First Quarter Montgomery Twp. Revenues Up 50 Percent Over 2011
Expenses are almost 10 percent above the same period in 2011
About 94 percent of Montgomery Township revenues for the first quarter of 2012 are tracking nearly 50 percent above the same period from 2011. Finance director Shannon Drosnock gave an update on the results of the first quarter 2012 budget Monday night. "This is good news going forward," Drosnock told supervisors. The fund balance for the General Fund at the end of the first quarter 2012 is $5.056 million, an increase of $721,000 over the first quarter balance for 2011, she said. "The three most significant revenue streams contributing to the increase over the prior year are the mercantile tax returns of $63,000 above the same period prior year; the implementation of the Local Services Tax, which is dedicated to funding public safety; and …
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