HomeMy WebLinkAboutResolutions - 2025.05.01 - 42059
AGENDA ITEM: Fiscal Year 2024 Deficit Elimination Plan
DEPARTMENT: Fiscal Services
MEETING: Board of Commissioners
DATE: Thursday, May 1, 2025 6:00 PM - Click to View Agenda
ITEM SUMMARY SHEET
COMMITTEE REPORT TO BOARD
Resolution #2025-5217
Motion to approve submission of the attached Deficit Elimination Plan to the Michigan Department
of Treasury.
ITEM CATEGORY SPONSORED BY
Report Gwen Markham
INTRODUCTION AND BACKGROUND
Public Act 140 of 1971 requires that a Deficit Elimination Plan be formulated by the local unit of
government and filed with the Michigan Department of Treasury when any governmental fund
experiences negative unrestricted fund balance and when any proprietary fund experiences a
negative unrestricted net position.
Oakland County completed the fiscal year ending September 30, 2024, with six (6) funds with
negative unassigned fund balances requiring submission of a deficit elimination plan.
FISCAL IMPACT: No Budget Amendment Needed
Committee members can contact Barbara Winter, Policy and Fiscal Analysis Supervisor at
248.821.3065 or winterb@oakgov.com or the department contact persons listed for additional
information.
CONTACT
Sheryl Johnson, Deputy Chief Financial Officer
ITEM REVIEW TRACKING
Aaron Snover, Board of Commissioners Created/Initiated - 5/1/2025
AGENDA DEADLINE: 04/17/2025 4:30 PM
ATTACHMENTS
1. Fiscal Year 2024 Deficit Elimination Plan
2. Fiscal Year 2023 Deficit Elimination Plan
3. Amended Fiscal Year 2022 Deficit Elimination Plan
COMMITTEE TRACKING
2025-04-23 Finance - Recommend to Board
2025-05-01 Full Board - Adopt
Motioned by: Commissioner Linnie Taylor
Seconded by: Commissioner Penny Luebs
Yes: David Woodward, Michael Spisz, Michael Gingell, Penny Luebs, Karen Joliat, Kristen
Nelson, Christine Long, Robert Hoffman, Philip Weipert, Gwen Markham, Angela Powell, Marcia
Gershenson, Yolanda Smith Charles, Charles Cavell, Brendan Johnson, Ann Erickson Gault,
Linnie Taylor, Robert Smiley (18)
No: None (0)
Abstain: None (0)
Absent: (0)
Passed
Friend of the Court
FY2024 Deficit Elimination Plan
FY2024 (Actuals) FY2025 (Budget)
Unrestricted Net Position (Beginning FY)(1,094,714.85) (3,123,282.13) Notes
Revenue
Intergovernmental Program Reimbursement 11,614,493.33 15,859,178.00 4,244,684.67 37% FY2025 includes anticipated reimbursements reflecting higher costs noted below.
Charges for Services 1,167,555.93 1,283,573.00 116,017.07 10% FY2025 includes anticipated reimbursements reflecting higher costs noted below.
Transfers In 6,515,604.23 6,897,093.00 381,488.77 6% Increase in county share of 34% relative to the increase in FY2025 award.
Total Revenue 19,297,653.49 24,039,844.00 4,742,190.51 25%
Expenditure
Salaries and Fringe Benefits 17,734,653.42 18,725,038.00 990,384.58 6% Budget Based on COLA and step increases
Contractual Services 1,490,365.93 2,058,512.00 568,146.07 38% FY2025 includes anticipated higher costs compared to prior year.
Commodities 92,384.99 205,100.00 112,715.01 122% FY2025 includes anticipated higher costs compared to prior year.
Internal Support Expenditures 2,010,858.87 3,051,194.00 1,040,335.13 52% Building space allocation updated based on actual rates and sq. ft.
