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.”

Read more:  http://www.timesherald.com/article/20130419/NEWS01/130419441/county-quarterly-report-indicates-generally-favorable-outlook#full_story

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Many School Districts Tapping Reserve Funds To Close Budget Gaps

Governor says schools must spend such money rather than rely on state
 

When budgets are tight, school districts sometimes have to dip into reserve funds to make ends meet.

It’s not something they like to do, but these are desperate times.

“We can’t count on doing this every year,” said Dr. Paul B. Eaken, Fleetwood superintendent.

This is the second year in a row that Fleetwood has relied on its reserves; the district spent $1.4 million to balance the 2011-12 budget.

Read more: http://readingeagle.com/article.aspx?id=389527