HomeMy WebLinkAboutWhitpain Township - Public Financial ReportPopular Annual
Financial
Report
W HITPAIN TOWNSHIP, PA
2020For the Fiscal Year Ended December 31,
TABLE OFCONTENTS
3
MISSION, VISION, VALUES
5
2020 HIGHLIGHTS
4
MANAGER'S MESSAGE
6
BOARD OF SUPERVISORS
8
FACTS & FIGURES
7
ORGANIZATIONAL CHART
9
ECONOMY & INDUSTRY
12
TAX DOLLARS @ WORK
11
EXPENSES
13
STATEMENT OF NETPOSITION
14
STATEMENT OF ACTIVITIES
15
LONG-TERM BOND DEBT
10
SOURCES OF GENERAL FUNDREVENUE
"On behalf of the Board of Supervisors, I am pleased to present to you Whitpain
Township’s third annual Popular Annual Financial Report (PAFR) for the year ending
December 31, 2020. The financial information in this PAFR was derived from the
Township’s Comprehensive Annual Financial Report (Annual Report). The Annual Report
was prepared in conformance with Generally Accepted Accounting Principles (GAAP)
and audited by the firm of Mallie, LLP. The Board of Supervisors, Elected Auditors, and
staff members review the Annual Report at an annual public meeting. Readers seeking
more detailed information are encouraged to read the Annual Report which is available at
www.whitpaintownship.org or at the Township Building, 960 Wentz Road, Blue Bell, PA
19422. In the following pages, readers will receive an overview of the Township's
financial outlook, review graphs and charts describing the 2020 Budget, and read about
important projects and initiatives. The Township’s overall financial picture remains
strong as evidenced by our Moody’s Aaa Bond Rating.
MANAGER'S MESSAGE
ROMAN PRONCZAK
Township Manager
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P A G E 0 5
Township receives Certificate of Achievement for Excellence in Financial Reporting
Yost Road Bridge replacement
Township-wide Walkability Study adopted
Township maintains Moody’s Aaa Bond Rating
Township adapts to Covid-19
US 202 Widening Project - construction continues
Township purchases 65-acres of Open Space and begins master planning of
Mermaid Park
Over 6.5 miles of Township roads resurfaced
2020 HIGHLIGHTS
PAGE 0 6
WHITPAIN TOWNSHIP WWW.WHITPAINTOWNSHIP.ORG
Michele Minnick, Chair
Michele is a 25-year resident of Whitpain Township. She is the Assistant Director of the
Montgomery County Tax Claim Bureau, providing assistance to constituents facing
financial difficulties, while recovering delinquent property taxes for all of the county. She
and her husband, David, have two children: her son is a graduate of Syracuse University,
and her daughter attends Elon University.
Kimberly Koch, Vice-Chair
Kimberly is a life-long Whitpain Township resident. She graduated near the top of her class
from Wissahickon High School in 2001, and continued to pursue a strong Pennsylvania
education by earning a bachelor's degree with summa cum laude standing from Bucknell
University. Since then she has also completed a masters degree in English Literature from
Villanova University, where she studied African American literature. Kimberly continues her
academic pursuits with work in the field of education at Cabrini University.
Fred Conner, Secretary
Fred has been leading organizations in business, the military, and in his community for over
three decades. Now as an independent management consultant, he divides his time between
helping clients grow their business and serving the people of Whitpain. Fred has served the
Township on the Open Space Committee from 2004 through 2008, the Planning Commission
from 2006 to 2008, and on the Zoning Hearing Board in 2009. He has served on the Board of
Supervisors since shortly after being elected in November 2009.
Jeff Campolongo, Treasurer
Jeff has a passion for community service and brings his integrity and progressive values to
the Board of Supervisors. Professionally, Jeff is well known in the legal community as
being a fierce advocate for his clients, emerging as one of the region’s premier employment
and entertainment lawyers. Jeff has served on the Philadelphia Bar Association’s Board of
Governors, and is an active board member of the WPEO, the LNGE, The TIME’S UP LDF,
and the CHRCL.
