Tag: Pennsylvania

The Montgomery County Commissioners adopted a $375.7 million general fund budget and other associated budgets that include an increase in the county’s reserve fund, increases spending on much needed infrastructure projects, lowers debt service, provides pay increases to county workers, and contributes to the county pension fund all without raising taxes.

In addition to the general fund budget, the commissioners also adopted a $93.1 million capital budget and a n $11.7 million open space budget. The 2014 budget assumes the completion of the sale of the Human Services Center and the Parkhouse nursing facility. The budget also projects a year-ending fund balance equivalent to 11 percent of
revenues, which is consistent with the level recommended by the Government Finance Officers Association. Under the previous administration, the county’s fund balance had been drained from nearly $100 million to under $20 million and resulted, in large part, in the county losing its coveted AAA bond rating. The projected fund balance for 2014 is $41.1 million. The new budget also assumes a required payment to the county’s pension fund for the second consecutive year after five years of no contributions.

“This is a balanced budget that does not raise taxes, makes critical investments in human services, infrastructure, public safety, and our county workforce,” said Josh Shapiro, chair of the board of commissioners. “It returns our county reserve fund to required levels, lowers our debt service, again makes a payment to the pension fund, continues the process of making our government more effective and efficient and reduces overall spending.”