Towamencin Gets Positive Financial Update

Towamencin officials have a clean set of books, that was the bottom line of the audit of Township finances for 2017.

Independent auditor Ed Furman told the Supervisors the cash balance of the Township increased last year.

“These include all the funds except the sewer fund. Capital assets actually went down because we’re recording the depreciation expense, which last year was about two million dollars and there were no significant new projects for the Township last year.”

Furman also said the Township pension plans for its uniformed and non-uniformed employees are more than 80-percent funded.