Budget shows no increase for 2007
Borough manager Vance Oakes presented Council with a balanced budget for the 2007 fiscal year. The $3.61 million budget marked the 25th year without a tax increase.
“I’m proud to announce the current millage rate of four mills will remain the same for 2007,” said Oakes.
The last increase was a 3-mil hike in 1981 to cover the costs of the then-new police and fire station.
“There were a lot of people involved in the preparation of this budget,” said Oakes. “Everyone put in a great deal of consideration and hard work to keep it balanced.”
“We’re quite pleased with Vance’s efforts,” said council president George Pokrant. “He continued the work that residents have come to expect. The department heads and council members should also be commended for their efforts. We didn’t want a tax hike to ever be on the table.”
“Vance has done a great job of completing the budgeting process and managing our fiscal responsibilities for the first time,” said finance committee chair Beth Cooney. “I believe he will continue to be an asset to the borough and the council.”
During the budget process, the borough manager works with the department heads to create a first draft version of the budget based on projected operating needs. The borough council finance committee and long-range planning committee then gives input on the spending plan along with recommendations on major capital improvements. The borough manager incorporates those recommendations and presents a second draft of the budget to the finance committee for review and changes.
According to an estimate from the Mercer County Assessment office, the total assessed value of all taxable property in the borough for 2007 will be $48,283,850—up less than 1% from 2005.