2017 Mid-Year Budget Review TREDYFFRIN TOWNSHIP

PRESENTATION OVERVIEW Review 2017 revenue budget performance (unaudited financial results) Review 2017 expenditure budget performance (unaudited financial results) Review 2018 Budget Planning Process

2017 GF Revenue Performance (Q1 & Q2) Collected $13.8mm or 71.8% of the Total Operating Revenue Budget ($19.3M) $362k or 2.7% higher than same period in 2016 $13.5M or 72.8% of the 2016 Total Operating Revenue Budget ($18.5M) Collected $8.1M or 97.2% of the budgeted RE Tax Revenue 0.1% higher than the same period last year

2017 GF Revenue Performance (Q1 & Q2) Collected $2.2M or 77.5% of the budgeted Transfer Tax Revenue June had 113 total transfers – almost double the volume of May Includes $584k of large RE Transfer Taxes (any transfers greater than $25k) Total Building Permit Revenue of $1.7M or 96.2% of the budgeted amount Increase of $125k over the same period last year Continued growth in commercial property activity

Transfer Tax History

2017 GF Revenue Performance (Q1 & Q2) Where the $13.8M came from:

2017 GF Expenditure Performance (Q1 & Q2) Expended $9.3M or 48.1% of the 2017 Operating Expense Budget ($19.3M) $360K or 4% more than the same period in 2016 Increase of $141k or 3.84% in salaries Contractual increases as well as being fully staffed per the budget 9.3% increase insurance premiums Represents an estimated $130k increase over the prior year Offset slightly by a $40k decrease in HRA usage Increase of $505k in retirement expenses Timing difference of contributions made to the Police Pension Cash contribution to Library down $342k due to shift into payroll

2017 GF Expenditure Performance (Q1 & Q2) Where the $9.3M was spent:

2018 Budget Planning Process 2018 Budget planning underway Distribution of 2018 “Preliminary” Budget: Thursday, November 2nd Public presentation of the 2018 “Preliminary” Budget to BOS: Wednesday, November 8th Adoption of 2018 “Preliminary” Budget: Monday, November 20th Discussion and changes made to 2018 “Preliminary” Budget: Wednesday, November 21st – Thursday, December 14th Distribution of 2018 “Final” Budget to Board of Supervisors: Thursday, December 14th Adoption of 2018 Budget with public hearing: Monday, December 18th

End of Presentation