BUDGET - 2015

2015 Municipal Budget of the Borough of Milford, County of Hunterdon for the fiscal year 2015 Revenues and Appropriations Summaries

Anticipated

Summary of Revenues

2015

2014

1. Surplus

$ $ $ $

120,000.00 325,012.18 142,000.00 782,181.00

$ $ $ $

120,000.00 325,471.45 130,000.00 790,260.00

2. Total Miscellaneous Revenues 3. Receipts from Delinquent Taxes 4. a) Local Tax for Municipal Purposes b) Addition to Local District School Tax c) Minimum Library Tax

$

36,637.00

$

38,168.00

Total Amount to be Raised for Support of Municipal Budget

$ $

818,818.00 1,405,830.18

$ $

828,428.00 1,403,899.45

Total General Revenues

Summary of Appropriations

2015 Budget

Final 2014 Budget

1. Operating Expenses:

Salaries and Wages

$ $ $ $ $ $ $

176,591.00 801,957.18 162,385.00 86,000.00

$ $ $ $ $ $ $

159,063.00 850,454.45 155,668.00 76,000.00

Other Expenses

2. Deferred Charges & Other Appropriations

3. Capital Improvements

4. Debt Service (Included for School) 5. Reserve for Uncollected Taxes

-

7,560.00

178,897.00 1,405,830.18

155,154.00 1,403,899.45

Total General Appropriations

Total Number of Employees

5 F/T & 17 P/T

5 F/T & 17 P/T

2015 Dedicated Water Utility Budget

Summary of Revenues

2015

2014

1. Surplus

$ $ $

36,944.00 318,000.00 14,000.00

$ $ $

18,919.00 318,721.00 14,000.00

2. Rents

3. Fire Hydrant

4. Deficit (General Budget) Total Revenue

$

368,944.00

$

351,640.00

Summary of Appropriations

2015 Budget

Final 2014 Budget

1. Operating Expenses:

Salaries and Wages

$ $ $ $ $

90,000.00 108,000.00

$ $ $ $ $

88,000.00 108,000.00 15,000.00 130,405.00 10,235.00

Other Expenses

2. Capital Improvements

-

3. Debt Service

160,709.00 10,235.00

4. Deferred Charges & Other Appropriations

5. Surplus (General Budget)

Total General Appropriations

$

368,944.00

$

351,640.00

2015 Dedicated Sewer Utility Budget

Summary of Revenues

2015

2014

1. Surplus

$ $ $ $ $ $ $ $ $ $ $ $

73,662.00 350,000.94 303,060.00 999,737.06 1,726,460.00 125,940.00 281,000.00 50,000.00 256,120.00 1,013,400.00

$ $ $ $ $ $ $ $ $ $ $ $

222,058.00 333,000.00 304,510.00

2. Rents

3. Miscellaneous Rents

4. Miscellaneous

500.00

Total Revenue

860,068.00

Summary of Appropriations

2015 Budget

Final 2014 Budget

1. Operating Expenses:

Salaries and Wages

115,800.00 270,500.00 200,000.00 261,128.00 12,640.00

Other Expenses

2. Capital Improvements

3. Debt Service

4. Deferred Charges & Other Appropriations

5. Surplus (General Budget)

-

-

Total General Appropriations

1,726,460.00

860,068.00

Balance of Outstanding Debt

General

Water Utility

Utility - Sewer

Interest

N/A

$ $ $

539,070.71 824,631.59 1,363,702.30

$ $ $

2,911,581.77 4,534,865.13 7,446,446.90

Principal

Outstanding

$

-

Notice is hereby given that the budget and tax resolution was approved by the Mayor and Council of the Borough of Milford, County of Hunterdon, on April 6, 2015.

A hearing on the budget and tax resolution will be held at the Milford Fire Company Building on May 4 ,2015 at 7:00 o'clock p.m. at which time and place objections to the Budget and Tax Resolutions for the year 2015 may be presented by taxpayers or other interested persons. Copies of the budget are available in the Office of the Clerk, Karen Dysart at the Municipal Building Water Street, Milford, New Jersey, (908) 995-4323 during the hours of 9:00 a.m. to 4:30 p.m.

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