Seven months ago, budget deficits threatened Deer Lake Beach and other parks programs.
Now, Independence Township is posting a $700,000 budget surplus.
What gives?
According to Finance Director Susan Hendricks, it was a combination of three things.
‘We underbudgeted our state revenue because at the time we were preparing our budget, we were told our state revenue was going to be cut more significantly than it was,? Hendricks said.
They also did better than anticipated on their investments and some department heads are spending less than budgeted.
Treasurer Jim Wenger said the township needs to start taking a ‘good look? where the budget is at the end of the third quarter to have an idea where to project the fourth quarter.
‘I think that’s where we were missing last year, that might have given us some indication that we were going to have additional revenue,? Wenger said.
The third quarter would have given the township a better sign of where revenues were going, he said.
‘That’s critical for us,? said Wenger. ‘We don’t want to go into budgets with assumptions and have them not be close to what we’re looking at.?