[Adopted 1-9-2012 by Res. No. 1830]
A.
The annual Township budget prepared and adopted pursuant to Article
VII of the Home Rule Charter and Article X of the Administrative Code
shall include a December 31 general fund balance (the "fund balance")
that is a minimum of 17% of budgeted general fund revenues for that
budget year, with the target being no less than 18.5% of budget revenues
(the "target").
B.
Only under the following circumstances may the fund balance be budgeted
to fall below 17%:
C.
In any year in which the general fund balance actually falls below
17%, the fund balance shall be budgeted to replenish the target no
later than the second budget following said shortfall. This will be
accomplished through any combination of expenditure cuts and/or tax
and/or other fee increases (for example, if the actual 2012 fund balance
falls below 17%, the fund balance must be budgeted to return to 17%
by the 2014 budget).
D.
Only under the following circumstances may the fund balance be budgeted
to rise above 18.5%:
(1)
When a collective bargaining agreement, pursuant to Act 111 or Act
195, is scheduled to expire within the next two budget cycles; or
(2)
In anticipation of a large capital or other unique operating expense
being realized within the next two budget cycles; or
(3)
With a minimum seven votes of the entire membership of the Board
(i.e., assuming a nine-member board).
This policy shall be reviewed by the Board every three years
to allow for changes within the public finance environment.