The municipality completed it capital budget with a final workshop on May 27th.
The second portion of the municipality’s budget process – the first being the General Operating Budget – deals with long-term projects or purchases that allow for depreciation and can be paid off over a period of years as opposed to all in one calendar year, as is done with General Operating Budget items. Finance Chair and First Ward Councilman Andrew Casais stated that he originally wanted to keep the capital budget around $800,000 but quickly realized that improvements needed to the borough were going to supersede that amount. He stated at the workshop, “Right away it was just not a foreseeable goal to reach.”
A breakdown of capital purchases and allotments for 2014 are described below:
| First Aid Squad | $175,000 |
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| Fire Department | $100,000 |
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| Police Department | $50,000 |
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| Public Works | $160,000 |
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| Borough Clerk's Office | $5,000 |
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| Building And Grounds | $220,000 |
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| COAH Obligations | $200,000 |
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| Engineering | $855,000 |
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TOTAL | $1,765,000 |
The Roselle Park Fire Department originally requested $112,000 but were provided with $100,000 for them to choose what equipment was a priority to purchase this year.
The Casano Community Center was in need of a generator and was allotted $100,000 for one. $20,000 was budgeted for the purchase of trees this year while sidewalks have been assigned $50,000. The library has been provided with $10,000 to purchase sprinklers and improve the front lawn as well as to take down the one of the trees in the front of the building and another $15,000 for the purchase of automatic ADA (Americans with Disabilities Act) compliant doors for both the exterior and interior.
The $200,000 payment to meet COAH (Council on Affordable Housing) obligations is tied to an agreement the municipality has with the state to have AvalonBay drop a Builder’s Remedy Lawsuit in 2009. This is the third of five $200,000 payments to be put into a fund to address rehabilitation units throughout the borough.
The total debt issued from the municipality is $1.3 million after removing $465,000 in grants and capital surplus. This increase to the taxpayers is $80,000 less than the $1,380,000 that the municipality will pay in 2014 toward its outstanding bond principal.
Mayor Joseph Accardi wanted to confirm that the municipality bonding around $1.3 million a year would not cause problems in the future. Chief Financial Officer (CFO) Ken Blum responded, “As long as you’re issuing less, or authorizing less than you’re paying out, that’s a positive.”
The first reading of the Capital Budget Ordinance will be held on June 5th with the second reading and vote on June 19th.