Tuesday, January 29, 2013
Supervisors voted unanimously Monday to move almost all of the $1.3 million surplus from the 2012 budget to its reserves fund
- GOVERNMENT
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Tuesday, January 29
With a $1.3 million surplus at the end of the fourth-quarter 2012, Montgomery Township Supervisors voted unanimously Monday night to transfer $1.1 million into the reserves fund. According to The Reporter’s Dan Sokil, Montgomery Township Finance Director Shannon Drosnock reported the surplus was due to strong revenues in 2012 from building permits and earned income taxes from the Wegmans project at Montgomery Mall and several housing permits. Total revenues in 2012 increased from the year prior by about $400,000 to $12.1 million, Sokil reports. The increase is attributed to $345,000 in building permit revenues and $159,000 more in earned income tax revenues, according to the report. Expenses in 2012 were in line with or below estimates, …
Friday, January 11, 2013
Jennifer Lawson of The Reporter reports that the district must find a way to make up for a $10 million budget gap, and may petition the state to allow them to go above the Act 1 1.7 percent cap on tax increases
- SCHOOLS
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Friday, January 11
Jennifer Lawson of The Reporter reports that North Penn School District is eyeing a 3.8 percent property tax increase in 2014, in order to close as much as a $10 million projected budget gap. In doing so, the district may have to apply for an exception with the Department of Education to allow more than the 1.7 percent cap on a tax increase set by Act 1 of Pennsylvania. District Business Administration Director Bob Schoch told the school board this week that the district implemented $20 million in budget balancing initiatives since 2010, which were one-time options. Futhermore, the three charter school applications under consideration could impact the budget by as much as $7 million, Lawson reported. One way the district could bring in …
Sunday, December 23, 2012
The millage rate in the township remains at 1.49 mills
Montgomery Township on Dec. 17 passed an $11.8 million budget with a $37,690 surplus. The millage rate in the township remains at 1.49 mills. Montgomery Township has not had a tax increase for more than nine years. In 2006, supervisors reduced the millage rate from 1.61 mills to 1.49 mills. The 2013 budget also sets Homestead Exemption at $30,000. More than 75 percent of property owners participate in the homestead exemption program, totaling $308,000 in annual tax relief, according to Finance Director Shannon Drosnock. General Fund Revenues in 2013 are set at $11.872 million, up from $11.48 million in 2012, an increase of 3.4 percent. General Fund Expenses are set at $11.834 million, up from $11.46 million in 2012. Of those total revenues…
Friday, December 21, 2012
Council voted unanimously Wednesday to pass the 2013 budget for the borough, with the millage rate remaining at 3.5 mills
Lansdale Borough Council unanimously passed a balanced $31.25 million budget Wednesday night, and holding taxes steady at 3.5 mills. “I thought everyone would want to attach their name to a ‘no tax hike’ (vote)," said council President Matt West. The millage rate in Lansdale remains at 3.5 mills. One mill yields $1 in revenue for each $1,000 of assessed value. For example, a homeowner with a house assessed in Lansdale at $123,000 would pay a property tax bill of $430.50 a year. Proposed expenditures and revenues stand at $31,249,000. For the Lansdale resident, 12.08 percent of his or her real estate tax bill goes to Lansdale. Montgomery County gets 10.88 percent of the bill and North Penn School District receives 77.04 percent of the bill…
Saturday, August 11, 2012
AMS Planning and Research gave early recommendations to the 311 W. Main Task Force in Lansdale Thursday night on what could be developed at the former arts center
The 311 W. Main St. former arts center needs between $3 million and $4 million to fix code issues, but whomever runs the facility will break even in the first five years. AMS Planning and Research gave early recommendations to the 311 W. Main Task Force Thursday night for the future of the former arts center. Recommendations were culled from surveys, community interviews and market research. According to a report in The Reporter, the bottom line is the borough needs to front a lot of money to fix the center, but a revitalized arts center could be a success in Lansdale. According to the article, the task force now needs to mull over the recommendations and continue discussions on what to do with the building before bringing a solution to …
Tuesday, August 7, 2012
Lansdale Beer Fest and the Clean and Green Extravaganza brought in more than $30,000 for the library
Lansdale Public Library’s operating budget is tracking right on point as far as expenses and revenues. The best fiscal news of it all – the library is at 91 percent of its fundraising goal of $33,000. According to The Reporter, Lansdale Beer Fest and the Clean and Green Extravaganza in June and July brought in $30,215. In fact, according to the article, even contributions are at a high. Tom Meyer, director of the library, said in the article that used book sales last Friday brought in $120, more than double its average. The total revenue budgeted for 2012 is $570,500, according to the article. Revenues are at $410,000. Expenses are budgeted for $580,440, of which $349,660 has been spent. A big capital need presently is new furniture, at a…
Wednesday, April 25, 2012
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 …
Monday, January 30, 2012
Finance director Shannon Drosnock said Montgomery Township's 2011 budget ended with increased revenues and below budgeted expenditures
Montgomery Township's 2011 budget ended with a $1.27 million surplus and actual revenues exceeding the original budget by 6.34 percent. Expenses were 1.3 percent above 2010 and 4.35 percent below the original budget for 2011. That $1.27 million surplus will fund the township's open space acquistion, the 14-year road program and the 10-year equipment replacement program. "(The 2011 budget) ended with $3.799 million in the unreserved General Fund balance, an increase of $1.27 million," said finance director Shannon Drosnock at a recent supervisors meeting. "The budget for 2012 assumed we would have a starting fund balance of $2.6 million in the General Fund. In order to be in accordance with that, we are asking the board to consider …
Wednesday, January 11, 2012
The school board is targeting to pass a $203.9 million budget for 2012-2013
You could pay 2.9 percent more in taxes next year. Your senior students could opt out of gym next year. North Penn School District could not provide money to the International Spring Festival next year. Foreign language could be nihil. Class sizes could increase. And class with less than 20 students could be gone, except in special education and gifted. That is what the North Penn School Board has on the table right now for the 2012-2013 budget. North Penn School District is looking to raise taxes 2.9 percent next year and cut 41 items from the budget in order to get to a $203.9 million price tag for 2012-2013. The current millage rate is 21.9564. The increase would bring the rate to 22.5931 mills. One mill equals 1/1000 of a dollar or 1/…
Tuesday, November 15, 2011
Supervisors will approve final budget at its December 12 meeting
Montgomery Township Board of Supervisors approved Monday a preliminary $11.4 million budget with no increase in real estate taxes. The proposed budget includes a surplus of $36,385. Supervisors will vote on the final budget at their December 12 meeting. Real estate tax millage remains at 1.49 mills. One mil equals $1 for every $1,000 of taxable property value. Thus, Montgomery Township residents pay $1.49 for every $1,000 of taxable property. The real estate tax rate was reduced from 1.61 mills in 2003 to 1.49 mills in 2006. The Homestead Exclusion remains in the budget, at $30,000. More than 75 percent of taxpayers participate in the program, providing $308,000 in annual tax relief. Finance Director Shannon Drosnock said township staff …
Pat
10:29 pm on Saturday, January 12, 2013
I agree this is a disturbing trend. Public education has been the backbone of America and we are smashing it to bits by privatizing it. This will be devastating to our inner cities as anyone who can afford it will pull their children out and only the poorest of the poor and the vulnerable will be left and they will suffer from dwindling resources. And once it is smashed how would we return once … more ›