2012 Municipal Budget Process Underway

The 2012 municipal budget is currently underway according to members of the financial committee who are in the process of working to get it prepared to be introduced in March.

Councilwoman Pamela Link, who serves as the finance commissioner, reported Tuesday that the date for introduction of the budget has been extended from Feb. 10 to March 9 in order to accommodate the governor’s budget address which will be presented on Feb. 21.

Last year, Governor Christie announced during his which for Hasbrouck Heights amounted to $100,000. The previous year the borough lost more than $250,000 due to state aid cuts.

Link said the annual debt statement had been completed by chief financial officer Mike Kronyak. Annual debt for 2011 amounted to $8,872,188, a reduction of $308,600 from the 2010 debt amount of $9,180,718. Link pointed out that the borough is far below the amount of debt allowed which would be 3.5 and the borough’s debt amounts to .48 percent.

She also said Kronyak is currently working to complete the annual financial statement which is due by Feb. 10.

In 2011, borough officials cut three staff members from the payroll and reduced departmental budgets in order to bring the .

In response to a record number of tax appeals and foreclosures, the borough also conducted a property reassessment in 2011 as a way of ensuring properties were valued fairly with the current market. As numbers are still being finalzied from the reassessement process the