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Treasurer reports $2.9M year-end General Fund balance; transfer-tax revenue driving growth
Summary
Treasurer Cynthia O'Donnell reported the township's General Fund balance at about $2.9 million as of Dec. 31, 2024, and said real-estate transfer tax has been the largest recent revenue growth source with expectations of continued improvement over the next five years.
Treasurer Cynthia O'Donnell presented the township's 2024 financial review and described the General Fund position. "The General Fund Balance as of 12/31/2024 was 2.9 million and she feels we are in good financial position," O'Donnell said, and highlighted real-estate transfer tax as the largest recent revenue growth driver.
The Treasurer noted that transfer-tax receipts have increased in the last two years and staff expect that trend to continue over the next five years. The Board voted to accept the Treasurer's report as presented.
