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5/23/2012 - Freeholders Introduce 2012 Budget

Cumberland County Freeholders Introduce 2012 Budget

On Tuesday, May 22nd, during the regular freeholder meeting, the Cumberland County Freeholder board introduced the 2012 fiscal budget.

 

The 2012 budget totals $118,591,828.  That’s down more than $11 million from last year’s budget, said Freeholder Deputy Director Tom Sheppard, a member of the county finance committee.  County Freeholders are holding the line on the county budget by using $7,500,762 of the county’s $8.5 million in surplus to fill the void created by a decline in income by eroding ratables.  Contrary to last year’s tax increase from 86.48 cents to 91.28 cents on every $100 of assessed value, this year the Freeholders are anticipating what could be up to a 1 cent reduction in the tax rate, when the tax board strikes the new rate in August.

 

The current tax rate of 91.28 cents per every $100 of assessed value is expected to drop to about 89.58 cents in August 2012.  The county expects to collect $82,938,491 in taxes, plus have an income of $28,152,575 and together with the $7,500,762 from surplus will generate the budget total of $118,591,828.

 

The 2012 budget also shows a reduction of county employees, from 960 full time employees, to just 762.  The sale of the manor was a large part of the reduction in the county’s payroll.  Additionally, the sale of the manor will generate $14 million dollars, and that will help replenish the county’s surplus.

 

I’m very proud of the work we’ve done.  A lot of time and effort went into this budget to hold taxes without sacrificing county services, said Freeholder Director Carl Kirstein.