Troy Township Finance Committee Meeting

Roll Call

Committee Members in Attendance

• Chairman Trustee Bryan Kopman
• Vice-Chairman Trustee Jerry Nudera
• Assessor Nick Surges
• Supervisor Joseph D. Baltz
• Administrator Jennifer Dylik, a non-voting member (acting as Secretary)

Committee Members Absent

• Highway Commissioner Thomas R. Ward

A quorum was established.

Others in attendance: Clerk Larry Ryan

Guest and Citizen Comments

Chairman Kopman called three times for guest and citizen comments. No guests were present, and no comments were received.

Approval of Minutes

Motion: Vice-Chairman Nudera moved to approve the minutes from the February 23, 2026, Finance Committee meeting. Assessor Surges seconded the motion. Result: Motion carried.

Review and Discussion of Ordinance 26-27-07

Full ordinance title: An Ordinance Establishing and Adopting a Fund Balance Policy for Troy Township.

Chairman Kopman opened the meeting for the review and discussion of the proposed Fund Balance Policy presented at the May board meeting as Ordinance 26-27-07. The committee discussed items including:

• The recommendation of the Township's auditors, Lauterbach & Amen, that the Township adopt a Fund Balance Policy to comply with GASB Statement No. 54.
• Recommendations from TOI and DCEO regarding a minimum fund balance equal to six months of operating expenditures.
• State Statute fund balance limitation of 2.5 times the average annual expenditures from the past three fiscal years.

Supervisor Baltz arrives at 5:09 p.m.

• Fund balance levels as of April 1, 2026, for the General Town Fund, Road Fund, and General Assistance Fund, and the number of months of operating expenditures those balances would support.
• Past fund balance levels and the creation of the Capital Fund for the General Town Fund.
• The advantages and disadvantages of establishing minimum fund balance requirements, including potential ranges of six, nine, and twelve months of operating expenditures.
• Methods of remediation if the fund balance exceeds the limit set in the policy (i.e. transfer to another fund, levy less taxes, rebate of taxes to taxpayers, etc.).

Clerk Ryan arrives at 5:25 p.m.

Chairman Kopman summarized that he would like the policy amended to include a tax rebate as a potential remediation measure when the fund balance exceeds the policy limits. He also recommended establishing a minimum fund balance of six months and a maximum fund balance of twelve months for the General Town Fund.

The Committee further discussed and confirmed that the General Assistance Fund and Road Fund fund balance limits should remain consistent with the statutory limitation of 2.5 times the average annual expenditures of the preceding three fiscal years.

Chairman Kopman called for any additional discussion. No additional discussion was brought forward.

Motion: Supervisor Baltz moved to recommend that the Township Board adopt Ordinance 26-27-07, as presented, with the following amendments. Assessor Surges seconded the motion.

• The General Town Fund shall maintain a minimum fund balance equal to six (6) months of operating expenditures and a maximum fund balance equal to twelve (12) months of operating expenditures.
• A tax rebate shall be added as a potential remediation measure if a fund balance exceeds the limits established by the policy.

Roll Call Vote

Result: Motion carried, 4 Ayes, 0 Nays, 1 Absent.

Chairman Kopman called for new business. No new business was presented.

No additional Finance Committee meetings were scheduled.

Adjournment

Motion: Vice-Chairman Nudera moved to adjourn the meeting at 5:39 p.m. Assessor Surges seconded the motion. Result: Motion carried.

Submitted:

Jennifer Dylik, Secretary
Finance Committee Meeting

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