26 August 2020
Moon Township Board of Supervisors and its boards · 25 subject tags
The Moon Township Board of Supervisors convened a special meeting on August 26, 2020, primarily to review the township’s 2019 annual audit. A CPA presented the audit findings, highlighting a $1,308,245 increase in the General Fund balance for 2019, of which $286,701 was attributed to a shift from modified accrual to modified cash basis accounting. Actual revenues exceeded budget by $738,799, driven largely by real estate transfer taxes ($309,000 over) and earned income taxes ($500,000 over). Expenditures came in $1,566,276 (9%) under budget across all major departments, with police, public works, and general government all posting significant savings. The CPA noted the township had planned to use $1,283,531 in prior fund balance reserves to balance the 2019 budget but instead ended the year with $1,021,544 in excess revenues, eliminating the need to draw on reserves. He also reviewed a five-year fund balance history, attributing a 2017 decline to a $4 million transfer into the Capital Reserve Fund, and discussed segregation of duties for the real estate tax collector. Following the audit presentation, the township manager provided brief updates on General Fund revenues and cash balances through July 31, 2020, the status of 2020 capital projects, and the township’s compliance with the Families First Coronavirus Response Act. No public comments were offered, and the board adjourned at 6:04 p.m.The Moon Township Board of Supervisors convened a special meeting on August 26, 2020, primarily to review the township’s 2019 annual audit. A CPA presented the audit findings, highlighting a $1,308,245 increase in the General Fund balance for 2019, of which $286,701 was attributed to a shift from modified accrual to modified cash basis accounting. Actual revenues exceeded budget by $738,799, driven largely by real estate transfer taxes ($309,000 over) and earned income taxes ($500,000 over). Expenditures came in $1,566,276 (9%) under budget across all major departments, with police, public works, and general government all posting significant savings. The CPA noted the township had planned to use $1,283,531 in prior fund balance reserves to balance the 2019 budget but instead ended the year with $1,021,544 in excess revenues, eliminating the need to draw on reserves. He also reviewed a five-year fund balance history, attributing a 2017 decline to a $4 million transfer into the Capital Reserve Fund, and discussed segregation of duties for the real estate tax collector. Following the audit presentation, the township manager provided brief updates on General Fund revenues and cash balances through July 31, 2020, the status of 2020 capital projects, and the township’s compliance with the Families First Coronavirus Response Act. No public comments were offered, and the board adjourned at 6:04 p.m.
Summarised by AI from the linked minutes, with some details withheld for privacy. The document is the record — check anything that matters against it.