2001 - Saginaw County

Board of Commissioners November 13, 2001
FROM: COMMITTEE ON APPROPRIATIONS -- 4.5 NOVEMBER 14, 2000
Your Budget Audit Subcommittee considered communication no. 10-16-
18 from Marvin D. Hare, Saginaw County Treasurer, submitting the
Saginaw County Delinquent Tax Revolving Fund Policy Report which
shows the details governing the distribution of revenues to the
General Fund from the Delinquent Tax Revolving Fund for 2001
(attached). This determination, in accordance with the policy
approved by the Board in February 1996, is in the amount of
$1,180,000.
The Treasurer notes that the unpledged note reserve was reduced by
nearly $47,000 this year. The main reason for this deficit was
the $150,000 increase in the contribution to the General Fund from
the unpledged note reserve. The 2002 estimated distribution to the
General Fund from the Delinquent Tax Revolving Fund has been
budgeted at $1,180,000.
It is the recommendation of your committee to accept the balances
shown in the 2001 Saginaw County Delinquent Tax Revolving Fund
Policy Report, as submitted by the County Treasurer; further, that
this informational report be received and filed.
Respectfully submitted,
COMMITTEE ON APPROPRIATIONS It is the recommendation of your
committee to concur with the above.
James M. Graham, Chair
Connie D. Smith, Vice Chair
By Commissioner Bartels: That the Report of the Committee be
received and the recommendations contained therein be adopted.
Approved.
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