Middletown reports Q2 financials, $2.25M in ARPA still unallocated; some capital projects delayed

Director of Finance Mega Bondri presented the township’s quarter-2 financial report on July 17, saying revenues are outpacing expenses for the period and that investment income and earned income tax (EIT) receipts are major drivers of the current position. "We're at 66% of our revenue target and at about 34% of our expense target," Bondri said, noting year-over-year numbers are roughly in line once ARPA funding from last year is removed from the comparison.

Bondri said the township has approximately $2,250,000 in ARPA funds remaining to allocate for the year. On the capital side, she reviewed project-by-project status: some building and grounds items are on budget; fuel tanks and a public works change order increased certain line items; the township plans to purchase an electric vehicle (estimated $32,500 including grant offsets) and is using grant funding for body- and dash-camera programs over a multiyear schedule.

Several projects were delayed or adjusted. Langhorne Gables Phase 2 remains contingent on an anticipated grant; the neighborhood drainage REITs project is delayed for permitting while Hillside proceeds; the estimate for Firefighters Park increased to a ballpark $450,000 pending an official change order; and the planned fire engine procurement was postponed because a requested RDA grant was denied and the spec/agreement and manufacturing lead time (18–24 months) made immediate purchase impractical.

Bondri answered questions from the board about capital reserve figures (a slide labeling confusion) and the year-end outlook. She said she expects the township to finish the year roughly in line with the budget or modestly better on the revenue side, but cautioned that some projected costs are estimates and will return to the board once final change orders and grant awards are known.

Next steps: Bondri will provide final change orders and updated capital estimates in upcoming capital budget meetings and will incorporate delayed projects into the 2024 budgeting process as needed.