Should the economic development reserve fund serve as a general fund, to go to multiple projects such as ice-rinks, museums, buildings, street repairs etc. or should it be a project specific only account?
First, I am proud that the Township sets aside money in anticipation of capital projects in lieu of using bonds for projects such as the ice rink. The Township board has an obligation to balance present and future spending. The needs of our community are fluid. We want to maintain a high standard of living for our residents as well as a desirable place for our businesses and visitors. Given the thorough process that the board goes through to study, understand, bid and approve a large-scale project, such as an indoor theater or the like, I am comfortable with having a general economic development reserve fund.
What are your thoughts regarding the 2018 Budget Provided at the August 14, 2017 Board Meeting?
I will answer for the current budget year of August 2017 for the August 2018 budget.
We approved a budget that set the Township property tax rate for 2018 at $0.23 cents/$100 house value, which is $0.001 under the effective tax rate for 2018. The board and Township staff have worked tirelessly to ensure that our high quality of living is maintained while keeping our tax rate as low as feasible. Given the finalization of new residential construction in our Township, the Township staff and board will have to be even more diligent during the 2019 budget cycle.
The township budget funds all reserves 100% yearly. What is the current surplus and should any of it be returned to the residents or retained in a rainy day fund and if so, how much and why? Any other options for the surplus?
We maintain reserves to ensure that our bond rating is AAA and that our anticipated capital expenditures are paid for with cash on hand. Given residential build out for 2018, continuing flat sales and hotel tax receipts, there isn't much "surplus" to be had anymore. That which we do have has been put into line items such as the Incorporation fund and the economic development reserve fund. We are entering a phase in our community where we will have to scrutinize the budget in much greater detail than we have in years past. The biggest struggle going forward will be how do we continue to maintain such a quality community with excellent services while keeping our tax rate low.
Should the township be funding non-profit organization events such as Interfaith luncheons, senior pick-up services, Education for tomorrow luncheons, etc...with tax dollars.
I believe the Township no longer funds luncheons but I'm willing to be shown differently. Beyond any federal or state mandated services, taxpayer dollars should not be spent on charitable organizations or social programs. Residents are the best deciders of how they would like to spend their money in regards to charitable & social programs.
Should the economic development reserve fund serve as a general fund, to go to multiple projects such as ice-rinks, museums, buildings, street repairs etc. or should it be a project specific only account?
~Not Answered Yet~
What are your thoughts regarding the 2018 Budget Provided at the August 14, 2017 Board Meeting?
~Not Answered Yet~
The township budget funds all reserves 100% yearly. What is the current surplus and should any of it be returned to the residents or retained in a rainy day fund and if so, how much and why? Any other options for the surplus?
~Not Answered Yet~
Should the township be funding non-profit organization events such as Interfaith luncheons, senior pick-up services, Education for tomorrow luncheons, etc...with tax dollars.
~Not Answered Yet~