River Edge Municipal Budget Calls for Lowest Increase in Three Years

For the first time in the past few years, River Edge taxpayers will see a tax hike that is under $100 as the borough introduced its 2013 municipal budget earlier this week.

The $14.4 million budget calls for an $11.9 million tax levy which will be broken down into a $77 increase for the average homeowner. In prior years, taxpayers were hit by a $234 increase in 2011 and then $140 in 2012 along with borough employees forced to take furlough days two years ago. The currently proposed 2013 budget does not include any furloughs for the second year.

"In terms of the budget, it's anti-climactic when it is approved," Councilman Alphonse Bartelloni said. "A lot goes into the budget and when we originally started we were looking at well over $1 million from last year's appropriations."

According to Bartelloni, borough departments had requested approximately $3 million in capital requests overall and the initial tax impact to residents would have been $341 for the average homeowners.

"We worked very hard to get that number down and the actual total increase is under the 2%," Bartelloni said. "Over the last couple years, to get the increase down to $77 from 2010 to this point while dealing with a lack of surplus and revenues and state aid remaining flat, I am proud of that."

Once again, River Edge was awarded a flat state aid amount of $1,070,715 for the third consecutive year.

Along with introducing the budget, the council Democrats with Mayor Sandy Moscaritolo breaking a tie, approved the first reading of a Cap Bank ordinance to exceed the 2% cap and go up to 3.5% based on the urging of Borough Administrator Alan Negreann.

The Cap Bank ordinance, which allows for an additional $352,526.65 to be include in the budget, still needs final approval later this month before it could be instituted.

River Edge approved a cap bank ordinance last year and currently has $400,000 sitting off to the side, which could be used for emergency funding.

"We as a council bipartisanly drafted a 2% budget and was advised that this is a financial policy for two years," Council Presdent Thomas Papaleo said. "This is insurance for future councils incase we have several retirements at the same time."

Council Republicans disagreed with the need for a 2013 Cap Bank ordinance with Councilman Anthony Cappola calling the move similar to taking out an extra credit card.

The budget's public hearing is scheduled for April 1, 8pm.

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