Municipal Budget Introduced, Modest Tax Increase Falls Below Cap

The governing body of the Borough of Fort Lee formally introduced its municipal budget for the year 2011 last week. The total anticipated amount to be raised by taxation is $57,609,950.92, and the total anticipated general appropriations for 2011 introduction is $67,681,823.15. As Mayor Mark Sokolich had perviously vowed, the municipal tax increase represents less than 1 percent.

Without getting into specifics, Sokolich called the budget the result a "collective effort" on the part of local government in finding creative cost-saving or cost-eliminating measures, or alternatively, income generating measures.

"I’m extremely proud of the budget that we’ve put forth for this borough," Sokolich said. "In this economic climate facing the cuts that we’ve faced. Our services remain intact. They remain as strong as they possibility can be. The quality of our lives have not been impacted. And it is a very strong budget. That especially considering the bond debt repayment program that we put into place where we’ve devoted funds to that initiative. It’s under the 1 percent that I had indicated at the state of the borough address. Our efforts now are beginning to manifest themselves in these budgets that we’re able to produce for our community.

At the previous week's work session, Borough Auditor Steve Wielkotz said the total proposed budget for 2011 represents a 1.52 percent increase in appropriation or “a little over a million dollars” and a tax levy increase of 0.89 percent.

“That’s $37.20 [per year] on the average residential unit assessed at $465,000,” Wielkotz said. “While some of the surrounding towns are going to be struggling, as you’ll read over the next couple of weeks with a 2 percent tax levy, this budget, as proposed, is over $2.5 million under the appropriation cap and a little over $2.9 million under the tax levy cap. You’re not going to have many municipalities that can stand up and say, well we’re raising municipal taxes $37 for the year."

A summary of the budget as introduced and adopted by the council Thursday is as follows:

Balance of Outstanding Debt

A public hearing on the budget and tax resolution will be held at Borough Hall, on March 10 at 8:00 p.m.

Copies of the complete budget, including specific breakdowns of revenues, expenditures and debt are available at the borough clerk's office in the Municipal Building.