BRIDGEWATER, NJ - The Bridgewater Township Council introduced its 2015 budget totaling $40,223,092, with no tax increases.
“Always nice to introduce a 0 percent tax increase budget,” township administrator James Naples said. “There is no increase in the tax levy and there is a decrease in spending.”
The 2015 budget shows a slight decrease in spending from 2014’s budget, which totaled $41,689,479.
The council also introduced the cap bank ordinance, which allows the township to increase the budget by 1.5 percent over the state allowed 2 percent cap.
“We are not exceeding any expenditures, it is merely taking expenditures we are not using and banking them in the event we use them in future years,” Naples said.
According to Naples, the money in the cap bank will total about $1 million if the ordinance is approved.
Copies of the budget will be available to the public at no charge.
The public hearing for the cap bank ordinance will be March 16 at the municipal building in Bridgewater at 7:30 p.m.
The public hearing for the budget will take place April 6 at the municipal building in Bridgewater at 7:30 p.m.