With no increases in fees since 2008, nor any tax increases since 2006, the Town of Millville appears to be in “good financial shape,” according to Town Manager Debbie Botchie.
With its newly-approved budget calling for general and administrative expenses of $911,448, and expected revenues of $1.43 million, the Town is expecting to add more than $500,000 to its contingency fund. Which, you know, is a really good thing.
Obviously, robust real estate transfer tax revenues are helpful. The Town had planned for around $336,657 in revenues during the current fiscal year, but the actual revenues as of Jan. 20 were $1.15 million — more than three times the budgeted figure. That helps the Town prepare in case circumstances turn the other way.
Botchie explained that the Town is conservative with its spending, keeping in mind that the economy, both locally and nationally, could turn south at any time.
“We could have a disaster like what happened in 2007 and 2008,” she explained.
Millville has the third-lowest property tax revenues in the state, so it is smart they are planning for an uncertain future. Kudos to officials for being prudent, and playing “the long game.”