Financial health of township remains strong, mayor reports
Whitehall Township Mayor Edward D. Hozza Jr. recently presented a fiscal update to the board of commissioners that indicates the township's financial health is strong.
The report also covers preliminary 2014 end-of-year numbers, police pension investment returns and reduced garbage collection costs.
"For the month of January, 539.7 tons of garbage and 157.9 tons of recycling were collected by Waste Management," Hozza said. "The total costs of collection, $151,527, were $52,980 less than January's cost for 2014."
The preliminary 2014 year-end numbers are encouraging, according to Hozza.
"Expenses were $223,835 less than budgeted when including the contingency reserve," he said. "Revenues were $1,867,388 over budget. Thus, the financial picture is $2,639,929 better than what was budgeted."
Also, the general fund year-end balance was $5,709,813, or $309,470 less than that which was budgeted.
Hozza credited Depouty Mayor Jack Meyers and other township financial personnel for their work in improving the township's financial health.
At a quarterly meeting of the police pension board with its consultants, Cornerstone Asset Management, Hozza said the annual return posted is 5.38 percent, nearly meeting the actuarial assumption of 6 percent.
"When combined with the 2013 return of 23.77 percent, the township's return was 14.57 percent as compared to 6 percent," Hozza said. "This will provide a benefit to the fund in the 2015 actuarial valuation."
Hozza also updated the commissioners on other events in the township.
"The annual spring street sweeping will begin when snow has melted," he said.
Residential and commercial property owners are asked to sweep the sidewalks prior to street cleaning occuring, he said.
A series of events are planned for Earth Day Cleanup on April 18.








