Torch Lake Township Treasurer

5081 N US-31 \| PO Box 713 \| Eastport, MI 49627 \| Phone (231) 599-2036 \| Fax (231) 599-2981
Home Assessing Clerk Elected Officials Elections EMS Department Fire Department Links Minutes / Agendas Land Use Plan/Maps Newsletters Ordinances Planning Commission Staff Supervisor Township Board Treasurer Zoning Board of Appeals Zoning / Planning Site Map	Treasurer Sharon Schultz 231.599.2036 Office 231.599.2981 Fax schultz@torchlake.com Office Hours: Evenings/ Weekends/ by Appointment Torch Lake Township Treasurer's Responsibilities Upon receipt of the tax roll, the treasurer shall proceed to collect taxes, account for, and deliver them 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. The treasurer shall invest public funds as directed by the township board in lawful investments as authorized by state statute and township 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. The Treasurer submits monthly financial reports to the township board members for their review and approval and these reports are made available to the public. This description was excerpted from Authorities & Responsibilities of Michigan Township Officials, Boards and Commissions published by the Michigan Townships Association, copyright 1995. Summary of Township Treasurer’s Statutory Duties Collects real and personal property taxes Keeps an account of township receipts and expenditures Maintains uniform accounting system Disburses township checks Disburses township tax account checks Deposits township revenues in approved depositories Invests township funds in approved investment vehicles Collects delinquent personal property tax Prepares financial records for audit Issues dog licenses Shall appoint a deputy Shall post a surety bond

5081 N US-31 | PO Box 713 | Eastport, MI 49627 | Phone (231) 599-2036 | Fax (231) 599-2981

Treasurer

Sharon Schultz
231.599.2036 Office
231.599.2981 Fax
schultz@torchlake.com

Office Hours:
Evenings/ Weekends/ by Appointment

Torch Lake Township Treasurer's Responsibilities
Upon receipt of the tax roll, the treasurer shall proceed to collect taxes, account for, and deliver them 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.
The treasurer shall invest public funds as directed by the township board in lawful investments as authorized by state statute and township 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. The Treasurer submits monthly financial reports to the township board members for their review and approval and these reports are made available to the public.
This description was excerpted from Authorities & Responsibilities of Michigan Township Officials, Boards and Commissions published by the Michigan Townships Association, copyright 1995.

Summary of Township Treasurer’s Statutory Duties

Collects real and personal property taxes
Keeps an account of township receipts and expenditures
Maintains uniform accounting system
Disburses township checks
Disburses township tax account checks
Deposits township revenues in approved depositories
Invests township funds in approved investment vehicles
Collects delinquent personal property tax
Prepares financial records for audit
Issues dog licenses
Shall appoint a deputy
Shall post a surety bond