Limerick Sees 2020 Budget Improvement, as 2021 Looms
LIMERICK PA – Department heads in Limerick government are preparing to meet next week to begin the time-consuming but necessary task of creating a 2021 budget. As they put pencils and calculators to work, Assistant Township Manager Beth DiPrete told the Board of Supervisors on Tuesday (Sept. 15, 2020), they’ll start from a better financial position than was anticipated when the current year began.
When the board adopted the 2020 budget on Dec. 17 (2019), it did so expecting revenues of more than $12.55 million, expenses of $12.78 million, and shortfall of $229,169, DiPrete explained.
The situation looked even worse at about mid-year, four months after declaration of the coronavirus pandemic. At that point, the revenue estimate had fallen to $11.8 million, and expenses declined too, to $12.04 million. That left an even wider budget deficit of $243,785.
But what a difference a couple of months more can make.
As of Tuesday, when latest amended budget figures were displayed to supervisors, DiPrete reported anticipated revenues this year of $11.89 million, expenses of $11.76 million, and a small surplus over budgeted revenue of $129,600, or about 1 percent. That’s a reversal of fortune in the amount of $373,385 over three quarters, she noted.
Real estate transfer tax income has helped, thanks to a booming property market, DiPrete noted, and other income arrived as well. Equally important, according to DiPrete, are the efforts department heads have made to keep the figures aligned.
“It’s been a heck of a year,” board Vice Chair Kara Shuler proclaimed, “and the department heads have pulled out all the stops. They’ve done a great job.” Supervisor Michael McCloskey agreed, and also congratulated the administration.