Did anyone go to TC meeting?

[Mercedes]

Did anyone go to TC meeting on the 6th to bring up the the question about the residential side of the tax burden?

[Guest]

I did not go. Here is the meeting agenda:

http://cranburytownship.org/TC_agenda_080607.html

The meeting minutes have not been posted yet.

Here is the 2007 budget summary:

http://cranburytownship.org/2007_Budget_Summary.pdf

(Note the number of employees increases from 70 to 82, a 17% increase!)

[new resident]

I'm relocating to Cranbury and this budget is shocking to me. I grew up here and can't wait to come back.

The good news is that they have a lower cost, but their tax revenue is rising on top of the revaluation so the residents will not see the impact to any great extent.

I'm also concerned about the debt load. You have over $800,000 a year in interest expenses from the debt load of over 25mill. The annual income is estimated at 12 million. So your interest is 6.7% of total income. This is a huge number for a small town and is a concern to me with regard to the future especially when one considers the size of the debt load to the overall budget is 33% of income.

[Guest]

Does anyone know why Cranbury has such a high debt load of $25 million? Thanks!