Council revises budget
By ROBERT LINNEHAN
The Cherry Hill Sun
3/21/2010

Members of council approved a revised 2010 fiscal year budget at an active public meeting last week. If approved on second reading, the amended budget would allow for only a half-cent tax decrease for residents, township representatives reported.

The amendment was needed after revenues for the 2010 fiscal year came in lower than expected for several key areas of the budget, Township Controller Debbie Campbell said. The economy was mostly to blame for decreased revenues in the construction and planning board departments, being almost half of what they were last year, she said.

The construction department typically brings in some substantial funds for the township through licensing and permitting fees, she said, but because of the downturn in the economy many projects were put off. Campbell projected the construction department will bring in about $300,000 less than what was expected in revenue.

The township’s interest on investments is way down as well, Campbell said. The budget had to be adjusted for plummeting interest rates, she reported.

Because of the nearly $1 million shortfall in predicted revenues for the 2010 fiscal year and the $300,000 increase in the original $400,000 snow removal budget, the 3-cent decrease in the tax rate will likely be reduced to only a half-cent, she said.

“We have over a million dollars reduced in revenue. The reduction in revenue will have to be made up from the tax levy. There’s still a small decrease, but it’s only half a penny. At least it’s not an increase,” Campbell said. “It’s unfortunate, but the economy has our hands tied.”

She did not know how this would affect the tax bill for the average assessed home in the township.

The fiscal year budget was approved in June of 2009 and was sent to the state to be approved.

Members of council will cast their final votes on this amendment at the next township council meeting on Monday, March 22 at 7:30 p.m. at the township administration building.