Annual Budget Information

Malvern Borough’s fiscal year operates as a calendar year (January to December).  The Borough Manager is charged with preparing and submitting the budget to Borough Council for consideration each year.  The 2021 Budget was adopted by Borough Council on December 15, 2020.

Once a first draft of the budget is completed, the Finance & Administration Committee of Borough Council begins their review.  When the Committee believes that the budget is in a place that it may be presented to Borough Council for an initial presentation.  Borough Council authorizes the advertisement of the budget once it is in a format where it may be considered for adoption.  The Borough’s Home Rule Charter requires that a public hearing on the proposed budget be held and that the preliminary budget be adopted prior to final adoption.  Borough Council must adopt the final budget by December 31st of each year.

The Borough’s budget is divided into five (5) funds, two (2) operating and three (3) capital funds.  The operating funds serve to allocate costs for standard Borough operations, whereas the capital funds act as a savings account for larger projects.  These funds are the General, Sewer, Sewer Capital Reserve, Capital Reserve, and Highway Aid Funds.