2016 ANNUAL REPORT OF THE INGHAM COUNTY TREASURER

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1 2016 ANNUAL REPORT OF THE INGHAM COUNTY TREASURER Eric A. Schertzing Treasurer Desiree A. Kirkland Chief Deputy Treasurer Elisabeth Richardson Rachel Mihelich Karen Conroy Joseph Bonsall Dawn Van Halst Deborah Mollsen Vicki Murdock Matthew Staples Barbara Laxton Jenna Casuccio James Estell

2 ERIC A. SCHERTZING Ingham County Treasurer Desiree A. Kirkland Ingham County Courthouse Chief Deputy Treasurer P.O. Box 215 Mason, MI (517) Veterans Memorial Courthouse 313 W. Kalamazoo Street Lansing, MI (517) To: The Honorable Board of Commissioners I take pleasure in submitting this report of December 31, 2016 account balances as maintained by County Treasurers office for the fiscal year. In addition, a short discussion regarding the investment of monies held by the Treasurer, summary of dog licensing and summary of land sale proceeds accounts; in accordance with MCL (8) (h). Respectfully submitted, Eric A. Schertzing Ingham County Treasurer

3 TABLE OF CONTENTS Account Balances 4-5 Investments 6 Dog Licensing 7 100% Tax Payment Fund - Admin 8 100% Tax Payment Fund % Tax Payment Fund % Tax Payment Fund % Tax Payment Fund % Tax Payment Fund % Tax Payment Fund % Tax Payment Fund % Tax Payment Fund % Tax Payment Fund

4 County of Ingham Account Balances For Year Ending December 31, 2015 Accounts Balance CASH & MONEY MARKETS: Comerica Bank Money Market $ 1,143, Dart Bank Cash 194, Founders Bank Money Market 3,145, LAFCU Money Market 2,567, First National Bank 1,000, PNC Bank Cash 18,842, BANK ACCOUNTS: Bank of America CD $ 250, FirstMerit Bank 2,000, Dart Bank 3,057, Flagstar Bank 5,398, Homestead Bank 505, Huntington Bank 9,037, Independent Bank CD 250, Michigan State University FCU 6,236, Lake Trust Credit Union 1,001, Portland Credit Union 1,015, Private Bank CD 4,000, Summit Bank 2,035, Talmer Bank 1,001, Wolverine Bank 1,250, Wells Fargo Bank CD 10,000, FEDERAL AGENCY SECURITIES: Federal Farm Credit Bank $ 2,000, Federal Home Loan Bank 10,000, Federal Home Loan Mtg Corp 5,000, Fannie Mae 1,000, COMMERCIAL PAPER/LOCAL ISSUES BWL $ 1,950, LANSING -TXB-CAP 250, Abbey National Treasury 4,000, Macomb 50, Anheuser Busch 3,000, South Lyon Mi County Schools 490,

5 Continued Fund Balance UNPOOLED CASH - PNC SAVINGS: AP Debit $ 10, Alaiedon Sewer 342 4, Williamston Water Supply # Diehl Consolidated 446, Stoner Clement 177, Cook & Thorburn 186, Briarwood 485, Groesbeck Park 396, Webberville #2 78, Tollgate 20, Tobias Linn 297, Kalamink Creek 32, Auctioneer Towar Snell Towar Garden IMPREST CASH - POOLED $ 95,

6 County of Ingham Investments Policy Investments are made by the Ingham County Treasurer in accordance with state law and the investment policy adopted by the Ingham County Board of Commissioners. Permissible investments include savings accounts and certificates of deposit of federally insured banks, savings and loans, and credit unions; direct obligations of the United States government and its agencies; banker s acceptances; commercial paper of major U.S. corporations; repurchase agreements; and mutual investment funds containing only instruments that could be held legally if purchased separately. The Ingham County Treasurer s policy is to invest for safety of principal, maintain liquidity, and maximize interest earned. Because only a small portion of the County s portfolio can be covered by FDIC insurance, it is essential to continually evaluate the quality of the instruments purchased and the financial stability of the banks and other financial institutions where investments are placed. In the last three years, changes of historical note occurred in the nation s economy and impacted financial markets and institutions dramatically, significantly increasing the complexity of administering the county s portfolio. Types of investments vary throughout the year depending on the County s cash flow requirements and the condition of the financial market. 6

7 Dog Licensing Dog licensing in Ingham County has remained relatively consistent over the last six years. The Treasurer is currently leading an effort to explore new strategies to sell dog licenses with the Animal Control Department.. 7

