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2010 Final Budget

Board Adopts Balanced Final Budget - No Tax Increase in 7 Years!

The Montgomery Township Board of Supervisors adopted a Final Budget for 2010 which provides for no tax increase for the seventh consecutive year. Despite anticipating a 7.1% reduction in tax revenues, the Final Budget is balanced while continuing funding for all current Township services and capital programs. "We scrubbed this budget really well this year, and we took the worst possible estimates of our revenues, and then spent almost all of our time on the expense side," said Jeffrey W. McDonnell, Township Supervisor.

"Despite the difficult economic conditions of the past two years, Montgomery Township remains in a strong financial condition" said Michael J. Fox, Board Chairman. He further noted that "Efforts to trim the 2010 Budget included reductions in professional services expenses, increasing the co-pay provisions in the health care benefit plan, freezing salaries for Department Heads, freezing new hires and eliminating out of state training events"

The Final 2010 Budget provides for carrying a $2,300,000 General Fund Balance into 2010 and projects increasing the fund balance by $113,000 based on 2010 Revenues exceeding Expenditures. The General Fund Revenues are projected at $11.05 million, which is 7.1% lower than the 2009 General Fund Revenue Budget. General Fund Expenditures are budgeted at $10.9 million representing a 5.72% decrease from the 2009 Budget. In addition to the General Fund Budget, Revenues and Expenditures budgeted for the Fire Fund (04), Park and Recreation Fund (05), Basin Maintenance Fund (06) and Street Light Fund (07) are all balanced utilizing current year revenues and/or dedicated reserves.

The 2010 Budget also maintains reserve balances in the capital reserve funds for significant current and future capital improvement programs and continues to represent the Montgomery Township Board of Supervisors conservative fiscal management practices. As of January, 1, 2010, the Township projects combined Operating and Capital Reserve Fund Balances of over $18 million.

"In an economic environment where materials costs have risen significantly and revenue performance is weakened, the 2010 Budget represents outstanding work by our staff and the Board to minimize the tax burden on citizens while maintaining high quality services," noted Supervisor Robert Birch. "Our Board and the Department heads worked diligently during the Budget Workshop meetings to determine cost savings while not sacrificing the first-class services provided to our residents and businesses."

Please click the link below for a summary of the budget and copies of the presentation slides from the Final Budget adoption on December 14th. The Budget is available for review at the Township Building during normal business hours of 9:00 am - 5:00 pm.