Island Borough Assembly members worked through budget issues Thursday night in
advance of next week's regular assembly meeting.The session involved going point by point through
the questions raised by assembly members at an earlier budget review.
also updates and adjustments made to the budget as a result of changes that
have occurred since it was first introduced on April 20th.
One of the
biggest changes is the cash appropriation to the school district.
the assembly chose to appropriate money to the school district that was equal
to last year's local contribution. Now it appears that new borough budgetary
figures will mean some better news for the school district.
in both liability and property insurance for the school district have freed up
$172,000. Liability insurance is $112,000 less than originally budgeted and
property insurance is $60,000 less than expected. Those savings will translate
into a higher cash contribution for the school budget.
district had asked the borough to increase its local funding this year. The
additional $172,000 in insurance savings, will be used to raise the cash
contribution to the schools. The increase in the appropriation will still fall
$321,000 less than the district's requested amount.
At the worksession Borough Finance Director Carl Short told the assembly members that in the
future it will be necessary to find new funding sources to pay expenses. For
now, he says, thinks are pretty stable.