Passaic County News

Officials Say Recently Passed County Budget Built on 'Fiscally Sound Policies'

9a10b7cb11452490ac62_Freeholder_Lepore.jpg
Freeholder Budget Committee Chairman Pat Lepore said that during his tenure, the board has "implemented new financial policies to protect taxpayers, and continued to make strategic investments." Credits: County of Passaic
9a10b7cb11452490ac62_Freeholder_Lepore.jpg

PATERSON, NJ – Saying it reflects “fiscally sound policies, strong budgetary flexibility, proactive increases to manage volatile expense line items, including significant reserves for workers’ compensation, health benefits, and liability insurance, and an overall net debt of 1% of market value,” the Passaic County Board of Chosen Freeholders adopted the 2018 budget on March 14.

While the overall budget comes with a tax increase of just under 2 percent, it also, according to a statement released following its adoption, was developed with conservative revenue projections, improved reserve levels, and significant investment in infrastructure improvements. The 2017 budget that this one will replace included no tax increase.

“Every year the Passaic County Board of Chosen Freeholders continue to set the standard for conservative budgetary practices that not only keep taxes stable, but invest in infrastructure improvements, significant upgrades to the Passaic County Park System, and the continued expansion of educational opportunities offered by the Passaic County Technical Institute and Passaic County Community College,” stated Passaic County Freeholder Director Cassandra “Sandi” Lazzara. “The 2018 Passaic County budget protects taxpayers from unforeseen financial emergencies with increased reserve levels for workers’ compensation, health benefits, and liability insurance, putting the county in strong financial position as we continue to grow our economy and invest in our rich history and bright future.”

Sign Up for E-News

Passaic County recently won praise from Moody’s Financial Services with an upgraded bond rating citing evidence of a “large growing tax base” and “conservative budgeting.” The Freeholder Board at the time said that the credit upgraded was important because it showed that an “independent third party and subject matter expert agrees that county lawmakers are managing the budget in a responsible way.”

Earlier this year Freeholders T.J. Best and Assad Ahkter told TAPinto Paterson that the upgrade was “another benefit to the City of Paterson when it comes to future development” because it allows the county to borrow money at better rates than the City of Paterson can, thereby giving local taxpayers a “better deal.” Examples of this, Best said at the time, include the financing of the recently constructed parking garage at St. Joseph’s Health and local road resurfacing efforts.

Included for funding in the budget, the statement read, is the maintenance, repairing, or repavement of 533 lane miles of county roads and 350 bridges and culverts; the expansion of the Passaic County Park System; and the addition of a STEM Academy that will offer Passaic County students new educational opportunities in science, technology, engineering and mathematics, training our children for the 21st century economy.

TAP Into Another Town's News:

You May Also Be Interested In

Sign Up for E-News

Passaic Valley

Upcoming Events

Mon, July 16, 1:00 PM

Alfred Baumann Library, Woodland Park

How to Rid Your Home of Toxins

Health & Wellness Home & Garden

Tue, July 17, 6:30 PM

Alfred Baumann Library, Woodland Park

Sing-a-long with Mr. Roger

Arts & Entertainment Education

Carousel_image_7611ce284a8c86d65b64_37d34f9a-c5cd-4fb1-8bf8-b5b7319cb94e

Wed, July 18, 10:00 AM

Paterson Board of Education , Paterson

Teacher Job Fair

Education

Tue, July 24, 9:15 AM

Totowa Public Library, Totowa

Atlantic City bus trip

Arts & Entertainment

Bringing Affordable Housing to New Jersey

July 10, 2018

It is no secret that the cost of living in New Jersey is among the highest in the nation. Coupled with a severe shortage of affordable housing, many of our residents struggle every day to make ends meet. The state would have to provide at least 155,000 new units of affordable housing by 2025 to meet the need for more housing.

Municipalities have not received guidance on how to create and ...

Kessler Foundation Seeks Volunteers for Important Breast Cancer Study

July 13, 2018

Researchers at Kessler Foundation in West Orange are studying new ways of combating breast cancer-related weakness and fatigue. These symptoms can diminish quality of life and often last long after treatment has ended. If you are a woman aged 40-75, who was diagnosed with breast cancer within the past 10 years*, you may qualify for this important research study.

Researchers are examining ...