STONE HARBOR – In a presentation of the 2022 budget to Stone Harbor Borough Council Feb. 1, Chief Financial Officer (CFO) James Craft said the 2022 budget that will be presented for introduction Feb. 15 will contain no municipal tax increase.
Craft said the $19.6 million general fund budget benefits from $42,390 in American Recuse Plan relief funds and a rebound in anticipating revenues from parking, beach tag sales, and tennis court fees.
In 2021, the borough had an 8% increase in the local use property tax rate due, in large part, to the need to accommodate an emergency appropriation stemming from an oversight in the 2020 budget process.
Craft indicated that the capital plan for 2022 anticipates $3.3 million in capital projects, with over $750,000 available from previous capital bond issues and $1.5 million in expected contribution from the general fund “pay as you go” rather than through new debt financing. That leaves approximately $1 million that would require a new bond issue.
Even that amount may change, as Mayor Judith Davies-Dunhour suggested that the 97th Street playground replacement project may be postponed, as the borough seeks Open Space support. She asked if the most pressing problems of drainage and puddling could be dealt with separate from embarking on the whole replacement effort projected to cost $645,000.
The general fund budget will also benefit from a need to use less surplus than the previous year, which allows the borough to replenish a surplus balance that had dropped to $666,000. In 2022, the surplus will stand at $1.1 million after the budget is approved.
The Water/Sewer Utility budget was projected at just under $5 million for 2022, with $1.2 million in surplus left after the budget is approved.
