Township approves $30 million 2024 FY budget

By Lisa Brody and Dana Casadei

Following a previous budget study session, the Bloomfield Township Board of Trustees unanimously approved their 2024-2025 fiscal year budget, which includes $30 million in general fund revenues, up from $26 million in fiscal year 2023-2024.

The fiscal year budget runs from July 1 to June 30, with the budget required to be approved by March 31 of each year.

In a presentation to the board, Jason Theis, township finance director, focused on the township’s digital budget box, a website-based budget book that allows residents to access and view the budget and the budget process transparently.

“We spent a significant amount of time at the study session going through the details so I’m going to use this time instead to bring back our the Digital Budget Book, and make sure everyone is aware of what information is out there,” Theis said. “One thing I wanted to point out is the updated Funds Structure, which lists all the budgeted funds and the types. If you wanted to dive in to the line-by-line that’s where the departments (tab) comes in.”

This year's budget includes $10.2 million in property taxes in the general fund budget, while the public safety fund budget will see $31 million in property tax revenues, and the road fund will receive $3.2 million from property taxes. The general fund is expected to receive $5 million in state revenue sharing, and $3.5 million in earned interest.

Expenditures include $7 million in salaries and wages for public safety, and $6.5 million in salary and wages for the fire department. Defined benefit contributions to retirement plans for public safety and fire are $6.4 million, and transfers out for OPEB for retirees are $2.7 million, while transfers out for OPEB for active employees are $1.2 million.

“This is the eighth budget I’ve had a chance to vote on and it’ll be the eighth time I voted for it, and I’m very proud to do that this time. I think we took a balanced approach to capital investment, spending on public services, paying down debt, and putting aside money for a rainy day. I’d like to commend the board and department heads for that, working together to come up with that result,” said treasurer Michael Schostak.

The board voted unanimously to approve the 2024-25 budget as presented. A full digital copy of the budget is available at charter_township-bloomfield-mi-budget-book.cleargov.com