Rice Township Supervisors approved a Proposed 2014 Budget at their November 12, 2013 public meeting with a 15.16% increase in revenues and expenditures. Total receipts and Expenditures are $980,000.
Secretary-Treasurer Don Armstrong read through the budget summary announcing a 17.65% increase in receipts from taxes at $800,000 over 2013 taxes of $680,000. Armstrong attributed the huge increase to increased Earned Income Tax and Real Estate Transfer Tax from residents and homes in the Ice Lakes Development. Armstrong noted Transfer Taxes amounted to $87,000 for the month of October and is based on .5% tax on the sale of real estate.
On the Expenditure side the budget increase for Legal Services is 25%, Police Department 16.98%, Fire Department 30.43% General Highway Service 133.33%, and Health Insurance 10.77%. Tax Collection is expected to decrease by 17.65%.
The budget will be posted and advertised and adoption will be considered at the rescheduled December meeting of the Board of Supervisors on Tuesday December 17, 7:00 p. m. at the municipal Building.