Budget Analysis, Page 5

SILVER CREEK TOWNSHIP

ANNUAL MEETING, MARCH 11, 2008

 

PROPOSED OPERATING BUDGET FOR 2009

VERSUS PREVIOUS YEARS BUDGETS

                                                                                                                                                                                              2009

                                                                                                   2006                    2007                        2008               Proposed

 

GENERAL REVENUE FUND                                            120,000                 130,000                 130,000                155,000

ROAD AND BRIDGE FUND                                              450,000                 475,000                 475,000               475,000

ROAD CAPITAL IMPROVEMENT                                   100,000                 100,000                  100,000                100,000

 

TOTALS                                                                               670,000                 705,000                705,000                730,000

 

BUDGET VERSUS RECEIPTS ANALYSIS

FOR YEAR ENDED 12/31/2007                                                                                     

                                                                                                2007 budget           Receipts              Variance

                                                                               

GENERAL REVENUE FUND                                            130,000                  168,053                +   38,053

ROAD AND BRIDGE FUND                                   475,000                  543,017                +   68,017

CAPITAL ROAD IMPROVEMENT                                   100,000                    93,651                 -     6,349  

 

TOTALS                                                                               705,000                  804,721                  +   99,721          

 

CASH RECEIPTS, DISBURSEMENTS AND BALANCES

FOR THE YEAR ENDED 12/31/2007

 

                                                                                Beginning      Receipts      Inter-fund Transfers      Disbursements         Balance

                                                                                1/1/200          Tax & Fees       Out  (-)       In +)              Expenses        12/31/2007 

 

GENERAL REVENUE FUND                            163,659          168,053           16,510             770              152,472           163,500

ROAD AND BRIDGE FUND                              172,785          543,017                             139,000              688,896           165,906

CAPITAL ROAD IMPROVEMENT FUND        89,682            93,651         139,000                                                               44,333

 

TOTAL –GENERAL BUDGET FUNDS        426,126          804,721        155,510      139,770            841,368            373,739

 

SPECIAL NON-BUDGET ACCOUNT BALANCES

Fire Fund                                                                                                                                4,610   

Locke Lake 142nd bond fund                                                                                          10,696

Building Fund                                                                                                                        4,957

                Contingency/ repair fund                                                                                                   17,934

                Checking account                                                                                                               4,615

Total, non-budget dedicated accounts                                                          42,812

 

GRAND TOTAL FUND BALANCES AS OF 12/31/2007                                                       416,551

                                                                               

(All figures rounded to nearest dollar)

 

 

                                               

 

               

                                                               

                                                                                                                                                                                Budget Analysis Page 6

SUMMARY OR REVENUES AND EXPENSES

Year ended 12/31/2007

 

GENERAL REVENUE ACCOUNTS                                                                                                              

 

 

                Tax levy, general property taxes for 2008                                                       130,000

               

Revenue and receipts

 

General property taxes received                                                      137,130

Licenses and fee income                                                                         500

State grants and aids                                                                            17,174

Recycling incentives from county                                                       2,424

                Interest income, General Rev. accounts                                             4,928

                                Junk amnesty day fees and county incentives                                    5,609

                                Miscellaneous income                                                                              288

Total  revenue                                                                      168,053

 

                Expenditures and disbursements

                               

Wages: Supervisors, clerk, zoning and planning

                                                committee, FICA, Medicare, related                                 42,549

                                Elections, judges, supplies                                                                   2,553

                                Legal notices, advertising, publications                                             2,199

                                Legal, professional and consulting services                                     7,363

                                Town hall utilities, gas, electric, phone, etc.                                  11,018

                                Education and training, staff and board                                              8,113

                                Assessor contract                                                                                  32,210

                                Recycling expense                                                                               30,398

                                Junk amnesty day expense                                                                   4,978 

                                Internet service & web page maintenance                                        1,635

                                Office supplies and equipment                                                            3,051 

                                Insurance                                                                                                  4,285

                                Association dues, subscriptions                                                              933

                                Miscellaneous/Various accounts                                                        1,187

Total  expenditures and disbursements                         152,472

 

Note: State grants and aids to local government may change on an annual basis at the discretion of the state legislature. The township does not have any exact knowledge of what level of revenue may come from these sources for our 2009 budget, other than guidelines of what has been available in the past.  Accordingly, our major expenditures and expenses are based upon the real estate tax levy, which is set at this meeting.

 

One factor that may affect township revenue receipts in the near future, are issues with delinquent real estate taxes. With more financial difficulties and foreclosures possibly in sight, it is possible that citizens may delay payment of their real estate taxes. This would have a detrimental effect on township revenue receipts. The board of supervisors believes that the account balances which have been maintain from year to year will help provide a cushion against this possible problem.

 

 

 

 

 

 

Budget Analysis Page 7

SUMMARY OR REVENUES AND EXPENSES

Year ended 12/31/2007

ROAD AND BRIDGE ACCOUNT

 

                Tax levy, general property taxes for 2008                                                       475,000  

                Tax levy, road capital improvement fund for 2008                                       100,000                

Total levy revenue                                                                               575,000

 

                Revenue and receipts

                               

General property taxes received                                                      450,002 

                                Road improvement taxes received                                                    93,651 

                                Other taxes, gravel tax, etc.                                                                   5,963

                                State grants and aids, town road monies                                         63,540

                                Charges for service                                                                               14,407

                                Interest income, Road & bridge accounts                                         4,505

                                Sale of culverts and mail box posts                                                    1,582

                                Other income & revenue, permits & misc.                                         3,018

Total  revenue                                                                      636,668

 

                Expenditures and disbursements

 

                                Wages:  Full and part time maintenance staff wages,

                                                FICA, PERA, Medicare, related                                        83,578

                                Insurance and workmens compensation fund                               7,326

                                Employer paid health insurance benefits                                         6,274

                                Outside hire, miscellaneous labor                                                    1,538

                                Fuel and oil                                                                                          15,559

                                Gravel purchases, crushing and hauling                                       45,757

                                Salt and sand                                                                                         2,258

                                Professional services (Engineers for Eagle

                                                Lake, DNR project)                                                             65,850

                                Road building projects                                                                    367,506

                                Dust control, road calcium chloride                                                40,906

                                Surveying, legal and engineering                                                      1,498

                                Cell phones, maintenance field employees                                    1,416

                                Operating supplies, road and bridge                                              17,160

                                Safety equipment, training, drug screening                                        831

                                Equipment repair and maintenance, tires, batteries, etc.             5,106   

                                Association dues, subscriptions, bid publications                          1,573

                                Road materials, bituminous patch,  signs, grass seeding

                                                related supplies and expenses                                        13,744

                                Equipment rental                                                                                   3,281

                                Miscellaneous/Various accounts                                                      7,735

                                                Total expenditures and disbursements                          688,896                                                  

Note: The discrepancy between the budget levy tax assessed and receipt of revenue to the township is negatively affected if property owners are delinquent on their real estate property taxes.