Montgomery Township

1 st
Quarter 2011
Budget Report
 General Fund – Fund Balance
• The largest months for revenues are March and
April in which the Township receives 40% of its
General Fund revenues.
• March revenues of over $2.7M helped to bring the
General Fund’s balance to $4.29M at the end of 1st
Quarter 2011.
• This is an increase of 6.83% ($274K) over 1st
Quarter 2010 and an increase of 10% ($417K) over
projection for 1st Quarter 2011.

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 GENERAL FUND CASH BALANCE
2010 ACTUAL VS 2011 PROJECTION
AS OF MARCH 31, 2011

$6,000,000

$5,000,000
$4,291,128.48

$4,000,000
FUND BALANCE

$4,016,861.12
$2,870,231.13
$3,000,000
$2,483,832.56

$2,706,732.07
$2,000,000
$2,156,940.57 2010
2011
$1,000,000

$0

MONTH

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 REVENUE COMPARISON
1st Quarter 2011 vs. 1st Qtr 2010
Percent Above
2011 Actual 2010 Actual 2010

Tax $ 3,624,563 $ 3,455,411 4.9%

Revenues

Permits & Licenses 284,805 245,712 15.9%

Revenues

Other Sources 78,621 63,858 23.1%

Of Revenue

Total Revenues $ 3,987,988 $ 3,764,981 5.9%

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 Local Enabling Tax Revenue
Comparison 2010 - 2011
As of March 31, 2011
$4,000,000
$3,472,664
$3,500,000 $3,338,469

$3,000,000

$2,500,000 2010 Revenues

2011 Revenues
$2,000,000
$1,713,885
$1,545,373
$1,500,000

$940,591 $943,034
$1,000,000
$630,297 $683,091

$500,000 $55,160
$79,170 $65,825 $131,468
$11,570 $11,669
$0

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 EXPENSE COMPARISON
1st Quarter 2011 vs. 1st Qtr 2010
Percent Above
2011 Actual 2010 Actual (Below) Budget

Administration $ 238,573 $ 221,652 7.6%

Finance 174,776 144,937 20.6%

Police 1,037,224 961,935 7.8%

Code 133,664 108,457 23.2%

Public Works 400,779 352,894 13.6%

Total Expenditures 1,985,017 1,789,875 10.9%

*NB – Due to timing, 1st Quarter 2011 reflects 1 payroll more than 1st Quarter 2010
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 Summary of 1st Quarter 2011

• The Township revenues have been strong for the

1st Quarter of the year.
• Business Privilege and Mercantile Taxes are
reporting approximately 10% above 1st Quarter
2010.
• Expenses are above prior year as expected, but
reporting below budget.
• While it has been a strong 1st Quarter, 75% of the
year remains; therefore staff recommends
cautious optimism for the remainder of the year.
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