Total Expenditure 21,328,263.21 24,039,844.00 2,711,580.79 13%
Deficit Oct 1, 20xx (1,094,714.85) (3,123,282.13)
Revenues 19,297,653.49 24,039,844.00 4,742,190.51 25%
Expenditures (21,328,263.21) (24,039,844.00) (2,711,580.79) 13%
Add back Prior Year Revenue 2,042.44 1,094,714.85
Unavailable Revenue for FY2024 2,028,567.28
(3,123,282.13) -
Difference
FY2025 to FY2024
%
Difference
The negative fund balance reflects the fact that this grant fund operates on a reimbursement basis. Typically, reimbursement for year-end expenditures lags by two to three months. The negative unassigned fund
balance is offset by unavailable revenue of $2,028,567 and a prior year revenue adjustment recorded in FY2025. The Budget for FY2025 is based on the funding award increase and higher anticipated costs due to
COLA and merit increases, higher anticipated costs, and a change in building space allocations.
Multi-Organizational Grants
FY2024 Deficit Elimination Plan
FY2024 (Actuals) FY2025 (Budget)
Unrestricted Net Position (Beginning FY)(3,982.32) (45,389.72)
Revenue
Federal Grants 150,013.72 476,142.00 326,128.28 217% 320,755.00 New grant award for Behavioral Threat Assessment Grant in FY2025 for 320,755
State & Local 2,025,393.83 2,177,538.00 152,144.17 8%
Transfers In - 12,433.00
Total Revenue 2,175,407.55 2,666,113.00 490,705.45 23%
Expenditure
Salaries and Fringe Benefits 1,802,282.08 2,115,514.00 313,231.92 17% 168,519.00
Contractual Services 350,175.22 370,372.00 20,196.78 6% 142,236.00
Commodities 50,154.31 103,798.00 53,643.69 107% 38,880.00
Capital Outlay 7,048.00 21,600.00 14,552.00 206% 21,600.00 No spending on JAG Grant GRN-1004599 in FY2024 which is the budgeted 21,600.
Internal Support Expenditures 15,119.88 42,396.00 27,276.12 180% 19,989.00 No spending on JAG Grant GRN-1004599 in FY2024 which is budgeted 19,989.
Total Expenditure 2,224,779.49 2,653,680.00 428,900.51 19%
Beginning Fund Balance (10/1/xx)3,982.22 (45,389.72)
Revenues 2,175,407.55 2,666,113.00 490,705.45 23%
Expenditures (2,224,779.49) (2,653,680.00) (428,900.51) 19%
Prior year Revenue Adjustment 269,287.80
Unavailable Revenue for FY2024 - -
(45,389.72) 236,331.08
Difference FY2025
to FY2024
%
Difference
New Budgeted
for FY2025
New grant award for Behavioral Threat Assessment Grant in FY2025 for 320,755.
No Spending in FY2024 on JAG grant GRN-1004599 budgeted for 28,880
The negative unassigned fund balance reflects the fact that this grant fund operates on a reimbursement basis. Typically, reimbursement for year-end expenditures lags by two to three months. Once reimbursement is
obtained, the negative unassigned fund balance will be eliminated. Should the reimbursement not be sufficient to cover the expenditures, the County has match funds budgeted, which will be transferred to cover any remaining
deficit. The primary factor for the variance from the FY2024 actuals and the FY2025 budget is due to a new award in 2025 for Behavioral Threat Assessment in the amount of 320,755. Another factor for the variance between
the actuals in FY2024 and the budgeted amounts in 2025 relates to the JAG grants budgeted in this fund have a spending period over multiple years. The budget for these grants reflects the entire award amount. Spending did
not occur in FY2024 on these to the extent of the budgeted amounts.
Workforce Development
FY2024 Deficit Elimination Plan
FY2024 (Actuals) FY2025 (Budget)
Unrestricted Net Position (Beginning FY) (5,408,468.00) (4,216,152.33) Notes
Revenue
Federal Grants 17,417,208.59 16,549,884.23 (867,324.36) -5% Actuals in FY2024 reflect a prior year revenue.
State & Local 4,419,481.57 3,573,462.64 (846,018.93) -19% Actuals in FY2024 reflect a prior year revenue.
Indirect Cost Recovery (62,049.07) - 62,049.07 -100% Indirect cost recovery is not budgeted
Contributions 276,068.93 155,293.01 (120,775.92) -44% Contributed funds for FY2025 expected to decrease
Other 153,690.00 - Prior year revenue is not budgeted.
