Editor’s Note: The budget proposal excerpted below was submitted by West Windsor Mayor Shing-Fu Hsueh to members of council on Wednesday, February 12.
I submit to Township Council the proposed 2015 West Windsor Township Municipal Operating and Capital Budgets for your review and consideration. What is abundantly clear is all of us share the overall objective and joint desire to keep tax increases in check while maintaining the high quality of municipal services our residents expect and deserve.
It is important to note that during the compiling of the 2015 budget it became apparent that another year with a zero percent tax increase was unattainable unless the administration deviated from the fund balance policy. Council’s decision to defer a minimal tax increase in 2014 resulted in a change in our financial condition. Ending balances remaining in the fund balance decreased $200,000 from $6.6 million for the year ended 2013 to $6.4 million for the year ended 2014. Council borrowed from the fund balance expecting to replenish the account from anticipating $100,000 of additional municipal court revenue. Unfortunately, excess money from municipal court revenue did not materialize, contributing to the fund balance shortfall.
As in all prior years, during my tenure as mayor, the proposed budget was formulated with the theme of “long-term financial planning and sustainability.” The purpose of these two principles is to predict how actions taken this year and next will have impacts on budgets and services going forward. It has long been a mandate of my administration that we refrain from a policy of up and down “spikes” in our budgets and tax levies.
Thus far, we have been successful in accomplishing these objectives due to my commitment to sound “long-term financial planning and sustainability” and my resolve to continue to adhere to financial policies and best practices aimed at continuing to keep the reputation of West Windsor as an economically desirable community for our residents as well as businesses. And, because of accomplishing this, Standard & Poor’s Rating services affirmed its “AAA” long term rating on West Windsor Township’s general obligations bonds (debt) since 2007. This rating results in lower interest rates for money the township borrows to fund capital improvement projects.
I remain steadfast in my desire that our township government will continue to find innovative ways to operate more efficiently and economically and maintain the highest level of quality services to our residents. We will not deviate from these goals, as we plan and manage our long-term financial stability and promote a sustainable future for West Windsor Township. Our emphasis remains on transit-oriented development and principles of smart growth, open space preservation, and public infrastructure improvements.
Shing-Fu Hsueh
Mayor, West Windsor Township
