Montgomery County Quarterly Report Indicates Generally Favorable Outlook

Map of Pennsylvania highlighting Montgomery County

Map of Pennsylvania highlighting Montgomery County (Photo credit: Wikipedia)

NORRISTOWN — Chief Financial Officer (CFO) Uri Monson’s quarterly report highlighted a couple key points — the first time the county’s fund balance grew at all since 2007 and the first Annual Required Contribution (ARC) to the pension fund since the same year.

Details were laid out during Thursday morning’s bi-monthly meeting of the Montgomery County Board of Commissioners.

“Based on the Q1 revenue results, the county now projects to have an annual operating surplus for the year of over $2.6 million, on top of the nearly $2.6 million in reserves set aside to grow the fund balance,” said Monson.

“This would mark the first year-over-year increase in the fund balance since 2007.”

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Reading Civic Center Venues Performing Better Than Last Year

Map of Pennsylvania highlighting Berks County

Map of Pennsylvania highlighting Berks County (Photo credit: Wikipedia)

Reading’s two civic center venues are doing far better financially so far this season compared with the first five months of last season, but they still aren’t up to budget projections, the Berks County Convention Center Authority learned Thursday.

Several shows sold out, but attendance at others – among them Alan Jackson and American Idol – was lackluster, Zane Collings, general manager, told the board.

The civic center generally operates at a loss the first five months and did so again this year, he said. The loss was more than the budget projection, but far less than last year, he said.

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