July 12, 2018  Hawthorne Press
Prospect Park Municipal Budget To Raise Taxes $175.00 on Average Property

The Prospect Park Council introduced it's 2018 municipal budget on June 25. The $6,808,037 fiscal plan will raise taxes about $175 on the average property assessment ($211,712) and require all municipal employees to take five days furlough.
 The tax levy is $4,569,222 which reflects an increase of $218,222 over last year's taxable base of $4,351,000.
 Municipal Treasurer Steve Sanzari said the budget is within the state-mandated cap as well as the tax levy cap.
  Among the factors which raised spending were contractual obligations up $182,000, $70,000 more in pension costs, higher utility costs including PVSC and new software for the fire department.
  A public hearing on the 2018 budget is scheduled for Monday, July 23 at 6:30pm.
 All of the council members voted to introduce an ordinance to exceed the municipal budget appropriation linits and to establish a cap bank.
Another resolution authorizes a self-examination of the budget resolution. In this state monitoring process, Sanzari said he has to certify that all anticipated revenues are accurate.

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