CHELTENHAM TOWNSHIP PUBLIC HEARING ON 2024 BUDGET

NOTICE

NOTICE IS HEREBY GIVEN that the Board of Commissioners of Cheltenham Township, Montgomery County, Pennsylvania, will conduct a Public Hearing on Wednesday, December 20, 2023, at 7:30 p.m. (prevailing time) via web conference and at Curtis Hall, 1250 West Church Road, Wyncote, Pennsylvania 19095, to receive any and all comments and questions, written and oral, of the public prior to considering and possibly voting to adopt Ordinances adopting the Operating and Capital Budgets for the Year 2024 based on the 2024 Preliminary Operating and Capital Budgets, adopted by the Board of Commissioners on November 15, 2023, pursuant to the provisions of the Home Rule Charter, Section 1205, as follows:

2024 GENERAL FUND BUDGET SUMMARY

Revenue
Real Estate
~ Current Year                                                     $        18,001,000
~ Prior Year                                                         $             310,000
Licenses & Permits                                             $          1,093,150
Fines and Forfeits                                               $             134,500
Interest and Rentals                                            $             606,250
Grants and Aids                                                  $          3,306,362
Departmental Earnings                                       $          5,738,680
Act 511 Taxes                                                     $        14,715,000
Miscellaneous Revenue                                      $         1,554,000
Total Estimated Revenue                                 $        45,458,942

Expenditures
General Government                                         $           4,045,586
Police                                                                $          10,691,712
EMS and Emergency Management                  $            1,384,578
Fire and Code Administration                            $            2,109,075
Planning and Zoning                                         $               435,356
Streets and Bridges                                           $            2,126,935
Street Lights and Traffic Signals                        $              247,300
Refuse and Recycling                                       $            2,859,955
Park & Grounds Maintenance                           $            1,100,818
Recreation                                                         $            1,159,808
Libraries                                                            $             1,884,345
Insurance and Employee Benefits                    $           15,684,871
Debt Service                                                     $             1,040,913
Transfer to Capital                                             $            4,500,000
Total Estimated Expenditures                        $          49,271,252

2024 CAPITAL BUDGET SUMMARY

Income
Estimated Cash and Investments                     $             2,615,146
Estimated Income:
~ Amounts Provided by Others                         $              6,956,433
~ Amounts Provided by Borrowings                  $                            0
~ Amounts Provided by Assessments               $                            0
~ Transfer from General Fund                           $              4,500,000
Total Estimated Cash and Receipts              $             14,071,579

Expenses
2024 Project Costs                                           $              11,178,445
Estimated Cash Balance at Year End           $                2,893,134