SOUTH RIVER – The South River Borough Council has adopted a $38.71 million municipal budget that will provide funding for the operations of the municipality.
This year’s total budget amount is $38,705,324, which is a $1.99 million increase from the 2018 budget amount of $36,719,163, according to Borough Administrator Arthur Londensky.
Council members adopted the budget during a meeting on May 13.
Londensky said the tax levy to be paid by the borough’s residential and commercial property owners will be $10.02 million, which is a $448,500 increase from the 2018 tax levy of $9.57 million.
The municipal tax rate is $2.44 per $100 of assessed valuation, which is an 11-cent increase from the 2018 municipal tax rate of $2.33 per $100 of assessed valuation, according to Londensky.
He said the averaged assessed home value for 2019 is $82,288, which is a $300 increase from the 2018 averaged assessed home value of $81,988.
Londensky said $1.34 million from surplus funds (savings) is being used as revenue in the 2019 budget, which is a $74,737 decrease from the amount used in 2018. South River will receive $825,291 in state aid for 2019, according to Londensky.
“Increases impacting the current budget relate to pension costs, sewer treatment costs and debt service,” he said.
Londensky said any new employees hired are replacements and no one is retiring and not being replaced. None of the borough’s departments are being eliminated or consolidated.
This year’s capital projects include road improvements, park improvements, sewer and drainage improvements, computer upgrades, improvements to Main Street, purchasing a sanitation truck, purchasing a backhoe and purchasing an electric bucket truck.
For more information, visit www.southrivernj.org/agendas/council/.
Contact Vashti Harris at firstname.lastname@example.org.