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Readington Township - PowerPoint PPT Presentation


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readington township

To insert your company logo on this slide

  • From the Insert Menu
  • Select “Picture”
  • Locate your logo file
  • Click OK
  • To resize the logo
  • Click anywhere inside the logo. The boxes that appear outside the logo are known as “resize handles.”
  • Use these to resize the object.
  • If you hold down the shift key before using the resize handles, you will maintain the proportions of the object you wish to resize.

Readington Township

2004 BudgetHighlights

change in tax rate
Change in Tax Rate
  • 2003 Rate $1.96
  • 2004 Rate $2.05
  • Increase by 4.6%
budget revenues
Budget Revenues
  • From Surplus Down $500,000
  • State Aid No Increase
  • Code Revenues Down $120,000
  • Investment Interest Down $45,000
budget increases
Budget Increases
  • Salaries $366,000
  • Legal Services $100,000
  • Insurance $ 79,000
  • Electricity $ 55,000
municipal debt
Municipal Debt
  • 2002 $35.7 million 1.64%
  • 2003 $34.8 million 1.44%
municipal tax rate
Municipal Tax Rate

Assessment $2,792,000,000

Divided by 100 = $27,920,000

Budget Requirement $7,925,482

$7,925,482/$27,920,000 = $0.284

uncollected reserve
Uncollected Reserve

Example Calculation

Funds Needed $50,000,000

Expected Collection Rate 98%

$50,000,000 / .98 = 51,020,400

RUT is the difference - $1,020,400

2004 overall tax rate
2004 Overall Tax Rate
  • County 42¢
  • Local School 86¢
  • High School 47¢
  • Municipal 30¢
  • Total Rate $2.05