Monday, May 30, 2011

Budget Meeting May 30- 2011

Because the Township received revenues from the North-Star Center for 30 years, they of course had that revenue worked into their budget. Now that the revenues are no longer being collected, expenses needed to be cut. Anyone who has experienced a cut in pay knows this reality.

Approximately $265,000 of revenues needed to be recouped. The options were to cut expenses or increase revenues by increasing taxes.

A large chunk was recovered from the Township's Wages expense. All employees willingly took a pay cut, and one staff member will be laid off. The town office will be closed on Fridays to save costs. The library board also cut their costs back significantly. Smaller cuts were made in every department. In the end, they were able to shrink the large deficit. The tax payer will be responsible for what remains; $41,000.00, which equals a 5% tax increase.

A report with all the numbers will be available for anyone who is interested.

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