LITTLE FALLS, NJ - Mayor James Damiano presented an overview of the 2020 municipal budget during the Township Council meeting on March 23, which features no tax increase to the municipal portion of taxes.
Damiano touted the Township's strong financial position and the recent upgrade to a AA bond rating the Township received this past year from Standard & Poor's.
"We are in a strong financial condition," added Damiano. "Not only is this something the entire administration has worked to achieve but the credit rating companies have independently recognized our efforts with a AA investment grade rating."
The total operating budget stands at $20,246,995 for this year. The municipal tax under this proposed spending plan will cost the average taxpayer $2,692 for a home assessed at $310,235, with the total tax including the schools and county estimated at $9,989.
"Effectively, there is no tax increase on the local portion of the taxes here in Little Falls in 2020 over 2019," Damiano said.
The budget utilizes an anticipated surplus of $1,950,000 for this year, leaving $876,215 remaining in surplus, more than any other time in the Township's recent history. Some changes to administrative positions entail moving a part-time administrative clerk to full-time administrative clerk in the Township clerk’s office. Also, a part-time administrative clerk is being added to the finance office and a fill-in senior bus driver will be added to accommodate the needs of local seniors. A new Clean Communities coordinator has also been appointed. The vehicle acquisition program for the police department continues with the purchase of two new police cars this year.
Damiano credited the Township Council for their support and input into the budget process.