OTISCO TOWNSHIP— At the end of the fiscal year in March, Otisco Township had almost three times more money in assets than in expenses, according to an audit report.
During a regular meeting last Tuesday, the board and those in attendance heard a report from Larry Tiejema, a certified public accountant based in Saranac. He said it is his responsibility as the auditor to go through the financial statements of the township and evaluate its position.
Tiejema gave an in-depth breakdown of revenue sources, expenditures, assets and cash and investment deposits. According to him, the net assets of the township were $1,464,420 million for the fiscal year.
Also included in the report were some financial highlights for the township.
“They did some improvements in the cemetery and increased the cemetery budget to $10,000,” Tiejema noted.
The township increased its expenditures in the fiscal year by $3,271 for public safety by hiring a county deputy and removed a home on a newly acquired parcel of land next to the township hall for $7,300.
“It’s good to have in case of emergency,” Tiejema said. “What if the township had a problem? Would the state come barreling in here like they did for Flint?”
He emphasized that townships must have good cash reserves built up because if there is an emergency, townships are the ones “left holding the bag.”
Tiejema’s report outlined various points of emphasis about township business, including that the township provides services important to residents like road maintenance, fire and police protection, ambulance services, cemetery maintenance and improvement and holding elections; the board supports the implementation and enforcement of its zoning ordinances; and the township participates in county road projects.
His report also emphasized the Township Hall addition as a positive for the township as the board responded to a need for voting space by moving forward with an expansion.
“This is a fairly good sized township,” he said. “The board made a decision to expand. The fund equity has been built up over the years. There’s been a perceived need to increase the Township Hall.”