The Newtown Township Board of Supervisors will consider a 2013 budget at a meeting tonight. The meeting starts at 7:30 p.m. at the township Adminisration Building. Click here to view the full agenda.
A draft of the township's budget that was presented by Township Manager Kurt Ferguson earlier this month would keep property taxes in the township flat for residents next year. However, in order to make the numbers work, $550,000 from township reserves would have to be used.
The spending plan presented by Ferguson calls for $11 million in spending and would leave the township with about $36,000 in reserves.
According to figures presented by Ferguson, the property tax millage for township residents would remain at 2.5 in 2013 if no changes are made to the draft budget.
Earned income tax accouts for 61 percent of total revenue for the township, Ferguson said. In 2013, the township is estimated to collect approximately $6.4 million in earned income tax. That figure, which is below the 2011 collection, is being estimated due to a sluggish economy.
At the last supervisors meeting, board member Rob Ciervo said the township has a revenue problem due to broader economic conditions.
"In six years, revenue has increased 3.6 percent," he said, noting that is below the level needed to fund salary increases and other rising costs in the township.