CAPE MAY – Cape May’s total municipal budget for 2023 is $35.9 million, spread over the current fund budget and three self-financing utilities.
The current fund budget of $23.7 million calls for no increase in the local purpose tax for the fourth year in a row.
The city’s surplus stands at a healthy $12.7 million. The local purpose tax levy for 2023 is $10.7 million, which is only 45% of the total budget revenue. This shows the city’s strong position in terms of alternative revenue streams. Debt service stands at $3.8 million, just 16% of the total current fund appropriations.
The city’s three utilities are funded by user fees. The Water and Sewer Utility is budgeted at $7.5 million, the Beach Utility at $3.4 million, and the Tourism Utility at $1.3 million.
In his address to City Council, City Manager Michael Voll set three goals for administration of the city: Attention to fiscal responsibility, maintaining an open and transparent relationship with the community, and continuing to invest in infrastructure improvements.
A public hearing on the budget is scheduled for April 18.
