FINANCIAL PLANNING COMMITTEE

THURSDAY NOVEMBER 17, 2005


DRAFT - SUBJECT TO AMENDMENT BY FINANCIAL PLANNING COMMITTEE UNTIL APPROVED


The regular meeting of the Newtown Township Financial Planning Committee met on Thursday, November 17, 2005 in the meeting room of the Township Municipal Building.

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

Also present was newly elected Supervisor, Jerry Schenkman, who will take office in January 2006.

Chairman Goren called the meeting to order at 7:06 P.M.

MINUTES OF OCTOBER 20, 2005:

Mr. Newmuis moved to approve the minutes of October 20, 2005. The motion was seconded by Mr. Fidler and passed unanimously with one member abstaining.

OLD BUSINESS

2006 Budget Discussion

The Committee members discussed the 2006 Budget.

Ms. Gibbs advised the Committee members that the Operating Budget is a balanced budget.

The Committee members discussed the transfers of funds and the Township’s revenues and expenses.

The members discussed the General Fund and the Capital Project Fund.

The Committee members discussed the funds received from the RCN Settlement. Ms. Gibbs advised the Committee members with regards to the funds from the RCN Settlement being in the General Fund and not being shown on the Budget.

Ms. Gibbs advised the members that the Supervisors have agreed to setup a Reserve Fund for the Woll Tract.

The Committee members discussed the Township’s expenditures with regards to the increase in funds to the Police Department, Employee Benefits and Interfund Transfers. Ms. Gibbs advised the Committee members that the Police Departments increases are due to salary increases and overtime pay and that the Employee Benefits increase is due to the cost of medical insurance.

The Committee discussed the number of Unions that the Township has.

The Committee members discussed the expense and revenue that the Township incurs from the Fire Department. Ms Gibbs advised that the money for the Fire Department comes out of the Township’s taxes.

The Committee members discussed the Township’s volunteer firefighters and the staff firefighters.

The Committee discussed the local School District Tax.

The members discussed the Township’s Impact Fees. Members commented that once there is no land to build on there would be no Impact Fees.

The Committee members discussed the Brandywine Complex.

The members discussed the Township’s Earned Income Tax revenue.

The members discussed Act 72.

The members discussed ways to bring income to the Township.

Ms. Goren advised that the Supervisors hung the Budget (4-1) and that three of the recommendations from the Financial Planning Committee were approved.

The Committee members discussed the revenue the Township receives from the Real Estate Tax.

The members discussed the possible changes that would affect the Pennsylvania Sales Tax.

The members discussed the conditions of the State’s School Districts.

The Committee members discussed the Township’s deficit spending. Ms. Gibbs advised that the daytime firefighters are paid and that the Township funds the Ambulance Squad.

The Committee members discussed the Township’s Capital Funding Projects.

The Committee members discussed the delay of the Municipal Complex causing an increase in the cost to maintain the current Municipal Building.

The Committee members discussed the appraisal of the property the Township would like to purchase from the Archdiocese.

The Committee members discussed the prior plans for the expansion of the Municipal Complex and the cost.

The Committee members discussed the Township’s storage cost.

The Committee members discussed the list of the Township’s assets.

NEW BUSINESS

OTHER BUSINESS

The Committee members discussed the Committee’s reappointment status.

The Committee members discussed the Committee’s mission for next year.

The Committee members discussed the effects to the Township due to the Stock Market.

The Committee members discussed the Township’s employee pension plans and the reimbursement from the State.

The Committee members agreed not to hold the December 15th meeting.

ADJOURNMENT

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

The next meeting is scheduled for January 19, 2006 at 7 P.M.

 

Respectfully submitted,

 

_____________________________
Christy Holley, Recording Secretary