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Treasurer reports: $153,000 paid to libraries this year; $261,000 held in escrow, foreclosures and fund balances updated
Summary
County staff reported annual distributions to libraries, funds held in escrow for jurisdictions without active library partners, foreclosures scheduled for auction and an updated picture of fund balances and cash investments ahead of the county’s August land sale.
County finance staff reported on library funding, foreclosures, fund balances and the upcoming public land sale.
Staff said $153,000 was paid this year to area libraries from constitutionally assigned court fees that fund library services. An additional $261,000 is being held in escrow for areas that are not currently working with a library partner; those funds are available if a library agreement is established or if a township chooses to work with a neighboring library system.
On foreclosures, staff provided a report covering delinquencies and tax-foreclosure auctions for the year to date. In the month referenced, the record shows 51 accounts in the reviewed batch, with roughly 20 percent proceeding to foreclosure in that sample (staff framed the percent as an approximate share of the reviewed batch).
The treasurer’s updated fund-balance and cash-investment reports were presented as of the day before the meeting and reflect midyear adjustments and the county’s current cash position. Staff noted that summer is the main revenue quarter for the general fund because property taxes are billed then; the quarter’s receipts are expected to raise fund balances. Staff also reminded the board that the county’s first public land sale for the year will be held online on August 22 and directed interested parties to backsales.info for details.
Staff said additional follow-up material — including details on a pending class action matter referenced in administrative reports — will be emailed to commissioners and may prompt a special meeting in advance of the board’s August meeting if action is required.
