2024 Budget Adopted

The document represents the adopted municipal budget for the Borough of Stockton, Hunterdon County, New Jersey, for the fiscal year 2024. It includes detailed summaries of revenues and appropriations across various municipal functions, including general government, public safety, public works, health and welfare, recreation, and education. The budget outlines both "CAPS" (appropriations within spending limits) and excluded appropriations, along with dedicated utility budgets for water and sewer services. Key components include property tax levies, state aid, miscellaneous revenues, and capital improvement projects with a multi-year outlook. The budget was adopted by resolution of the Governing Body and is certified as a true copy of the approved financial plan. The budget details anticipated revenues totaling $1,009,444.32, comprising surplus, miscellaneous revenues, delinquent tax receipts, and the amount to be raised by taxation for municipal purposes, set at $549,589.11. Appropriations are allocated across operating expenses, deferred charges, capital improvements, debt service, and a reserve for uncollected taxes. The document also includes a three-year capital improvement program outlining planned expenditures for various projects. It also provides a breakdown of the municipality's assets, liabilities, reserves and surplus, current revenue on a cash basis, and changes in the current surplus, offering a comprehensive overview of Stockton's financial planning for the year. The adoption date, according to the document, falls around the 20th of May, 2024, as the final resolution for budget adoption occurred around that timeframe, following introduction and public hearing. A public hearing on the budget and tax resolution was held on May 20th, 2024 at 7:00 PM.