BUDGET - 2017

2017 Municipal Budget of the Borough of Milford, County of Hunterdon for the fiscal year 2017 Revenues and Appropriations Summaries

Anticipated

Summary of Revenues

2017

2016

1. Surplus

$ $ $ $

155,800.00 350,922.00 71,660.00 801,946.00

$ $ $ $

155,801.00 327,060.00 110,000.00 787,239.00

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

$

38,822.00

$

39,143.00

Total Amount to be Raised for Support of Municipal Budget

$ $

840,768.00 1,419,150.00

$ $

826,382.00 1,419,243.00

Total General Revenues

Summary of Appropriations

2017 Budget

Final 2016 Budget

1. Operating Expenses:

Salaries and Wages

$ $ $ $ $ $ $

181,272.00 812,102.00 64,946.00 171,000.00 70,155.00 119,675.00 1,419,150.00

$ $ $ $ $ $ $

178,605.00 794,236.00 157,912.00 156,000.00

Other Expenses

2. Deferred Charges & Other Appropriations

3. Capital Improvements

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

-

132,490.00 1,419,243.00

Total General Appropriations

Total Number of Employees

5 F/T & 17 P/T

5 F/T & 17 P/T

2017 Dedicated Water Utility Budget

Summary of Revenues

2017

2016

1. Surplus

$ $ $

35,710.00 350,000.00 15,000.00

$ $ $

44,351.00 318,000.00 15,000.00

2. Rents

3. Fire Hydrant

4. Deficit (General Budget) Total Revenue

$

400,710.00

$

377,351.00

Summary of Appropriations

2017 Budget

Final 2016 Budget

1. Operating Expenses:

Salaries and Wages

$ $ $ $ $

107,100.00 109,500.00 20,000.00 149,210.00 14,900.00

$ $ $ $ $

102,229.00 108,000.00 15,000.00 140,797.00 11,325.00

Other Expenses

2. Capital Improvements

3. Debt Service

4. Deferred Charges & Other Appropriations

5. Surplus (General Budget)

Total General Appropriations

$

400,710.00

$

377,351.00

2017 Dedicated Sewer Utility Budget

Summary of Revenues

2017

2016

1. Surplus

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

71,785.00 340,000.00 303,440.00

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

81,090.50 350,000.00 303,516.50

2. Rents

3. Miscellaneous Rents

4. Miscellaneous

500.00

500.00

Total Revenue

715,725.00

735,107.00

Summary of Appropriations

2017 Budget

Final 2016 Budget

1. Operating Expenses:

Salaries and Wages

134,775.00 290,000.00 50,000.00 223,850.00 17,100.00

128,909.00 285,500.00 50,000.00 257,033.00 13,665.00

Other Expenses

2. Capital Improvements

3. Debt Service

4. Deferred Charges & Other Appropriations

5. Surplus (General Budget)

-

-

Total General Appropriations

715,725.00

735,107.00

Balance of Outstanding Debt

General

Water Utility

Utility - Sewer

USDA Loan Principal

$ $ $ $ $ $

1,298,333.79 789,209.79 132,816.00

$ $ $ $ $ $

4,389,970.72 2,642,709.01

USDA Interest

Bond Anticipation Note Principal Bond Anticipation Note Interest

$ $ $ $

610,000.00 9,150.00 94,021.05 713,171.05

20,000.00

1,992.24

300.00

Authorized but Not Issued Total Debt Outstanding

350,000.00 2,572,351.82

1,000,000.00 8,052,979.73

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 3, 2017.

A hearing on the budget and tax resolution will be held at the Milford Fire Company Building on May 1 ,2017 at 7:00 o'clock p.m. at which time and place objections to the Budget and Tax Resolutions for the year 2017 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.

Made with