Friday, December 28, 2012
Macomb Township closed out the fiscal year ending June 30, 2012, with approximately $29.6 million in its rainy day fund.
With upwards of $29.6 million in its general fund as of June 30, Macomb Township looks to enter 2013 far on the plus side, accorindg to a recent Plante & Moran audit of township finances. While other communities across the state continue to struggle under declining revenues, exploding health care costs and decades of debt, township resident and Plante & Moran governmental accounting audit partner Mark Hurst said Macomb has enough money in reserve to pay off its entire debt should it wish to do so. "Quite frankly, I don’t know of a community that is in better financial condition than Macomb Township," Hurst said, during the Dec. 26 audit presentation to the township board. "I would be shocked if you could find one." As of June 30, 2012, …
Wednesday, October 17, 2012
Plante Moran gave Chippewa Valley Schools an "A" on its audit of the district's 2012 finances.
Federal dollars and property tax revenues were down in 2012, but Chippewa Valley Schools still managed break even and close out the year with $16.7 million in its rainy day fund. Plante Moran gave the district an unqualified opinion – the highest form of assurance that an institution’s finances are in order – in its recent audit of Chippewa Valley finances for the year ending June 30, 2012. “In school district terms, we would give you an A,” said Donna Hanson, CPA with Plante Moran. Taking in approximately $131.8 million in revenue in 2012, the district spent $132 million, with just under $104.2 million of that expense directed toward instruction and instructional support services that directly benefit students. As of June 30, the district…
Thursday, December 29, 2011
Plante & Moran auditor Mark Hurst presented his findings for the year ending June 30, 2011 to the Macomb Township board Dec. 28.
In terms of finances, Macomb Township’s auditor says residents can rest assured that the township is “on solid financial ground.” Having spent more than 1,000 hours reviewing the township’s records for the year ending June 30, 2011, Plante & Moran governmental accounting audit partner Mark Hurst presented more than 60 pages on the township’s external and independent audit to the board of trustees Dec. 28. “What township is required to do on an annual basis is bring in an external, independent firm to come in and look at the records of your community to make certain that the taxpayers’ dollars are being spent in accordance with their instructions and that you are demonstrating proper fiduciary responsibility over those dollars,” Hurst said…
Thursday, October 20, 2011
A recent Plante Moran audit of Chippewa Valley Schools’ 2010-11 finances shows the district on the plus side.
Although a recent audit of Chippewa Valley Schools’ 2010-11 finances shows the district on the plus side, district administrators such as Assistant Superintendent for Business & Operations Scott Sederlund believe this snapshot can be misleading. “Last year we got federal EduJobs money, about $3.5 million, but that was one-time money,” Sederlund said. “We do not have that money for this year. Our revenues typically exceed our expenditures by only a few thousand dollars. We would just break even.” Finishing the 2010-11 school year with total revenue just over $135 million and total expenditures just over $131 million, the district was able to deposit around $3.7 million into its rainy day fund. However, much of this extra $3.7 million was …
dw
5:21 pm on Sunday, January 13, 2013
how about taking the balance to pay off current debt as not to hit us up for the money twice more ›