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Treasurer declares $1.5M surplus; Board approves transfer from Delinquent Tax Revolving Fund to General Fund
Summary
Ingham County Treasurer declared a $1.5 million surplus in the Delinquent Tax Revolving Fund and the Board authorized transferring that amount to the General Fund for fiscal year 2025 in accordance with Act 206.
The Ingham County Board of Commissioners approved the County Treasurer’s request to transfer a $1,500,000 surplus from the Delinquent Tax Revolving Fund (DTRF) to the General Fund for fiscal year 2025. The transfer authority is provided by Section 87b(7) of Act 206 (P.A. 1893, as amended), which permits the Board to transfer surplus amounts from the DTRF.
The Treasurer determined the surplus existence after reviewing amounts available in the DTRF and balances related to prior note issuances; the resolution notes the surplus declaration stands notwithstanding unsettled litigation that may affect the fund. The resolution authorizes the transfer and clarifies that any further transfers will require a separate Board resolution after the Treasurer's recommendation.
The motion was adopted by the Finance Committee and carried on roll call at the May 12 meeting.
