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Avon Grove updates tax collection, investment plan; officials describe state budget shortfall and pension payment impact
Summary
District finance staff said real estate tax collections are ahead of last year after a large $30 million deposit; the district will present its annual investment plan for board approval and reported state budget delays have reduced state receipts and altered pension payment timing.
District finance staff told the operations committee that real estate tax collections are running ahead of last year and that the annual investment plan required for board approval remains on the schedule for the legislative meeting. Officials also described the continuing impact of the state budget delay on district cash flow and on employer/employee retirement payments.
Collections and deposits: the district reported collections of $56,600,000 to date, compared with $51,700,000 at the same point last year, and said a $30,000,000…
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