea added that, for the first time in several years, surplus will increase. The budget indicates that the surplus in 2011 totaled $130,000, while the 2012 surplus is expected to reach $187,000. Ho-Ho-Kus Chief Financial Officer Joseph Citro added that, while other municipalities are using between five and 10 percent of their surplus to stabilize their budgets, Ho-Ho-Kus was able to use just over two percent of surplus. The 2012 spending plan includes $5,569,423 in appropriations that are within the cap, $2,123,693 in appropriations that are excluded from the cap, and a $220,000 reserve for uncollected taxes. Anticipated revenues have been budgeted at $1,311,612. Local revenues are expected to increase this year, and have been budgeted at $486,300, up from $418,244 in 2011. Sources of local revenues include $156,000 from the rental of municipal property, $96,000 from parking meter fees, $74,400 from municipal court fees, $58,000 from the cable franchise fee, $43,000 from interest and costs on taxes, $25,000 from interest on investments and deposits, $18,000 from Uniform Fire Safety Act fees, and $4,500 in liquor licenses. Court fees and interest on investments are expected to decrease this year, but increases are expected in several categories. Notable increases include an additional $18,700 in parking meter fees, an increase of $8,156 for the rental of municipal property, $6,600 in Uniform Fire Safety Act fees, and $58,000 in cable franchise fees, which were not part of the 2011 budget. State aid is also expected to increase to $295,884, up from $290,000 in 2011. Revenue from uniform construction code fees should increase from $103,000 last year to an anticipated $128,000 this year. The total amount to be raised by taxation is $6,601,505, which includes $6,182,271 for municipal purposes and $419,234 for the minimum library tax, which is required by law. In 2011, the total library appropriation was $459,333. The borough’s contribution to the library is determined by a formula based on the assessed valuation of borough properties. After the budget introduction, the borough’s CFO confirmed that the contribution to the library had decreased this year based on the results of the recent reassessment of borough properties. The borough’s capital budget totals $701,500, and includes $480,500 for new equipment for the department of public works, $100,000 for road resurfacing, $52,000 for police department equipment, $10,000 for planning and zoning board equipment, $15,000 for fire department equipment, and $44,000 for office of emergency management equipment. A public hearing on the municipal budget will be held at 8 p.m. on April 24. The session will be held in Ho-HoKus Borough Hall at 333 Warren Avenue.