Once again Plante & Moran auditors have given Orion Township a clean bill of financial health.
Trustees heard a presentation on the township’s 2003 audit at the May 3 board meeting. Plante & Moran representative Beth Bailey said the township added to its general fund last year as result of having less expenditures than expected.
‘That’s good, because revenue also declined due to state cuts,? she said. ‘The township is down $300,000 annually, compared to four years ago.?
Plante & Moran also reported the fund balance was at 68 percent this year (2003) as opposed to 60 percent last year, showing the township to be very healthy.
Revenue increased from $5.3 million last year to $5.6 million this year, with the general fund increased $257,000 from last year. Plante & Moran attributed that partially to an increase in township fees and permits, as well as reimbursement from Oakland County for drain projects.
General fund expenditures increased from $4.3 million last year to $4.5 million this year. The township collected $75.5 million, with approximately $54 million coming from taxes, and the township keeping $21 million of the total.
Plante & Moran said state revenue sharing was one of the township’s largest pieces of revenue for the general fund. Auditors projected 43 percent would come from the state in 2005, with state revenue declining half a million dollars over a five-year period.
‘What the state is saying ultimately is they will hold the line on state revenue sharing…however we recommend you don’t budget the same amount you did this year,? Michelle Watterworth of Plante & Moran said. ‘We would be surprised if you got the same amount this year. Really, the township’s ability to increase revenue is very limited.?
According to clerk Jill Bastian, the board had tried to do what it felt was best for the township by going after two year’s of drain project reimbursements at one time.
‘We won’t have it next year,? she added.
Supervisor Jerry Dywasuk said the township would continue to try to keep a healthy bottom line.
‘We’ll continue to act fiscally prudent,? he added. ‘Our fund balance is really increased to the point where we really need to address it.?
‘We do have a healthy balance, but we need to remember how it got there,? said trustee Michael Gingell.