FLINT TWP. — The township’s financial records are in good order, according to a recent audit presentation by Plante & Moran for the fiscal year ended Dec. 31, 2014.
The township received an unmodified rating, the highest level, according to Crystal Simpson and Tadd Harburn, Plante & Moran auditors.
Overall township finances are in better shape than a year ago when the fund balance was facing depletion. Voters approval of a public safety millage in November helped get finances back on track.
Township Supervisor Karyn MIller asked when declining property taxes would stabilize. Simpson said it looks like the rev- enue decline has bottomed out but it will take a while to return to 2008 levels.
After property tax decline as high as 10 percent in budget year 2011. The decline in 2014 was about 3.1 percent and projected at about 3.3 percent in 2015.
Property taxes account for the bulk of township revenues (39 percent), followed by state revenues (25 percent), special assessments and charges for services (12 pct. each) , interest and other sources (7 pct) and fines, fees and licenses (5 pct).
Harburn attributed the more recent decline to a drop in commercial revenues as more businesses sought tax relief from appeals to the Michigan Tax Tribunal. Simpson added that municipalities are now beginning to win some Tax Tribunal fights.
The audit also showed that the township actually spent less than budgeted in 2014.
The audit report showed that sewer and water fund revenues good shape, which MIller said is due to ending the practice of not passing water rate increases on to residents. It took three years to return the fund to the black, she said.
As for pension funding, the clerical union is 99 percent funded and police and fire are 66 percent funded.
The full audit report is available for viewing on the township’s web site at www.flinttownship.org/ Portals/68/2015%20all/2014%20Audit%20Report.pdf.