Treasurer’s report received, filed in Harrison Township

HARRISON TOWNSHIP — At its meeting on May 11, the Harrison Township Board of Trustees voted 7-0 to receive and file the treasurer’s annual report for 2025.

Township Treasurer Lawrence Tomenello presented the item to the board. He also wrote down statistics in an email.

Tomenello said at the meeting he invested most of the township’s cash on hand treasuries.

“Treasuries were a great investment in the last two years,” Tomenello said. “Rates are starting to fluctuate a little bit.”

The email states the treasurer invested over $5.5 million in township and library funds in 2025.

“The Township General Fund and Water and Sewer operating fund (approximately $13,500 million), are invested on a daily basis through ‘Sweep Accounts’ which gain interest by investing on a daily rotating schedule,” the email indicated.

The earnings on investment and sweep accounts totaled to $688,836, which Tomenello said was a bit down from the previous year. He did say that rates are fluctuating downward.

The township levied a total of $50,415,731.63 in taxes. Broken down, they received $30,406,679.23 from school taxes, $7,562,345.05 from Macomb County and $12,446,707.35 in township taxes which includes money for police services, the Fire Department and the library. A note also states that Harrison Township does not levy a general operating tax.

The email stated the township-funded special assessment district outstanding balance was reduced to $441,712.42. Tomenello said the original liability that started in 2016 was $3,265,599.12. Since 2021, the township started bonding through public sales and banks.

“We were able to stop funds going into self-funded SADs and use bonds to fund projects,” Tomenello said.

He expects that by 2030, the $441,712.42 will be paid off.

The township had over $24 million in cash on hand.

The retiree start-of-year balance was $8,006,432 and the end-of-year balance was $9,533,666, funded at 31.8%. The fire pension fund start-of-year balance was $18,847,163 and the end-of-year balance was $20,814,230, funded at 58.4%. The employee pension fund start-of-year balance was $16,844,344 and the end-of-year balance was $18,142,443, funded at 74%.

Many trustees commended Tomenello and his department for the hard work on the report and managing finances.

Supervisor Kenneth Verkest said it was a great report.

Trustee Brian Batkins said he thinks that “great work” is an understatement.

“It’s pretty incredible when you start looking at it,” Batkins said.