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Previous High Was $52 mil (2013)

Belmar owes $58 million!

Up almost $22 million from year before


Click on the image for the complete debt statement

Last year’s statement here.


  1. Summer Timer wrote:

    Everyone…. Dont worry it was all based on the OLD ADMINISTRATIONS errors….. Everything is under control… Also please vote yes to the 9 million for the school remodeling…. What’s the difference between 58 or 67 million in debt…. Its only money and the NJ economy is currently expanding….

    Tuesday, February 4, 2020 at 3:18 pm | Permalink
  2. I think... wrote:

    My guess is the new bonds issued at the end of 2019 are going to be used to fully pay off the notes maturing in 2020. If that is true, that amount should be reported on page 9 1(b). The net debt would be reduced by that amount.

    Tuesday, February 4, 2020 at 3:39 pm | Permalink
  3. Guest wrote:

    Wow, state take over maybe.

    Tuesday, February 4, 2020 at 3:55 pm | Permalink
  4. Please! wrote:

    Summer Timer, I thought you jumped off the Pulaski Skyway?

    Tuesday, February 4, 2020 at 4:30 pm | Permalink
  5. Summer Timer wrote:

    #4… Thanks for asking… I am doing just fine…..

    Tuesday, February 4, 2020 at 4:56 pm | Permalink
  6. AreYaKiddin? wrote:

    Summer Timer..I’m sure your corrupt Democrat candidates and cronies would have done a knock up job at lowering the debt of our town. Maybe you would be able to to help them campaign too if you lived here more than 3 months out of the year and didn’t tell everyone else how to live their lives.

    Tuesday, February 4, 2020 at 6:32 pm | Permalink
  7. Anonymous wrote:

    To be fair – the school is asking for just over $5,000,000 (not $9). The question on the ballot isn’t allowed to put that number in writing for some dumb reason. The state has approved 100% of the repairs and will give 40% of the $9+ total on the ballot. Summer timer. The correct word is repairs not remodel.

    Tuesday, February 4, 2020 at 6:46 pm | Permalink
  8. Resident wrote:

    Nothing But The Best…..SMH

    Tuesday, February 4, 2020 at 9:58 pm | Permalink
  9. Summer Timer wrote:

    #6… If you have read the vast majority of my comments on this blog, it is very obvious I am a conservative… I never liked or supported the past administration… The issue at hand is the current administration are RINO’S…

    Tuesday, February 4, 2020 at 10:33 pm | Permalink
  10. Summer Timer wrote:

    #7…. Your correct… My bad… The other 4.5 million is free…

    Tuesday, February 4, 2020 at 10:35 pm | Permalink
  11. Average Joe wrote:

    Above average amount for below average students

    Wednesday, February 5, 2020 at 8:01 am | Permalink
  12. Anonymous wrote:

    #10 – We all know nothing is free. But as far as you’re concerned (as far as someone who hates paying for public education) it is free, as it won’t be additional taxes. The building is falling apart. The state and federal mandates keep adding to costs and the state aid dropped considerably. So, the school has had to put band aids on problems so it can focus on instruction. It’s now at the point where the crumbling facility impedes instruction, and it would be fiscally wasteful to put band aids on the problem areas. After new windows and HVAC the operating costs will go down.

    I’m sorry to say, Summer Timer, that public education, which has been around for hundreds of years, is here to stay. If you’d like to streamline costs please get involved.

    Wednesday, February 5, 2020 at 8:10 am | Permalink
  13. Summer Timer wrote:

    #12… Thanks for the education… However that 4.5 million is coming from state taxes… It could be used state wide to reduce property tax… Nothing is free it’s just a matter of how the tax payers money is distributed… Also I was involved with a BOE, but the members did not have the balls to take a stand… The teachers union is to powerful… Just look at how they got governor Murphy elected considering he state he would fully fund the schools and teachers pensions… Here is are two harsh fact… NJ has debt that is impossible to pay off and the state economy is shrinking… Not a good combination….

    Wednesday, February 5, 2020 at 8:52 am | Permalink
  14. Average Joe wrote:

    #13. Right on target. Above average look at things

    Wednesday, February 5, 2020 at 9:56 am | Permalink
  15. Katrina wrote:

    KATRINA wrote:
    The 2019 debt statement contained the over lap between rolling our short term interest only paying notes in Feb of 19 and turning them into permanent long term bonds in Dec of 19. We will now be paying BOTH principal and interest off our debt instead of interest only. On February 7,2020 (tomorrow as of this post) 26,194,500.00 is being paid. Leaving us with roughly 31 million in debt. A very prudent move. Perhaps now we can start to pay down our debt.
    I know this because I too had a concern when I saw our debt statement. So I asked at February 4 council meeting and was invited to talk to our CFO which I did today at 3pm.

    Thursday, February 6, 2020 at 5:25 pm | Permalink
  16. Summer Timer wrote:

    #15…. I think our gross debt is still 58 million???

    Friday, February 7, 2020 at 8:41 am | Permalink
  17. Katrina wrote:

    As of today Feb 7, the borough paid off the 26 mill of former short term notes, with the consolidation of permanent financing taken up in Dec of 2019. Leaving us at roughly at 31 million. There was an overlap shown on 2019 debt statement. So barring any new borrowing 2020 debt statement will show that 31 million number.
    I personally spoke to our CFO yesterday to confirm my understanding which I asked about at the Feb 4th meeting.
    We will now actually pay DOWN our principal in our debt for the first time in years.

    Friday, February 7, 2020 at 11:03 am | Permalink
  18. Summer Timer wrote:

    #17… I am not trying to be a wish guy… But is the 31 million gross debt or net debt??? There is a big difference….

    Friday, February 7, 2020 at 11:14 am | Permalink
  19. Teddy Ehmann wrote:

    Thank you Katrina. Not being there it ha been difficult to see just what has happened with the debt.

    Sunday, February 9, 2020 at 10:04 am | Permalink

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