Board balances budget deficit
Four weeks after the West Norriton preliminary 2014 EuGJHW DnG D SURMHFWHG GHficit of $144,989 were introduced to the public, townVKLS RIfiFLDOV KDYH IRunG increased revenues for 2014 and decreased costs to balance the budget.
Township Manager Jason Bobst told the board of commissioners and about 15 residents Oct. 29 that the projected health care increase of 11 percent had been reduced to a 7 percent increase, shaving $58,000 from the budget.
A possible grant from the Montgomery County Conservation District cut an additional $10,000 from the township budget.
On the revenue side of the budget, the real estate transfer tax projection was increased from $250,000 to $300,000, an increase of $50,000 in revenue.
“We hit our [transfer tax] budget number for 2013 so ZH DUH FRnfiGHnW WKDW ZH ZLOO be able to hit that number safely in 2014,” Bobst said. “We think it will be a buyers’ market for homeowners.”
For similar reasons, the building permit revenue projection was increased by $55,000, from $100,000 to $155,000.
“The general township fund no longer has a fund GHfiFLW IRU 2014,” BREVW VDLG. “The general fund will continue to provide funds to the emergency services fund.”
Four weeks ago, the preliminary 2014 township budget of $9,797,657 was presented to the commissioners ZLWK D GHfiFLW RI $144,989 between projected revenue and projected expenses.
The township’s current real estate millage rate is 3.487 mills. For a home assessed at the township average of $119,000 the tax bill is $415, Bobst said.
Board Vice President David McKenzie asked whether the golf course budget deficit would be reduced from $37,820 before the budget is adopted in December.