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Narberth officials flag $324,000 budget gap, weigh EIT and millage options to fund capital projects
Summary
Borough staff presented a preliminary 2026 general fund budget and told council members the current service level would produce a roughly $324,000 operating shortfall unless revenues increase or expenditures are cut.
Borough staff presented a first look at Narberth’s 2026 general fund budget on Oct. 7, telling council members that under current service and staffing levels projected revenues fall short of recurring expenditures by about $324,000.
The shortfall arises as personnel and operating costs rise while some revenue streams remain uncertain, staff said. The presentation showed a three‑month reserve target of about $1.4 million based on three‑year averages and projected real‑estate tax revenue of roughly $3 million at the current 9.865 mill rate. Earned‑income tax (EIT) collections were conservatively estimated at $1.35 million; rental net revenue from the Sabine property was estimated at roughly $400,000, and business‑privilege tax revenues near $150,000.
Manager Maggie (borough staff) said, “TLDR, guys, revenues minus expenditures gives us a small…
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