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Treasure’s report: General Fund revenue at $4.7 million through June 30
Summary
Council received the treasurer's midyear report showing general fund revenues of $4.7 million (53% of budget) and expenditures of $4.1 million (46%); real estate tax collections at 87% and earned income tax at 58%.
The borough treasurer reported that as of June 30, 2025, General Fund revenue collected was $4,700,000, or 53% of the budget, compared with $4,900,000 (55%) at the same point in 2024 and $5,200,000 (61%) in 2023.
Total expenditures for the general fund through June 30 were $4,100,000, or 46% of budget, compared with $4.8 million (54%) in 2024 and $3.9 million (45%) in 2023. The treasurer said 87% of current real estate tax revenue had been collected as of June 30, the same share as June 2024, and that earned income tax collections stood at 58% of budget (57% in 2024 and 61% in 2023).
The treasurer reported that pension balances increased in June as markets were favorable.
