Message from Mayor John L. Madden: Our Municipal Budget
Since taking office in November, 2019, I was faced with an unprecedented financial challenge which I inherited by my predecessor. Working with our Business Administrator, Acting CFO, auditor and accountant, we formulated a rather austere fiscal policy and subsequent budget that would be acceptable to all parties involved including our credit reporting agency, Standard and Poors Global. This was the big hurdle to convince them of our financially conservative plan of which they approved.
However, within the next few months we were facing another difficult unanticipated challenge - the devastating worldwide Pandemic. The net effect of this included a significant drop in all revenue streams for the Borough while all departments were shut down and working remotely. All our residents were left with this unavoidable scourge.
Turning It All Around
Our first step on the road of financial recovery was to quickly and severely cut discretionary expenses while only a small fraction of vital revenue was trickling in. Some timely Covid-19 relief also contributed to the slow rebound.
Important Highlights
Getting into the weeds of the approved budget there are some important highlights of which I would like to share:
Total budget increase amounted to approximately $75,000 over the previous year.
The amount of revenue that the Borough needs to raise via property taxes (the levy amount) is identical to last year.
Even with the pandemic, our Tax Collector continued bringing in tax revenue at an excellent collection rate of 98%.
Court revenue fell by 50 % due to the pandemic. The decrease was due to in a drop of traffic tickets and other violations. The State allowed a one-time averaging of the previous 3 years for that line item to “normalize” it.
A spike in construction projects brought in almost double the revenue that was anticipated. In addition, some larger construction projects are expected to generate higher revenue figures throughout 2021 into 2022.
The Budget includes replacing retiring staff in both the Police and Public Works Departments to maintain stable work force levels.
We were able to include some funding for Recreation, Seniors, Community Policing opportunities including the Fishing Derby, National Night Out, trips for Senior Citizens and some free or low-cost Recreational programs.
The Budget also includes an increase in funding for the Shade Tree Commission for tree maintenance.
Our surplus went from $325,000 in 2019 to approximately $925,000 in 2021.
Our town is on a fiscal rebound with a nearly completed redevelopment project. This project, a warehouse being built by Rockafeller Group, will soon bring in the equivalent of Net Present Value of approximately $450,000 per year for 30 years. Our second warehouse redevelopment project being built by Claremont, will be breaking ground this fall which, when completed will bring in an additional revenue stream of about Net Present Value of $400,000 for 30 years.
No Increase
The bottom line is that there will be NO increase in municipal property taxes to our residents in 2021. This is what I hope is the beginning of a trend that will last many years.
I hope this synopsis gives you a glimpse of what it takes and also the hard work involved to provide this successful budget. This process represents a true road to financial recovery although the hard work is not yet done. Please know that without the very difficult teamwork of our dedicated staff and professionals, this budget would not have been accomplished. Thank you all for making this budget possible.
Mayor John Madden
It’s Back! Coffee with Council
Join us at the Rec Center from 10:30am - Noon. Coffee with Council will be held the last Friday of each month beginning June 25.
Save the Date: September 11, Twentieth Year Remembrance Candlelight Memorial Service
Middlesex Borough will hold its annual September 11th Remembrance Ceremony on Saturday, September 11th at 7:00 pm in Victor Crowell Park at the Memorial. The public is invited to attend this ceremony to remember all those who lost their lives and all those who served on September 11, 2001.
Names of all Borough families and friends who know of any one in active Military service may submit their name, rank, branch of military and to where they are stationed (optional) to smpenrose@aol.com no later than September 1. These names will be announced during the ceremony. Candles will be provided by the Borough. If the event of rain, the ceremony will be moved to either the High School or rescheduled for Sunday, September 12th, 7:pm, at Victor Crowell Park
PLEASE NOTE: the ceremony will have to comply to whatever the current phase of dealing with the Coronavirus and the restrictions that are, or may be, imposed by the Governor at the time of this event. That information will NOT come from the Committee but through the town and local News.