- Budget & Financial Reports
Budget & Financial Reports
The annual budget is coordinated and prepared by the Finance Department and the township manager in accordance with the Pennsylvania First Class Township Code.
The goal of the township budget process is to evaluate the needs and objectives of the township and to determine the feasibility of the township’s capacity to allocate revenues sufficiently to meet those needs and objectives. The budget also serves as a comprehensive document to facilitate transparency to the township residents of the costs of providing public services.
In accordance with the Pennsylvania First Class Township Code, an audit of all township funds and accounting procedures is performed each year to establish the validity and reliability of information; also to provide an assessment of a system's internal controls and various accounting and operational practices. The primary goal of the audit is to express the township's financial position and provide an opinion on the township organization and the financial system based on work done on a test basis.
Auditing is a vital part of accounting and an important tool required by law to ensure transparency and an objective analysis for the general public. In addition, the township complies with prevailing federal, state, and local statutes and regulations and conforms to generally accepted accounting principles (GAAP) as promulgated by the Governmental Accounting Standards Board (GASB), the American Institute of Certified Public Accountants (AICPA), and the Government Finance Officers Association (GFOA).