Sussex adopts $1.3M budget

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  • PHoto by Vera Olinski Sussex Municipal Auditor Tom Ferry and CFO Elke Yetter present theh 2014 Sussex Borough budget on April 1.

Sussex borough budget

Total: $1,339,313
Tax Levy: $851,274
Tax rate change from 2013: .005 percent.

Sussex borough taxpayers will see a very slight increase in the budget adopted by the borough council on April 1.

The council approved a $1.3 million budget, which showed a tax rate increase of .005 percent.

During a budget presentation by Municipal Auditor Tom Ferry and Chief Financial Officer Elke Yetter, Ferry explained the budget is flat for residential taxpayers as their tax rate is about the same, even with the slight increase.

Ferry said this was possible because the residential assessed values went down between 2013 and 2014, and the amount to be raised by taxation went down by .35 percent.

Also, the borough’s expenses did not go up 2 percent between years 2013 and 2014, allowing the borough the flexibility to raise its budgeted expenses by 3.5 percent through a cap bank in the event of an emergency.

The cap bank ordinance was approved March 18.

However, tax payers must be aware of the taxes which the borough does not control.

Ferry used the analogy of a $1 bill: 60 percent of the estimated tax dollar goes to the regional schools, 17 percent to the County taxes & 22 percent to the borough’s expenses.

There also was a decrease in the 2014 Water/Sewer Budget by 5.05 percent.

Councilman Salvatore Lagattuta asked if the water debt and sewer debt could be separated.

Ferry said that to prorate the two separately would be difficult and time consuming.

Going forward, for new accounts, the state requires the water and sewage to be budgeted separately.

Councilwoman Linda Masson asked about keeping the water debt and sewer debt separated going forward.

Ferry implied that it would be possible.

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