Souderton Borough Manager Mike Coll says they will have to cut spending and raise taxes in order to balance next year’s budget. He says revenues are lower than they should be and expenses are higher. He says revenues are down partly because the borough has had a large number of property foreclosures. Council members are looking at a number of spending cuts, and the twice-a-year newsletter could fall under the axe. Council will review a draft budget at next Monday’s meeting.