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(Cherry Hill, N.J.) – For the second consecutive year, Cherry Hill residents will see no increase in their municipal taxes under the budget introduced by Mayor Chuck Cahn on Monday night.
The proposed $64,703,621 spending plan is approximately $542,000 less than the budget adopted for the previous fiscal year.
“This budget is the result of efficient and effective management and smart fiscal policies,” Mayor Chuck Cahn said. “My goal is to continue keeping taxes stable, make smart investments in our future, and provide Cherry Hill residents with the best possible programs and services.”
Highlights of this year’s budget include: • Decreased debt service;• The continued use of grant funding to offset taxpayer dollars in funding existing programs and services;• An increased investment in infrastructure.
Mayor Cahn’s budget continues to invest in the future, and includes $8.3 million for capital improvements, including $3.45 million for the maintenance of 260 miles of Township roads, $2 million for sewer upgrades, and more than $570,000 for parks and recreational facilities.
The budget is supported by a strong tax-collection rate, and a positive credit rating (Aa2) from Moody’s, which recently cited Cherry Hill’s “healthy financial position” in reaffirming its high rating.
“Together with the Mayor, Council is committed to giving Cherry Hill residents a responsible and efficient government that keeps taxes stable while providing a high level of municipal service,” Council President David Fleisher said. “I look forward to working with the administration over the next several weeks to finalize the kind of fiscally responsible budget our residents deserve.”
The introduced budget will be available to review in the Municipal Clerk’s Office or at the Cherry Hill Library after Sept. 19. A public hearing is scheduled for 7:30 p.m. Thursday, Sept. 26, in the N. John Amato Council Chambers at Town Hall.
The full FY2014 budget document will be available to view on the Township website (www.CherryHill-NJ.com) upon adoption.*
Residents can contact the Mayor’s Office with their questions and concerns. For more information, call (856) 488-7878 or e-mail MayorCahn@chtownship.com.
*Clarification: Amended on 9/23/13 to clarify publication of adopted budget online.