The Radnor Township 2021 Board Adopted Comprehensive Budget

Press release from the Township of Radnor:

Dec. 13, 2020

The Radnor Township 2021 Board Adopted Comprehensive Budget

On December 7, 2020, the Radnor Township Board of Commissioners passed the 2021 Comprehensive Budget with a 5-2 vote. Please CLICK HERE to view the 2021 Board Adopted Comprehensive Budget, which combines the Township Manager’s Recommended Budget with the various motions approved by the Board of Commissioners during public hearings. Many thanks to the Board of Commissioners for your efforts in adopting the 2021 Comprehensive Budget as well as to the Radnor Township Department of Finance for your continued dedication this (and every) budget season.

Please note the following items of importance when reviewing the 2021 Comprehensive Budget:

1. Real Estate Taxes are revenue neutral to the Township. As a result of the county-wide reassessment, millage rates were reset to the amount needed to keep real estate tax revenues the same in 2021 as 2020. The Board recognized the impact that the reassessment is going to have on many Radnor Residents and passed a budget that didn’t result in higher taxes needed for the Township.
2. Business Taxes are still unknown. We’re all hoping that 2021 will allow the local economy to pick back up, allowing the Township’s business taxes to show some recovery. However, to be prepared for anything, the 2021 budget holds on funding OPEB and capital until after the filing deadline for business taxes (May 15). If revenues perform better than expected, the Board has committed to revisiting OPEB funding and will continue to evaluate capital funding options going forward.
3. Services remain the same. All things considered, due to fiscally responsible decisions and policies established over the past ten years, the Township has the financial flexibility to maintain essential services in 2021. Police, Public Works, Community Development, Recreation, and Finance will all remain at current staffing levels and will continue their excellent service delivery. In anticipation of increased stormwater and sewer capital projects, the Board authorized the hiring of a Project Engineer, effective April 1, 2021.
4. Rates/ Fees

• The 2021 millage rate will be 2.2837 (down from 4.4082 mills as a result of the reassessment, as noted above).
• The 2021 sewer rate will be $7.85 per 1,000 gallons of water used as reported by Aqua (same as 2020).
• The 2021 stormwater fee will be $29.00 per unit (same as prior years).

RADNOR TOWNSHIP DEPARTMENT OF FINANCE: The mission of the Finance Department is to professionally, ethically, and effectively manage the Township's financial resources by identifying, developing, advancing, and implementing fiscal, human resource, and administrative strategies, policies, and practices for the public's benefit.

This press release was produced by the Township of Radnor. The views expressed here are the author’s own.