Thursday, September 12, 2024, 7:30 PM: Board of Commissioners Working Session - Introduction and Presentation of FY 2025 Preliminary Proposed Budget

• Click here to view the meeting presentation. 

Tuesday, October 1, 2024, 7:00 PM: Special Meeting to Consider Adopting the Fiscal Year 2025 Proposed Budget

• Click here to view the meeting presentation.

Thursday, November 7, 2024, 7:00 PM: Special Meeting to Consider Adopting the Fiscal Year 2025 Annual Budget and Ordinance Adoption

• Click here to view the meeting presentation. 

The schedule is subject to change, depending on revisions as a result of the Board of Commissioners and public comment.

The Fiscal Year (FY) 2025 Township Budget as presented:

- Holds the current total property tax rate at 5.922 mills 

- General fund revenues, fund equity, and expenditures are balanced

- Wastewater and refuse fees remain unchanged

The total FY 2025 Budget for all operating and capital funds is $81,289,116*

- General fund totaling $49,925,345, all other operating funds totaling $21,644,853*

- General fund permanent improvement capital fund totaling $6,574,418

 - American Rescue Plan Act (ARPA) funding in the amount of $12,132,654 bringing the total budget to $93,421,770*

The 2025 fiscal plan achieves:

- Maintains fund equity at an unrestricted fund balance reserve of three months of operating expenditures

- An increase in the Township's cash reserve beyond previous projections as earned income and business taxes continue to grow

- A general fund balance available after reserve that meets a Generally Accepted Accounting Principle (GAAP) standard

• Exceeding the minimum two (2) month Government Finance Officers Association (GFOA) best practice and beyond the minimum of one month as prescribed in the fund balance policy

*Please note that the totals were updated on 9/27/2024 to reflect changes to Other Post Employment Benefits (OPEB).

A property owner will pay $1.00 in property tax for every $1,000 of the taxable appraised value of the property.

If the Montgomery County assessed value for an Abington Township homeowner’s property were set at $150,000, then one mill of taxes would equal $150.00. At the proposed Township tax rate of 5.922, the Township taxpayer will pay $888.27 in Township property taxes.

It is important to note that this is the Township property tax only and does not include trash and sewer fees.

Revenue Replacement Standard Allowance

U.S. Department of Treasury Clarifying Language per March 29, 2024, State and Local Fiscal Recovery Funds (SLFRF FAQ) Frequently Asked Questions 

• "Recipients may elect a “standard allowance” of up to $10 million to spend on government services through the period of performance. The standard allowance is available to all recipients and offers a simple, convenient way to determine revenue loss, instead of using the full formula specified in the 2022 final rule. The 2023 CAA codified the option for recipients to claim up to $10 million in revenue loss funds" (page 23).

• "...under the 2022 final rule, payroll for government employees, contracts, grants, supplies and equipment, rent, and the many other costs that governments typically bear to provide services are costs that could comprise the costs of government services, and are eligible uses of funds" (page 24).

• "...Treasury encourages recipients to use their funds for investments that serve the needs of their communities and build a stronger and more equitable recovery" (page 24). 

"Treasury has clarified that a recipient may enter into an interagency agreement, including a memorandum of understanding, between departments and agencies within a recipient's government's and treat those funds as obligated for purposes of SLFRF if the interagency agreement meets certain conditions...."

Should you need any further assistance navigating the budget book or have any questions, please email the Finance Department at onlinebudgetbook@abingtonpa.gov.

www.abingtonpa.gov/budget

Table of Contents

Budget Message