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Finance director urges early budget work sessions; tax increases and hydrant tax on table
Summary
Director of Finance Peggy Lennon said 2027 budget preparation has begun and the Board may need to consider tax increases to strengthen borrowing capacity for campus redevelopment; she also proposed evaluating a hydrant tax to fund hydrant maintenance.
At the July 2 meeting, Director of Finance Peggy Lennon told the Board that preparation of the 2027 Budget is beginning and that the Board will need to consider potential tax increases if it intends to strengthen the Township’s borrowing capacity for a campus redevelopment project. Lennon also discussed a possible hydrant tax adjustment to provide dedicated revenue for annual fire hydrant maintenance.
Given these fiscal considerations, Lennon recommended the Board schedule budget work sessions to examine funding options and scenarios. The Board agreed to a preliminary schedule: revisit campus development and funding implications at the Aug. 6 regular meeting, consider a supplemental Aug. 13 session if needed, and allocate time on Sept. 3 for a dedicated budget discussion.
