Moorestown Council Introduces $24.4 Million Budget

MOORESTOWN, NJ — Despite a nearly 2 percent increase in the proposed budget from last year, Moorestown residents can expect a slight decrease in taxes should the township’s 2017 budget be approved as introduced Monday night.

Moorestown Council introduced its proposed $24,350,000 budget during its meeting Monday night, June 12, at town hall. This represents an increase of $453,000 (1.90 percent) over last year’s budget, but due to an increase in ratables, taxpayers would see a tax rate decrease of 0.25 percent.

The owner of the average Moorestown home valued at $448,000 would pay $1,832 in total local purpose taxes, including both municipal and library taxes. The township’s Utility Budget is $11,085,000 this year.

Council also established the tax levy for the township’s Open Space, Recreation and Farmland and Historic Preservation Trust Fund Program, which was established and approved through a voter referendum in 1998.

It will remain at 1 cent for this year. There are plans for work, but Township Manager/Chief Financial Officer Tom Merchel said there was no reason to increase the budget until the township incurred the debt for that work.

The public hearing and final vote on the budget is scheduled for July 10.

Along with the introduction of the municipal budget came the annual proposed ordinance to exceed the municipal budget appropriation limits and establish a cap bank.

This year, the state says municipalities may only increase their budget by 0.5 percent, one year after that number was 0. The ordinance allows municipalities to increase that limit to 3.5 percent over the previous year’s final appropriations, and bank the difference for future budgets.

Although council approved 3.5 percent increase over last year’s final appropriations on introduction, Merchel said the township wouldn’t come anywhere near that cap amount.

“We are way below that, but we need to approve it in case we need it for the future,” Merchel said.

The public hearing and final vote on that proposal is set for the June 26 council meeting.

This is the first budget Merchel has assembled while filling the dual roles of manager and CFO. Merchel was named Township Manager on Jan. 23, about a week after council held a special meeting to accept former manager Scott Carew’s resignation.

Council members praised Merchel’s work Monday night. Deputy Mayor Stacey Jordan called it an “amazing budget,” and Councilwoman Victoria Napolitano said it was a “great budget process” this year.

“Tom got quite a lot done this year,” Councilman Mike Locatell said. “Tom, I’m glad you’re sitting in that chair.”

Patch file photo