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Ramsey adopts cap‑bank ordinance and introduces 2025 municipal budget
Summary
The mayor and council adopted Ordinance O‑3‑20‑25 to establish a cap bank that gives the borough flexibility on municipal appropriations and introduced the 2025 municipal budget, which the borough says is under the state appropriation cap and proposes a municipal tax rate increase of 3.95 percent.
The Borough of Ramsey on Feb. 26 adopted Ordinance O‑3‑20‑25, a standard municipal "cap‑bank" measure that allows the borough to increase municipal appropriations up to a state‑allowed percentage (used for budget flexibility) and introduced the full 2025 municipal budget for public hearing and later adoption.
Councilman Gutwetter presented the ordinance in its final reading; the council approved adoption by roll call. Gutwetter described the measure as a standard municipal ordinance: "This does not impact the tax levy cap of 2%." The ordinance allows flexibility on appropriation line items within the state municipal cap (discussed by the council as up to about 3–3.5 percent in a given year) and creates a cap bank for potential future use.
Borough Administrator Bose gave a budget overview and introduced the 2025 budget document to the council. Bose said, "The 2025 appropriation levels for salary and operating expenses collectively are increasing by 2.04% from last year's levels," and noted the budget remains more than $1 million below the state appropriation cap. The proposed budget includes a principal paydown of $2,220,000 (an increase of about $1,000,000 from 2024) and a collective municipal tax rate increase of 3.95 percent. Bose said the borough's overall debt position remains low — at 0.296% of equalized valuation at the end of Feb. 2024 — and said the borough aims to position itself for future capital work by paying down short‑term debt.
The budget resolution introduced line items as follows: total general appropriations $30,377,946.68; less anticipated revenues $7,522,207.05; amount to be raised by taxes for municipal purposes $21,212,150.12; minimum library tax $1,643,588.76; total to be raised by taxes $22,855,738.88. The water and sewer utility budget lists appropriations and utility revenues of $9,025,000, and the swimming pool utility fund lists appropriations and revenues of $980,000.
The council approved the budget introduction by roll call. The public hearing and vote on adoption are scheduled for the March 26 council meeting; the full budget documents will be posted on the borough website and a budget brochure will be mailed to residents in advance of the hearing.
