1999 Budget

The six points increase in the municipal tax rate is almost entirely due to two factors, the 1.2 million dollar increase in salaries and wages and a $374,300 increase in the Township contribution to the State administered police and fire pension fund. A home assessed at $200,000 will pay $120 more in 1999 for municipal services.

Police and fire salary increases account for 78% of the total increase in salaries and wages. The only new full time position authorized is a custodian for overnight custodial care at the very active and newly expanded Richard Rodda Community Center. This expansion has enabled us to double the enrollment potential in the popular after school and child care programs, requiring additional part time employees, which accounts for $27,300 of the wage increase in 1999. Once enrollment reaches the new capacity of 200 for the after school program and 60 for the day nursery program, we estimate the additional annual cost for part time employees to be $54,600.

Other expenses are up $102,352 or just over 1 %. Two significant items account for that increase, group health insurance premiums and legal fees. The anticipated increase in the Bergen County Utility Authority fee was eliminated when the final bill was received. We will cancel that portion of the appropriation, which will not be needed, to fund balance, by resolution, before the end of 1999. This will hopefully provide that budget operations will return at least $1,865,000 back to fund balance by the end of 1999 for use in the year 2000 budget.

Capital Improvements planned for 1999 are shown in Schedule D. Another half million dollar resurfacing program has been included in our continuing effort to recover from the devastating winters of 1994 and 1996. The Argonne Park baseball field upgrade continues our plan to upgrade all baseball fields over the next few years. The Votee Park appropriation supplements an existing ordinance to renovate the 90 feet field. Our Architect will design this field for dual use by the Junior Football and baseball programs. Construction is planned for the year 2000 and will result in temporary inconvenience to organizations using that field. Funds have been provided for the Township share of the redesigning of Cedar Lane if current grant and no interest loan applications are awarded. Should they not be awarded, these funds will be used to redesign the old Police Headquarters Building to a Justice Center and for renovation of Fire Headquarters. Other projects include purchase of equipment for the Police, Fire and Public Works Departments and Myron Court drainage improvements. In addition, funds have been provided for a lighting upgrade to the Library reference room.

The four million dollar loan for the Richard Rodda Community Center addition was refinanced in 1998 at 3.75%, a reduction from the previous interest rate of 3.93%. This accounts for most of the reduction in debt service.

Our annual contribution to the State administered police and fire retirement system increased by $294,558, from $1,323,508 to $1,618,066. Increases in the annual contribution for the 1994 police and fire early retirement incentive program and Social Security costs account for most of the balance of the increase in the Deferred and Statutory portion of the municipal budget.

The Township will no longer accept a County grant of $42,032 for our Senior Citizen programs, since we could not give priority enrollment to Teaneck residents. Starting in 1999, residents will receive preference over nonresidents when enrolling for programs offered and nonresidents will pay a higher fee. Despite that elimination, we are anticipating the same total amount of revenues for 1999 as in 1998. Our application for discretionary Municipal Aid was again rejected by the Department of Community Affairs. Very frankly, this rejection was expected since decisions appear to be made in the interest of bailing out municipalities with poor financial track records.

The long awaited construction of a new public works building should begin in 1999. Funding has already been provided for this four million dollar project which has been awaiting approval from the New Jersey Department of Environmental Protection since the summer of 1998. This is the final step in an upgrade plan which included the new Police Headquarters and the award winning addition to the Richard Rodda Community center. Additional upgrading or replacement of our remaining public buildings will be needed in the new millennium. Teaneck has the bonding capability to meet the challenge for funding these improvements.

Please do not hesitate to call me or stop to see me at the Municipal Building if you need further explanation regarding the 1999 Municipal Budget.

SCHEDULE	APPROPRIATIONS	1999	1998	INCREASE OR (DECREASE)
	Budget Expenditures
A	Salaries and Wages	$21,149,230	$19,941,004	$1,208,226
B	Other Expenses	9,802,352	9,700,000	102,352
D	Capital Improvement	449,000	449,000	0
	Debt Service	232,688	240,900	(8,212)
C	Deferred and Statutory	4,093,100	3,718,800	374,300
	Total Budget Expenditures	$35,726,370	$34,049,704	$1,676,666
	Non-Budget Expenditures
	Reserve for Uncollected Taxes	2,430,630	2,316,296	114,334
	TOTAL APPROPRIATIONS	$38,157,000	$36,366,000	$1,791,000

SCHEDULE	REVENUES	1999	1998	INCREASE OR (DECREASE)
	Fund Balance	$1,865,000	$1,865,000	$0
E	Local Revenues	1,971,418	1,909,000	64,418
E	State Aid	4,075,895	4,043,140	32,755
E	Grants	260.843	356,016	(95,173)
	Delinquent Taxes	1,340,000	1,340,000	0
	TOTAL REVENUES	$9,513,156	$9,513,156	($0)
	PROPERTY TAXES
	Municipal - Net	$28,643,844	$26,852,844	$1,791,000
	School	51,806,402	49,465,569	2,340,833
	County	6,563,834	6,822,122	(258,288)
	County - Open Space	128,560	0	128,560
	TOTAL PROPERTY TAXES	$87,142,640	$83,140,535	$4,002,105
	ASSESSED VALUATION	$2,571,210,314	$2,571,466,305	($255,991)
	TAX RATE
	Municipal	$1.115	$1.051	$0.064
	School	2.015	1.924	0.091
	County	0.255	0.265	(0.010)
	County - Open Space	0.005	0.000	0.005
	TOTAL TAX RATE	$3.390	$3.240	$0.150