Macomb County finance staff project 2024 surplus; committee approves year-end budget adjustments and policy updates 10-0

Macomb County Finance, Audit and Budget Committee members were told Tuesday that county finances are tracking ahead of projections and staff recommended several year-end adjustments; the committee recommended each item to the full board by unanimous votes.

Steve (finance staff) presented the county’s quarterly report for the quarter ending Sept. 30, 2024, and told the committee he is projecting another surplus for 2024. Steve said revenues are "very healthy" and that personnel expenses are tracking about 2.5% under budget, producing projected savings.

Why it matters: committee members asked how projected increases in property values and the county’s revenue picture would translate into dollars the board can budget. Staff estimated that each 1 percentage point increase in taxable value would add roughly $1.7 million in revenue.

Actions approved or advanced - The committee voted 10-0 to receive the Finance Department third-quarter report. - The committee voted 10-0 to receive the Department of Equalization’s 2024 study report for 2025 equalized values (presented by Kristen, equalization staff). Kristen…