By David Fleet

Editor

Atlas Twp.– Mark Perry, a CPA for Yeo & Yeo, presented the annual financial statements and auditor’s report for the fiscal year ending March 31, 2016 at Monday’s township meeting.

The township board voted 5-0 to accept the audit.

The fiscal year 2015-16 included general fund revenues of about $1.3 million with expenditures of about $1.2 million, which raised the fund balance by $83,612 and grew the township general fund balance to $1,746,072.

The increase in fund balance is the first since a peak of $2,589,905 in 2011. Since that time the general fund balance had declined 64 percent, or $927,445, to $1,662,460 according to the 2011-15 audits. The fund balance is the excess of the township assets above its liabilities (what the district owns minus what it owes). While cash is an asset, it’s only one of many of an institution’s assets. Others include: accounts receivable, prepaid expenses, supplies, equipment and buildings.

Township Supervisor Shirley Kautman-Jones addressed the increase in fund balance, attributed in part to an increase in taxable values.

“We are not taking money out of general fund to help pay the Genesee County Sheriff contract as we did in the years past,” said Jones. “We are stable now and there’s funding to cover the contact. Also, as the (home) values go up we are collecting more funds thus increasing the revenue. In some years the police (funding) had a shortfall now we are on the other side of that.”

The sheriff contract ends Dec 31, 2016 and is currently under negotiations. In 2017 both the police and fire millage will be voted on by voters.

According to the audit, since 2013 the revenues from the police millage are exceeding the revenues needed to fund the deputies in the township by about $100,000.

The township is currently two years into a three year contract with the Genesee County Sheriff’s Department. In May 2014, by a vote of 576 yes to 382 no, township voters approved 2.1 mills to fund police coverage for the community. The four-year millage is currently funding a $565,000 contract. A township taxpayer with a $100,000 home pays about $105 per year. The approved millage replaced the 1 mill levy along with $50 for improved lots and $25 for unimproved lots that expired 2012.