Council reviews $64M current fund budget with salary increases and debt reductions

The Village Council of Ridgewood convened on April 10, 2025, to discuss the current fund budget, highlighting significant changes in salaries, benefits, and overall financial strategy. Bob, a key presenter, outlined the budget's reflection of union contract increases across various departments, including a $111,000 increase for police salaries, $151,000 for fire services, and $203,600 for blue-collar workers. Notably, the budget also includes a reduction of approximately $100,000 in white-collar salaries.

A major point of discussion was the decrease in debt service by about $1.4 million, attributed to a successful bond sale in January that paid off previous notes. This strategic financial management was praised for its methodical approach, which has helped stabilize the village's financial obligations.

However, the budget also anticipates significant increases in health benefits and pension costs, with an expected rise of $849,000 and $403,000, respectively. These costs are largely fixed and dictated by state mandates, leaving little room for negotiation.

The total current appropriations for the budget stand at approximately $64 million, with $42 million needing to be raised through taxation. The anticipated revenue is projected at $19 million, marking a conservative approach compared to previous years, where surplus usage exceeded $4 million. This year, the council aims to utilize only $3.9 million, reflecting a commitment to maintaining a healthy financial surplus moving forward.

The meeting underscored the council's efforts to balance fiscal responsibility with the needs of the community, setting the stage for future discussions on budgetary priorities and financial health.