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CFO reports $2.435M year-end cash balance; borough sets budget schedule
Summary
CFO David Sireci reported a December 31 Current Fund cash balance of $2,435,027, down from $3.9M the month before, described December receipts and disbursements, and noted state extensions for the Annual Financial Statement and budget introduction deadlines.
CFO David Sireci presented the borough’s finance report at the Jan. 13 meeting, noting a Current Fund cash balance of $2,435,027 at Dec. 31, 2025, down from $3,900,592 at Nov. 30, 2025. He said the entirety of the balance was invested earning approximately 3.50%.
Sireci itemized December cash receipts totaling $1,199,758, citing sources including $247,594 in prepaid 2026 taxes, $226,626 in reimbursements from the Trust Fund for outside police overtime, $208,436 in 2025 tax collections, and other receipts such as state aid and grant reimbursements. Cash disbursements for December totaled $2,665,323, with $924,183 for salaries, $1,000,000 for an inter-fund balance returned, and $741,140 for other budgeted expenses.
He also reported that the Division of Local Government Services extended the submission deadline for the Annual Financial Statement to March 6, and extended the date for budget introduction to March 31 or the next regularly scheduled meeting. The borough is preparing the 2026 AFS and 2026 budget and has filed the Annual Debt Statement, which reflected a low debt-to-valuation ratio (0.591%).
Council did not take additional budget votes during the Jan. 13 meeting; the finance schedule for 2026 was listed on the consent agenda for administrative processing.
