Citizen's Guide to Finances: Overview

Use the navigation links on the left to view 6-year trend graphs and greater detail for each category.

Revenues

Expenditures

Financial Position

Pension Liability

Debt and Long Term

Obligations

Revenue Source 2014 2015 % Change 2014
per capita		 2015
per capita		 % Change
Taxes
$ 4,361,676
$ 4,806,223
10.2%
$ 335.80
$ 374.29
11.5%
Federal government
189,792
125,044
- 34.1%
14.61
9.74
- 33.4%
State government
859,439
1,051,241
22.3%
66.17
81.87
23.7%
Local contributions
82,687
79,163
- 4.3%
6.37
6.16
- 3.2%
Charges for services
535,978
509,859
- 4.9%
41.26
39.71
- 3.8%
Interest income
3,412
3,457
1.3%
0.26
0.27
2.5%
Fines and forfeitures
21,112
17,913
- 15.2%
1.63
1.39
- 14.2%
Other revenues
140,209
274,551
95.8%
10.79
21.38
98.1%
Proceeds from sales of assets
3,316
- 0 -
- 100.0%
0.26
- 0 -
- 100.0%
Proceeds from notes payable
- 0 -
76,128
n/a
- 0 -
5.93
n/a
Transfers in
415,849
219,840
- 29.8%
32.02
22.73
- 29.0%
Total Revenues
$ 6,613,470
$ 7,235,419
9.4%
$ 509.16
$ 563.46
10.7%
Expenditures 2014 2015 % Change 2014
Per Capita		 2015
Per Capita		 % Change
Legislative
$ 85,604
$ 88,850
3.8%
$ 6.59
$ 6.92
5.0%
Judicial
923,866
914,808
- 1.9%
71.82
71.24
- 0.8%
General government
1,191,783
1,295,292
8.7%
91.75
100.87
9.9%
Public safety
1,614,771
1,667,886
3.3%
124.32
129.89
4.5%
Health and welfare
781,352
1,445,108
84.9%
60.15
112.54
87.1%
Community /
  Econonomic develop
113,718
22,474
- 80.2%
8.75
1.75
- 80.0%
Recreation and culture
23,595
17,970
- 23.8%
1.82
1.40
- 23.0%
Capital outlay
65,925
179,419
172.2%
5.08
13.97
175.3%
Other expenditures
1,647,113
1,556,650
- 5.5%
126.81
121.22
- 4.4%
Transfers out
450,849
331,840
- 26.4%
34.71
25.84
- 25.6%
Total Expenditures
$ 6,907,579
$ 7,520,297
8.9%
$ 531.80
$ 585.65
10.1%
Financial Position 2014 2015 % Change
Total governmental revenues
$ 6,613,470
$ 7,235,419
9.4%
Total governmental expenditures
6,907,576
7,520,297
8.9%
Surplus (shortfall)
$ (294,106)
$ (284,878)
- 3.1%
Restricted funds
$ 590,399
$ 218,936
- 62.9%
Assigned funds
1,155,242
1,005,753
- 12.9%
Unassigned funds
373,010
609,084
63.3%
Total Fund Balance
$ 2,118,651
$ 1,833,773
- 13.4%
Pension Plan Actuarial Valuations
   as of Decemeber 31,		 2014 2015 % Change Trend
Value of assets
$ 8,506,943
$ 8,711,218
2.4%
Accrued liability
11,347,158
11,935,524
5.2%
Overfunded (underfunded)
$ (2,840,215)
$ (3,224,306)
13.5%
Percent funded
75.0%
73.0%
- 2.7%
Unfunded liability as a percent
    of General Fund revenues
56.88%
61.2%
7.6%
Annual county contribution
$ 305,065
$ 343,230
12.5%
Active employees
72 
72 
- 0 -
Retirees and eligible inactive employees
65 
67 
3.1%
Ratio of employees to retirees
    (inc. eligible non-actives)
1.11
1.07
- 3.6%
Active employee salary
$ 2,302,053
$ 2,319,824
0.8%
Benefits paid (inc. deferred benefits)
$ 684,987
$ 742,102
8.3%
Long Term
Governmental Obligations		 2014 2015 % Change Trend
Note payable to Frontier Communication
- 0 -
$ 76,128
n/a
Sick leave
$ 1,985
$ 9,295
368.3%
Total long-term debt oblligations
$ 1,985
$ 85,423
4203.4%
Total long-term debt, per capita
$ 0.15
$ 6.65
4333.3%
Long-term debt, due within one year
- 0 -
$ 17,898
n/a

Prepared by MGT of America Consulting, LLC

Great Lakes Region

2343 Delta Road

Bay City MI, 48706