Montg Twp Applying Surplus To Capital Reserve
The Montgomery Township Supervisors have voted to move more than $1 million into their Capital Reserve Fund.
The money comes from a surplus that exists largely as a result of an increase in building permits and Earned Income Tax revenues, led by the Wegman’s Supermarket now under construction on Montgomery Mall property.
The final figures for last year also show spending in line with or below budgeted figures in most categories. The extra money in the capital reserve fund will pay primarily for road improvements and equipment replacements.