April 11, 2005

NEWS RELEASE

For further information, please contact Stephen Mountain or Heather Webster at 543-4555

Mendham Township Introduces 2005 Budget

The Mendham Township Committee introduced the Township’s 2005 budget at its meeting on April 11.  The 2005 budget totals $7,909,222.60.   The budget calls for an average increase of $354 in municipal taxes (on an average assessed value of $1,012,875), raising the typical municipal tax bill to $2,365.  The proposed tax increase would be Mendham Township ’s second increase in municipal taxes in eight years.

The 2005 budget maintains Mendham Township ’s traditional high level of services.  The proposed budget also provides a responsible level of funding for the Township’s future capital needs and as well as funding for operating increases in a number of major expenditure areas, including utility, pension, and insurance costs.

Mayor Richard Krieg stated, “The increases in non-discretionary costs combined with the financial planning necessary for the Township’s future infrastructure improvements made this a very challenging budget year.  The Township Committee worked very hard to minimize the impact that this budget will have on taxpayers and we believe that it is a responsible spending plan for this year and the year’s to come.”

In addition to providing funding towards the Township’s long range facility improvement program, the 2005 budget contains funding for a number of other new and on-going initiatives aimed at enhancing services to residents.  These initiatives include the overlay of eight Township roads, several drainage improvement projects and a critical upgrade to the Township’s emergency communication system.  Mayor Krieg stated, “The Township has deferred several of these major capital expenditures over the past few years to allow the local and regional school board to attend to their facility needs, and now we must be responsible and address these important municipal needs.”

Under state law all municipal budgets must be approved by the New Jersey Department of Community Affairs.  Subject to this approval, the Committee has scheduled the date of May 9th for official public hearing on the 2005 budget.