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Township Ended Year With More Cash

Editor’s Preface:  Sometimes, you really can’t believe everything you read. Lower Pottsgrove (PA) Township Secretary Michelle Cappelletti reports the legal notice published Friday (March 13, 2009) by The (Pottstown PA) Mercury newspaper, on which the story below is based, contained typographical errors and would be re-printed by the newspaper in corrected form  Saturday (March 14, 2009). Read her comment below.

SANATOGA PA – Lower Pottsgrove (PA) Township had more cash available at the end of 2008 than it did at its start, according to an audit notice that appears Friday (March 13, 2009) as a legal advertisement published in The (Pottstown PA) Mercury, the township’s newspaper of record.

The audit notice shows the township had a total of $3,068,796 as cash in balances in four funds – general, state liquid fuels, parks and recreation, and street light – on Dec. 31, 2008, compared to $2,970,211 in the same four funds on Jan. 1, 2008. And that’s after paying a year’s worth of expenses, totaling $6,040,444, according to the audit.

Lower Pottsgrove's 2008 audit notice.

Lower Pottsgrove's 2008 audit notice.

  • An image of the audit notice, reproduced from Page D1 of The Mercury’s Classified Advertising section today, accompanies this article.

The audit notice as published makes no comment on the state of township finances during the 12-month period, nor does it report on irregularities, if any, discovered by the auditor. A copy of the entire audit is available, beginning today, for public inspection at the municipal building, 2199 Buchert Rd., during its 8 a.m. to 4 p.m. regular weekday business hours.

In addition to the $3.06 million it had in the bank on Dec. 31, the audit reports, the township was owed another $35,000 in outstanding taxes which, if collected in full, would have given it more than $3.1 million in resources at year’s end. Its outstanding obligation, a bond due in 2015, was listed as its sole liability of $570,000.

The total assessed value of real estate in the township, according to the audit notice, is $625,727,768, but it does not state how, if at all, that total is adjusted for current market conditions.

Publication of the audit is required under the Pennsylvania’s Township Code Act of 1933.

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