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Troy Township trustees review annual financial report, flag Gateway reporting errors
Summary
Trustees reviewed the 2025 annual financial report, noting Gateway-generated errors in CD balances and unclear payroll withholding entries; they heard corrected manual figures, agreed to monitor CD reinvestments and bank rates, and tightened township assistance limits to control spending.
Steve presented the Troy Township 2025 annual financial report and told trustees that the Gateway printout used by the state contains multiple errors, particularly misstated certificate-of-deposit totals. "The Gateway report is not 100% accurate," he said, adding that he had produced a manual spreadsheet with corrected numbers.
The report summarized year-end cash positions and revenues. Steve said the townships checking balance rose from roughly $317,170 at the end of 2024 to about $347,759 at the end of 2025, and that total receipts for 2025 were about $189,834.67. He reported two CDs: CD1 grew from $163,000 to about $169,000 after earning $5,431 in interest (roughly a 3.3% return) and is…
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