HomeMy Public PortalAbout2024 Municipal Budget Summary 2024 Municipal Budget
of the BOROUGH of FRANKLIN LAKES County of
BERGEN for the fiscal year 2024.
Revenue and Appropriations Summaries
Summary of Revenues Anticipated
2024 2023
1. Surplus 1,400,000.00 1,400,000.00
2. Total Miscellaneous Revenues 5,183,513.00 4,531,237.00
3. Receipts from Delinquent Taxes 440,000.00 496,000.00
4. a)Local Tax for Municipal Purposes 12,698,111.00 12,105,305.00
b)Addition to Local School District Tax 0.00 0.00
c)Minimum Library Tax 1,837,519.00 1,619,087.00
Tot Amt to be Rsd by Taxes for Sup of Muni Bnd 14,535,630.00 13,724,392.00
Total General Revenues 21,559,143.00 20,151,629.00
Summary of Appropriations 2024 Budget Final 2023 Budget
1. Operating Expenses: Salaries&Wages 6,974,019.00 6,540,530.00
Other Expenses 10,290,264.00 9,096,464.00
2. Deferred Charges&Other Appropriations 1,952,000.00 1,872,635.00
3. Capital Improvements 572,860.00 200,000.00
4. Debt Service(Include for School Purposes) 920,000.00 1,592,000.00
5. Reserve for Uncollected Taxes 850,000.00 850,000.00
Total General Appropriations 21,559,143.00 20,151,629.00
Total Number of Employees
2024 Dedicated Sewer Utility Budget
Summary of Revenues Anticipated
2024 2023
1. Surplus 24,800.00 29,100.00
2. Miscellaneous Revenues 154,200.00 136,900.00
3. Deficit (General Budget)
Total Revenues 179,000.00 166,000.00
Summary of Appropriations 2024 Budget Final 2023 Budget
1. Operating Expenses: Salaries&Wages
Other Expenses 179,000.00 166,000.00
2. Capital Improvements
3. Debt Service
4. Deferred Charges&Other Appropriations
5. Surplus (General Budget)
Total Appropriations 179,000.00 166,000.00
Total Number of Employees
Balance of Outstanding Debt
General
Interest 589,669.00
Principal 7,110,000.00
Outstanding Balance 7,699,669.00
Notice is hereby given that the budget and tax resolution was approved by the COUNCIL MEMBERS
of the BOROUGH of FRANKLIN LAKES ,County of
BERGEN on April 2 ,2024.
A hearing on the budget and tax resolution will be held at Borough Hall ,on
May 7 ,2024 at 7:30 o'clock PM at which time and place
objections to the Budget and Tax Resolution for the year 2024 may be presented by taxpayers or
other interested parties.
Copies of the budget are available in the office of the Borough Clerk at
the Municipal Building, 480 DeKorte Drive,Franklin Lakes New Jersey,
07417 during the hours of 8:30 AM to 4:00 PM