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Middletown reports Q2 financials, $2.25M in ARPA still unallocated; some capital projects delayed
Summary
Director of Finance Mega Bondri told the board that Q2 revenues are running ahead of expenses and that the township still has about $2.25 million in ARPA funds to allocate. Several capital projects are on budget but others— including a neighborhood drainage project (REITs) and a fire engine purchase—are delayed pending grants or permitting.
Director of Finance Mega Bondri presented the township’s quarter-2 financial report on July 17, saying revenues are outpacing expenses for the period and that investment income and earned income tax (EIT) receipts are major drivers of the current position. "We're at 66% of our revenue target and at about 34% of our expense target," Bondri said, noting year-over-year numbers are roughly in line once ARPA funding from last year is removed from the comparison.
Bondri said the township has…
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