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PARSIPPANY — After blowing past a state deadline to approve the 2021 budget, the administration and Township Council are going back to the drawing board to close a massive gap in their first COVID-affected spending plan.
The council on Tuesday tabled an ordinance that would have approved a $5 million emergency loan to fill a gap in an estimated $83 million budget for next year. Council members said they needed more time and information to consider accumulating debt as they deal with an estimated $9 million revenue shortfall blamed largely on the pandemic.
The council voted to introduce the loan ordinance two weeks ago, but unanimously slammed the brakes on the process Tuesday.