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Auditor: Waldwick fund balance declined in 2024; 2025 budget driven by salaries, sewer and debt service
Summary
Auditor Andrew Parente presented Waldwick’s audit for year ended 12/31/2024 and a five‑year comparative budget review. The borough’s general fund balance declined by roughly $566,000 in 2024; the 2025 budget increase is driven primarily by salary and wage increases, sewer costs and rising debt service.
Andrew Parente presented the borough’s audit and a handout comparing fund balances over the last five years. He reported the borough began 2024 with about $7.0 million in fund balance and closed the year with approximately $6.0 million, a reduction of roughly $566,000. Parente explained the principal mechanics: anticipated use of fund balance in the budget ($2,000,001.95) did not fully materialize, and certain anticipated receipts were lower than forecast. He itemized revenue variances (tax collections, delinquent‑tax receipts, miscellaneous revenues) and noted…
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