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Bethel Township reports $660,000 rise in cash balances; Croll assigns A+ rating
Summary
Treasurer Peter told the board the township's cash across accounts increased by $660,000 year‑over‑year to just over $5 million and interest and transfer‑tax receipts exceeded budget; staff said Croll issued an A+ rating for the township's guaranteed sewer‑revenue notes.
Treasurer Peter reported that for the year ended Dec. 31, 2024, the township's cash balance across all accounts rose by about $660,000 to just over $5 million, driven by a strong year of real‑estate transfer tax and higher interest income. "We were over budget on the income side by almost $578,000," Peter said, noting real‑estate transfer tax exceeded budget by about $143,000 and interest income was roughly $882,000 over budget after reallocating funds to higher‑yield accounts.
The board accepted the treasurer's report and moved to pay bills and release relevant escrows. The motion to accept the report, pay bills and release escrows was made, seconded and carried without recorded opposition.
Board members also discussed the township's credit evaluation. Staff reported that Croll assigned Bethel Township an A+ rating for the guarantee on certain sewer revenue notes, citing the township's strong cash balance and limited obligations. Officials said the A+ rating would favorably affect the interest rate the township would pay if it were to issue debt in the future.
The treasurer and staff said some ARPA funds (about $578,000) were moved into the general fund and that staff will monitor maturities and options for laddering investments to retain yield. The board did not take additional budget or tax‑rate action at the meeting; draft tax bills are scheduled to be printed and mailed Feb. 1.
