Budget & Fiscal Plan

LOWER GWYNEDD TOWNSHIP APPROVES 2010 BUDGET INCLUDES NO TAX INCREASE FOR 14TH CONSECUTIVE YEAR

The 2010 Budget and Fiscal Plan ("the Budget") was approved by the Board of Supervisors at the Regular Meeting held on December 22, 2009. The 2010 Budget reduces General Fund expenditures by 4% when compared to the 2009 Budget. The millage rate will remain at 1.117 mills. A home assessed at $350,000 will pay $390.95 in Township real estate taxes in 2010. Expenditures were reduced to match revenue projections. Surplus funds were allocated to balance the operating budget. The Board was pleased to keep the local tax burden of its residents the same for another year but a cautionary note was sounded.

The Manager noted that there are no funds in the Budget to replenish the Capital Reserve or Open Space Funds. Capital Reserve funds are used for projects such as repaving roads, matching county, state and Federal grants, and installation of traffic signals. Open Space funds are used to purchase land for active or passive recreation (playing fields and trails). The Township will use Capital Reserve funds to match a $500,000 State grant for sidewalks and lighting along Bethlehem Pike, as well as for a 20% share of costs to complete a trail system along Penllyn Pike.

The Manager cited the Township's conservative fiscal policies, light debt load, and strong balance sheet as the main reasons for not raising taxes in 2010. The Manager stated that, without a significant turnabout in the economy in 2010 the Board and staff will face a significant challenge to maintain the level of services that the residents of Lower Gwynedd Township have become accustomed.

Budget & Fiscal Plan Documents

• 2009 Approved Budget (69 page(s), 172 KB)
• 2010 Approved Budget (73 page(s), 176 KB)
• 2011 Approved Budget (58 page(s), 155 KB)
• 2012 Approved Budget (58 page(s), 155 KB)
• Supporting Documentation for 2010 Budget (96 page(s), 8 MB)