John V. Gottschall, Vice Chair - Towamencin Township

the updated fund balance so that consideration can be made whether to proceed with this
project this year.
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9. Budget Schedule
The dates for the 2012 Budget workshop sessions and tentative adoption date were
reviewed by the Committee.
Committee Recommendation: Recommended that it be forwarded to the Board.
10. Earned Income Tax Ordinance Amendment – Update
The Committee reviewed and discussed the model Earned Income Tax Ordinance that
was distributed by the Montgomery County Tax Collection Committee (“TCC”) that
would replace the Township’s current ordinance. Act 32 of 2008 resulted in significant
reforms and consolidation of Pennsylvania’s earned income tax (EIT) collection system.
Under Act 32, the current earned income tax collection process will be restructured,
ultimately creating 69 countywide Tax Collection Districts.
Committee Recommendation: That the Board authorizes the advertisement of the
proposed ordinance for consideration of adoption at a future Board meeting.
On motion of Mr. Wilson, seconded by Mrs. Younce, the Board accepted the Report of the
Finance Committee.
Ratification of August Warrant List
Vice Chairman Gottschall noted due to the cancellation of the regularly scheduled Board of
Supervisors meeting of August 24, 2011, bills and payroll were paid to save penalties or accrue
interest prior to the next meeting on September 14, 2011. These checks were reviewed by the
Finance Committee at the August meeting.
Payables for the month $535,207.57
Payroll for the period $414,072.65
Interest payments on long term debt $5,462.46
Capital service payment to UGTMA $371,861.00
Total disbursement for the period $1,326,603.68
On motion of Mrs. Younce, seconded by Mr. Wilson, the Board approved payment of bills for
August as presented in the amount of $1,326,603.68.
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Voting Yes: John V. Gottschall, H. Charles Wilson, Patricia Younce
Voting No: N/A
Abstaining: N/A
Absent: Daniel M. Littley, James P. Sinz
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