December Financial news from Casco Township

At the December 16, 2024 Board of Trustees meeting, fund balances were the following (rounded):

General Fund $1.26M

Roads $1.04M

Fire $369k

Police $157k

Parks & Recreation $184k

Cemetery $100k

Seniors $218k

Collected tax $159k

The amount due to Van Buren Senior Services per the millage agreement, $163,721, was paid out of surplus; the Township did not collect for this amount.

Supervisor Overhiser reported on the most recent audit. The State of Michigan noted deficiencies with cash reconciliation.

To address these deficiencies, the Township is implementing a new reconciliation process. The Clerk and the Treasurer will have designated time to review bank statements and reconcile accounts. The Supervisor's office will review and ensure reconciliation reports are completed by the monthly Board meeting. Supervisor Overhiser hoped that this new process for cash reconciliation will be in place by the January Board meeting.

Treasurer Kenny Clevenger welcomed the new procedures and referred to them as checks and balances.

"Currently the Treasurer collects the taxes, deposits the taxes, and reconciles the taxes," Clevenger said, expressing a concern that having only the Treasurer handle these matters opened up the Township to the risk of embezzlement. He stated that having others review the collected tax account will protect both the Township and the Treasurer's office.