Council to Adopt 2012 Budget Tonight

Norristown Municipal Council meets tonight at 7 p.m. at to adopt the 2012 budget and approve binding insurance coverage. There's also a line item for council to approve any last minute disbursements if necessary.

Here's what was in the budget as of council's last meeting on Dec. 20:

General Fund Revenues and Reserves

Property Taxes – $10,666,900

Other Taxes – $7,817,000

Licenses, Fines and Permits – $2,963,183

Interest and Rents – $27,300

Solid Waste Collection and Disposal – $2,376,000

Miscellaneuous Revenues (including Local, State & Federal Funds) – $3,021,362

General Fund Reserves – $931,732

Working Capital Loan – $364,807

Total Revenues and Reserves – $28,168,284

General Fund Expenditures

General Government – $21,796,041

Solid Waste Collection, Disposal and Administration – $2,376,000

Total General Fund Expenditures – $24,172,041

Debt Service

Transfer to Debt Service – $3,966,243

• Principal Payments – $2,878,988
• Interest Payments and Expenses – $1,117,255

Total General Fund Expenditures & Debt Service – $28,168,284

Restricted Liquid Fuels Budget

State Funding – $534,113

Restricted Reserves – $409,387

Total Liquid Fuels Revenues and Reserves – $943,500

Liquid Fuels Expenditures

Street Lighting Expense – $300,000

Road Program – $643,500

Total Liquid Fuels Expenditures – $943,500

Tax Rate

Norristown's millage rate will increase 3.43% from 11.95 mills to 12.36 mills. According to , the average homeowner in Norristown with a home assessed at the $95,000 average will pay $39 more in taxes next year.

Originally, the 2012 budget was written including only $100,000 of the during the . Eventually the commissioners approved a $259,800 Host Community Block Grant for Norristown in the county's 2012 budget. The additional $159,800 that wasn't originally included in Norristown's budget will go to reduce the amount of the working capital loan the municipality will be taking out and to pay for an increase in insurance premiums. We'll get more details and updated numbers tonight when council votes to adopt the final budget.