Department of Finance |
Diane P . Heming , Director
urrysville MUNICIPALITY OF MURRYSVILLE NEWS
Municipality of Murrysville Revenue Sources for all Funds and Capital Expenditures by Type
Estimated at 12.31.17
The Municipality of Murrysville has continued to provide excellent services to the residents without the need for any type of tax increase . The current millage rate of 12.15 mills has been constant since 2006 . Revenues continue to grow at approximately 2.5 to 3 % annually and hard work by dedicated staff work keep operating expenses in line with these revenues while maintaining infrastructures , services and parks .
n The 2016 financial audit was prepared in accordance with GASB 34 requirements with no material findings . In mid-February of 2018 , the fieldwork will begin for the 2017 Financial Statement audit . n The 2018-2022 Capital Improvements Program ($ 15,771,300 ) and the 2018 Operating Budget ($ 12,809,118 ) were both approved with tax millage and service levels staying constant . A five year budget plan was completed for all of the funds and presented along with the 2018 Operating Budget . n The assessed value of property within the Municipality is established by Westmoreland County . The assessed value for 2017 was $ 337,691,040 . The value for 2018 is $ 340,177,410 which is less than a one half percent increase over 2017 . n The 2017 value of one mill to the Municipality is approximately $ 326,000 . The 2018 Budget was based on an estimated millage value of $ 331,000 . n In early 2017 , the Municipality entered into a new borrowing with Standard Bank in the amount of $ 5,125,000 . The loan will be repaid in 15 years and the interest rate is 2.75 % fixed for the term of the loan .
The proceeds were used to : 1 Pay for the costs of borrowing 2 . Pay off eight ( 8 ) PEMA 2 % loans for various fire trucks
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MURRYSVILLE ❘ SPRING 2018 45