Lawrence village proposes $6.785 million budget

Village of Lawrence residents could be paying a bit more for living in the 125-year-old municipality as the tax rate per $100 of assessed value (the value of a property as determined by a tax assessor) will increase $2 to $127 in the proposed $6,785,850 million budget for the new fiscal year that begins on June 1.

A public hearing on the tentative budget will be part of the village’s April 7 meeting. The preliminary fiscal plan can be reviewed at Village Hall, 196 Central Ave., Lawrence. The meeting is at 8 p.m.

The current operating budget is $6.663 million. Revenues for the proposed budget are estimated at $2.877 million, nearly $500,000 or 21 percent more than the 2021-22 budget. However, the appropriated fund balance – the amount of money assigned to fund specific expenses – declined by $33,512 or 35 percent from $1,29 million to $786,211.

“The village is doing very good, fiscally sound,” Mayor Alex Edelman said, adding that the budget does not include the influx money from the sale of the Rock Hall property with a portion expected to be generated this year and another next year.

The sale of the nearly 4-acre parcel went to contract and will now go to closing. It was purchased for $8.5 million. It is planned that at least seven single-family homes will be built.

Edelman added that the Lawrence Yacht & Country Club, usually a drain on village finances, is rebounding from the Covid lull with membership numbers ticking upward and golf outing being booked. There is also a new caterer at the club. “We are head of last year’s numbers and overall it looks good,” he said.