Total Revenue 22,204,400.02 20,278,639.88 (1,925,760.14) -9%
Expenditure
Salaries and Fringe Benefits 1,514,578.04 1,452,252.72 (62,325.32) -4%
Contractual Services 19,319,871.03 18,651,714.35 (668,156.68) -3%
Commodities 26,582.22 28,000.00 1,417.78 5%
Capital Outlay 2,340.52 - (2,340.52) -100% Capital outlay not expected for FY2025
Internal Support Expenditures 148,712.54 146,672.81 (2,039.73) -1%
Total Expenditure 21,012,084.35 20,278,639.88 (733,444.47) -3%
Beginning Fund Balance (10/1/xx)(5,408,468.00) (4,216,152.33)
Revenues 22,204,400.02 20,278,639.88
Expenditures (21,012,084.35) (20,278,639.88)
Prior Year Revenue Adjustment 4,537,365.86
Unavailable Revenue for FY2024 3,647,706.86
(4,216,152.33) 3,968,920.39
Difference FY2025
to FY2024 % Difference
This grant fund operates on a reimbursement basis. Typically, reimbursement for year-end expenditures lags by two or three months. The negative unassigned fund balance of
$4,216,422 is partially offset by unavailable revenue of $3,647,707. Once reimbursement is obtained, the negative unassigned fund balance will be eliminated. Should the
reimbursement not be sufficient to cover the expenditures, the County has match funds budgeted, which will be transferred to cover any remaining deficit. To date in 2025 the
county has recorded 4.5 million in prior year revenue.
Building Improvement Fund
FY2024 Deficit Elimination Plan
FY2024 FY2025
(Actuals) (Actual to date) Variance Percentage
Unrestricted Net Position (Beginning FY)1,999,158.86 (632,131.03)
Revenue
Investment Income 39,159.82 -
Total Revenue 39,159.82 -
Total Expenditure - -
Other Financing Sources:
Transfers in 6,649,890.97 7,792,173.39 1,142,282.42 17%
Transfers out (9,320,340.68) (2,365,185.00) 6,955,155.68 -75%
Fund Balance Oct 1, 20xx 1,999,158.86 (632,131.03)
Revenues 6,689,050.79 7,792,173.39
Expenditures (9,320,340.68) (2,365,185.00)
Fund Balance 9/30/20xx (632,131.03) 4,794,857.36
The fund balance deficit of $632,131 in the building improvement fund is stemming from project work order closures that
were started but not completed in fiscal year 2024. These closures directly impact the building improvement fund and the
project work order fund. The remaining projects that need to be closed out and cleaned up currently have balances in the
project work order fund that will be transferred back to the building improvement fund. These transfers from the Project
Work Order fund have a resulting variance for transfers greater than 5% from the prior year.
Oakland County, Michigan
Upper Straits Lake Level
Deficit Elimination Plan Projection
FY 2024 (Actuals)FY2025 FY2026 FY2027 FY2028 FY2029 FY2030
Unrestricted Net Position (Deficit) Beginning Balance (21,780.46) (66,190.19) 815.89 13,315.89 25,815.89 38,315.89 50,815.89
Revenues
Special Assessment - 69,860.12 10,500.00 10,500.00 10,500.00 10,500.00 10,500.00
Charges For Servioces 2,130.28 1,098.55 2,000.00 2,000.00 2,000.00 2,000.00 2,000.00
Interest and Penalty 768.16 (285.55) - - - - -
Total Revenues 2,898.44 70,673.12 12,500.00 12,500.00 12,500.00 12,500.00 12,500.00
Expenditures
Contractual Services 47,308.17 3,667.04 - - - - -
Interest Expense
Total Expenditures 47,308.17 3,667.04 - - - - -
Unrestricted Net Position (Deficit) Ending Balance (66,190.19) 815.89 13,315.89 25,815.89 38,315.89 50,815.89 63,315.89
Design and construction of an augmentation well to maintain the lake level has been started. In 2020, the Oakland County Board of Commissioners approved the Special Assessment
District issuance of bonds in the aggregate principal amount of not to exceed $700,000. Full repayment of this debt by the special assessment district is to be collected in 10 annual
installments. The $66,190 deficit within the construction fund was caused by project overruns and was collected through additional assessments during the annual process of assessing
the maintenance fund.
