CITIZENS BUDGET & FINANCE ADVISORY COMMITT! RECOMMENDATIONS, 10: JOHN NAGLE, DONALD CURLEY, KEVIN HIGGINS, JOHN FISHER, HARRY MAHON! ELAINE SCHAEFER, AND WILLIAM SPINGLER FROM: SARAH ARMSTRONG, ROBERT ROFHRINGER, JOE ELLIS LINDEN, ROBERT MURDOCCA, CHRISTOPHER WA’ WILSON DATE: — 5/20/2010 NICHOLAS KEMP, JERRY fSON, CRAIG WHERLAND, AND PHILIP Based upon the work of the Committee to date, supported by the results of the Citizen's Survey, the Committee makes the following intetiri recommendations: |, Effective immediately, retain. all Township Real Estate Tyansfir tax receipts in the General Fund; discontinue the practice of transferring 25% of these receipts to the Open Space Fund. 2, Evaluate refinancing the 2002 Bond Obligation for estimated savings of $640,000; total actual savings will be subject to market conditions and fluctuations. 3. Omit salary stirvey project for 2010, resulting, in-approximately $100,000 of savings. Rely on data provided by neighboring townships and deta from professional associations, such as the Intemational City/Couisty Management Association Execute a revised professional secvices agresirient with the Township Solicitor; the agreement should be structured on a fixed (not-to-excéed) monthly payment ‘for. ill services performed in repiesenting Radnor Towsship in:general legal matters, Define categories that. would be considered general legal matters, which would be covered by this monthly payment. Establish a protocol for engagement of services for non-general legal matters, which should require prior approval, in writing, by the Board of Commissioners. 5. Implement an immediate moratorium on further Township indebtedness. 6. Implement an immediate moratorium on acquisition of any additional Open Space. The above recommendations are submitted in order to address the immediately pressing financial issues in 2010, These recommendations will be further expanded on in our final report. Respectfully submitted,