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Carneys Point Committee drafts 2025 budget using $3 million fund balance and new PILOT to limit tax increase
Summary
The Carneys Point Township Committee’s draft 2025 budget relies on $3 million of fund balance and a $628,000 PILOT tied to Exit 4 Harding Highway to reduce the proposed tax increase from 4.4 to 2.3 cents; the budget will be introduced March 19 and adopted April 16.
Carneys Point Township’s finance officer told the Committee on March 1 that the draft 2025 budget uses $3,000,000 of the township’s fund balance to balance the books and counts a new payment-in-lieu-of-taxes (PILOT) of $628,000 linked to Exit 4 Harding Highway as a CAP adjustment. C. Ehret, the township’s certified municipal finance officer, said the township ended up $4,954 under its CAP.
The budget matters because the committee reduced the net tax increase the township would need. "We were at a 4.4 cent increase but now it is 2.3," Committee member Mr. Pelura said during the meeting, and Ehret said the committee cut more than $200,000 from the proposal to help reach that figure. Ehret also noted the first payment for the property revaluation will be made in 2025.
The draft keeps specific program line items intact: Ehret said she left $50,000 in Recreation for grants and identified $100,000 in Dog Licensing funds earmarked for a shelter. The committee discussed possible shelter locations; Mayor Brown said an existing Rt. 40/Rt. 48 shelter is vacant but "beyond repair," and Mr. Pelura suggested asking whether the Humane Shelter on Courses Landing Road has expanded and whether a donated parcel could be used.
Ehret reviewed capital and debt timelines: the budget package includes a spreadsheet of bond and debt payments, with a 2029 long-term financing milestone and a 2030 three-year note that would convert to long-term financing. When Mr. Pelura asked whether the township could prepay while the obligation remained a short-term note, Ehret said prepayment is possible as a note but not once the note converts to long-term financing.
The township plans to introduce the budget March 19 and adopt it April 16, after the auditor reviews the package. Mayor Brown opened public participation and, with no public comments, the committee closed the period before adjourning. Dr. Johnson moved to adjourn; the meeting ended at 9:30 p.m.
The meeting record shows no formal vote on the budget at this session. The introduction and adoption dates set the next steps in the township’s calendar.
