2022 Budget

 

The overall 2022 Budget consists of seven separate budgets:  General, Capital Reserve, Open Space, Sewer, Liquid Fuels, Highway Improvement, and Capital Investment. The Township is projected to end 2022 with combined fund balances exceeding $10 million, $400,000 over projected 2021 totals.

 

Fund Name Balance 12/31/2021 (anticipated) Balance 12/31/2022 (budgeted)
General Fund (01) $2,990,163 $2,525,939
Sewer Fund (08) $611,618 $583,358
Highway Improvement Fund (18) $119,590 $55,340
Capital Investment Fund (30) $4,963,319 $4,363,319
Liquid Fuels (35) Fund $310,132 $164,716
Capital Reserve Fund (50) $630,327 $11,417
Open Space Fund (99) $159,550 $2,494,920
Total Available Funds $9,784,699 $10,199,010

 

The 2022 budget for the General Fund, which is the principal operating fund for the Township, includes a property tax increase from 1.5 to 1.75 mills, which has been planned for and anticipated for several years. This increase is projected to add $200,000 in revenue, and the purpose of the tax increase is to increase the funds available for capital projects. The General Fund is supported with property taxes ($1.4 million); a 1% Earned Income Tax ($2.5 million); and the real estate transfer tax ($520,000). Other taxes, fees, grants are projected to contribute an additional $900,000. The 5-year agreement with West Chester Borough to provide police services to East Bradford is the biggest General Fund expense: $1.588 million in 2022 – nearly $175,000 more than annual property tax receipts. Employee salaries are budgeted at $1.3 million for 2022, which includes three and a half new employees. Traditionally, the Board of Supervisors reserves 10% of General Fund revenues for future capital needs. For 2022, that will increase to 14% with a budgeted transfer of $750,000 to the Capital Reserve Fund.

The Capital Reserve Fund will supplement that $750,000 transfer from the General Fund with $517,000 in American Rescue Plan funds and $200,000 from grants, fees, and the sale of older equipment. Planned expenses include $1.25 million for repairs to the Ashbridge Street and Sunset Hollow bridges, road paving, and vehicle/equipment replacements; $305,000 in stormwater projects; and $250,000 for the Township Campus (technology upgrades and a new roof for the Administration Building).

The Open Space Fund is funded primarily from a designated 0.25% Earned Income Tax. The Township expects to receive $1.4 million in open space grants in 2022, largely related to the 2020 acquisition of a 175-acre property in the northwestern corner of the Township.

The Sewer Fund relates to operation and maintenance of public sewer service at the Darlington Ridge subdivision on Route 52. This Township will be preparing to sell this infrastructure in 2022.

The Liquid Fuels Fund is supported by an annual allocation from PennDOT based on the state gasoline tax. East Bradford expects to receive $354,000 in 2022, all of which will be spent on road paving.

The Highway Improvement Fund functions as a contingency account for roads and related infrastructure. A pedestrian safety project at Route 322 near Bradford Plaza is included in the 2022 budget.

The Capital Investment Fund was established in 2018 with the proceeds from the sale of the public sewer system. The Board of Supervisors intends to conserve the majority of the principal ($4.9 million) in 2022, transferring the annual interest to the Township’s General Fund.

East Bradford