After more than two months and a number of different budget scenarios, the Moorestown Township Council unanimously approved the introduction of the 2012 budget that includes a zero levy cap increase.
At a special meeting on Wednesday, June 20, the council approved the introduction of the $22.46 million budget, just two days before the state mandated deadline. If the council did not pass the budget by June 22, the state would have fined the members of council $25 a day after the deadline.
The budget will feature a zero levy cap increase after Township Manager Scott Carew and Township Finance Director trimmed more than $250,000 of appropriations from the document. The two professionals also decided to use $50,000 from the utility fund to cover some salaries and administrator costs, Mayor John Button said.
The township will also include about $6,000 of the potential liquor license revenue to close the budget gap.
