CAPE MAY – Cape May City Council March 16 introduced its 2021 municipal budget (https://bit.ly/3c0ivAt). The $20.8 million current fund budget calls for no increase in the local purpose tax rate, which remains at $0.3636.
The budget is under state-imposed appropriation and level caps. The budget will come up for a public hearing April 20.
The submitted budget showed the city managed a small increase in its current fund surplus coming out of 2020. The surplus benefited from $454,672 in net savings in 2020, leaving the city with a healthily $7.8 million surplus balance.
The city’s three self-financing utilities proposed budgets for 2021 are: water and sewer – $7.2 million; beach – $2.8 million; and tourism – $1.1 million.
