Economy pinching borough purse

Milford — Borough expenses are up and tax revenues are not keeping up with them. Councilman James Price reported Monday that the borough is looking at a deficit. Borough Treasurer, Greg Myer said that he is anticipating a $50,000 budget shortfall by year-end. At their Aug. 4 meeting, the borough council approved a $12,000 budget transfer to the general fund to bolster the budget. That money that was to go toward renovation expense debt service on the borough building, but with planning still underway, Borough President Matt Osterberg said there would be no new mortgage cost to pay this year. Osterberg blamed the shortfall on higher insurance and fuel costs and the unexected need to replace a $50,000 police car. On the revenue side he said tax collection on delinquent properties is down, “no doubt” impacted by the slow-down in the overall economy, he said. In other business Councilman Ed Raarup reported that the US Postal Service has agreed to keep its customer operation on West Harford Street, while it seeks a new distribution center in the Milford area.