News Winter 2016
Township Begins 2016 on Solid Financial Footing For the fourth consecutive year, Lower Providence Township realized a year-end General Fund surplus, ending 2015 with a surplus and turning around a budgeted deficit of $407,890. Pending the final audit, the estimated year-end surplus stands at $438,000. Sound fiscal policies and rigorous oversight, coupled with revenues from earned income taxes and real estate transfer taxes, kept the Township on solid financial footing. The performance earned the Township an AA2 credit rating from Moody's and upgraded the Standard and Poors rating two steps to AA stable. The 2016 General Fund Operating Budget of $9,998,465 includes less than one percent increase (.55%) in expenditures and carries no tax millage increase for residents. The expenditure increase includes contractual wage increases for police and non-uniformed personnel. Other Township expenditures remain relatively steady or have decreased for administration, finance, tax collection, legal, energy, engineering, community development, pension contributions and commercial insurance.
The 2016 budget will continue allocating revenue received from the liquid fuels tax to repay debt funded by liquid fuels. However, beginning in 2017, the Township will be in a position to fund road reconstruction projects from annual liquid fuels revenue, allowing for a systematic approach to maintaining critical infrastructure.
With this positive financial position, the Township remains committed to providing excellent services and programs, ensuring a safe place to live, work, and play, and proactively supporting the business community.
The estimated revenue from earned income taxes for 2016 is $5,100,000, which represents an increase of $22,817 over the 2015 budgeted amount of $4,877,183. Real estate transfer taxes for 2016 are budgeted in the amount of $380,000, an increase of $20,000 over the previous year's budget. The Township's debt service, comprised of the General Washington Country Club (The Club at Shannondell) purchase, the Library building, police vehicles, technology hardware, road reconstruction projects, and heavy equipment, is funded completely by the associated debt service tax millage. This eliminated transfers to the debt service fund from the unrestricted capital fund beginning in 2015.
Where Do My Taxes Go?
Inside This Issue
Contact Information ...........................2 2016 Boards & Commissions...............2 New Supervisors Sworn In ..................4 Police Chief Carroll Retires -New Chief Turtle Sworn In..............5 Young Scouts Make a Difference .........6 Smoke & Carbon Monoxide Detectors 7 Arcola Road Bridge Update .................9
Salt Alternative for Sidewalks ...........10 Snow Removal..................................11 Library News & Programs.............12-13 Township Earns Award......................14 Sewer Authority News ......................15 Household Hazardous Waste & Paper Shredding Events .............16-17 Parks & Recreation News.............19-22
The 2016 Budget can be viewed online: www.lowerprovidence.org/finance.htm
Your Real Estate Tax bill is levied by three different taxing authorities: Lower Providence Township, Methacton School District, and Montgomery County. Real estate tax millage for each is approved every year by the governing bodies of those authorities. A millage calculated as $1 of taxes on every $1000 of a property's assessed value. The annual tax bill for homeowner in the Lower Providence Township with an average assessment of $167,402 is $295.80. Here is the breakdown of how those property taxes are spent: Of your total property tax bill, 86% goes to Methacton School District, 9% percent goes to Montgomery County, and 5% comes to Lower Providence Township.
We're Open for Business If you're looking for a home for your business, there's is no better place than Lower Providence Township. You'll have access to major highways and a skilled workforce and be part of a great community. We have the tools and resources to meet your needs and our professional team is ready to help. If you are starting a business, relocating or expanding, let us show you what Lower Providence Township has to o f f e r. C o n t a c t B i l l R o t h , broth@lowerprovidence.org, 610-635-3519.
Lower Providence Township, Montgomery County, Pennsylvania • www.lowerprovidence.org