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Resident presses board on $13.3 million "miscellaneous" revenue in budget reports
Summary
At the Toms River board meeting a resident asked about a $13,348,467 "miscellaneous" revenue entry in the board secretary's report; the board secretary and administration said $12.4 million of that was budgeted as proceeds from planned asset sales and that negotiations are ongoing.
A resident, Krista Whitaker, asked the board to explain a $13,348,467 "miscellaneous" entry in the revenue portion of the board secretary's report and where those funds would come from. "Where are we coming up with that money?" Whitaker asked, noting the figure must also cover salary compensations noted elsewhere on the agenda.
A board official responded that roughly $12,400,000 of that line was budgeted as proceeds from the sale of assets and that those transactions remain "in process"; the administration said it expects an announcement by the end of the month about those transactions. The board emphasized multiple efforts are underway to identify revenue sources to offset the fiscal-year budget shortfall.
