The Exeter Township supervisors recently announced that the proposed budget for 2022 shows a $921,000 shortfall. ln 2018, the township sold its wastewater treatment plant for $93.5 million. At that time Township Manager John Granger said township residents could expect to see no tax increase for 10 years or more.
The township manager also stated that the $93.5 million in sale proceeds would be used for future capital projects, municipal building replacement, storm sewer improvements, elimination of wastewater debt and put money into the retirement fund for township employees.
He said that after these goals were achieved, there would be $48 million left from the sale proceeds. Only three years later, the township is facing a 2022 estimated budget deficit of almost $1 million.
Finance Director Jennifer Savage said one of the options to reduce this shortfall could be to reduce or eliminate the homestead exemption. Wouldn’t that be a tax increase?
Even if this shortfall is eliminated, some questions need to be answered by the supervisors and Granger.
Exeter’s leaders should explain how the township spent the proceeds from selling the plant?
Where did the money go that an increase in taxes may occur?
James R. Stonaha
Source: Berkshire mont