Oakland County, Michigan
Chapter 4 Drain Construction
Deficit Elimination Plan Projection
FY 2024
(Actuals)FY 2025 FY 2026 FY 2027 FY 2028 FY 2029 FY 2030 FY 2031 FY 2032
Unrestricted Net Position (Deficit) Beginning Balance (383,050.98) (347,894.82) (308,724.82) (266,795.82) (223,189.82) (177,905.82) (130,945.82) (82,307.82) (31,993.82)
Revenues
Special Assessments 39,496.73 39,000.00 39,000.00 39,000.00 39,000.00 39,000.00 39,000.00 39,000.00 39,000.00
Charges for Services 11,708.99 11,600.00 11,600.00 11,600.00 11,600.00 11,600.00 11,600.00 11,600.00 11,600.00
Investment Income 6,635.49 3,000.00 3,000.00 3,000.00 3,000.00 3,000.00 3,000.00 3,000.00 3,000.00
Total Revenues 57,841.21 53,600.00 53,600.00 53,600.00 53,600.00 53,600.00 53,600.00 53,600.00 53,600.00
Expenditures
Contractual Services
Internal Services
Interest Expense 22,685.05 14,430.00 11,671.00 9,994.00 8,316.00 6,640.00 4,962.00 3,286.00 1,609.00
Total Expenditures 22,685.05 14,430.00 11,671.00 9,994.00 8,316.00 6,640.00 4,962.00 3,286.00 1,609.00
Unrestricted Net Position (Deficit) Ending Balance (347,894.82) (308,724.82) (266,795.82) (223,189.82) (177,905.82) (130,945.82) (82,307.82) (31,993.82) 19,997.18
A 20- year assessment against each of the benefiting properties in the district has been approved to repay the loan, with first payment due in December 2014. The construction of the sewer was
completed and became operational as of January 2015, and the deficit for this specific project will be eliminated when the long-term assessment roll collection is complete. The long-term receivable is
on the balance sheet to track the collection. The deficit for fiscal year 2024 is $347,895. After making only scheduled payments we have realized that additional assessments were collected that could
be applied against the Internal Loan, and a larger payment is planned for FY2025, thus reducing interest expense going forward.
OAKLAND COUNTY EXECUTIVE DAVID COULTER
Sheryl Johnson, Interim Deputy Chief Financial Officer | Management and Budget
(248) 858-0049 | JohnsonSH@oakgov.com
2100 Pontiac Lake Road | County Executive Building 41W | Waterford, MI 48328 | OakGov.com
April 17, 2024
Michigan Department of Treasury
Local Audit and Finance Division
P.O. Box 30728
Lansing, MI 48909
For the fiscal year ending September 30, 2023, Oakland County reports six (6) funds with a negative
unassigned fund balance (e.g. a “deficit”). Below, please find a listing of those funds, the amount of
the deficit, and a deficit elimination plan:
Special Revenue Fund – Friend of the Court $(1,094,714)
The negative unassigned fund balance reflects the fact that this grant fund operates on a
reimbursement basis. For example, the County pays the original expenses and is reimbursed
by the grantor agency after submission of the proper support documentation. Typically,
reimbursement for year-end expenditures lags by two or three months. The negative
unassigned fund balance of $1,094,714 is offset by unavailable revenue recorded of
$1,094,714. Once reimbursement is obtained, the negative unassigned fund balance will be
eliminated. See attached Friend of the Court plan for FY2024.
Special Revenue Fund – Other Grants $(1,025,388)
The negative unassigned fund balance reflects the fact that this grant fund operates on a
reimbursement basis. For example, the County pays the original expenses and is reimbursed
by the grantor agency after submission of the proper support documentation. Typically,
reimbursement for year-end expenditures lags by two or three months. The negative
unassigned fund balance of $1,025,388 is slightly offset by unavailable revenue recorded of
$114,709. Once reimbursement is obtained, the negative unassigned fund balance will be
eliminated. Should the reimbursement not be sufficient to cover the expenditure, the county
has match funds budgeted which will be transferred to cover any remaining deficit. See
attached Other Grants plan for FY2024.
