Holmdel introduces $20M budget 'Bare-bones' budget proposed at May 1 committee meeting BY ERIN O. STATTEL Staff Writer HOLMDEL- The TownshipCommittee introduced the 2008 municipal budget last week. At the May 1 committee meeting, a $20 million budget was introduced and explained by TownshipAuditor Robert Oliwa. According to the budget overview, the total 2008 current fund budget appropriations are $19,905,795 and the amount to be raised by taxation for local tax purposes is $10,074,973. "This year's budget is the third lowest in recent history as far as appropriation increases are concerned,"Oliwa said. "Keep in mind, Holmdel's ratables have been going down and our state aid was cut by about $200,000." The introduced tax rate for 2008 will be 22 cents per $100 of assessed value.Ahome assessed at $750,000 will be taxed $1,650 a year, an increase of $165, or 11 percent, from 2007. The 2008 Open Space Tax will remain at 2.5 cents. This year's local taxation revenue comes out to $1,144,913 for 2008. The capital budget introduced will cover six years of improvements in town for a price tag of $7,616,450. Over six years, the $7.6 million will cover improvements for road projects, parks and buildings, and equipment purchases. State-mandated appropriations include the municipal pensions, which account for $1,042,761 in 2008, an increase of $388,631 from 2007. Pensions included in this mandate are the Police and Firemen's Retirement System (PFRS) and the Public Employees'Retirement System (PERS). This year's allocation for police salaries is $4,806,529, a 9 percent increase fromlast year. There was discussion around the fact that the town has lost ratables.According to the budget overview, the 2008 ratable base has decreased by $41,392,062. "This town is operating bare-bones. We really need to look at our businesses in town and focus on attracting new businesses," said Republican CommitteemanAlan Bateman. "As far as Lucent goes,we are taking a huge hit.We told Preferred [Real Estate Investments, of Conshohocken, Pa.] 'Don't even think about it' and I don't think we can continue that way.We as a community need to work together and broaden our ratables." Bateman referenced the deal that Preferred Real Estate Investments had made with Lucent Technologies in 2007. Preferred had proposed knocking down the buildings at the former Bell Labs site on Crawfords Corner Road and putting in high-density housing tracts. The deal fell through lastNovember. Committeeman Rocco Pascucci, also a Republican, added that the state government should also be held accountable. "We need to pressure the state government," he said. "The public needs to write letters and the state government needs to get off their duffs." The Township Committee will have a public hearing on themunicipal budgetMay 29 at 7 p.m. in Town Hall.