Accounting Gimmick: Ridgewood considers using $3M surplus
Wednesday, April 17, 2013
BY CHRIS HARRIS
STAFF WRITER
The Record
RIDGEWOOD — The Village Council could conceivably draw $3 million from the village surplus, if it is intent on delivering a zero-percent tax increase while maintaining current staffing levels.
The $3 million solution to Ridgewood’s lingering budgetary concerns was floated by Village Manager Ken Gabbert at a recent council meeting.
The village’s present fund balance sits at $4.3 million, Gabbert said, adding that $800,000 of the money is restricted and cannot be touched.
That, Gabbert said, leaves $3.5 million in the surplus account the council could access to attain its stated goal of no tax increase for 2013.
Tapping into that money would prevent layoffs, increase funding to the library’s budget, and permit extended hours at Graydon Pool, Gabbert said.
The tactic gave Councilman Thomas Riche pause, because he said such a move would leave the village with a fund balance of just $500,000.
https://www.northjersey.com/news/203337361_Ridgewood_considers_using__3M_surplus.html
it’s no gimmick. do it. and use it. we can not have any more lay off’s in town. we have no one left is some dept’s.