VERONA, NJ — Township manager Matthew Cavallo's municipal budget update at last week's Township Committee meeting revealed the areas in which Verona has fallen far short of projected revenue in 2020 thanks to the coronavirus crisis.
The township's property tax collection as a whole has not been affected by the COVID pandemic, Cavallo said. "Our property tax collections have been consistent and on budget and the township actually has a a slightly higher percentage as of Oct. 1 as opposed to Oct. 1, 2019," he told the committee.
The percentage of levy collected through the first nine months of 2020 was 73.47 percent compared to 73.23 percent for the same period of time in 2019.
The township has taken a hit in terms of miscellaneous revenue, however. Verona is seeing "significantly less revenue" in the areas of municipal court revenue, recreation and community center rentals and interest on investments, Cavallo said. Verona has collected only 34 percent of what was budgeted in municipal court revenue this year, and less than 13 percent in recreation and community center rental revenue.
Overall, Verona has collected about $230,000 less than it had through nine months in 2019 in miscellaneous revenue.
"However, with conservative budgeting, we are able to absorb a lot of these reductions," Cavallo said.
The township manager added that construction code permits actually are exceeding what was expected so far in 2020.
Costs related "specifically to the COVID pandemic totaled over $500,000," Cavallo said. To date, the township had received $497,986 in aid from the federal CARES act.