8 100% Tax Payment Fund - Admin Cash Account $ 662, Interest Payable 1, Office Equip & Furn 9, Depreciation Office Equip (8,999.99) Computer Equipment 269, $ Depreciation Computer Equip (269,554.10) Accrued Payroll Accounts Payable Control Retained Earnings 440, Restricted Net Assets 375, Revenue 6, Expenditures 157, $ 822, $822, Administration Charges $ 2, Interest on Investments 4, Salaries $ 7, Salaries-Temp 14, Supplies 1, Postage Suppies Legal Services Mbrshp/Subscriptions Contractual Services 23, Financial Consultant Travel-Local Travel-Instate Travel-Outstate 1, Advertising Greater Lansing Coalition Center for Financial Health Legal Aid of S C Mich 30, Power of We Capital Area United Way 12, Depreciation Expense 16, Appropriations Transfers out 50, $ 157, $ 6,

9 100% Tax Payment Fund Cash Account $ Accounts Receivable Interest Receivable Due from Land Bank 176, Forfeiture Recording Fee $ Forf Redempt Cert Fee Foreclosure Recording Fee Accounts Payable Control Retained Earnings 184, Revenue Expenditures 8, $ 185, $ 185, Revenue Control Interest Taxes Administration Fee Title Search Fee Publication Fee Site Visit Fee Pre-Forefeiture Interest on Investments $ Reimburse Salaries Local Tax Admin Charges Transfer Out to GF $ 8, $ 8, $ /1/2009 $2,250,000 Transferred to Ingham County General Fund 12/1/2013 $430,000 Transferred to Ingham County General Fund 9

10 100% Tax Payment Fund Cash Account $ Accounts Receivable Interest Receivable Due from Land Bank 156, Forfeiture Recording Fees 4, Forf Redempt Cert Fee $ Foreclosure Recording Fees Accounts Payable Control Retained Earnings 162, Reserve for Debt Serv Revenue Expenditures 2, $ 163, $ 163, Revenue Control Interest Taxes $ Administration Fee Title Search Publication Fee Site Visit Fee Pre-Forefeiture Interest on Investments $ Legal Services-refund Tax Admin Charges Transfer to F101 2, $ 2, $ /1/2011 2,710, Transferred to Ingham County General Fund 12/1/ , Transferred to Ingham County General Fund 10

11 100% Tax Payment Fund Cash Account $ 1, Accounts Receivable 4, Interest Receivable Due from Land Bank 177, Forfeiture Cert Recording 27, Prepaid Expenses Compensated Forfeiture Redemption Fee $ 15, Foreclosure Recording Fee Accounts Payable Control Retained Earnings 210, Reserve for Debt Service Revenue Expenditures 15, $ 225, $ 225, Revenue Control Interest Taxes $ Administration Fee Search Fees Publication Fee Site Visit Fee Legal Service Fee Pre-Forefeiture Interest on Investments $ Supplies Legal Fees Administration Charges Transfer to Gen Fund 15, $ 15, $ /1/2012 2,710, Transferred to Ingham County General Fund 11

12 100% Tax Payment Fund Cash Account $ 155, Accounts Receivable 16, Interest Receivable Due from Land Bank 150, Forfeiture Certificate Record 16, Prepaid Expense Machinery & Equip Computer Equipment 14, Deprec - Computer Equip (14,578.56) Notes Payable Redemption Cert Fee $ 12, Foreclosure Recording 2, Accrued Payroll Retained Earnings 522, Appropriations Estimated Revenues Budgeted F/B Unreserved Revenue 8, Expenditures 201, $ 543, $ 543, Revenue Control $ Interest Taxes 5, Administration Fee Title Search Fee Publication Fee Site Visit Fee Legal Service Fee Pre-Forefeiture Interest on Investments 1, Salaries $ Salaries-Temp Administration Charges Transfer Out 200, Depreciation Expense 1, $ 201, $ 8, /1/ , Transferred to Ingham County General Fund 12

13 100% Tax Payment Fund Cash Account $ 580, Accounts Receivable 6, Interest Receivable 7, Due from Land Bank 51, Forfeiture Certificates 20, Inv. Yield Adjustment 5, Compensated Absences $ 30, ROD Redemption 11, Foreclosure Recording Fees Accrued Payroll Costs Accounts Payable Control Retained Earnings 3,082, Revenue 59, Expenditures 2,513, $ 3,185, $ 3,185, Revenue Control $ 2, Interest Taxes 36, Administration Fee 1, Title search fees 1, Publication Fee Site Visit fees Legal Service Fee Pre-Forefeiture Interest on Investments 16, Yield Adj Market Value Reimburse Salaries Salaries Salaries-Temp Comp Absences Supplies Title Search Contractor Forf Supplies Legal Services $ 3, Contractual Services 25, Administration Charges Transfer out to GF 2,485, $ 2,513, $ 59,

