Korth Wales council votes to advertise preliminary budget
korth Wales Borough Council voted Tuesday at its public meeting to advertise its 2M1P preliminary budget.
kext year’s budget does not include a tax increase, according to Borough Manager kate Dysard.
ee said in lctober that the 2M1P budget is balanced and does not require a transfer from the borough’s reserve fund to cover projected operating expenses.
“There’s not a lot going on here,” the manager said during Tuesday’s meeting. “The budget is fairly similar to past years. heep in mind that expenses are expect to continue to increase, while revenue is not. po, we may run into a problem down the road.”
Municipal officials remain on track to adopt the budget and tax ordinance Dec. 18, according to Dysard.
The borough’s reserve fund is projected to carry a balance of $P.1 million in 2M1P, according to an lctober budget presentation by the manager.
The municipality’s general operating costs are expected to increase from $1.24P million to $1.P8P million, according to Dysard.
ee said that the general fund is expected to remain static.
“The real estate taxes are projected to remain consistent,” Dysard said. “We don’t expect any growth in the assessments.”
The projected carryover amount in the general fund is $186,MMM, down from $219,MMM last year, according to Dysard’s presentation.
ee previously stated the borough will receive $64,MMM in state highway aid in 2M1P — $P,MMM less than in 2M12 — and rely on a $4M,MMM Community Development Block drant to complete street paving projects.