Kennett Square Borough finalizes new budget12/29/2020 01:21PM ● By Steven Hoffman
Kennett Square Borough Council unanimously approved a budget for 2021 during the Dec. 7 council meeting. The spending plan includes projected general fund expenditures of $5,011,902, up slightly from when the budget was first unveiled in early November.
No tax increase will be necessary to balance the budget. The millage rate will remain at 6.75 mills, according to Lisa Ionata, the borough’s finance director.
Council member Peter Waterkotte made the motion to adopt the budget, while Ethan Cramer seconded the motion.
Council member Doug Doerfler said that the budget is fiscally responsible and sound as the borough moves forward while dealing with the various impacts of the pandemic.
Kennett Square Borough’s revenues were hurt by the pandemic during 2020, but officials took steps to reduce expenditures as well. As a result, the borough was able to accomplish many of its goals for the current year, including being able to retire about $1.6 million in debt.
For 2021, the projected water fund budget totals $1.88 million, while the sewer fund budget totals $2.26 million.
Cramer noted that the borough has only raised taxes one time in the last five years.
During the Dec. 7 meeting, borough council approved a resolution establishing the 2021 rates for a wide variety of fees.
Detailed information about the budget and the fee schedules can be found on the borough’s website at kennettsq.org.