The distribution to Dumont is as follows:
Aid to Municipality
2010: $1,355,252 (-20% from 2009)
Aid to Board of Education
2010: $7,361,216 (-21% from 2009)
Local Finance Notice 2010-8 notes an interesting provision to the aid:
In addition, budget language regarding State aid distribution is being modified to reduce aid payments to those municipalities that use formula aid reductions as an add-on to the levy cap calculation. In other words, any amount of state formula aid reduction used as a levy cap exception [N.J.S.A. 40A:4-45(b)(2), as shown on Line A-10 of the Levy Cap Calculation Workbook] will result in an offsetting decrease to CMPTRA/ETR formula aid payments.
In related news, despite past proclamations of tax payments being up from 2009, it appears they may have been merely semantic sommersaults from borough officials. Borough revenues overall were reported down 9% from last year.
Enough of the silliness. "We've cut to the bone on our budget' is no longer an acceptable explanation.
Let the residents see how far the budget should be cut. After all, we're paying for most of it.
Also from Local Finance Notice 2010-8:
The March 31 introduction date is now modified only to the extent that the introduction date for budgets that cannot be introduced by March 31 is extended to the next regularly scheduled governing body meeting after March 31.
Looks like the budget will be introduced at the next M&C meeting April 6. Will Finance Committee Chair Manna make the deadline? I would not hold my breath...