Speaker 1 presented the borough's draft 2026 budget and said the plan is balanced without raising taxes: "we do have a valid balanced budget with no tax increase," with the real estate tax rate holding at 8.59 mills. The presentation included fund-level estimates — general fund about $6,825,000, bond project fund roughly $6,775,000, shore fund $2,900,000 and the road fund near $407,000 — and reflected October actuals.

The bond fund was a central concern. Speaker 1 said the borough is temporarily seeing slightly negative bond-fund balances while it awaits delayed grant receipts and a reissued payment tied to a reapplication (an additional $600,000 award was noted); staff expect a check in the first week of December that should restore positive balances. Councilors discussed short-term borrowing and reimbursements; Speaker 1 noted the borough previously borrowed $100,000 from the road fund and expects to repay it when grant proceeds arrive.

Line-item changes explained by Speaker 1 included an increase in building-repair budgeting to about $30,000 (correcting a prior undercount), a new $5,000 line for camera subscription fees, a small $500 addition for "yoga in the park," and modest adjustments to military-banner revenue/expense. Corrections to payroll and engineering estimates reduced projected expenses by roughly $136,000 overall, producing approximately $104,600 in discretionary spending that the council can allocate.

Participants discussed priorities for discretionary dollars. Speaker 1 urged caution in spending bond funds now to preserve capacity for larger projects and suggested directing excess discretionary funds toward sewer repairs, which were discussed as a larger multi-hundred-thousand-dollar need. Council members agreed to continue pursuing grant funding for police-related equipment and to review capital timing if Public Works building completion shifts into 2026.

Next steps: the finance committee will reconvene the following day to recheck the numbers, and an approval meeting for the budget is scheduled in about two weeks. Speaker 1 closed the workshop portion and moved the group toward the town's scheduled meeting time.