Green Oak Township Receives Top-Rated Audit Review
September 7, 2017
The Green Oak Township Board of Trustees has received a glowing audit report for the previous fiscal year.
A representative from the auditing firm Pfeffer, Hanniford, and Palka presented the results of their findings to the board at their regular meeting Wednesday evening. The board and the township received an unqualified opinion, which is the highest rating an auditor can issue. One of the biggest benefits of an unqualified opinion the auditor said, was that the state will not hold up state shared revenues which account for nearly half of the township’s money coming in.
Supervisor Mark St. Charles was pleased. He said it was a great report, and was proud that they were able to put away a little bit money into the general fund balance, especially with all the projects they have taken on, like constructing trails, sidewalks, and designing new buildings. After all those projects the board was still able to add 3% of their revenues to the general fund, which stands at just around $5 million. St. Charles said this audit adds to the township’s financial strength and supports their great credit rating.
Residents will benefit from the high bond rating if they decide they want to make improvements to their subdivisions or pave their roads. This will also play a factor when the township bonds for the new police station in the near future. St. Charles said the full audit will soon become available to view on the Green Oak Township website.(MK)