The following description was excerpted, with permission, from Authorities and Responsibilities of Michigan Township Officials, Boards and Commissions published by the Michigan Townships Association, copyright 1995.
Charter Township Treasurer's Responsibilities
Upon receipt of the tax roll, the treasurer shall proceed to collect taxes, account for, and deliver to the county treasurer and other tax assessing entities. There are two types of taxes the treasurer is charged with collecting: real property taxes and personal property taxes. The tax amount is based on the taxable value of the property and the millage assessed by the entity.
By State statute, the treasurer is required to receive and take charge of all funds belonging to the township or which are required by law to be paid into the township treasury and to pay over and account for the funds according to law or township board decision.
It is very important that the township treasurer diligently maintain accurate records of all income, receipts, and disbursements. The treasurer should maintain a uniform system of accounting as promulgated by the state treasurer and should keep an accurate accounting for each township fund so that s/he can accurately report on the status of those funds. In February 1997, the Township received its first award for Financial Reporting Achievement from the Government Finance Officers Association of the United States and Canada.
The treasurer shall invest public funds as directed by the township board in lawful investments as authorized by state statute and township investment policy. The township received a Certificate of Excellence in 1995 for its first investment policy. All funds are invested in accordance with the objectives as set forth in the following order of importance: 1) Safety of capital, 2) Liquidity, and 3) Return on Investment. A quarterly investment report is presented to the township board for approval and made available to the public.