As Mayor of Mt. Laurel Township, I believe taxpayers should be aware of how the township funds operations and uses “surplus” to maintain operations. This practice is used by many townships in New Jersey and is a fundamental way of providing liquidity to towns in order to minimize tax increases and fund day to day expenses. All of these surpluses are reportable and audited by independent auditors and have been reported and audited publically for many years.
The following list demonstrates the township’s policy of utilizing the surplus generated in prior years to supplement the subsequent budget. The township is not “raiding” the surplus but rather returning the surplus to the taxpayers on a regular and consistent basis to maintain a stable tax rate. We have actually utilized a smaller percentage of our surplus over the last few years — a high 93.47 percent in 2009 to a of low 56.62 percent in 2014 due to the uncertainty of the revaluation
- 2007 89.32 percent
- 2008 87.49 percent
- 2009 93.47 percent
- 2010 84.70 percent
- 2011 90.93 percent
- 2012 92.62 percent
- 2013 85.76 percent
- 2014 56.62 percent
Many towns also float bonds and increase taxes to provide funding for operations. Cherry Hill built a new library, contributing to significant tax burdens on its citizens. Mt. Laurel has focused on cost containment with tax collections (revenues) increasing modestly over the last four years and has averaged about 13 percent of each dollar collected from our residents. In addition, we have maintained our services while providing cost containment and controls throughout city government. Over the last year, we have privatized services and partnered with surrounding towns resulting in over $1 million in direct expense reductions over the next few years. In addition, we have actively refinanced our debt, locking in historically low rates, most recently saving over $300,000 in interest over the remaining interest payment period. All of our financial records are audited by independent auditors, and are publically available.
We are proud of our public institutions and should point out where your tax dollars are directed:
- Schools — 63.40 percent
- Burlington Country — 13.78 percent
- Fire District 5.32 percent
- Open space/library 4.95 percent
- Mt. Laurel Township Local Purpose tax at 12.55 percent.
This year we will operate the entire township on 12.55 percent of each tax dollar collected, paying for police, parks, trash removal, snow and ice management and all other city functions with these dollars.
We welcome the opportunity to discuss these facts and the responsible questions about taxing, spending and how Mt. Laurel has maintained a strong budget, while practicing cost containment and cooperation with our neighboring townships through sharing services and costs.
Mayor David D’Antonio
Mt. Laurel Township
