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Hasbrouck Heights reports stronger cash position as 2026 budget process begins
Summary
CFO David Sireci reported a Current Fund cash balance of $3.9 million at Nov. 30 and November receipts of $11.45 million (including $11.15 million in 2025 taxes). The borough has begun 2026 budget preparations.
The borough's finance officer reported improved cash balances and the start of budget preparation at the Dec. 16 meeting.
CFO David Sireci told the council the Current Fund cash balance was $3,898,742 at Nov. 30, up from $1,753,054 at Oct. 31, an increase of $2,145,688; those funds were invested and earning 3.50 percent. November cash receipts totaled $11,447,012, including $11,147,431 in 2025 taxes, $65,011 in prepaid 2026 taxes and other receipts such as hotel fees, court fines and flood mitigation grant reimbursement. Cash disbursements for November totaled $9,301,324, of which $7,861,262 (85 percent) was paid for local school taxes.
Sireci said a tax sale on Nov. 13 drew outside lienholder interest (two properties and $65,600 in premium payments), and that budget request forms had been distributed to department heads on Nov. 14 as the borough began preparing the 2026 budget and year-end close.
Council did not take separate action at the meeting on the 2026 budget; Sireci's report was provided as part of the department updates and will inform the upcoming budget process.
