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Narberth staff reports strong Q3 finances; real estate transfer tax receipts higher than budgeted
Summary
Borough manager Maggie Dobbs told the Finance & Administration Committee that third-quarter numbers look strong after correcting several misclassifications; real estate transfer tax receipts are running substantially above conservative budget assumptions and staff plans a conservative upward adjustment to next year's projection.
Maggie Dobbs, borough manager, told the Finance & Administration Committee on Oct. 16 that Narberth's third-quarter financial picture is "looking strong." Staff discovered and corrected several accounting misclassifications during budget review; she cited one example in which the retirement fund contribution line was showing 366% of the budgeted amount and was corrected.
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