October Budget Workshop Meeting:
A summary of the meeting:
Let me start by saying that Diane and the other employees have done a terrific job of saving money. For example, Diane has been able to save about $1000/year on telephone and Internet service for the township.
Diane also made the meeting much more efficient by providing the supervisors with a good budget information, and estimates of the 2008 expenses. The township has been blessed with additional money expected in 2008. Remember, at the end of this year we will have $200,000 in the operational reserve fund. The table below starts with an early October estimate of a $111K surplus. This includes an an additional $50K into the operational reserve fund for 2008. The black numbers in the first column show the source of the additional surplus. For example, the police pension contribution is $37 K below the estimate, however, this is a one year only event. Next year will likely be closer to the estimate. The red numbers in the first column are how we plan using the surplus. We are essentially taking the unexpected earned income tax increase and using most of it to reduce the property tax. Even with this proposed tax decrease, programs are actually increasing in their funding, including giving to the fire department. It is likely that this budget will be approved for advertising at the November Meeting, followed by likely adoption in December.
|
Budget Worksheet |
|
Budget Surplus |
|
Surplus (From early October Estimates) |
|
$111,375.00 |
|
Decrease in est. police MMO (1 year only) |
$37,000.00 |
$148,375.00 |
|
Increase in EIT receipts for 2008 (long term) |
$88,227.00 |
$236,602.00 |
|
Giving up on 222 left turn arrows ( a result of the PenDOT meeting) |
$20,000.00 |
$256,602.00 |
|
Allocation of Surplus: |
|
$256,602.00 |
|
Fire Company Pagers (required by County 1 year only) |
-$20,000.00 |
$236,602.00 |
|
Additional Line striping |
-$3,500.00 |
$233,102.00 |
|
Payroll Increase |
-$1,040.00 |
$232,062.00 |
|
Truck Purchase (replace older vehicle) |
-$80,000.00 |
$152,062.00 |
|
Paving Equipment Rental |
-$20,000.00 |
$132,062.00 |
|
Additional Road work |
-$20,000.00 |
$112,062.00 |
|
Increase to Fire Co. Contribution (currently $85K will be $89,250) |
-$4,250.00 |
$107,812.00 |
|
Crime Alert Donation (pending additional financial info from this charity) |
-$500.00 |
$107,312.00 |
|
Salt Shed improvements |
-$15,000.00 |
$92,312.00 |
|
Storm Water Improvement fund |
-$30,000.00 |
$62,312.00 |
|
1/8 mill Property tax decrease |
-$60,000.00 |
$2,312.00 |
I still have copies of the Fredrick Bastiat book “The Law” available to Maidencreek residents. Email me if you want one.
Paid for by Roy Timpe