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 $…
While other Michigan communities are in the red, Macomb's books show the township in the black for the year ending June 30, 2011.
Although a shortfall was thought inevitable, a recent audit has revealed Macomb Township actually finished the 2010-11 fiscal year with a $1.6 million budget surplus in its general fund. This audit, which received Plante & Moran's highest seal of approval, is available for public viewing on the township's website. “Quite frankly, I can’t name another community that is in the fine financial shape Macomb Township is in,” said Mark Hurst, township resident and Plante & Moran governmental accounting audit partner. Hurst spent more than 1,000 hours reviewing the township’s records for the year ending June 30, 2011 to prepare the external and independent audit of Macomb Township's finances. “What I really think the residents at home need to know…
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Leo C Garry
2:40 pm on Saturday, January 7, 2012
For Jenny and Barb who want to spend the $1.6 mil, how about putting the surplus into a rainy day fund. Because you have a surplus,do you have to spend it. Is that what you do with your own budgets? more ›