As expected — and as requested by Plainsboro Mayor Peter Cantu — the initial Plainsboro municipal budget presented last month came back leaner at the March 13 Committee meeting.
The original budget had anticipated a 1.6 cent municipal tax increase and a projected increase of $61.60 on an average priced home. The trimmed down budget, presented by Township Administrator Robert Sheehan, reduced the tax increase to .96 cent and would increase taxes on the average home (valued at $385,000) only by $37.
The overall 2013 budget of $25,253,905 is virtually identical to the 2012 budget — and actually $293 less. The reason for the tax increase is to offset the reduction of $44 million in assessed property value and to replenish surplus funds used in 2012.
Despite this, revenues remained generally strong, with three performing very well:
Recreation fees exceeded expectations by $60,888, due to the increased enrollment in summer camp;
Uniform Construction Code (UCC) fees increased by approximately $524,400, largely due to construction at Novo Nordisk;
and Payment In Lieu of Taxes (PILOT) increased by $475,340 due to the addition of the medical arts pavilion at Princeton Healthcare.
Several expenses were also reduced: the Public Employee’s Retirement System (PERS) was reduced by $52,139; interest on bonds was reduced by $123,089; and health insurance costs were reduced by $233,926.
The reduction in health insurance costs is attributable both to the fact that the Township now uses the State Health Benefits Plan, and that Township employees will contribute $205,000 to their health insurance premiums, an increase of $75,000 over 2012.
Finally, the major capital expenditures in the 2013 budget include:
Intersection improvements at Plainsboro Road/Schalks Crossing Road/Parkway Avenue, at a cost of $1.4 million;
Improvements to play areas at Schalks Meadow and Morris Davison Parks, totaling $225,000;
Drainage improvements on Cranbury Neck Road, which will cost $227,000; and the annual road maintenance program, which will cost a total of $1.5 million.
In addition to budget matters, the Committee set a speed limit of 35 m.p.h. on Enterprise Drive and Plainsboro Road. “This was formerly a private road that the Township accepted as a public road late last year,” said Sheehan. “As part of that process, we determined an appropriate speed limit and now the Committee has officially approved it.”
The Committee also approved the Princeton Healthcare System redevelopment plan.
Regarding another potential development — the Plainsboro Plaza, and specifically the possibility of a food store — Sheehan noted that there is “now a contract buyer for the whole Plaza property, although the deal has not been finalized yet. The Township is continuing to press the potential new owners to bring in some type of food market, which they will try to do, but there will unfortunately be no relief on that issue in the near future. But we will keep working at it.”
