Lawrence voters confront council over budget

http://www.trentonian.com/article/20120418/NEWS01/120419680/-1/SPORTS/voters-throughout-mercer-approve-school-budgets

One day after Lawrence Township voters defeated both the school budget and a municipal budget referendum to exceed the 2 percent state budget cap, 50 aggrieved voters confronted the Lawrence Township Council to demand tax relief without “arrogant threats” that their trash collection would be cut.

They called for a review of the $43.3 million municipal budget and suggested more “belt-tightening,” even if it means laying off municipal employees, at Wednesday’s public hearing on the budget.

And they got swift action.
The council agreed to meet with three local residents with financial backgrounds who stood up and volunteered their expertise free of charge to assess and cut the budget.

Ira Marks, a certified public accountant and certified financial planner, got the ball rolling by suggesting a financial committee of volunteers and offering his free services. He was joined by Max Ramos, a sales manager, and Marvin Van Hise, an attorney with banking experience as a state employee.

Councilman Michael Powers initiated the formation of the financial review committee after noting the audience was still, waiting for the council’s response, following the close of the 40-minute public session, where they aired their tax concerns.

Earlier, Municipal Manager Richard S. Krawczun said the municipal budget is being reviewed by the state and would likely be acted upon at the council’s next meeting on May 1. Had the electorate approved hiking the budget above the 2 percent cap, it would have added 14 cents to the municipal tax to close a $2.2 million budget gap.

The school budget will also be reviewed by the township council for appropriate cuts, which drew the ire of resident Andrea Pennington, who raised four children in local schools and works as a realtor.

“The school budget prepared by Tom Eldridge (school business administrator) was under the 2 percent cap, but it was defeated because voters were angry about the municipal budget and the threat that they would have to pay for private trash pickup if they didn’t agree to raise the municipal budget and tax rate,” she said. “Maybe you should you should take your municipal budget to him.”

The school budget, which was defeated 1,982 to 1,770, required a 3-cent school tax hike to compensate for the township’s loss of $38.3 million in tax ratables due to successful 2011 tax appeals.

Eldridge Financial Blog: While Energy costs, U.S. worries in economic expansion

http://www.eldridgefinancial-blog.com/2012/04/eldridge-financial-blog-while-energy-costs-u-s-worries-in-economic-expansion/

WASHINGTON (Reuters) – The Federal Reserve said on Wednesday: U.S economic actions kept growing moderately in the late winter months, however, the rising energy prices makes the manufacturers be anxious  as well as the retailers across the country.

In the reports showed in Eldridge Financial Blog the economy continued rapidly make an expansion at a self-effacing from mid of February through the late March.

It is said that some of the positive signs are the stronger manufacturing activity, steady hiring and improves retail business in most of the country.  Yet, there still a sense of threat specifically to the costlier energy and the increasing gasoline prices.

On the other side, the near -term outlook for household spending was encouraging, More than a few districts articulated their concerns that the staid increase of gas prices could limit the unrestricted costs in the coming months.

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http://www.free-press-release.com/pdf/download/201202/1328095402.pdf


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Eldridge Financial Blog: UK in recession again as recovery is ‘paralyzed’ by the European debt crisis, forecasted.

http://www.scribd.com/doc/81997236/Eldridge-Financial-Blog-UK-in-recession-again-as-recovery-is-%E2%80%98paralyzed%E2%80%99-by-the-European-debt-crisis-forecasted

Eldridge Financial Blog: UK in recession again as recovery is ‘paralyzed’ by the European debt crisis, forecasted.Britain is once again suffering a recession and unemployment risks coming closeinto three million this year as forecasted by the leading economic forecaster. The UK’s economic recovery is ‘paralyzed’ by Europe’s debt crisis, the Ernst & Young Itemclub will warn, as it cut its GDP growth forecast from 1.5 per cent to 0.2 percent.According to Eldridge Financial Blog,the dire prediction comes after nine European countries including France, have had their credit ratings downgraded on Friday, dropping world stock markets into turmoil.Economistshadhopedthatexportsandbusinessinvestmentwouldstrengthen theeconomythilicandconsumerspendingstillin thedoldrums.Nevertheless, Europe accounts for more tha40 percent of British trade and business confidence has been roughly hit by insecurity about the future of the Continent and the single currency.On Eldridge Financial Blogin the Sunday Telegraph quoted Professor Peter Spencer, chief economistat the Item Club, as saying: ‘Figures for the last quarter of 2011 and the firstquarter of this year are likely to show that we are back in recession, and we are going to have to wait until summer before there are signs of improvement. Although he said the double dip was unlikely to be prolonged, he warned that unemployment was nevertheless likely to hit three million by early next year. Figures set for release on Wednesday are expected to show the jobless figures continued to rise in the three months up until the end of November. Professor Spencer admitted that the Item Club’s predictions were based on positive assumptions about European policymakers’ ability to keep the euro zone from falling apart. The longer the uncertainty continues, the more debilitating the impact will be on the UK’s economic prospects, he added. The European Commission vice-president for economic affairs, Olli Rehn, yesterday attacked the decision by Standard & Poor’s to cut downthe credit ratings of so many European countries.The downgrades were ‘inconsistent’, claiming that the euro zone was taking ‘decisive action’ over the economic crisis.About Eldridge Financial BlogFind investment ideas, stock quotes, charts, business news, market research andlearning a lot of things financially!!! Geared towards the young professional seeking investment ideas and personal financial advice. Never invest into a stockdiscussed on this web site unless you can afford to lose your entire investment.