(Atlantic) The Atlantic City Council approved the preliminary fiscal year 2023 budget and set March 16 for the public hearing to adopt the budget.
Atlantic City Administrator John Lund made a few adjustments to correct unbalanced transfers, resulting in an updated budget totaling 14-million-723-thousand-430 dollars. The budget shows a decrease of 1.78-percent or $266,800 from last year’s budget. The City’s combined property tax levy shall remain at the level set in the fiscal year 2021-2022 budget at $16.56 per one thousand dollars of valuation.
Lund says the overall budget accomplishes vital priorities of the Mayor and Council in funding for beautification, housing, economic development, code enforcement support, and escrow funds for airport improvements.
Lund says there are no proposed increases to existing fees; however, he says there is a necessity to increase the sanitary utility rates to accommodate the capital improvement needs of the wastewater department.
He says all items in the 10-year capital improvement plan are funded fully with a declining reliance on debt and responsible use of escrowed funds.
The County Auditor must certify the final budget and submit it to the State by March 31.
