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Ridgewood reviews revenue shortfalls tied to Valley move, delays 2025 budget introduction to April
Summary
At a Feb. 27 special budget meeting the Ridgewood Village Council reviewed revenue shortfalls—largely tied to the relocation of Valley’s registrar functions—and agreed to delay introduction of the 2025 operating budget to April while staff finalizes numbers and awaits state guidance.
Village of Ridgewood finance staff reported a modest shortfall in 2024 operating revenues and urged the council to delay formal introduction of the 2025 operating budget until April to allow final reconciliations and a review by the state Division of Local Government Services.
The shortfall stems largely from the departure of Valley hospital services that had generated registrar fees (birth and death certificates) and from normal fluctuations in interest income. Finance staff say, after accounting for other adjustments, Ridgewood is likely to end up roughly $240,000 ahead of its 2024 projection once final entries are reconciled, but staff recommended postponing introduction so members can review revised line items and the DLGS can sign off on the reserve for uncollected taxes.
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