The Manchester Enterprise
A Heritage Newspaper
Weekly Publication
Village earns high marks for budget
Study shows funding allocated responsibly
By Ed Patino, Staff Writer
PUBLISHED: April 17, 2008
Even with the state battling tough economic times in recent years, the Village of Manchester received some good news from the Michigan Department of Treasury.
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In a study developed to predict fiscal stress that could affect local governments, the Village of Manchester showed no signs of future stress and was determined as being financially responsible.
Manchester scored an overall rating of 0 for fiscal year 2006, putting it as one of the area's most efficient communities in regards to its budget, debt, spending and financial practices.
The rating was announced during the Manchester Village Council's regular April 7 meeting.
"This is something that we can all be proud of," village president Pat Vailliencourt said. "People can see that we're fiscally responsible and don't fall into the stress category. Our staff should also be very proud of this."
The study, which was conducted by the Department of Treasury in conjunction with the Institute for Public Policy and Social Research at Michigan State University, uses nine indicators to predict fiscal stress. The indicators include population growth, real taxable value growth, large real taxable value decrease, general fund expenditures as a percent of taxable value, general fund operating deficit, prior general fund operating deficits, size of general fund balance, fund deficits in current or previous year and general long-term debt as a percent of taxable value. Manchester scored 0 in every category. According to Village Manager Jeff Wallace, had Manchester been a city, it would've ranked in the top 14 percent in the state, with the average score being 2.4.
Board trustee Jim Holland also pointed out that Manchester ranks favorably against other communities in the county.
"If you look at our neighbors, their scores are not as good," Holland said. "Washtenaw County as a whole scored -1. Chelsea scored -3 and has deficits in their fund balance, and the population declined in Ann Arbor. I think this speaks well for us in Manchester and is an excellent step."
In his report to the council, Wallace said that two things to watch in the future are population and taxable value. The village has experienced a slight growth in population, from 2,160 in 2000 to 2,258 in 2006.
"Taxable values in Michigan are suspect, as we all know we were fortunate to remain neutral this year with housing in such turmoil," Wallace said. "Our work on the manufacturing sector helped this year and hopefully next year."
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