— RIVERSIDE – A proposed borough budget for 2014 will create an estimated $27,895 deficit, but will not result in higher taxes for residents.
The budget, discussed at the borough council’s Nov. 18 work meeting, has approximately $721,316 in receipts and costs of approximately $749,211. This would normally result in a real estate tax increase of one millage, “however with more fine tuning of the budget and some carry-over we feel a tax increase for 2014 will not be necessary,” said council president Peter Fleming. There is about $80,000 to $90,000 in the borough’s reserve fund, he said.
The budget breaks down to $132,582 for administration costs, $293,229 for police costs and $323,400 for street department costs.
Healthcare costs for borough employees are among the items still to be pinned down by the borough council. They are awaiting final estimates from providers for the healthcare plans.
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