Highland Township officials will meet tonight, Wednesday, Oct. 24 to discuss an estimated $2.2 million general fund budget for Fiscal Year (FY) 2013, which begins on Jan. 1.
Township Clerk Mary McDonell said FY 2013 general fund revenues are expected to fall slightly from the projected FY 2012 amount of $2.35 million.
“Property values continue to decline a little bit, but our main source of funding is state-shared revenue,” she said.
Township property tax revenue is expected to be about $310,500 in FY 2013, which is 20 percent less than what has been projected by Oakland County. Property tax revenue this year totaled $395,917, down from $421,404 in FY 2011.
Sales tax revenues returned to the township in FY 2013 are expected to increase to about $1.4 million, up from about $1.3 million expected in FY 2012 and $1.3 received in FY 2011.
Township expenditures for FY 2013 are expected to total about $2.17 million, down slightly from $2.23 million approved for the current FY 2012 general fund budget, and up from $1.93 million in actual expenditures in FY 2011.
McDonell said yesterday, Tuesday, Oct. 23 that officials were still gathering figures that will be discussed today as part of the overall FY 2013 budget.
The budget workshop meeting will start at 7:30 p.m. at Township Hall, located at 205 N. John Street.