The Shamong Township Committee finally passed the 2015 municipal budget at it’s last meeting.
This year’s budget, totaling $2.75 million, saw an increase of nearly $153,000 from 2014. There was an increase in salaries and wages of $19,866 and a decrease in capital improvements of $48,000.
The anticipated revenue for the township is $2.3 million, leaving $426,045.61 to be raised by local taxation. This will mean an increased tax rate of 1.6 cents per $100 of assessed valuation, resulting in an annual municipal tax increase for residents of $50 on a house assessed at the township average of $308,000.
The reserve for uncollected taxes totaled $361,553.06. The balance of the township’s outstanding debt is $349,556.60, reflecting a principal of $312,621.78 with interest of $36,934.82.
At the committee’s previous meeting, the budget was not approved in its entirety because of one modification that was made.
“We passed the budget. We were just waiting on one more small approval,” Deputy Mayor Sean Gray said.
This modification entailed the township adding $75,000 due to a shared service agreement with Southampton building code office and also adding $196,000 for the Jersey DOT grant to pave Forked neck Road from Willow Grove to Route 206.
The next township committee meeting will be held on June 9 due to elections.
