FANWOOD, NJ -- Fanwood this week distributed its annual Citizens Report on the borough’s economic health and plans for the future.

"We are proud to be the first municipality in New Jersey to prepare a report of this kind for its residents. It updates the community with the progress of the borough," said Fanwood Mayor Colleen Mahr.  "It provides a look at our finances, our progress in key initiatives, and what to look for in the coming year."

Citizens Report provides a breakdown of the borough's operating expenses. including what it pays for the services such as police, parks and recreation, planning and economic development, general administration and any other activities. 

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"Residents might be surprised to learn that municipal spending comprises just 21 percent of their entire property tax bills," Mahr explained. "County taxes account for 19 percent and school taxes are 60 percent of residents' property tax bills."

Fanwood's total revenues and expenditures for 2013 amounted to $9.21 million; the figure increased slightly in 2014 to $9.64 million.

The Association of Government Accountants (AGA) developed guidance on producing Citizen Centric Reporting as a method to demonstrate accountability to residents.