Ordinance 2531: The 2018 Capital Budget

Ordinance 2531: The 2018 Capital Budgetthumbnail
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Published: June 18, 2018 @ 6:00 AM EST

The governing body is set to vote on the 2018 capital budget at their June 21st meeting.

The $1,348,870 budget will have $728,000 (around 54%) coming from municipal taxes with the rest, $620,870 being paid for by grants. The $728,000 is not paid out all at once but, instead, over time like a mortgage with annual payments – called debt service – to be included into operating budgets starting next year. The first payment will be included as part of the debt service in the 2019 municipal operating budget.

A bond sale will be held at the end of the year to determine the rate of interest to be paid for this year’s capital projects. The duration of each bond is determined by its average period of usefulness. This year’s capital budget has an average of 11.14 years ranging from 9.86 years to 13.57 years.

The capital budget expenses were separated into three (3) major purchases: equipment, improvements to various borough property, and resurfacing of streets.

A breakdown of the purchases is included below:

Purpose
Estimated Cost
Amount of Bonds/Notes
Average Period of Usefulness
Purchase of equipment and capital items for various departments including but not limited to:

(a) signs, heavy duty side mounted flail mower, dump body and fuel security system for the Public Works Department;

(b) surveillance cameras for the Police Department;

(c) cellular solar powered message sign board and garage door openers for the Office of Emergency Management;

(d) Scott SCBA air bottles, turnout gear, webbing, ropes and pulleys, fire hose, rescue saw, force entry hooks, extinguishers and dry chemical for the Fire Department;

(e) archiving equipment for the Clerk’s Office and

(f) computer equipment and software for all Borough Departments.
$190,400
$168,000
9.86 years
Various improvements to Borough property including but not limited to:

- improvements to municipal buildings and grounds,

- sidewalk improvements,

- downtown marketing and zoning study and

- improvements to Aldene Park,

including all work and materials necessary therefor or incidental thereto, all as shown on and in accordance with the plans and specifications therefor on the file in the Office of the Clerk.
$175,470
$140,000
13.57 years
Resurfacing of various streets, including but not limited to:

West Clay Avenue from Faitoute Avenue to Girl Scout Park,

Madison Avenue from Galloping Hill Road to Magie Avenue,

including all work and materials necessary therefor or incidental thereto, all as shown on and in accordance with the plans and specifications therefor on the file in the Office of the Clerk.
$983,000
$420,000
10 years

The majority of the 2018 capital budget – almost ¾ – will go to pay for the resurfacing of two streets listed. The two streets scheduled to be resurfaced are West Clay Avenue (from Faitoute Avenue to Girl Scout Park) and Madison Avenue (from Galloping Hill Road to Magie Avenue). The remaining $365,870.00 will go to purchasing equipment and making various improvements to borough property.

By comparison, 58% of this year’s capital projects will be paid for by taxpayers with 23% paying for purchase of equipment and 19% going towards improvements to borough property.

The public hearing and vote by the governing body are set to be held during Thursday night’s 7 p.m. Mayor & Council meeting. It will take place at the Roselle Park Municipal Complex located at 110 East Westfield Avenue.

A copy of Ordinance 2531 is included below:


Download RP Ordinance 2531