2027 OPERATING BUDGET UPDATE
From
Hatboro
Sent
Sun, Nov 15 @ 10:06am
Description
Budget Update
Are you informed about the Borough budget process and the requirements under the Pennsylvania Borough Code?
Each year, Borough Council is required to adopt a balanced budget. The budget process for 2027 began in August, when Borough staff started preparing revenue and expenditure projections. In September, a draft budget was presented to the Finance Committee for review and discussion.
While developing the operating budget, staff and the Finance Committee were also focused on creating a multi-year capital improvement plan covering the next five to seven years. Several public presentations were held throughout the process to provide updates and receive feedback. The capital projects identified through this process will be considered as part of the final 2027 budget, as some projects may require financing that must be incorporated into the Borough's long-term financial planning.
Staff worked closely with the Finance Committee over the past several months to identify cost-saving measures, make adjustments, and reduce expenditures in an effort to address the budget deficit. At the public workshop in October, the projected deficit stood at approximately $800,000.
At this month's Council meeting, Borough Council must adopt a preliminary budget in order to comply with the requirements of the Borough Code. It is important to understand that this is not the final budget. Additional work remains before the budget can be finalized.
Staff is currently reviewing and finalizing several items that could impact revenues and expenditures, including:
Updates to the Borough fee schedule
Cable franchise agreement revenues
Rate stabilization credits
Grant reimbursements and matching funds
Financing requirements for capital projects
Refuse and recycling fees
Other revenue and expenditure adjustments
Several residents have asked about tax revenue from recently constructed apartment developments within the Borough. While three apartment complexes have been completed, only one of those properties has been fully assessed. The Borough is awaiting Montgomery County's completion of the assessment process for the remaining developments before those values can be reflected in future tax projections.
Borough Council will review the preliminary budget again at tomorrow evening's meeting. Following that review, the Pennsylvania Borough Code requires a 10-day public inspection period, which is expected to begin later this week.
The remaining steps in the budget process include:
Finalizing revenue and expenditure projections.
Verifying property assessment values used to calculate millage.
Preparing the final fee schedule.
Adopting the 2027 Budget at the December Council meeting.
Adopting the ordinance establishing the 2027 millage rate.
Residents who cannot attend the meeting in person may watch the livestream, and the recording will remain available for future viewing. Budget information will also be posted on the Borough website and made available at Borough Hall during the public inspection period.
As always, your elected officials and Borough Manager are available to answer questions and discuss the budget process.
As a reminder, in 2026 the Borough published a Budget Manual to help residents better understand how the budget is developed, where tax dollars are spent, how revenues are generated, and other important financial information. We encourage all residents to review this resource and stay informed about one of the most important documents adopted each year by Borough Council.
This notification was posted by Hatboro. Hatboro is solely responsible for this notification and unless specifically indicated, no other community or individual utilizing Savvy Citizen is sponsoring, responsible for, or endorsing this notification.
