Regular Meeting (Treasurer’s Report)
Event Date: 2025-02-12
Summarized with ai model: gpt-4o-mini
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Executive Summary
Account Balances
As of January 31, 2025, Centerville Township has a total of $539,031.23 across various accounts. The balances include funds from multiple credit unions and banks, notably $280,562.37 in Chase Business Checking and $133,733.37 in Lake MI Credit Union Money Market, along with smaller amounts in other checking and savings accounts. The township holds a significant portion of its funds in certificates of deposit, totaling $84,249.41 with varying interest rates and maturity dates.
Receipts Overview
The report indicates positive receipts during this period, primarily from state sales tax revenue and administrative fees collected from various services. Notable incoming amounts include $21,563.00 from State of Michigan Sales Tax Revenue for September and October 2024, and a significant $118,815.36 as administrative fees collected by Treasurer K Pleva, which includes contributions to the township, fire and ambulance services, and CARSAD funds. Also included are minor amounts of interest earned on the township’s investments.
Conclusion
Overall, the financial status of Centerville Township appears strong with a robust total account balance. The reported revenues highlight effective management of both tax revenues and administrative fees, ensuring the township maintains a healthy fiscal outlook. Attention to upcoming certificates of deposit maturity dates will be crucial for maximizing future returns on these investments.