Here’s some quick highlights:
1. Budget introduction tonight includes 10 percent tax cut since FY 2010
(5% Transition year 2010 + 5% SFY 2011)
2.Responsible cash surplus level of approximately $5 million - 5 percent of total budget (Any lower would be fiscally irresponsible and damaging to our bond rating. Beware of politicians falsely claiming that we have $25 million of available surplus – We Don’t!).
3. Reached agreement with the Police unions that saves Hoboken $700,000 over previous agreement negotiated by Judy Tripodi.
The agreements also provide ongoing annual savings of an estimated $200,000. (In addition to multi-million dollar annual savings from restructuring of the Dept).
Finally, the agreement on the agenda tonight gives both our Police officers and our citizens the security of an agreement going into the future for the first time in many years.
4. Parks initiatives: Tonight, we are proposing a $20 million bond, funded entirely by the Open Space Trust Fund that Councilman Cunningham and I sponsored a few years ago. This funding is crucial to enabling us to stop talking about acquiring new open space and actually move ahead and get it done!
- Mayor Dawn Zimmer ◦
