Monday, May 20, 2013

Hanover Township Revenues Up 24% Over Last Year

Hanover Tp Supervisors, with CPT John Wittmaak, at Armed Services Park
Hanover Township Supervisors learned that their finances are in good shape during their May 14 meeting. Independent Auditor Todd Bushta, in a review of 2012's revenues and expenditures, has issued what he calls a "clean report" in the accounting of $23,821,814 in net assets at the end of the year. Total revenue was $8,840,837 of which $5,090,316 came from taxes. Expenses were $7,907,171, leaving the Township with a surplus of $933,666.

One piece of very good news is that the Township's debt service. Though it's currently set at $500,000 per year, it will drop significantly in 2016 to about $147,500 per year. "I don't think any municipality can make that claim," stated Township Manager Jay Finnigan.

On another financial front, Treasurer Ryan Kish told Supervisors that revenues are up 24% while expenses are down 13% from over the same period last year.

"I guess we should keep our Treasurer," joked Chairman John N. Diacogiannis.

Public Works Director Vince Milite explained one way in which expenses have been reduced. Changing electricity providers to Patriot Energy has saved the Township $15,000 in its electric bills over the past two years.

Milite also reported that his department has just finished installing 136 new traffic warning signs throughout the Township. In 2011, the Township installed new traffic advisory signs.

Supervisors also awarded a $246,537 road paving contract to Hanson Aggregates, located in Stroudsburg, for this year's road paving.

6 comments:

Anonymous said...

This is why Jay should be county executive

Anonymous said...

"One piece of very good news is that the Township's debt service. Though it's currently set at $500,000 per year, it will drop significantly in 2016 to about $147,500 per year. "I don't think any municipality can make that claim," stated Township Manager Jay Finnigan."

Until they have to borrow to fix something or build something new. I bet there are many, many municipalities that can claim the same thing. Stop patting yourself on the back Hanover Township, you are doing no better than most suburban municipalities in the Valley.

Anonymous said...

Perhaps 6:30 ought to check other municipalities Annual Reports. Yiou're dead wrong!

Bernie O'Hare said...

"This is why Jay should be county executive"

You'll never get guys like Jay or Howard Kutzler or Jon Hammer. They detest the politics, would have to take a major paycut ad would have to work with 9 people who think they can do the job better.

But I agree any one of them would be a Godsend.

zoid said...

what I don't understand if these township managers and getting those kind of dollars which I feel is appropriate why can't the county make itself whole, get in the game and raise the salary level to something appropriate and perhaps would attract these kind of guys given the size of the county budget and work force compared to the municipalities the salary needs to be higher. Does not make sense!!

Anonymous said...

Ziod: Point well taken. The three gentlemen mentioned would save enough in the 1st 30 days to fund a $200,000 salary.

Write them in Tuesday.