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").
During or immediately following a year in which a federal or state
declared natural disaster or state of emergency has been declared
in Haverford Township; or
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).