GREENWOOD TWP- The Greenwood Town Board took several steps to alleviate a cash flow issue stemming from $35,000 in legal fees incurred so far this year, most in pursuit of the dismissal of former fire chief Jeff Maus. While the township’s balance sheet shows over $412,000 in cash, with about $393,000 is tied up in investment CDs. The township’s checking account had only $1,142 as of the end of April, plus a little over $17,000 in four dedicated savings accounts.
“Don’t think we are broke,” said chair Lois Roskoski. “We just need to withdraw one of our CDs early.”
These legal fees stem from the township’s investigation of complaints against and then subsequent firing of Maus.
“We followed the legal process for termination,” said Roskoski. “We dotted our i’s and crossed our t’s.”
The board voted to move money from the savings account to the checking account, noting these funds would be repaid once the CD is cashed in. The board will cash in a $107,000 CD that was coming due on July 31, though they weren’t sure how quickly this could be done. There is not a penalty for early withdrawal, though they will lose some interest. The township will also request early partial payment of the $150,000 they expect from their township levy. Under the request, they would receive 70 percent of the funds in June with the remaining 30 percent coming during the normal July distribution.
Roskoski told the board that moving the township cash reserves into the investment CDs had been a positive move for the township.
“The CDs have been very profitable for Greenwood,” she said.
In other financial matters, treasurer Tammy Mortaloni reported she had put in about 20 extra hours last month but had gotten both the clerk’s and treasurer’s monthly reports to match, going back to the beginning of 2022. She asked the board to continue using ADP for payroll processing, since the cost is very reasonable, at $135 per month, and it can provide some benefits, such as direct deposit and employee access to their employment data, that the township cannot do on their own. The board passed a motion to continue using ADP, and to remove payroll processing from the treasurer’s job description.
Mortaloni also presented a new budget spreadsheet, which shows budget vs. actual spending, year-to-date, which will be updated monthly for the board. The board also approved the updated 2025 budget, which accounts for the $300,000 tax levy. The initial 2025 budget had projected a $150,000 tax levy, but residents had approved a $300,000 levy at the 2024 annual meeting.