Toms River will receive $10.2 million in federal aid to bridge the gap between the township's budget obligations and the ratable base destroyed during Superstorm Sandy, though officials had requested $15 million in aid.
"We knew going in that that was going to happen," said Township Administrator Paul Shives, so a plan has already been put into place to stabilize the budget for the 2014 tax year.
Shives said the township's $124 million budget, as introduced earlier this year, will have to be amended to reflect the lack of the full, $15 million payment, though the aid shortfall should not affect the tax rate required to support the spending plan.
Shives said the township will use a little more surplus funding than initially planned to plug the budget hole, and residents' tax bills should be what was called for in the proposed budget.
The budget that was introduced in May calls for a 3.8-cent
increase per $100 of assessed property value, or about $100 per household based on the township's $350,000 average.
The township council is expected to hold a public hearing on the budget at the next scheduled council meeting.
Meanwhile, the township will send estimated tax bills to residents.
"The budget is not going to be adopted in time for them to certify the rates, so they have to do estimated bills," said Shives.
Tax rates must be certified by the state before being passed on to residents.