Special Revenue Fund – Workforce Development Grants $(5,408,468)
The negative unassigned fund balance reflects the fact that this grant fund operates on a
reimbursement basis. For example, the County pays the original expenses and is reimbursed
2100 Pontiac Lake Road | County Executive Building 41W | Waterford, MI 48328 | OakGov.com
by the grantor agency after submission of the proper support documentation. Typically,
reimbursement for year-end expenditures lags by two or three months. The negative
unassigned fund balance of $5,408,468 is slightly offset by unavailable revenue recorded of
$5,372,524. Once reimbursement is obtained, the negative unassigned fund balance will be
eliminated. Should the reimbursement not be sufficient to cover the expenditure, the county
has match funds budgeted which will be transferred to cover any remaining deficit. See
attached Workforce Development Grants plan for FY2024.
Special Revenue Fund – Judicial Grants $(164,606)
The negative unassigned fund balance reflects the fact that this grant fund operates on a
reimbursement basis. For example, the County pays the original expenses and is reimbursed
by the grantor agency after submission of the proper support documentation. Typically,
reimbursement for year-end expenditures lags by two or three months. The negative
unassigned fund balance of $164,606 is slightly offset by unavailable revenue recorded of
$162,442. Once reimbursement is obtained, the negative unassigned fund balance will be
eliminated. Should the reimbursement not be sufficient to cover the expenditure, the county
has match funds budgeted which will be transferred to cover any remaining deficit. See
attached Judicial Grants plan for FY2024.
Capital Projects Fund - Lake Levels - Act 146 $(31,041)
The negative unassigned fund balance in the Lake Levels - Act 146 Fund relates to the Upper Straights
Lake Level Project in the amount of $21,780, and Bush Lake Level project in the amount of $12,545.
Upper Straits Lake Level- Design and construction of an augmentation well to maintain the lake level
has been started. The expected completion date is sometime in 2024. In 2020, the Oakland County
Board of Commissioners approved the Special Assessment District issuance of bonds in the aggregate
principal amount of not to exceed $700,000. Full repayment of this debt by the special assessment
district is to be collected in 10 annual installments. The $21,780 deficit within the construction fund
was caused by project overruns and will be collected through additional annual assessments. See
attached Upper Straits Lake Level plan for FY2024.
Bush Lake Level- Construction of a new lake level control structure has been completed. In 2010, the
Oakland County Board of Commissioners authorized a loan in the amount of $300,000 from the
County’s Long Term Revolving Fund to the Bush Lake Special Assessment District to be collected in ten
annual installments. The Long-Term Special Assessment for the project commenced in FY 2011. The
project cost was more than anticipated and the final collections from the long-term assessment roll are
being reviewed. The $12,545 deficit within the construction fund will be covered by additional annual
2100 Pontiac Lake Road | County Executive Building 41W | Waterford, MI 48328 | OakGov.com
assessments to be incorporated with the Lake Level maintenance fund assessment. The district will be
assessed appropriate additional amounts to ensure the ability to eliminate the deficit within the next
five years given the small district size and being mindful on the impact to residents in the district. See
attached Bush Lake Level Dam plan spreadsheet for FY2024.
Capital Projects - Drain Chapter 4 Construction - Lower Pettibone Drainage District
Lower Pettibone Lake Sanitary Chapter 4 Drain Construction Project - A loan from the Long-Term
Revolving Fund was approved by the Oakland County Board of Commissioners via Miscellaneous
Resolution #14136 adopted June 11, 2014, to provide up to $1,200,000 in funding for this project. A
20- year assessment against each of the benefiting properties in the district has been approved to
repay the loan with first payment due December 2014. The construction of the sewer was completed
and became operational as of January 2015 and the deficit for this specific project will be eliminated
when the long-term assessment roll collection is complete. The long-term receivable is on the balance
sheet to track the collection. The deficit for FY2023 is $383,051. See attached Lower Pettibone
Drainage District plan for FY2024.
We trust that the above demonstrates that Oakland County has sufficient plans in place to eliminate
the negative unassigned fund balance reported in the financial records for the fiscal year ending
September 30, 2023. Any questions regarding this matter should be directed to my attention at 248-
858-0049, or by e-mail at johnsonSH@oakgov.com.
