2020 Budget preparation is underway. But, as reported during the 2019 Budget public approvals this past fall, the Township faces fiscal challenges to balance the budget.
You may recall that the 2019 Budget is balanced using $164,000 from the unappropriated fund balance (aka, savings). The 5-Year General Fund Forecast through 2024 is projecting increasing budget deficits and a declining fund balance. Important receipts – notably earned income tax (52% of total General Fund revenues) – continue to exhibit a flat to decreasing trend. And, expenditures for necessary services including police, fire, and public works are increasing at rates higher than inflation. Compounding the challenge to balance the budget is the growing need to repair or replace capital infrastructure .
At this early stage in the 2020 Budget preparation, the Board of Supervisors has not determined a specific strategy to address the current fiscal challenges. However, it does appear likely that an increase in reliable tax revenues will be necessary through the imposition of a property tax millage increase (currently 1.00 mills). In an effort to provide residents with detailed information about the 2020 budget, the Township developed a list of frequently asked questions. These questions are divided into three categories. Click on the categories below to explore this information.
If you have budget-related questions that are not answered here, please contact Director of Finance Michael Lynch at firstname.lastname@example.org or (610) 436-5108 x101.
General Information. For example:
- What is the Township budget?
- How is a township budget different than personal and business budgets?
- Is a budget required?
- What does the budget consist of?
General Fund Information. For example:
- What is the General Fund?
- What are some of the principal sources of revenue?
- What is the current Township Property Tax?
- What are some of the principal expenditure categories?
- Is the 2019 General Fund Budget balanced?
- Is there a correlation between tax revenue and land use?
- Is the Capital Reserve Fund related to the General Fund?
Trends, Forecasts & Alternatives. More information to be posted soon…