Canton Attains Largest General Fund Surplus Since 2008

Canton, MI — The Canton Township Board of Trustees learned Tuesday evening that their efforts to save money and spend conservatively have paid off.

According to the Canton Observer, Canton has built up its largest general fund surplus, nearly $7.1 million, since 2008.

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Michael Swartz, a partner in Plante Moran, an independent auditing firm, said Canton is in a “very solid financial position” due to cautious spending. The general fund surplus jumped from $2.5 million in 2011 to nearly $7.1 million last year.

Canton does face financial challenges in costs tied to health care and pensions. Officials were able to reduce the unfunded portion from $72.6 million to $58.3 million.

Swartz told elected officials that overall, Canton has outpaced other communities in its post-recession recovery, and said Canton’s finance and budget department efforts led to “the smoothest audit we’ve had here in some time.”

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