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Middletown finance director: revenues up, pension investments down for Q1 2022
Summary
Finance Director Mabindari reported Q1 2022 revenues ahead of 2021 levels, driven by earned income tax and real estate transfer taxes; capital fund relies on grants and bond proceeds; pension investments showed a temporary -4.4% market decline attributed to interest‑rate movements.
MIDDLETOWN, Pa. — At the April 6 meeting, Middletown Township Finance Director Mabindari presented the township’s first‑quarter financial results for 2022 and a pension update, saying the township’s revenues are tracking ahead of the comparable 2021 quarter and overall performing near budget for the year to date.
Mabindari said the general fund was at roughly 18% of expected revenue and about 20%…
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