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
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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, …
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…
Saturday, November 10, 2012
Increased fundraising efforts and smart spending have resulted in a surplus, which will go toward building improvements in 2013. Plus, the idea of a cafe at the library has been tabled for now
Due to improved fundraising efforts and some wise spending, the Lansdale Library budget is expected to have a $20,000 surplus this year. "The latest draft of the budget has us putting that surplus into building improvements for next year," said Lansdale Library Director Tom Meyer during a library board of trustees meeting Wednesday night. Meyer said the library board will look to Spiezle Architect's recent facilities assessment report on what to do with improvements in 2013. "We will either revamp our lighting — which, to me, makes sense because we'll get payback on that with decreased use in electricity — or refresh the building: carpeting, paint, ceiling tiles," Meyer said. Meyer was asked if improvements include the idea of bringing a …
Saturday, November 3, 2012
An accountant for North Penn School District has asked the finance committee for guidance on where to assign the extra money in order to complete an audit
The North Penn School Board Finance Committee has been tasked to figure out where to assign nearly $10 million in surplus money. According to Linda Stein of The Reporter, the district’s accountant informed the finance committee this week that state law requires assignment of the money, and must be done so in order to complete an audit. District Business Administration Director Robert Schoch recommended $2.8 million be placed in capital reserves and $5 million deposited into an account for employee pensions, according to the article. Another $2 million is recommended to cover employee medical self-insurance, according to the article. Read more about the school district surplus at this link.
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 …
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 …
Monday, May 23, 2011
Each year, Montgomery Township sells surplus vehicles through an agreement with J.J. Kane Auctioneers. The sales bring in about $19,000.
For Sale Cheap: Three Ford Crown Victorias, a Ford Expedition and a Dodge Intrepid. Extensively used by Montgomery Township Police and Administration. Earlier this month, Montgomery Township supervisors approved the auctioning of five surplus vehicles through J.J. Kane Auctioneers in Conshohocken. The five vehicles to be auctioned are 2003, 2006 and 2007 Ford Crown Victorias; a 2006 Ford Expedition and a 2001 Dodge Intrepid. All vehicles, except for the Intrepid, were used by Montgomery Township Police. The Intrepid was a code enforcement vehicle, according to township Manager Larry Gregan. “In the past year, we’ve received about $19,400 from the sale of these surplus vehicles, and we hope to have a similar return this year on these five …
Tuesday, March 15, 2011
Supervisors publicly stated Monday night their stance on the opposition to the commercial airfield use of the surplus property on the Willow Grove Naval Air Station-Joint Reserve Base.
Consider it a no fly zone in Montgomery Township. The board of supervisors Monday night publicly stated its opposition to the commercial airport use of the 892-acre surplus property of the Willow Grove Naval Air Station-Joint Reserve Base. “The board has previously and continues to take the position in opposition to keeping the airfield open,” said Montgomery Township manager Larry Gregan. Montgomery Township supervisors will make their stance official through an ordinance at their next meeting. And like Warrington Township did last week, Montgomery Township hopes to appoint one of its own—Supervisor Candyce Chimera—as a member of the Horsham Land Reuse Authority (HLRA). “The board felt somebody out there should be going to the meetings,” …
Friday, January 28, 2011
Financial review of 2010 shows a $749,000 surplus
On Thursday night, members of the Montgomery Township Finance Committee held a meeting to discuss the close of the 2010 budget, as well as the budget for 2011. Several committee members were not able to make it, due to the recent snowstorm. Montgomery Township ended 2010 with a surplus of $749,000. Of the surplus, the township approved moving $393,000 from the general fund to the township's capital reserves. During 2010, the township tracked equal to 2009 from January to July. From August through December, they were above the numbers from 2009. The township ended 2010 one-half percent under its tax budget. They also came in at 5.1 percent under budget on the expense side. Additionally, delinquent taxes were down, thanks in part to …
Jaymee Douglass
11:17 am on Sunday, November 4, 2012
Or help teacher with supplies, as many are taking from there own pockets. more ›