BELMAR — During Tuesday night’s council meeting, the mayor and council approved of the 2022 municipal budget, which is about $30 million.
While the budget was initially introduced weeks ago, amendments were made after it went through a self-audit process.
One of these amendments includes the appropriation for resale of gasoline and diesel fuel, citing the recent gas price explosion.
“Because of the continually high inflation and the upswing in [gas] prices, we needed to add some additional funds to the revenue and the appropriations, so it’s an offset,” said Belmar Chief Financial Officer Lorraine Carafa.
Ms. Carafa said that the added funds total 1.8 million, a $300,000 increase from the introduced budget.
Additionally, there’s been a “not-so-minor” to the amount of surplus being used by the borough this year. According to Ms. Carafa, the surplus being used will nearly double in the amended budget.
“The increase in the amount of surplus we’re… applying to the budget this year is $505,256.82 to $980,357.10 for an increase of $467,950.23.
Ms. Carafa said that the surplus use increase is “directly related to Ordinance 2013-11, which was adopted by the council,” she said. “The original purpose was the painting and rehabilitation of the above ground water storage tank.”
She said that the project was to move forward in 2019, until it was discovered that no money had been allocated for it, and that the original funds had been used for other purposes by the previous administration.
“The information was gathered by our staff, sent to the auditors for review, the auditors staff prepared a report that went to the division of local government services,” Ms. Carafa said. “The division advised that we needed to raise those funds in the budget in order to offset the… unallowable expenses that were charged to the ordinance.”
Despite the increases in the amended budget however, there will be no increase the tax levy, according to Ms. Carafa.
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