1. 2017 Mid-Year Budget Review
TREDYFFRIN TOWNSHIP

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

3. 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

4. 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

5. Transfer Tax History

6. 2017 GF Revenue Performance (Q1 & Q2) Where the $13.8M came from:

7. 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

8. 2017 GF Expenditure Performance (Q1 & Q2) Where the $9.3M was spent:

9. 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

10. End of Presentation