Instead of working with a private lender, the city has approval to use Monmouth County as a lender for the city’s tax anticipation notes, according to Richard Gartz, the city’s chief municipal finance officer. The deal through the county allows the city to save a little over half of a percent interest on each note, […]

The city council voted Wednesday to adopt an amended budget that includes a tax increase just under 9 percent for homeowners. The average tax increase is $234.36. This number is based on the assessment of a residential home valued at $84,000, which is the average value of a residential property in the city, according to Richard […]

The city council voted last night to advertise for a new city manager to replace Terence Reidy [above], as well as for a new chief municipal finance officer and purchasing agent. The vote to advertise for the city manager was 3-2. Mayor Myra Campbell and Council members John Moor and Amy Quinn voted yes, while […]

City Auditor David Kaplan has completed his audit of municipal finances for 2012 and presented his findings and recommendations to the city council at last week’s council meeting. The city is required to have its finances audited annually. Kaplan’s audit listed seven recommendations for the city to address. City Manager Terence Reidy [above] and Chief […]

After months of waiting for a go ahead from the state, city council members introduced a preliminary 2013 budget Wednesday night which could result in a tax increase for Asbury residents. City Manager Terry Reidy said the preliminary budget has a total deficit of approximately $1.2 million dollars. In order to help close the deficit, […]

The city has created a snow trust fund to offset extraordinary costs in the event of heavy snowfall. The council approved a resolution to create a snow trust fund at its March 20 meeting. Each year, the city can now move unused department of public works overtime funds into the snow trust fund, city manager […]