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Council debates using fund balance, tax scenarios and revenue options as 2025 budget gap narrows
Summary
Council members reviewed deficit estimates, discussed using fund balance and trust accounts, and directed administration to develop revenue and cost‑reduction options; several council members signaled support for a 2.5% tax‑rate benchmark for further work.
Interim City Manager Joe DeMarzo and the city’s auditor and CFO told the Clifton Municipal Council that the city’s unaudited current‑fund balance is about $14 million and that the council must weigh how much of that reserve to use to close a 2025 budget gap.
Why it matters: Council members said the municipality faces a sizable operating gap after recent staff raises, benefit costs and lower‑than‑expected grant receipts. "Legally you can use it; you have $14,000,000," auditor Robert Hague told the council, but he cautioned that using a large portion of reserves requires a plan to regenerate them or the city could face bond‑rating pressure if balances shrink materially.
DeMarzo and CFO figures…
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