Red Bank Budget Presentation Tuesday

If you have something to say about Red Bank's 2013 municipal budget, Tuesday night is the night.

The members of the Borough Council Finance Committee will host a presentation of the $21 million spending plan at 6 p.m. at the Red Bank Municipal Building, 90 Monmouth Street. 

When introduced, the budget proposed a 3.8-cent increase per $100 of assesed property value, which translates into a total municipal tax rate of 52.9 cents per $100 with last year's rate at 49.1.

For the average assessed property in the borough it means a hike of about $12.50 a month, Borough Council's finance liaison, Michael DuPont, had said.

For this budget, DuPont explained, overall revenue decreased by about $200,000 and expenses increased by about 2.39 percent, or $500,000. 

While DuPont had said that the increase is mostly accounted for in contractual expense obligations with communications and police unions, he also said that successful negotiations with unions concerning health benefits are the root of lower insurance premium increases.

He explained that while insurance rates went up 22 percent last year, this year the rise is a much lesser 6 percent.

DuPont called attention to the fact that Red Bank employees contribute roughly $200,000 a year to their benefits plans.

He also said that the borough took about a $19 million hit in loss of ratables last year that he expects to change with the better economy and construction on the rise.

Tuesday night is a special budget presentation. The formal public hearing is slated for the April 24 at 6:30 p.m.