City, Village, and Township Revenue Sharing (CVTRS)
State Legislature has continued the City, Village, and Township Revenue Sharing (CVTRS) program. Each eligible local unit must meet all of the program requirements to receive the full CVTRS payments. The following reports are provided in satisfaction of those requirements. The City of Wyoming does not have a retirement pension benefit system in underfunded status according to Section 5 of 2017 Public Act 202.
(CVTRS - Category One - Accountability and Transparency)
Citizen's Guide to Local Unit Finances (excluding enterprise funds)
Revenues
1. Where our money comes from (all governmental funds)
|
 |
2. Compared to the prior year
|
|
2021 |
2022 |
% Change
|
Taxes |
$29,769,159
|
$31,138,123
|
4.60%
|
Licenses & permits |
3,117,495
|
3,058,239
|
-1.90%
|
Intergovernmental |
23,818,015
|
22,345,729
|
-6.18%
|
Charges for services |
502,450
|
637,822
|
26.94%
|
Fines & forfeitures |
1,256,568
|
1,208,551
|
-3.82%
|
Interest & rent |
639,171
|
547,699
|
-14.31%
|
Other revenues |
3,227,119
|
6,389,004
|
97.98%
|
Total
|
$62,329,977
|
$65,325,167
|
4.81%
|
|
|
|
|
3. Revenue sources per capita - compared to the prior year
|
 |
4. Historical trends of individual sources
|
|
 |
Expenditures
1. Where we spend our money (all governmental funds)
|
 |
2. Compared to the prior year
|
|
2021 |
2022 |
% Change
|
General Government |
$5,976,913
|
$6,660,777
|
11.44%
|
Public Safety |
24,748,779
|
26,326,597
|
6.38%
|
Public Works |
10,737,570
|
9,521,178
|
-11.33%
|
Health & Welfare |
-
|
-
|
N/A
|
Comm./Econ. Development |
1,106,693
|
1,401,342
|
26.62%
|
Recreation & Culture |
6,928,154
|
7,316,791
|
5.61%
|
Capital Outlay |
1,513,769
|
2,451,223
|
61.93%
|
Debt service |
-
|
-
|
N/A
|
Other Expenditures |
5,665,888
|
7,296,257
|
28.78%
|
Surplus (Shortfall)/td> |
5,652,211
|
4,351,002
|
-23.02%
|
Total expenditures |
$62,329,977
|
$65,325,167
|
4.81%
|
3. Spending per capita - compared to the prior year
|
 |
4. Historical trends of individual departments
|
|
 |
Financial Position
1. How have we managed our govt. fund resources (fund balance)
|
 |
2. Compared to the prior year
|
|
2021 |
2022 |
% Change
|
Revenue |
$62,329,977
|
$65,325,167
|
4.81%
|
Expenditures |
56,677,766
|
60,974,165
|
7.58%
|
Surplus (shortfall) |
5,652,211
|
4,351,002
|
-23.02%
|
Fund balance, by component: |
|
|
|
Nonspendable |
550,952
|
652,150
|
18.73%
|
Restricted |
17,490,363
|
24,213,165
|
38.44%
|
Committed |
-
|
-
|
N/A
|
Assigned |
116,188
|
811,535
|
598.47%
|
Unassigned |
17,154,922
|
13,986,577
|
-18.47%
|
Total Fund Balance |
$35,312,425
|
$39,663,427
|
12.32%
|
3. Fund balance per capita - compared to the prior year
|
 |
4. Historical trends of individual components
|
 |
Other Long Term Obligations
1. Pension funding status
|
 |
2. Retiree Health care funding status
|
 |
3. Percent funded - compared to the prior year
|
 |
4. Long Term Debt obligations:
|
 |
5. Debt & other long term obligations per capita - vs. prior year
|
 |
For more information on our unit's finances, contact Jodi Yenchar at (616) 530-7201.
(CVTRS - Category One - Accountability and Transparency - Continued)
2022 Performance Dashboard (pdf)
2022 Projected Budgets for FY23 & FY24 (pdf)
2022 Debt Service Reports (pdf)
2022 Program Certification Form 4886 (pdf)