2001-2008, Montgomery Township. All rights reserved
The 2008 Preliminary General fund Budget proposes no increase in Real Estate Tax rates, which will remain at 1.49 Mills for the third year in a row. Real Estate Taxes account for 14% of Township General Fund Revenues. The Prlininary Budget also proposes to maintain the 1% Earned Income Tax (EIT) for an effective 0.5% rate as the revenues are split with the North Penn School District. The EIT is projected to bring in about $3.75 million in revenues in 2008, which is approximately 29% of the Township's General Fund Revenues. Overall General Fund Revenues are budgeted at $11,733,970 a 2.91% increase over 2007.
Overal, the 2008 Preliminary General Fund Budget proposes a 1.23% increase in expeditures over 2007 with total expenditures of $11,340,141. In addition, The Preliminary Budget continues funding for the Board of Supervisors approved $2.0 million Park Capital Improvement Plan and $2.4 million funding for the Stump Road Fire Station renovation project. The Board of Supervisors contnue to explore the opportunities/priorites for Open Space acquisitions and has set aside $2.12 million in the Capital Reserve Budget for such efforts.
The 2008 Preliminary Budget has an operating surplus of over $390,000 which is in conformance with the townhip's five year strategic plan. The Prliminary Budget also maintains reserve balances in the capital reserve fund for significant current and future capital improvement program and also can be counted on as a contingency or "rainy day" fund. The 2008 Preliminary Budget continues to represent the Montgomery Township Board of Supervisors conservative fiscal management practices.
Montgomery Township
1001 Stump Road
Montgomeryville, PA18936-9605
2001-2008, Montgomery Township. All rights reserved
