NEWTOWN TOWNSHIP >> The Pennsylvania Department of Community and Economic Development (DCED) has awarded the township a $40,000 matching grant to help with long-term financial and budgetary planning.
At the April 24 meeting, the board of supervisors announced the state grant, as well as formally executing the contract with the DCED for the money.
According to Supervisor Chairman Phil Calabro, the grant approves a study which will allow the township to look at its future financial situation over the next five-to-10 years.
“It will allow us to continue the good financial standard we’re in,” he noted, “As well as know what our position will be five years out.”
The DCED funding is part of the Early Intervention Program (EIP) to help municipalities keep an eye on future monies.
It requires municipalities to put in the same amount in matching funds to help develop comprehensive multi-year financial plans, as well as establish short-and-long term budgetary objectives and strategies.
The agency provides up to $200,000 in state money to municipalities for these economic studies.
Supervisor Dennis Fisher, who worked with the township manager and the finance committee to help apply for the grant, said that he was “happy to get the news.”
“We’re being proactive to keep our finances strong,” he stated, “It keeps us from just being reactive year after year.”
Under the grant, the township must now also put in another $40,000 to pay for the study. The next step is for the board to formally advertise Requests for Proposals (RFPs) and choose a consultant to conduct the financial plan.
The supervisors voted 4-1 to accept the DCED grant, with Supervisor Kyle Davis opposing it.
The grant was formally announced by Newtown Township’s two state lawmakers, State Sen. Steve Santarsiero and State Rep. Perry Warren, both Democrats.
“As a former township supervisor, I recognize the importance of developing a sound financial strategy,” Santarsiero said in a prepared statement, “With this grant Newtown Township will be able to provide residents with even greater services.”
That sentiment was echoed by Rep. Warren, who stated, “This infusion of state money will not only help the community grow, but promises Newtown a prosperous future.”