North Franklin Township Supervisors Happy With Finances

The financial outlook for 2020 is much brighter in North Franklin Township. Supervisors set the stage for the New Year by doing some financial work in 2019. Supervisor Chairman Bob Sabot is pleased with the current financial status. He explains that the township does not need to take out a tax anticipation loan. Refinancing of township debt allowed the township to acquire $1.1 million dollars in additional capital without raising taxes and without extending the debt’s retirement date. Sabot anticipates an additional $600,000 once the Recreational Authority ceases operation. Funds left over at the dissolution of the Authority will become property of the township. Supervisors are looking to put that capital to use on a new borough building. Planning is in the early stages, Sabot hopes to identify a new location for the building in the next several months.