Township Finance

Dear Green Oak Residents,

In November 2000 when I became supervisor, the general fund balance was at $989,000. Since then the Township Board has worked diligently to increase its fund balance to a point where the auditors are comfortable and that is approximately $2,500,000. This has been accomplished by good, sound fiscal management, controlling cost and dedicated employees who have contributed to keeping cost down.

A sound General Fund Balance is important for economic down turns such as we are seeing at the present time. This has not been an easy task amidst unfunded mandates such as storm water phase II, consolidated elections, mandatory optic scan elections, changes to assessing methods which shifted work from the state to the local units of government and many other mandates. During this same time period, statutory state shared revenues ceased amounting to a loss of $156,000 per year.

During the last fiscal year, the state has reduced constitutional revenue sharing by 4.2 - approximately 5.7%. This equals a loss to the general fund of $42,000. In October the Townships all over the state will see another 4.9 - 6% reduction in revenue sharing. During 2009 / 2010 budget year taxable values within the township fell 10%. This equals the following losses in revenue to the following funds:

General Fund $30,000
Fire Department $50,000
Police Department $55,000

It is projected that taxable values in the 2010 / 2011 budget year will fall another 15%. This equals the following losses in revenue to the following funds: the largest reductions will be in commercial and industrial properties.

General Fund $132,000
Fire Department $215,000
Police Department $229,000