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In this Update:
District of Character
General Fund Tax Revenues Below Estimate Again
Each month, the Senate Appropriations Committee prepares an update about the state’s financial health. The most recent report shows that General Fund tax revenues were $90.7 million lower than the monthly estimate in May, the third time in the past five months that tax revenues have failed to meet projections. For the 2022-23 Fiscal Year, which ends June 30, Personal Income Tax collections are nearly $400 million below projections. The full update, including the monthly revenue report, is available here. Watch Out for This Rental Scam
The Pennsylvania Office of Attorney General warns people in the market for rental properties to be aware of sophisticated scammers placing fake ads and altering existing, legitimate ads to obtain personal information, security deposits and rent payments. Protect yourself by being wary if you cannot physically see the property. Avoid purchasing gift cards for payment, providing your Social Security number without verifying with whom you are dealing and wiring payments for application, security deposit or first month’s rent. Read more here. Helping Nonprofits and Local Governments Stretch Investment Dollars
Nonprofits and local governments can take advantage of an investment opportunity offered by the Pennsylvania Treasury Department. The program, known as INVEST, is similar in concept to money market funds and offers two short-term pools and custom options. For more than 30 years, INVEST’s performance has matched or exceeded that of its competitors. INVEST offers daily liquidity and has no minimum balance requirements. More than 260 entities – like townships, school districts, counties, volunteer fire companies, libraries and other nonprofit organizations – have assets of approximately $1.317 billion in INVEST portfolios. If you would like more information about INVEST, please call 866-300-4603, email investoperations@patreasury.gov, or visit patreasury.gov/invest. Around the 40th District
An overdue recognition for Divinocutz Barbershop in East Stroudsburg. Their owner, Luis, opened his doors four years ago and has been giving back to our community ever since. Luis hosts “Cops & Clippers”, offering free haircuts while the community can meet their police officers. He also donates his haircuts during our community’s annual “Faith, Blue, and You” event. Thank you, Luis, for all you do for your customers and community. Pictured also is Trooper Berrocol, our PSP Community Affairs Officer, who helps facilitate community outreach while serving in public safety.
It was an honor to present a Senate Citation to Raul and Aurora Coronado in celebration of their 60th wedding anniversary. Together they have five children, one grandchild, and have filled our world with love, kindness, commitment, respect, and dedication. They have touched all those around them in a beautiful way. Wishing them blessings and happiness.
This week, Sparkle Car wash opened their newest location at 3188 Route 940, Mount Pocono. Congratulations to Kevin and his family on this new endeavor and much success in the years ahead.
We are pleased to welcome Bluefoot Cuisine to East Stroudsburg. Located on 266 River Road, across from Smithfield Elementary. Stop in Thursday – Monday to enjoy their delicious and authentic Ecuadorian cuisine.
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