Most Enterprise Funds are solvent; some rates increased


April 26, 2018

The Borough’s Enterprise Funds are all solvent and to keep it that way, some rate increases will go into effect this fiscal year. Enterprise operations are carried out by the harbor, water, wastewater, sanitation, elderly housing and assisted living departments, which largely pay their own way from revenue they generate from people using their services.

Finance Director Jody Tow noted that the Assisted Living fund is being subsidized by the General Fund for both Bond Debt ($179,606) and Operating Fund transfer ($150,000) this year. That account does not generate enough income to cover all...

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