Sincerely,
Sheryl Johnson
Interim Deputy Chief Financial Officer
Department of Management and Budget
Oakland County, Michigan
cc: Brian Lefler, Chief Financial Officer
Jim Nash, County Water Resources Commissioner
Friend of the Court
FY2023 Deficit Elimination Plan
FY2023 (Actuals)FY2024 FY2025
Unrestricted Net Position (Beginning FY)(2,588,261.24) (1,094,714.85) 0.00
Revenue
Intergovernmental Program Reimursement 10,772,616.99 12,750,926.00 13,388,475.00
Charges for Services 1,542,939.98 -
Other 2,534,378.74 -
Transfers In 6,761,392.24 6,568,659.00 6,897,093.00
Total Revenue 21,611,327.95 19,319,585.00 20,285,568.00
Expenditure
Salaries and Fringe Benefits 16,273,145.92 15,464,990.00 16,318,175.00
Contractual Services 1,580,487.10 1,353,205.00 1,370,015.00
Commodities 73,048.40 1,254,026.00 1,287,646.00
Internal Support Expenditures 2,191,100.14 1,247,364.00 1,309,732.00
Total Expenditure 20,117,781.56 19,319,585.00 20,285,568.00
Deficit Oct 1, 20xx (2,588,261.24) (1,094,714.85) 0.00
Revenues 21,611,327.95 19,319,585.00 20,285,568.00
Expenditures (20,117,781.56) (19,319,585.00) (20,285,568.00)
Add back Prior Year Revenue
Unavailable Revenue for FY2023 1,094,714.85
(1,094,714.85) 0.00 -
Projected revenue and expenditures for FY2024 and FY2025 are based on the current award contract for the
Cooperative Reimbursement Program
Other Grants Fund
FY2023 Deficit Elimination Plan
FY2023 Actuals FY2024
Unrestricted Net Position (Beginning FY)(602,745.32) (1,025,388.20)
From PS without Grant worktag 578,500.97
Revenue
Federal Grant Revenue 573,211.64 617,920.49
State Grant Revenue 454,743.14 1,614,135.39
Other 30,000.00
Tranfers In
Total Revenue 1,057,954.78 2,232,055.88
Expenditure
Salaries and Fringe Benefits 386,058.91 147,089.29
Contractual Services 522,406.25 218,437.03
Commodities 331,880.15 250,056.27
Capital Outlay 240,252.35
Internal Support Expenditures -
Transfer Out
Total Expenditure 1,480,597.66 615,582.59
Deficit Oct 1, 2022 (FY2023)(602,745.32) (1,025,388.20)
Revenues 1,057,954.78 2,232,055.88
Expenditures (1,480,597.66) (615,582.59)
Add back Prior Year
(1,025,388.20) 591,085.09
Amounts for Fiscal Year 2024 are actual revenue collected and expenses incurred
through 4/10/2024. This represents collecting of revenue for prior year
expenditures. The budget for FY2024 for revenue and expense is $2,686,713.
Workforce Development Grants
FY2023 Deficit Elimination Plan
FY2023 FY2024
Unrestricted Net Position (Beginning FY)(30,176.70) (5,408,467.47)
Revenue
Federal Grants 11,416,276.86 16,054,532.00
State & Local 2,138,358.19 463,342.00
Other 163,799.29 -
Tranfers In - -
Total Revenue 13,718,434.34 16,517,874.00
Expenditure
Salaries and Fringe Benefits 1,386,367.18 1,635,515.00
Contractual Services 17,390,340.40 14,778,627.00
Commodities 65,297.81 8,700.00
Capital Outlay 101,820.41 95,032.00
Internal Support Expenditures 152,899.31 -
Total Expenditure 19,096,725.11 16,517,874.00
Deficit Oct 1, 2022 (FY2023)(30,176.70) (5,408,467.47)
Revenues 13,718,434.34 16,517,874.00
Expenditures (19,096,725.11) (16,517,874.00)
Add back Prior Year Revenue
Unavailable Revenue 5,551,141.34
(5,408,467.47) 142,673.87
The deficit at the end of FY2023 is due to the timing of the federal payments received. The
amount had been booked to unavailable revenue for FY2023 and recorded as revenue in
FY2024 after it was received. This also explains the $5 million difference between the
actuals from FY2023 and the projected revenue for FY2024
