Page 4 - Clinton Currents Volume XIX Issue 1 - Winter 2019

Page 4
Winter 2019
From Treasurer Paul Gieleghem Mid-term progress report
As your Treasurer, I work for you in three main areas: collecting taxes (this is where I get a lot of jeers), investing the Township’s funds, and voting on the Board of Trustees. Now, mid-term, it’s my duty to report to you on the progress made in those key areas.
Taxes: communication, distribution, and convenience
Communication – No one relishes the opportunity to pay their tax bill but as residents and voters we make decisions together about taxes. When I took office, one of my commitments to you was to communicate more on the issue of taxes. Over the past year, we developed informational resources designed to provide a better understanding of complex tax issues. Information like our insert, Where Do My Tax Dollars Go, and articles like Know and Understand Your Tax Bill, How Proposal-A Affects My Tax Bill, and Funding Local Government in the Michigan Spiral. All of these can be found on my website at clintontownship.com/treasurer.
Distribute the dollars – It is important to note that Clinton Township does not keep most of the tax dollars it collects. One hundred percent of the summer bill and much of the winter bill is distributed to other taxing authorities. Some of these are schools, Macomb County, libraries, veterans, buses, and parks. Pursuant to state law or voter approval, we account for the tax dollars we receive and then, with the help of my hard-working staff, distribute them to these taxing authorities.
Payment systems – Whether your payments are made through the mail, at the counter, online or over the phone, the Treasurer’s staff must guarantee accuracy, convenience, and safety of the funds. One of the goals we’re focusing on is to help taxpayers avoid errors when entering account or routing numbers. New payment systems used in the banking industry can help assure accuracy but
information technology comes at a cost and we are currently looking for administrative savings to help offset those costs. Stay tuned.
Investments: safety, liquidity and yield
The investment of Township
funds is governed by our
investment policy and by a state
law commonly referred to as Public Act 20, which limits the type of investments that can be made with public dollars.
The Township’s investment policy has three main priorities:
1. Safety – to minimize risk
2. Liquidity – dollars must be available when
needed
3. Yield – the amount gained on investments
In early 2017, the Federal Reserve began raising interest rates. As your Treasurer, I have the duciary responsibility to actively manage Township funds. My staff and I work to understand our cash ows and predictable expenses. This allows us to
meet our liquidity needs while maximizing investment gains. By utilizing more Public Act 20 eligible investments, we increased investment income in my rst scal year as your Treasurer by 195 percent. These gains provide a little room in the budget to respond to community needs.
This spring I will report the latest investment numbers. I expect even more yield growth over last year.
Treasurer Paul Gieleghem