Thursday, January 17, 2013
Additional revenue and fewer expenses have translated to a balanced 2012-13 budget with a bit to spare for Chippewa Valley Schools.
A combination of additional revenue and unexpected savings will allow Chippewa Valley Schools to keep its rainy day fund intact for another year. Originally anticipating a $3 million deficit in its 2012-13 budget, the district now looks to break even with $400,000 to spare. Whereas the original district budget, passed in June 2012, estimated Chippewa Valley would take in $134.7 million in revenue, but spend $137.8 million for basic programs, staff, support services, administration, transportation and other instructional needs, the first amended budget, approved by the school board Jan. 14, shows district finances in a much better light. Current estimates show Chippewa Valley revenue increasing to $136.8 million while expenditures drop to $…
Friday, June 29, 2012
The Macomb Township Board of Trustees approved a $51.6 million budget for 2012-13.
At a glance, Macomb Township's 2012-13 budget shows an almost $6 million shortfall, but take a line-by-line look at the various accounts and the township's projected shortfall drops to just over half a million dollars. The Macomb Township board of trustees approved the budget for the 2012-13 fiscal year at its meeting June 27. A summary of the budget shows Macomb Township expects to spend around $51.6 million next year, but take in only $45.6 million in revenue. However, as township Finance Director Stacy VanReyendam explains, the projected $5.9 million shorfall is the result of losses in several different funds, each with their own fund balance to make up the difference. For instance, the Water & Sewer Fund expects a $3.8 million …
Wednesday, June 20, 2012
Chippewa Valley Schools approved its $137 million 2012-13 budget on June 18.
Chippewa Valley Schools expects to spend upwards of $137 million next year, leaving just under $13 million in the district’s rainy day fund by the end of June 2013. While another year of deficit spending will negatively impact the district’s savings, the financial strain of 2012-13 is not nearly as severe as district administrators originally predicted. At this time last year, Chippewa Valley was projecting a $9 million budget deficit for the 2012-13 school year. However, thanks to an increase in school aid from the state and continuation of the district’s own cost-saving measures (two-year employee contract freezing salary increases), the projected deficit is expected to be $6 million less than first anticipated. Although the district …
Thursday, May 10, 2012
Residents wishing to comment on items within the proposed budget can do so at public hearings scheduled June 13 and 27 at 7 p.m. in Town Hall.
Anticipating that next year’s revenues will fall short of its expenses, Macomb Township has drafted a 2012-13 budget that predicts a $5.6 million shortfall. According to the most recent version of the preliminary 2012-13 budget, updated April 30, Macomb Township is expected to take in roughly $44.8 million in revenue, but spend $50.5 million on its services and operations over the next fiscal year. However, Macomb Township budgets have historically projected high expenditures and low revenues in an effort to allow for balance throughout the year. A recent audit of the 2010-11 budget, which projected a $10 million shortfall, has revealed the township actually finished with a $1.6 million budget surplus in its general fund. “This is our …
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Jenny Whalen
12:58 pm on Friday, June 29, 2012
Just for the record, the township is not bankrupt, or anywhere near it. We still have $28 million in the general fund. This won't last forever of course, but we won't see an emergency manager in Macomb anytime soon. more ›