Hillsborough Committee Adopts $804,952 Debt-Free Capital Ordinance

There will be no borrowing for routine capital purchases or               improvements for 2017, according to Hillsborough Deputy Mayor Gloria McCauley.

HiILLSBOROUGH, NJ - The Township Committee has adopted the 2017 Capital Ordinance for the routine capital purchases as part of the Township’s ‘no debt, pay as you go’ capital plan.

"As the Township maintains a watchful eye over finances, the standard of this Township              Committee remains and as such there will be no borrowing for routine capital purchases or               improvements for 2017,” said Deputy Mayor Gloria McCauley.

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“The $804,962.78 capital ordinance is based on the recommendations of the Capital Planning             Committee and is for those items recommended as high in priority by the Capital Planning               Committee,” added Committeeman Greg Burchette, liaison to the Capital Planning Committee.

"As we continue to operate under the guides of the ‘pay as you go’ plan, it proves as a savings to our taxpayers by not incurring interest expenses in future years through bonding for these purchases,” added  McCauley.

The items included in the plan are related to public safety, vehicle replacements and network infrastructure. 

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