February 9, 2004

NEWSRELEASE

Mendham Township Introduces 2004 Budget

The Mendham Township Committee introduced the Township’s year 2004 budget at its meeting on February 9. The 2004 budget proposes a one and one half cent increase in the municipal tax rate. The 1.5 cent increase is necessary to fund costs associated with the first phase of the Township’s long range facility improvement plan, and operating increases resulting from rising utility and insurance costs.

The 2004 budget maintains Mendham Township ’s traditional high level of services while limiting the tax impact on residents. The proposed budget achieves this goal by holding the line on general operating expenses and carefully controlling capital and personnel expenditures.

Mayor Robert Pierson stated, “The Township Committee is pleased to introduce a budget which responsibly addresses the needs of the community with minimal impact on municipal taxes. It has been a standing goal of the Township Committee to maintain services while holding the line on spending and we are happy to once again accomplish this objective.”

In addition to the implementation of phase one of the Township’s long range facility improvement program (including a reserve for the proposed Library of the Mendhams project, and planned improvements to the Township municipal facilities/Brookside Firehouse), the 2004 budget contains funding for a number of other new and on-going initiatives aimed at enhancing services to residents. These initiatives include the replacement of two police vehicles, the overlay of five Township roads, and the implementation of planned improvements for India Brook Park on Ironia Road (trail and ball-field development) and the exploration of improvements to the Township’s emergency communication system. Mayor Pierson stated, “The 2004 budget meets the needs of our growing community and more importantly, provides a solid foundation for the Township’s future financial needs.”

The 2004 budget totals $8,098,728.37. This constitutes an increase of $1,277,106.36 from 2003, $950,000 of which is a reserve for the long range facility improvement program. The municipal tax rate will increase from the current rate of $0.42 per $100 assessed value to $0.435. The proposed tax increase would be Mendham Township ’s first increase in municipal taxes in seven years (1997) and only the second such increase since 1990.

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 March 8th for official public hearing on the 2004 budget.

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