Tinton Falls CFO presents $31 million 2025 municipal budget, highlights $9.16M in capital work and expanded road program

Tinton Falls Chief Financial Officer Tom Fallon presented the borough’s proposed 2025 municipal budget to the Borough Council on April 15, saying the plan totals just over $31 million and uses $5,250,000 in surplus to replace expiring federal and state funds.

Fallon said the budget ‘‘provides necessary funding for all municipal services and for continued and increased capital investment in the borough’s infrastructure, parks, and equipment’’ and described a municipal revenue mix in which the amount to be raised by taxation represents about 58 percent of revenues.

The budget presentation mattered because it sets the borough’s tax and spending priorities for the year and schedules the public hearing and adoption timeline. Fallon told the council that the tax levy increase for municipal purposes is about 3.8 percent but, because assessed values rose, the municipal tax rate is projected to fall modestly to about 32.3 cents per $100 of assessed value.

Fallon provided figures and budget context: total revenues ‘‘just over $31,000,000’’; a beginning fund balance of about $10,980,000 as of Dec. 31, 2024; $5,250,000 of that planned to be used in 2025 leaving roughly $5,730,000 (about 18.5 percent of the budget) in reserve. He said the borough’s fund balance position ‘‘adds to our ability to stabilize the tax rate and weather economic downturns’’ and noted that the borough’s tax collections improved to about 99.14 percent in 2024.

On revenue changes, Fallon attributed reductions in municipal revenue and state aid to the planned end of pandemic-related recovery funds: ‘‘that $529,000 decrease this year is also due to a federal program that ended last year,’’ and ‘‘we knew that was coming to an end and we did plan for it.’’ He said the budget uses surplus to absorb those expirations and remains within statutory levy limits.

Borough Engineer Tom Neff outlined the capital program and a stepped-up road plan driven by a 2023 revision to the borough’s Long Term Capital Debt Management Plan. Neff said the 2025 capital program totals about $9,155,100 (roughly $8.577 million in general improvements and $578,000 in sewer-utility improvements). Key items Neff listed: - Road program: roughly $4.1 million for design and construction of about five miles across 16 roads (examples named: Rutgers Drive, Locust Grove Road, West Park Avenue, Oakdale, Honey Lane, Silvercrest, Woodland Manor and several Park Place-area streets). Neff said the program will be designed in 2025 and constructed in 2026 and that the borough will use a combination of down payment and authorized debt for the program. - Wells Park development: a multi-phase project described as about 60 acres with trails, a playground, a restroom building and a fishing platform; the council has budgeted $2.4 million for that project, including a projected grant and a $125,000 down payment from the Open Space Trust Fund. Neff said the project is pending New Jersey Department of Environmental Protection permits. - Field lighting at Hockhockson Park: $80,000 for additional lighting to support T-ball and evening practices. - Equipment and acquisitions: sanitation truck ($480,000), street sweeper ($290,000), drainage improvements ($600,000), open-space field maintenance equipment ($250,000), and other municipal equipment. - Sewer utility: pump-station upgrades, sanitary sewer main extensions (including Locust Grove sewer main to serve septic properties), an inflow-and-infiltration (I&I) study and miscellaneous pump station repairs; the borough’s sewer utility remains self-supporting and debt-free, Neff said.

Neff described the road program selection process, noting the borough often combines roads into larger two-year packages to achieve economies of scale and attract established contractors. He also said drainage work and underdrains are being prioritized in Park Place-area streets because of sump-pump and stormwater issues identified there.

Fallon said the borough projects using $5,250,000 in surplus in 2025—about 48 percent of available surplus—and reiterated that the budget ‘‘contains no gimmicks or structural issues’’ and aims to maintain healthy reserves for bond rating and cash flow purposes. He pointed to a recent Moody’s upgrade and affirmation as indicators of fiscal strength.

The council set the required public hearing on the 2025 budget for the May 20 council meeting, after the 28-day public-notice period. Fallon said the budget documents and the presentation PDF are available on the borough website.

Ending: With the introduction of the budget complete, the council will hold the public hearing on May 20; final adoption will follow the public hearing process required by state statute.