DocuSign Envelope ID: 770223B8-42F8-4748-AA3D-7A1792141FE5
2024 Municipal Budget
of the
BOROUGH
of
SOMERVILLE
County of
SOMERSET
for the fiscal year 2024.
Revenue and Appropriations Summaries
| Summary of Revenues | Anticipated | |
|---|---|---|
| 2024 | 2023 | |
| 1. Surplus | 5,800,000.00 | 2,750,000.00 |
| 2. Total Miscellaneous Revenues | 10,691,628.80 | 8,661,724.95 |
| 3. Receipts from Delinquent Taxes | 400,000.00 | 400,000.00 |
| 4. a) Local Tax for Municipal Purposes | 13,125,605.50 | 13,055,960.78 |
| b) Addition to Local School District Tax | ||
| c) Minimum Library Tax | ||
| Tot Amt to be Rsd by Taxes for Sup of Muni Bnd | 13,125,605.50 | 13,055,960.78 |
| Total General Revenues | 30,017,234.30 | 24,867,685.73 |
| Summary of Appropriations | 2024 Budget | Final 2023 Budget |
|
1. Operating Expenses:
Salaries & Wages
|
7,759,200.00 | 7,298,000.00 |
|
Other Expenses
|
10,784,845.40 | 10,196,126.73 |
| 2. Deferred Charges & Other Appropriations | 2,695,996.90 | 2,021,378.00 |
| 3. Capital Improvements | 4,000,000.00 | 500,000.00 |
| 4. Debt Service (Include for School Purposes) | 2,877,192.00 | 2,702,181.00 |
| 5. Reserve for Uncollected Taxes | 1,900,000.00 | 2,150,000.00 |
| Total General Appropriations | 30,017,234.30 | 24,867,685.73 |
| Total Number of Employees | 78 | |
|
2024 Dedicated
PARKING
Utility Budget
|
||
|---|---|---|
| Summary of Revenues | Anticipated | |
| 2024 | 2023 | |
| 1. Surplus | 170,000.00 | 190,000.00 |
| 2. Miscellaneous Revenues | 683,500.00 | 701,000.00 |
| 3. Deficit (General Budget) | ||
| Total Revenues | 853,500.00 | 891,000.00 |
| Summary of Appropriations | 2024 Budget | Final 2023 Budget |
|
1. Operating Expenses:
Salaries & Wages
|
284,500.00 | 230,000.00 |
|
Other Expenses
|
449,000.00 | 501,000.00 |
| 2. Capital Improvements | 50,000.00 | 125,000.00 |
| 3. Debt Service | ||
| 4. Deferred Charges & Other Appropriations | 70,000.00 | 35,000.00 |
| 5. Surplus (General Budget) | ||
| Total Appropriations | 853,500.00 | 891,000.00 |
| Total Number of Employees | 5 | |