Township Board: Tuesday, February 13, 2024 @ 5:30pm Leelanau Township Board (FY 2024-25 Draft Budget)

Executive Summary:

**Overview:** This document presents the budget report for Leelanau Township, encompassing various funds including the General Fund, Emergency Services Fund, Police Services, Facilities Fund, and others. It provides a detailed breakdown of estimated revenues, appropriations, and net results for the 23-24 amended budget, along with projections and recommendations for the 24-25 fiscal year. The report includes calculations and calculations are as of March 31, 2023.

**Key Highlights (General Fund):** The General Fund, the primary operating fund, is projected to have total estimated revenues of $955,690.00 for the 24-25 fiscal year. Total appropriations for the General Fund are recommended at $905,610.00 for 24-25. Notable departments include the Township Board, Supervisor, Clerk, Treasurer, Assessing, and Planning and Zoning. The report shows a net result of $50,080.00.

**Other Funds and Specific Observations:** The report covers the Cem Perpetual Care, Cem Trust Fund, Emergency Services Fund, Police Services, Facilities Fund, Right-of-Way Telecom Fund, Library Fund, Firemens Discretionary Fund, and Sewer SAD 2005-1 Fund. The Emergency Services Fund anticipates revenues of $1,835,612.00 for 24-25 with appropriations of $1,837,534.00. The Facilities Fund is recommending appropriations of $453,000.00. The Library Fund has appropriations of $43,584.22. The Sewer SAD 2005-1 Fund projects $36,400.00 in revenue and $0.00 in appropriations.

**Financial Summary:** The summary reveals a net of revenues and appropriations across all funds. For the 23-24 amended budget, the total estimated revenues for all funds were $3,445,639.00, while total appropriations were $3,478,489.00, resulting in a net loss of $(32,850.00). For the 24-25 budget, total estimated revenues are projected at $3,148,720.00 and appropriations at $3,317,144.00, resulting in a net loss of $(168,424.00).