FINANCIAL PLANNING COMMITTEE

THURSDAY SEPTEMBER 15, 2005


DRAFT - SUBJECT TO AMENDMENT BY FINANCIAL PLANNING COMMITTEE UNTIL APPROVED


The regular meeting of the Newtown Township Financial Planning Committee met on Thursday, September 15, 2005 in the meeting room of the Township Municipal Building.

Members present were Anne Goren, Robert Dieterle, Elaine Gibbs, and Allen Fidler. Excused were Sarita Tirpak, Ryan O’Keefe, Philip Newmuis, Phil Vance and Township Manager Bob Pellegrino.

Also present was John Boyle, Assistant to the Township Manager.

Chairman Goren called the meeting to order at 7:30 P.M.

MINUTES OF MAY 19, 2005:

The approval of the minutes from the May 19, 2005 meeting has been deferred until the October 20, 2005 meeting.

MINUTES OF JULY 21, 2005:

The approval of the minutes from the July 21, 2005 meeting has been deferred until the October 20, 2005 meeting.

OLD BUSINESS

Departments 2006 Capital Request

Ms. Gibbs advised the Committee members that the BOS would begin discussions with regards to the 2006 Operating Budget at the Work Session schedule for Monday, September 19, 2005.

5 Year Projections

Ms. Gibbs advised the Committee members that the 5 Year Projections were not available at this time. The Committee members commented that they did not see any major changes within the Township with the exception of the development of the Woll Tract.

NEW BUSINESS

OTHER BUSINESS

The Committee members discussed Mr. Fidler making a presentation to the BOS with regards to the proposed sources to generate new revenue for the Township. Mr. Fidler advised that he is waiting on information from Mr. Pellegrino. The Committee members agreed to have Mr. Fidler make the presentation at the Township’s formal budget meeting on November 9, 2005 at 6 P.M.

The Committee members discussed Act 72 and the possible impact to the Township.

The Committee members discussed the Township’s Non-Residential Earned Income Tax.

Ms. Gibbs advised the Committee members that at this time the Township are receiving more Residential Earned Income Tax than Non-Residential.

The Committee members discussed the amount of Earned Income Tax that goes to the School District.

Ms. Gibbs advised the Committee members with regards to the Township’s Financial Report.

The Committee members discussed the proposed Municipal Complex.

The Committee members discussed the Township’s storage units for files in Wrightstown.

The Committee members discussed the development of the Woll Tract.

The Committee members discussed the State matching the Township’s dollars with regards to park development.

Ms. Gibbs suggested canceling the October meeting. The Committee members agreed not to cancel the October meeting at this time.

ADJOURNMENT

There being no further business to come before the Committee, the meeting was duly adjourned.

The next meeting is scheduled for October 20, 2005 at 7 P.M.

 

Respectfully submitted,

 

_____________________________
Christy Holley, Recording Secretary