Bradford Woods is primarily a residential borough that resides in the greater Pittsburgh metropolitan area. To keep citizens better informed and ensure the transparency of its government, Bradford Woods administration has completed a fiscal analysis of the borough since year 2006.
The municipality of Bradford Woods is primarily a low-density, residential borough. It’s primary income sources, as of 2018, are through earned income taxes (37.94% of total revenue) and real estate taxes (38.55% of total revenue). Other smaller revenue sources include deed transfer taxes, sales tax, liquid fuels, and grant funding.
Expenditures correspond with the borough’s needs. The biggest expenditures of collected monies are as follows:
As of 2006, the borough of Bradford Woods has managed to avoid taking on any debts for years 2006-2009, and 2013-2017. For years that the borough did go into debt, it’s maximum amount was no more than 55,000 USD and was paid off within three years.
Reserve funds are steadily increasing. Every year since 2006 (except for 2009) the borough has managed to keep more than 200,000 USD in reserve funds. The best maintained boroughs always have reserve funds (“rainy-day” funds) to safeguard against unforeseen or unaccountable costs (weather, disasters, crises, and more).