By David Fleet
Groveland Twp. — On Monday night the township board of trustees approved an audit presented by Ken Palka, from the accounting firm of Pfeffer, Hanniford and Palka.
Palka reported on the township finances following the completion of the yearly audit ending March 31, 2022.
“Overall the township is in very good financial condition,” said Palka.
The township ended the year with $360,383 of additional fund balance now at $6,116,547 which includes the general and infrastructure fund. The infrastructure account, established in 2009, includes funds earmarked for projects such as road paving, property development and emergency reserves. A transfer from the infrastructure account requires board approval.
“The township’s general operations is in very good shape,” said Palka. In addition, the fire Department fund balance is $1,678,592 and the building department $955,055. The total township fund balance is $8,750,194.
“The building will probably start taking off as the township property gets developed,” said Bob DePalma, township supervisor. “There will be more permits for those projects, we may have to take some of the office costs and move it to the building department (account).”
In addition, Palka emphasized the township stayed within the yearly budget
Total revenues the township budgeted were $1,208,188 and the actual was $1,395, 908, over $187, 720. Total expenditures budgeted $1,495,450 and the actual was $1,069,224, under $426,226.
“That’s well within your budget,” he said. “As auditors, that tells us the township board looks at their budget on a monthly or quarterly basis.”
By David Fleet