The 2012 budget is challenging. Milford is not immune to our troubling economic times as earned income tax is the primary source of operating revenues. Another major source of funding is developer contributions into the Traffic Fund and Recreation Fund. Development activity has stopped.

This economic slowdown had been anticipated and witnessed in previous years where township capital projects (road, bridge and trail building) called upon reserves saved during growth times. Now the township must anticipate unknown effects from state-mandated changes to the collection of Earned Income Tax where revenues collected compared to the previous year’s eight month period are down over 15%. While it is suspected this is a transitional situation (we are working closely with Keystone Collections and trends look better), our 2012 budget projects substantially reduced revenues.

Taxes are unchanged in the 2012 Preliminary Budget. Major capital investments in our infrastructure include road reconstruction and realignment, repaving, drainage projects, construction of trails, purchase of a roller and replacement of a pick-up truck. These projects would be funded by reserves set aside for those activities if revenues are as depressed as projected.

As the year progresses, decisions will be made regarding progress of permitting, utility coordination, right-of-way acquisition and the township’s economic health. This budget gives the flexibility to respond to those conditions and to procede with projects that both improve our community and contribute to its economic health.