By David Fleet
Editor
Groveland Twp.– On Aug. 20 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. The board approved the audit ending March 31, 2018. The township ended the year with $398,922 of additional fund balance. The township fund balance is at $4,959,226. In addition, $1,382,529 was reported in the infrastructure fund which is part of the township fund balance. 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 combination of the general, fire department and building department fund balances is $7,071,002.
“Overall the audit went very smooth and we’re very happy with the results,” said Ken Palka.“As individuals you look at that like it’s a lot of money. But keep in mind you have a lot of projects coming up (including) the property development and a lot of road projects. I just want to caution the board to not think this all surplus.”
The total revenues for the fire fund are $1,463,957 with operating expenditures of $1,225,370 increasing the fund balance by $228,587. The fire department fund balance is now $1,388,341.

“Again I want to caution the board that does not include any major capital outlays,” he said.
State shared revenues to the township dipped slightly to $411,929 compared to $422,072 for the 2014-15 fiscal year.
“This is a very good year,” said Bob Depalma, township supervisor.
Total for the year ending March 31, 2018 included $1,165,903 in revenues, up from the 2016-17 fiscal year $1,033,727. Much of the increase came in state shared revenue which jumped $21,192 and taxes which added $37,204.
“About 50 percent of the revenues comes from the state,” said Palka. “A lot of people think that’s it’s all taxes going to the township but really it’s others.”
DePalma added it’s roughly 16 percent of (residents) taxes comes to the township.
“It’s about 4 percent comes to the township with the balance going to the fire department,” he said. “All the rest of the money that comes into the township gets handed over to the state and schools.”
Expenditures were $827,924 down from $1,170,641 for the 2016-17 fiscal year.