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3 results for “surplus property” · budget

  • Final Budget Adopted: November 4, 2024 2025 Budget Photo by: Chloe Pauls

    Nov 4, 2024

    ·Nanticoke, PA
    Budget

    On November 4, 2024, North Whitehall Township adopted its 2025 budget with an opening General Fund balance of $8,250,000 and anticipated revenues of $6,425,000 against expenditures of $6,133,000, resulting in a $291,000 surplus. The Township made significant decisions to increase its property tax levy from 0.5 mills to 0.65 mills (a 0.15 mill increase) and introduced its first-ever Fire Tax of 0.45 mills, bringing the total 2025 property tax levy to 1.2 mills. Additionally, $275,000 of the budget surplus was allocated to the Equipment fund for fleet needs, and $900,000 was drawn from unrestricted cash reserves for capital improvements, while maintaining an estimated ending fund balance of $7,361,000.

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    budget adoptionproperty taxfire services
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  • Summary: Lexington-Fayette Urban County Government, Kentucky; General

    Lexington, KY
    Budget

    S&P Global Ratings assigned an 'AA' long-term rating with stable outlook to Lexington-Fayette Urban County Government's $44.5 million series 2022B general obligation bonds, which will finance various capital expenditures and a land conservation program. The bonds are secured by the government's full-faith-and-credit pledge and ad valorem property taxes, subject to Kentucky's constitutional and statutory limitations including a 4% annual growth cap on aggregate property tax revenue. While the county's economic base is recovering from COVID-19 and fiscal 2022 ended with a surplus, long-term challenges remain including rising personnel expenses and pension contribution costs.

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    general obligation bondscapital expendituresproperty taxpension costsland conservation
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  • The 2024-2025 Texas Budget Shannon Halbrook, Senior Fiscal Analyst, Every Texan

    Austin, TX
    Budget

    The 2024-2025 Texas Budget, signed by Governor Abbott on June 18, 2023, allocates approximately $321 billion from all funds and $144 billion in general revenue for the two-year period from September 1, 2023, to August 31, 2025. The Legislature began the session with $188.2 billion in general revenue, including a record $32.7 billion carryover balance and $23.5 billion in the state's rainy-day fund. While the budget shows 10% and 6% increases in general revenue and all funds respectively compared to the previous biennium, the analysis notes that after adjusting for inflation and population growth, actual spending increases are considerably smaller, and lawmakers prioritized property tax cuts over long-overdue investments in public education and health care despite the surplus opportunity.

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    state budgetproperty tax cutseducation fundinghealth care fundinggeneral revenue
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