Town Hall Meeting: What Should Lower Merion Do With $6.9 Million?
After commercial tax settlements, the general fund is too big.
Lower Merion Township's government is holding a public workshop Wednesday, Jan. 25 to discuss what to do with an extra $6.9 million in revenue it had not planned for when budgeting for 2012.
In fall 2011, the township learned it would be receiving that amount from settlements over commercial tax bills. However, government accounting laws only allow a municipality's general fund to exceed its planned expenditures by 18 percent, and the $6.9 million would put Lower Merion out of compliance with that rule.
Commissioners and residents have made several suggestions for the fate of the money. Those who want to add to the conversation can attend the workshop at 6 p.m. in the second-floor assembly room at 75 E. Lancaster Ave. in Ardmore.
Refer to township CFO Dean Dortone's memo (attached to this article) for more information.