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Board projects $160,000 general-fund carryover and proposes equipment fund to avoid loans
Summary
Vice Chairman Mike Helman reported projected year-end carryover of $160,000 in the General Fund and $600,000 in Road & Bridge, and recommended creating an equipment fund to prevent future borrowing.
Vice Chairman Mike Helman told the Silver Creek Township board that current projections indicate the township will need to carry over about $160,000 in the General Fund and $600,000 in the Road & Bridge Fund at year-end. He proposed creating a dedicated equipment fund so the township would not have to take loans to replace major equipment in future years.
Helman said the board will receive an updated budget each month to track those numbers. The board did not adopt a formal ordinance or budget at the meeting but agreed to schedule a budget work session toward the end of September to develop next year’s budget and funding priorities.
The proposal to seed an equipment fund was presented as a planning step to reduce long-term borrowing risk and will be considered further during the September workshop.
