The budget report for Leelanau Township as of March 31, 2025, outlines financial activities and projections for fiscal years 24-25 and 25-26. The fiscal year 24-25 showed a surplus of $395,981.69, while the projected net deficit for 25-26 is $1,245,990.78, with planned capital outlays for improvements indicating a focus on infrastructure development.
The budget report highlights significant deficits in key funds for Leelanau Township, notably a projected $171,525.78 deficit in the General Fund and further deficits in the Emergency Services ($103,559) and Facilities Funds ($613,000). These deficits threaten the township’s financial stability, emphasizing the urgent need for expenditure reductions or revenue enhancements to manage fiscal challenges effectively.
This document presents the budget reports for the Village of Empire across various funds, including the General Fund, Major Streets Fund, Local Streets Fund, Water Fund, and Equipment Fund. The General Fund shows total estimated revenues of $638,300.00 for the original budget and $709,670.78 in activity through February 28, 2025, indicating a financial deficit.
This document outlines the proposed schedule for the preparation and adoption of the Leelanau County FY 2025 budget. The process begins with the distribution of budget forms and guidelines to departments, followed by their budget submissions to the Finance Director by a specified deadline. Key milestones include an Executive Board meeting to discuss millage rates.
The 2024-2025 budget for the township allocates $2.8 million, prioritizing Emergency Services at 59%. Salary and benefits comprise 89% of appropriations, reflecting a commitment to essential services. Key positions will see salary increases to enhance retention and recruitment. The elimination of Tax Administration Fees aims for tax savings, supporting residents amid financial challenges.
The budget report provides a detailed overview of the estimated revenues and appropriations for the Leelanau Township for the fiscal year 2024-2025. Key funds include the General Fund with estimated revenues of $851,940, and the Emergency Services Fund, which anticipates revenues of $1,843,212, reflecting the township’s financial planning for essential services.
Tax Savings included a reduction of the Emergency Fire Services Millage from 3.5 to 3.0, saving $750,000, and the elimination of Tax Administration Fees, saving $140,302. This totaled $890,302 in savings. However, the General Fund faced a shortfall of $15,500, attributed largely to the Facilities Fund, significantly impacting the overall budget.
Executive Summary: 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. The report includes calculations and calculations are as of March 31, 2023. The General Fund is projected to have total estimated revenues of $955,690.00 for the 24-25 fiscal year.
