Niles Twp. in ‘good financial position’
Published 9:12 am Wednesday, January 6, 2016
Niles Township officials expect to add more money to the township’s general fund balance in 2016, according to a budget passed by the board of trustees before the start of the new year.
Projected revenue for the township’s general fund in 2016 is approximately $1.64 million, while expenditures are projected to be at $1.52 million.
If everything holds steady, township officials expect to add a little more than $100,000 to the general fund balance, which sits at approximately $3 million.
“The township is in a good financial position,” said Clerk Terry Eull. “We have a strong fund balance and we are very conservative in our budgeting and our spending. If the revenue stream continues as it is we will be able to at least maintain the level of service that we have now.”
Not much is different when comparing this year’s general fund budget with the one from 2015.
Eull said the township expects to spend about $12,000 more in general fund money this year and bring in about $40,000 less.
The township’s 12 employees who are paid out of the general fund will receive a 2.5 percent salary increase in 2016.
Eull said the township would receive a 4 percent increase in revenue sharing from the state this year.
The general fund budget was passed at the board’s final meeting of 2015 on Dec. 28.
On Monday, the board changed its next meeting to Jan. 25, since the normal meeting date would have been on Martin Luther King, Jr., Day — a holiday.