Joyce Keller, Assistant Secretary
Joyce earned a bachelor’s degree in education and worked in Manhattan as an
elementary school teacher for three years. Joyce went on to receive a degree in interior
design from Parsons The New School. She is an active member of the Associates of
Interior Design’s Philadelphia Chapter and has worked on several projects in
Pennsylvania and New York.
P A G E 0 6BOARD OF SUPERVISORS
94 Full Time Employees
10 Part Time Employees
ORGANIZATIONAL
CHART
P A G E 0 7
WHITPAIN TOWNSHIP WWW.WHITPAINTOWNSHIP.ORG
WHITPAIN TOWNSHIP WWW.WHITPAINTOWNSHIP.ORG
Recognized as a Tree City USA in 2020 (25 consecutive years)
Longest active recipient of Tree City Growth Award in PA (21 years)
Gold Level Traffic Demand Management Award from GVFTMA
Whitpain Police Department Accreditation by PLEAC
GFOA Certificate of Achievement for Excellence in Financial Reporting for 9
consecutive years
GFOA Certificate for Outstanding Achievement in Popular Annual Financial Reporting
for 2 consecutive years.
Recognition
Approximately 16 miles from Philadelphia
Population: 19,151 (2017 American Community Survey)
12.81 square miles
67.78 miles of roadway, 27 Traffic signals, & 215 total roadways
12 Parks, 490 acres of Township open space, & 761 acres of combined open space
General
P A G E 0 8WHITPAIN FACTS &FIGURES
WHITPAIN TOWNSHIP WWW.WHITPAINTOWNSHIP.ORG
The economic growth in the Township has been driven in large part by business
and commercial development, but new residential construction continued in
2020 as well. Although there are major employers in the Township, notably the
Montgomery County Community College, AETNA and Henkels & McCoy, Inc.,
the employment base is not dominated by one business or industry. Noting the
list of Principal Employers below, the top employers comprised approximately
28% of the workforce in 2020. There continues to be a greater diversity of
employers in the Township providing more stability for the Township to weather
downturns in the economy. With a strong economic outlook, the Township
continues to rank below the state and national averages for unemployment. The
per capita and household income is among the leaders of municipalities in
Montgomery County, which is one of the most prosperous in the Commonwealth
of Pennsylvania.
TOP EMPLOYERS/ MAJOR INDUSTRIES
P A G E 0 9ECONOMY & INDUSTRY
ECONOMIC GROWTH
WHITPAIN TOWNSHIP WWW.WHITPAINTOWNSHIP.ORG
2020 Revenues
Whitpain’s largest source of general fund revenue comes from the earned income tax which
accounted for 46.44% of tax revenue in 2020. The next largest component of general fund
revenue comes from the real estate tax which accounted for 27.7% of tax revenue in 2020.
Real estate taxes have been held steady at 3.20 mills since 2010. The chart below depicts
the Township's general fund revenue trend over the past three years.
P A G E 1 0SOURCES OF GENERAL FUND
REVENUE
Real
EstateTaxes
Transfer
Taxes Earned
IncomeTaxes
LocalService
Taxes
FeesLicenses
& Permits
Invest.Income
& Rent
Inter-Govern-mentalRevenues
Fines&
Forfeits
ChargesFor
Services
Other
Millage
General Fund
Fire Tax
Fire Hydrant
Debt Service
2.30
0.40
0.05
0.45
3.20 mills
WHITPAIN TOWNSHIP WWW.WHITPAINTOWNSHIP.ORGWHITPAIN TOWNSHIP WWW.WHITPAINTOWNSHIP.ORG
The Township paid $8.177 million for the property that was home to the Mermaid Swim and Golf Club since
1961. Without the acquisition, the Mermaid Lake property was destined for development. A developer had
proposed a by-right plan for 53 single-family homes along with a large billboard in the parking lot of the
property next to the Pennsylvania Turnpike.
P A G E 1 1WHERE DOES GENERAL FUND
REVENUE GO?
