For the First Time in 8 Years, Wayne County is in the Black

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WAYNE COUNTY, MI – Wayne County ended the 2014-2015 fiscal in the black for the first time in eight years, posting a general fund surplus of $5.7 million, county officials said Tuesday.

The surplus for the fiscal year that ended Sept. 30, 2015, was confirmed in the independently audited comprehensive Annual Financial report submitted to state officials.

The audit showed a $35.7 million unassigned surplus, but $20 million of it is earmarked for collective bargaining improvements, and another $10 million will be assigned to pension contributions.

"Having a surplus for the first time in eight years is a significant achievement when you consider the financial challenges we faced just over a year ago," Wayne County Executive Warren C. Evans said in a statement.

Challenges still exist, including the Gratiot jail, reducing outstanding liabilities and repairing outdated facilities, Evans said.

When Evans took office in January 2015, the county’s accumulated deficit stood at $82 million, including an structural deficit of $52 million, $1.3 billion in unfunded health care liabilities and a pension fund that was underfunded by nearly $900 million.

Evans’ plan to eliminate the structural deficit and reducing the amount of health care liabilities and unfunded pensions included making a larger than usual transfer from the Delinquent Transfer Revolving Fund from the county treasurer’s office.

Wayne County will no longer need to rely on unexpected windfalls from the DTRF, Evans said.