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Zimmer Administration Explains Public Process For Introduction Of 2010 Transition Year Budget




Hoboken, NJ - Wednesday, September 1st, 2010

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Mayor Dawn Zimmer will address the City Council Wednesday evening, September 1, 2010, to present the Transition Year 2010 budget.

A �yes� vote for the introduction of the budget by the City Council does not represent approval of the budget, but rather a willingness to accept the budget as a starting point to begin its work. After introduction of the budget, the City Council has the statutory responsibility to review, amend as needed, and ultimately adopt the budget.

Budget workshops are currently scheduled for Monday, September 13th and Wednesday, September 22nd from 6pm to 10pm. Directors and the Police and Fire Chiefs will be prepared to present their budgets and answer the Council�s questions. As they review the introduced budget, Council Members are asked to draft and email as many of their questions as possible to Business Administrator Arch Liston in advance so as to be as prepared as possible to answer detailed questions. The public is invited to observe these workshops either in person or online. The workshops will also be televised, and all documents presented to the Council will be made available on the City website, www.hobokennj.org.

As required by State law, the public hearing, at which the public will have the opportunity to voice their opinions on the budget, cannot occur until 28 days after the budget has been introduced. The public hearing and possible adoption of the budget is scheduled for Wednesday, September 29th at 7pm. Residents are invited to attend and offer their feedback on the budget during the public session.

The Zimmer Administration will fully cooperate with the Council as it completes its responsibility to review the introduced budget, revise as it deems necessary, and adopt a fully funded budget as expeditiously as possible.

�This is an honest, gimmick-free, fiscally responsible budget that is fully-funded and not reliant on one-shot revenues to pay operating expenses,� said Mayor Dawn Zimmer. �It will reduce municipal taxes by 5 percent this year � the maximum amount permitted in a Transition Year without State approval. But most importantly, it puts us on sound financial footing that — combined with further savings opportunities being developed — will enable us to reduce taxes further in 2011.�

The budget anticipates using $1.9 million of the $11.9 million cash surplus, reducing the surplus to approximately $10 million.

�We will not repeat the fiscally reckless and shortsighted mistakes of the past that led to a backbreaking tax increase,� added Mayor Zimmer. �Through the establishment of a responsible surplus, this budget prepares us for the rainy days ahead, ensures cash flow, helps improve our bond rating, and allows us to address our desperate infrastructure needs.�

The 2010 Transition Year Budget is available for download at: http://hobokennj.org/docs/businessadmin/Budget-TY-2010.pdf


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