A Fiscally Stable Newtown is Good for Business & Vice Versa

The Newtown Township Board of Supervisors engaged Econsult Solutions, Inc. (ESI) to develop a comprehensive multi-year financial management plan, will include recommendations to improve operational efficiency and promote fiscal stability in Newtown Township. Part of that plan is hosting a survey of local businesses about the quality of services provided by the township.

Some Financial Background Information

To provide an adequate infrastructure for businesses to operate efficiently in Newtown, the township must be fiscally stable, which means having adequate funding. At a July 21, 2020, Zoom meeting, ESI reviewed the historical fund balance trend (see Figure 1) and solicited feedback from residents regarding the path forward for the township and what should be included in the five year plan. You can view the video of the presentation here.

The Government Finance Officers Association, which represents public finance officials throughout the United States and Canada, generally recommends a municipality maintain a fund balance of no less than 2 months (17%) of General Fund operating expenses. Newtown’ current policy, however, is to maintain a fund balance as low as 8-10% of operating budget. As shown in Figure 1, even this low balance is in jeopardy due to the COVID-19 pandemic, which may impact future budgets as well. [For more on that, read

Newtown Business Survey

Since much of the revenue collected by the Township comes from business-related taxes such as Earned Income Tax, it is critical that the Township attract new high-paying businesses to locate in town and for current businesses to thrive in order for it to continue to provide necessary services.

To help achieve that goal, Newtown wants to hear from you – the business owners and operators in the Newtown community, which includes Newtown Borough. If you are a business owner you can help by completing the Newtown Township Business Survey.

Your feedback will help guide Newtown’s future economic development growth and make Newtown a more business-friendly town.

Specifically, the Township would like to know your answers to the following questions:

• Why did you choose Newtown to locate your business?
• What are the most important actions Newtown Township could make that would improve your ability to operate a successful business? (special events, public parking, better regulations, etc.)
• From a business perspective, what are the biggest challenges Newtown will face in the next five years? (traffic, taxes, regulations, etc.)
• How important are each of the following for supporting your business? (roads, sidewalks, improved parking, recreation facilities, etc.)

The results of the survey will assist the township in establishing a vision for the future and provide recommendations and policies to help guide future growth in our community.

The deadline for survey submission is August 9, 2020. The Township appreciates your willingness to help it work to keep Newtown the great community it is for its residents and businesses.

Related Content:

• “#COVID19 Is Forcing State and Local Governments to Make Painful Budget Choices Ahead”; http://sco.lt/755Ckq
• “Newtown Township Anticipates More Than $1.3 Million Budget Shortfall Due to #COVID19”; http://sco.lt/54w3Si
• "Rough Road Ahead for Newtown Township"; https://preview.mailerlite.com/j5v4u6