FAIR LAWN, NJ – The Borough Council will conduct a municipal budget hearing tomorrow night, March 24, during a virtual public meeting aired on local television and live streamed on the Internet.
While it seems like forever-ago, the council introduced the $54.2 million 2020 Municipal Budget on February 25, when the coronavirus was just something happening in China.
Now that COVID-19 is here, most other events in our immediate purview have seemed far less significant.
Nonetheless, the business of life moves on and the Fair Lawn mayor and council are moving forward by holding their regularly scheduled public meeting tomorrow night at 7:30 p.m.--virtually. While the physical site of these meetings is closed, residents are invited to log in via the borough's website where a live stream link will be provided, or they can tune-in to Channel 77 or Channel 37, depending on their cable provider.
The proposed borough budget shows a 0% tax increase for the third year in a row.
Fair Lawn Borough Manager Jim Van Kruiningen previously said the municipal tax increase is 0% this year because it was offset by using additional surplus and reserves.
The borough's average assessed home is $332,371. The municipal tax rate on $100 of assessed value is $0.896, according to Van Kruiningen.
The anticipated amount of taxes to be raised in support of the budget is $38,112,865.
Spending has increased more than $3 million over 2019’s budget which totaled $51,203,171. Total anticipated expenditures for 2020 are $54,230,742.
The largest expenditure item listed in the budget is salaries and wages, $21.6 million, up $910,965 over 2019. There continues to be 164 full-time employees who work for the borough, same as 2019.
Along with the municipal budget is the 2020 Dedicated Water Utility Budget. Anticipated revenues are up from 2019’s $7,660,000, which includes $1.5 million in surplus, to 2020’s anticipated revenue of $7,939,810, of which $1,668,000 is surplus. Surplus in the water utility budget has increased $279,810 from 2019 to 2020.
Fair Lawn’s municipal debt in 2020 is $17.3 million. The water utility debt in 2020 is approximately $5 million.