14 100% Tax Payment Fund Cash Account $ 2,180, Accounts Receivable 85, Interest Receivable 4, Due from Land Bank 51, $ Forfeiture Recording Fees 11, ROD Redempt Rec Fee 8, Forclosure Recording Fees 2, Accounts Payable Control Interest Payable Retained Earnings 2,340, Revenue 91, Expenditures 109, $ 2,443, $ 2,443, Revenue Control $ 3, Interest Taxes 60, Administration Fee 4, Title Search Fee 5, Publication Fee 1, Site Visit Fee 1, Legal Services Fee 1, Pre-Forefeiture Interest on Investments 11, Reimburse Salaries Salaries $ Salaires -Temp Supplies 2, Postage 26, Title Search Contractor Forfeiture Site Visits Legal Services Mbrs/Subscriptions Contractual Services Travel Expense-Local Travel Expense-In State Travel Expense-Out State Administration Fee Land Bank Advertising Foreclosed Property Main Legal Aid Debt Interest Transfer out to F517 80, Negative Cash Interest 0.00 $ 109, $ 91,

15 100% Tax Payment Fund Cash Account $ 1,545, Taxes Rec - Current Levy Accounts Receivable 511, Interest Receivable 2, Due from Land Bank 21, Forfeiture Recording Fee 5, Prepaid Expense Vouchers Payable Notes Payable Forf Redempt Cert Fee 5, Foreclosure Recording Fee $ Accrued Payroll Costs Accounts Payable Control Interest Payable 12, Retained Earnings 1,720, Revenue 1,258, Expenditures 899, $ 2,992, $ 2,992, Revenue Control $ 46, Interest Taxes 756, Administration Fee 81, Title Search Fee 147, Publication Fee 46, Site Visit Fee 42, Legal Service Fee 60, Pre-Forefeiture 12, Interest on Investments 1, Reimburse Salaries 64, Salaries $ 76, Salaires -Temp Supplies Postage Title Search Contractor 2, Forfeiture Supplies/Misc Exp Publication Expense Legal Services 131, Membr Services 1, Contractual Services 40, Travel Expense Local Travel Expense Instate 1, Travel Expense Out of State 1, Advertising 15, Foreclosed Prop Maint 497, Legal Aid Debt Interest 5, Debt Service Charge Transfer Out to F517 30, Negative Cash Expen 0.00 $ 899, $ 1,258,

16 100% Tax Payment Fund Cash Account $ (1,228,377.49) Accounts Receivable 2,796, Interest Receivable Due from Ingham LB 11, Forf. Cert. Fee $ 10, Tax Note Payable Red.Cert. Fee 40, Forcl. Rec Fee Accounts Payable Control Interest payable Retained Earnings 895, Retained Earnings-Forf Revenue 1,458, Expenditures 745, $ 2,364, $ 2,364, Revenue Control $ 134, Interest Taxes 784, Administration Fee 186, Title Seach Fee 194, Publication Fee Site Visit Fee 54, Legal Services 44, PreForfeiture Mailing Fees 37, Interest Investments (2,939.57) Reimburse Salaries 23, Salaries $ 261, Salaires -Temp 10, Supplies 6, Postage 30, Title Search Contractor 96, Publication Expense 15, Legal Services 35, Contractual Services 72, Travel Prof Dev Instate Bank Fees Foreclosed Property Maint 204, Legal Aid Debt Interest 8, Debt Service Charge Negative Cash Expense 1, Transfer to General Fund 0.00 $ 745, $ 1,458,

17 100% Tax Payment Fund Cash Account $ (2,336,958.07) $ Accounts Receivable 9,292, Interest Receivable Forf. Cert. Fee Tax Note Payable 5,998, Red.Cert. Fee Fore. Recd Fee Accounts Payable Control Retained Earnings 2, Revenue 1,067, Expenditures 112, $ 7,067, $ 7,067, Revenue Control $ 355, Interest Taxes 358, Administration Fee 339, Title Search Fees Publication Fee Site Visit Fees Legal Service Fee Pre Forf Mailing Notice 9, Interest on Investments 4, Supplies $ 1, Postage Publication Expense Tax Admin Fees Legal/Site Visit Fee Contractual Services 49, Debt-Interest 61, Negative Cash Int Exp Transfer to F $ 112, $ 1,067,

HURON-CLINTON METROPOLITAN AUTHORITY General Fund Changes in Fund Balance

HURON-CLINTON METROPOLITAN AUTHORITY General Fund Changes in Fund Balance Original 2018 Budget Amended 2018 Budget Actual 9/30/18 Prior Year 9/30/17 Difference % Change 2018 Remaining Balance Revenues