2015 Draft Budget Approved
The 2015 Draft Budget of $990,455.00 has been approved and authorized for public comment. This sum includes $481,455 in General Fund Expenditures, $466,000 in Capital Expenditures and $43,000 in Liquid Fuels (highways) expenditures. The Borough is faced with increasing maintenance and insurance costs and stagnant or decreasing revenues, most notably the Earned Income Tax. It was with great reluctance, but collective agreement, that Borough Council is advertising a proposed .5 mill real estate tax increase. The increase amounts to a $76.00 increase in the annual real estate tax paid to Schwenksville Borough for the median home assessed value of $152,047, which is about 21 cents per day. This is an 11% increase and is the first tax increase in since 2007.
The 2013-2014 winter hit the Borough hard. Not counting winter expenses for Nov. through Dec. the Borough is $19,285 over budget for winter maintenance and $16,800 over budget on road repairs. The Borough’s emergency cash reserves are projected to decrease from 2013 and the forecast for another harsh winter is a significant financial concern. At the same time, the Borough feels a commitment to continue progress addressing aging infrastructure and public safety. The Borough’s ability to leverage cash reserves to access state and federal grant money is critical to the Borough’s long term capital plan. The Budget includes $466,000 in capital projects financed predominately with state and federal grants that reimburse the Borough for work completed. Those projects are not possible without sufficient cash on hand. They are outlined in the Borough Newsletter which will be mailed to Residents in the near future.
Borough Manager Anne Klepfer welcomes any resident to come speak to her about the proposed budget and the specific projects projected for 2015 and beyond. It is recommended that you call in advance to make sure she is available. The Borough is accepting public comments in writing or in person at the December 11th Council Meeting at which time Council will vote on both the proposed Tax Ordinance and 2015 Budget.