Every year, the University makes a voluntary contribution to the Borough and the Township operating budgets in addition to its tax payments. This year, the University has increased its total community contribution — also called a payment in lieu of taxes, or PILOT — to $1.7 million, University officials announced last month.
In 2011, the University made a contribution of $1.2 million to the Borough operating budget as the last annual gift under a six-year agreement. In 2012, the University will contribute $1.7 million to the Borough, of which $250,000 is to be used for transition expenses incurred as the two municipalities consolidate under a single government starting on Jan. 1, 2013.