Township Acquires Mermaid Lake Property
The Whitpain Board of Supervisors reached an agreement to acquire the 65-acre Mermaid Lake property
and preserve it for recreational use in July 2020. "My fellow Supervisors and I were pleased to permanently
preserve this property for the enjoyment of our current residents along with generations to follow," said
Supervisor Chair Michele Minnick. "Our community felt deeply on this issue and we were determined to do
the necessary work to save it from development."
After acquiring the property, Township crews worked quickly to develop walking trails throughout the property
while removing any immediate hazards posed by deteriorating structures. In late 2020, the Township
embarked on a series of public meetings to develop a master plan to determine future recreational uses on
the property.
3-Year Trend Major Expenses
The acquisition continues the Township's nearly 60-year commitment to resource conservation and
recreation. That history includes the preservation of Prophecy Creek Park through a successful public-private
partnership, the creation of Centre Square Park and the soon-to-open Wissahickon Park.
The general fund is the largest single fund in the
Township’s budget. The largest expenditure in
the general fund is public safety. This budget
category includes the Police, Fire Marshal, Code
Enforcement and Zoning Departments. The next
largest component of the general fund is
attributed to Administration. This budget line
item is inclusive of all expenses for the
Engineering, Finance, Administration, and IT
Departments, the Township Solicitor, and other
associated expenses.
The Engineering Department oversaw the replacement of
the Yost Road Bridge in 2020. Bridge replacement was
necessary because the original 60-year old bridge was
substantially deteriorated and was subject to flooding
during severe weather events.
YOST ROAD BRIDGE REPLACED
GENERAL FUND
TAX DOLLARS @ WORK
Work was completed in the Spring of 2020 to reforest a portion of Jolly Road that abuts
the Northeast Extension of the Pennsylvania Turnpike. Mature trees in this area were
removed when the Turnpike Commission widened the Turnpike a number of years ago.
GRANT MONEY AT WORK
Turnpike Corridor Reforestation
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The $50,000 project was made possible by a grant from Keystone Communities Program.
Work for this project included adjustments to fencing, soil amendments, and the planting
of more than 350 trees.
As part of the project, streambank stabilization enhancements
were completed to help minimize erosion.
The current structure has a much larger opening for creek flows
which reduces the chance of flooding during most storms. The
new bridge is also better aligned with the roadway, has
sidewalks on both sides, and has improved guiderails and
safety walls.
BEFORE
AFTER
STATEMENT OF
NET POSITION
The Statement of Net Position demonstrates the sound financial outlook for
Whitpain as of December 31, 2020. The net position of the Township as of
December 31, 2020 was $57.67M. The Statement of Net Position is presented
here in summary format. For greater detail please see the Whitpain
Township Comprehensive Annual Financial Report, which is available at
www.whitpaintownship.org or in the Whitpain Township Administration
building.
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Assets Liabilities
Net Position
The Statement of Activities reports all financial activity for the fiscal year ended
December 31, 2020 . The statement presents a summary overview describing how
the Township’s net position changed during the year as a result of all revenues
collected and expenses incurred . For a more detailed review of financial activity,
please see the Whitpain Township Comprehensive Annual Financial Report
which is available at www.whitpaintownship .org or in the Whitpain Township
Administration building.
STATEMENT OF
ACTIVITIES
P A G E 1 4
Long-Term Bond
Debt
As of January 1, 2020 Whitpain Township had $12,493,000 of outstanding
debt from three bond issues. The first of these bond issues was used for
the purchase of Prophecy Creek Park in 1999, the second was used for the
purchase of fire apparatus in 2012, and the third was used for a number of
projects in 2020. On August 27, 2020, the Township once again went to the
bond market and issued $9,675,000 in General Obligation Bonds primarily
for the acquisition of 65 acres to be used for recreational purposes.
Moody’s has awarded Whitpain with the highest possible bond rating of
Aaa. This rating was first issued in 2012 and subsequently reaffirmed
multiple times. Currently, less than twenty other municipalities in
Pennsylvania have received a Aaa bond rating. Moody’s determines credit
ratings based on a municipality’s ability to meet its financial commitments.
The Aaa rating means Whitpain has an extremely strong capacity to do so.
The Aaa rating is due in part to the Township’s mature tax base, above-
average wealth, healthy financial position, low debt and pension liability.
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