Judical Grants
FY2023 Deficit Elimination Plan
FY2023 (Actuals)FY2024
Unrestricted Net Position (Beginning FY)($148,727.47)($164,606.41)
Revenue
Federal Grants - -
State & Local 1,222,269.07 1,650,448.00
Other - -
Tranfers In - -
Total Revenue 1,222,269.07 1,650,448.00
Expenditure
Salaries and Fringe Benefits 908,998.83 1,036,524.00
Contractual Services 297,714.91 571,071.00
Commodities 31,434.27 42,853.00
Capital Outlay -
Internal Support Expenditures -
Total Expenditure 1,238,148.01 1,650,448.00
Beginning Fund Balance (10/1/xx)(148,727.47) (164,606.41)
Revenues 1,222,269.07 1,650,448.00
Expenditures (1,238,148.01) (1,650,448.00)
Refund prior year Expenditures 8,913.45
Unavailable Revenue for FY2023 162,442.57
($164,606.41)6,749.61
Revenue and Expenditures are projected to increase in FY2024 due to an increase in the
grant funding for court programs
Oakland County, Michigan
Upper Straits Lake Level
Deficit Elimination Plan Projection
FY 2023 FY 2024 FY2025
Unrestricted Net Position (Deficit) Beginning Balance ($9,103.57)($21,780.46)($11,049.99)
Revenues
Special Assessment 35,445.07 25,936.24 14,437.76
Charges For Servioces 2,698.83 1,939.73
Interest and Penalty (170.85) (40.97)
Total Revenues $37,973.05 $27,835.00 $14,437.76
Expenditures
Contractual Services 50,649.94 17,104.53
Interest Expense
Total Expenditures $50,649.94 $17,104.53 $0.00
Unrestricted Net Position (Deficit) Ending Balance ($21,780.46)($11,049.99)$3,387.77
Oakland County, Michigan
Bush Lake Level Dam
Deficit Elimination Plan Projection
FY 2023 FY 2024 FY 2025 FY 2026 FY 2027
Unrestricted Net Position (Deficit) Beginning Balance ($24,760.00)($12,544.61)($7,294.61)($2,044.61)$3,205.39
Revenues
Special Assessments 13,650 6,000 6,000 6,000 6,000
Investment Income 59.86 250 250 250 250
Total Revenues $13,709.86 $6,250.00 $6,250.00 $6,250.00 $6,250.00
Expenditures
Interest Expense 1494.47 1000 1000 1000 1000
Total Expenditures $1,494.47 $1,000.00 $1,000.00 $1,000.00 $1,000.00
Unrestricted Net Position (Deficit) Ending Balance ($12,544.61)($7,294.61)($2,044.61)$3,205.39 $8,455.39
Additional assessment to be issued to cover the
overall project costs.Additional assessments over
the next 4-5 years given the small districe size and
Oakland County, Michigan
Chapter 4 Drain Construction
Deficit Elimination Plan Projection
FY 2023 FY 2024 FY 2025 FY 2026 FY 2027 FY 2028 FY 2029 FY 2030 FY 2031 FY 2032
Unrestricted Net Position (Deficit) Beginning Balan $133,215.52 ($383,050.98)($339,153.98)($295,256.98)($251,359.98)($207,462.98)($163,565.98)($119,668.98)($75,771.98)($31,874.98)
Revenues
Special Assessments 475,044 44,897 44,897 44,897 44,897 44,897 44,897 44,897 44,897 44,897
Investment Income 5,934
Total Revenues $480,978.37 $44,897.00 $44,897.00 $44,897.00 $44,897.00 $44,897.00 $44,897.00 $44,897.00 $44,897.00 $44,897.00
Expenditures
Contractual Services 947,180
Internal Services 50,065
Interest Expense - 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000
Total Expenditures $997,244.87 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $1,000.00
Unrestricted Net Position (Deficit) Ending Balance ($383,050.98)($339,153.98)($295,256.98)($251,359.98)($207,462.98)($163,565.98)($119,668.98)($75,771.98)($31,874.98)$12,022.02
Special assessments have been issued to cover
the overall project costs.Assessments will
continue for the next 10 years.The original long
term assessment period of 20 years was due to