Finance

Over the past 4 years Borough Council has been successful in reducing the Borough Debt Service while providing a high level of service to the taxpayers.

In 2004, the Borough was required to spend 50.4% of the real estate taxes received to pay the debt service on loans incurred by prior administrations.  The 2009 budget only calls for 17.6% of the real estate tax dollars received to pay the debt service on loans incurred by prior administration.  All of this debt service was reduced while services in town improved, numerous projects were completed and most importantly there was never a tax increase.  The Borough Council, Manager and Mayor deserve all the credit for tackling this issue head on.

At this point, the only remaining long term debt of the Borough is the debt on the ice rink.  The annual debt payment (mortgage) is $654,000 a year.  As it stands, the money owed on the rink will not be paid off until 2025.  2009 Budget for Bristol Borough.  Please note that it is a large file so give it time to download.