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Waldwick council reviews 2026 budget as auditors warn of shrinking reserves, weighs 10% tax levy option
Summary
Borough officials reviewed the proposed 2026 operating budget and an auditor model that would require a large tax‑levy increase or deeper cuts to avoid drawing reserves to dangerously low levels; staff cut a $192,000 terminal‑leave line to meet statutory caps.
WALDWICK — Borough officials reviewed a proposed 2026 operating budget on the evening’s council agenda and discussed options to close a roughly $2.5 million gap between projected spending and revenues.
Tatiana, the borough administrator, told the council the 2025 adopted budget served as the baseline for the 2026 proposal and that staff and the auditor had reviewed the document line by line. She said the auditor flagged two statutory limits — the appropriation cap and the tax‑levy cap — and staff removed a $192,000 terminal‑leave line and made other adjustments to comply.
Why it matters: The council heard two auditor scenarios for addressing the shortfall. One model that staff presented assumes a 10%…
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