Borough Manager Anne Klepfer presented the draft 2021 Budget as prepared by the Borough Finance Committee to Borough Council for Authorization to advertise. The budget, all funds totals $1, 165,685.00 and represents the smallest budget since 2016, indicative of a slow down in activity. Mrs. Klepfer explained that a perfect storm of a small tax base, lost revenue caused by the Pandemic and increased expenditures to make repairs from storm damage and to address stormwater management deficiencies has led to a budget that includes a 1.4 mill tax increase which will generate an additional $70,000.00 in tax revenues to compensate for decreases in Earned Income Tax, Building Permit Revenue, Cable Franchise Fees, Interest Earnings, Gas Tax and other revenues impacted by COVID-19.
Borough Council reluctantly approved advertising the budget and tax increase as presented. It will be the first Borough Tax Increase since 2017. They noted that while the federal and state governments offered pandemic relief funds to individuals and businesses, municipalities did not receive any aid. Due to the size of the Borough's tax base, the ability of the Borough to compensate for lost revenues is limited and the impact on residents is great.
The public is invited to review the budget documents and submit public comments or to give public comment at the December 10th, 2020 Zoom Meeting at 7 PM.
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