Leelanau county treasurer`s update

Leelanau county
treasurer’s update
John A. Gallagher III
2014 Settlement
Total Settlement
$4,500,000.00
$4,000,000.00
$3,500,000.00
$3,000,000.00
$2,500,000.00
$2,000,000.00
$1,500,000.00
$1,000,000.00
$500,000.00
$-
2011 Settlement
2012 Settlement
2013 Settlement
Steady decline
 2014’s settlement was $3.1
million with 2,300 parcels.
 Leelanau County’s annual
settlement amounts have
decreased an average of 13%
per year since 2010.
 The number of parcels have
decreased an average of 6% per
year since 2010.
Parcel Count by
township
500
450
400
350
300
250
200
150
100
50
0
2011 Settlement
2012 Settlement
2013 Settlement
2014 Tax Foreclosure
In 2014 Leelanau County
foreclosed on five parcels for
unpaid property taxes. Of
these five parcels there are no
known improvements,
blighted areas or similar
concerns to disclose at this
time.
Leelanau County’s first annual
tax property auction is
scheduled August 2014 with
Grand Traverse County.
Parcel Address Tax Years Foreclosed SEV Taxes/Fees Due
004-009-018-00 S WEST-BAY SHORE DR TRAVERSE
2013,2012,2011 4,900 1,300.50
008-117-003-02 N MARIAH LN NORTHPORT
2013,2012,2011 35,140 5,188.34
008-117-003-03 N MARIAH LN NORTHPORT
2013,2012,2011 35,140 5,188.34
008-140-001-00 N COVE TRL NORTHPORT
2013,2012,2011 37,410 4,192.81
008-400-211-00 N FOREST BEACH SHRS NPORT
2013,2012,2011 8,750 1,042.91
LEELANAU COUNTY
INVESTMENTS
2013 Gross interest
In 2013 Leelanau County
earned over $98,000 in
interest revenue on
investment and money market
funds.
At the end of the year the
average purchase days to
maturity was 527 days or 1.4
years.
The ending market yield for
Leelanau County’s investment
portfolio was 1.09%,
compared to Treasury Note
Yields for the 2 year at
0.376%.
Grand Totals
$120,000.00
$100,000.00
$80,000.00
$60,000.00
$40,000.00
$20,000.00
$-
2010
2011
2012
2013
2013 Gross Interest Earnings
by fund
$60,000.00
$49,918.80
$50,000.00
$40,000.00
$30,000.00
$27,300.87
$20,000.00
$17,921.71
$10,000.00
$3,587.71
$-
2010
2011
2012
2013
Fund 101 General Fund
Fund 283 Revenue Sharing Reserve Fund
Fund 470 Capital Projects Bldg Fund
Fund 516 Unpledged DTR Funds
Investment Maturity
1,200,000.00
1,000,000.00
800,000.00
600,000.00
400,000.00
200,000.00
0.00
0 - 360 Days
13 - 24 Months 25 - 48 Months 49 - 60 Months Over 60 Months
Investment Projection

Leelanau County’s 2014
investments are on pace to
exceed 2013 by an overall
estimated 16%.



General Fund is estimated at 35%
Revenue Sharing is estimated at
0.01%
DTR is estimated at 57%
60000
50000
40000
30000
20000
10000
0
Investments include CDs, Municipal
Bonds, Agency Bonds and
Commercial Paper.
General
Fund
Revenue
Sharing
2013
2014
DTR
Leelanau County
Land Bank
Authority
Funding

Leelanau County’s Land Bank
Authority through Michigan State
Housing Authority (MSHDA) and
competitive application process
have grants available for public
safety, stabilization of property
values and enhancing economic
development. The applications
are evaluated by DHS, MSHDA
and MLB for the demolition
grants and if awarded are
facilitated by the County’s Land
Bank Authority.


Trudy Galla has been
instrumental in working with
contractors and the State
departments in obtaining the
funding necessary to accomplish
these projects.
2014 the Land Bank Authority
has one application outstanding
with MSHDA for a third
demolition project to be
completed in Leelanau Township.
LBA PROJECTS
M-22 LOG HOME
BEFORE DEMOLITION
PESHAWBESTOWN HOME
Before demolition
M-22
Project finished
Peshawbestown
Project Finished
Property Held BY the LBA

The Land Bank Authority
currently holds 24 parcels.


Two parcels (Bingham and
Suttons Bay) are currently
finalizing demolition and will
be posted for sale.
The Elmwood parcels are in
review and hopefully will be
posted for sale by July.
Township:
Bingham
Suttons Bay
Amount
$10,838.01
$3,168.22
Parcel Number Address:
001-033-021-10 7665 S. West-Bay Shore Dr.
011-642-011-30 3145 N. West-Bay Shore Dr.
Elmwood
1384.87
004-700-002-00
7720 E Timberwoods Dr.
Elmwood
1384.87
004-700-003-00
7740 E Timberwoods Dr.
Elmwood
1384.87
004-700-004-00
7748 E Timberwoods Dr.
Elmwood
1384.87
004-700-005-00
7752 E Timberwoods Dr.
Elmwood
1384.87
004-700-006-00
7760 E Timberwoods Dr.
Elmwood
1384.87
004-700-009-00
7822 E Timberwoods Dr.
Elmwood
1384.87
004-700-010-00
7840 E Timberwoods Dr
Elmwood
1384.87
004-700-011-00
11040 S Pine Knob Dr.
Elmwood
1384.87
004-700-012-00
11014 S Pine Knob Dr.
Elmwood
1384.87
004-700-013-00
10351 S High Meadows Ct.
Elmwood
1046.19
004-700-014-00
11021 S Pine Knob Dr.
Elmwood
1046.19
004-700-015-00
11051 S Pine Knob Dr.
Elmwood
1046.19
004-700-016-00
11071 S Pine Knob Dr.
Elmwood
1046.19
004-700-017-00
11091 S Pine Knob Dr
Elmwood
1046.19
004-700-018-00
11111 S Pine Knob Dr.
Elmwood
1046.19
004-700-019-00
11141 S Pine Knob Dr.
Elmwood
1046.19
004-700-020-00
11155 S Pine Knob Dr.
Elmwood
1046.19
004-700-021-00
11161 S Pine Knob Dr.
Elmwood
1046.19
004-700-022-00
11171 S Pine Knob Dr.
Elmwood
1046.19
004-700-023-00
11181 S Pine Knob Dr.
Elmwood
1046.19
004-700-024-00
11185 S Pine Knob Dr.
Elmwood
1046.19
004-700-025-00
11187 S Pine Knob Dr.
UPDATES AND OTHER
NEWS…
Leelanau County’s
Bond Rating
increased to AA+
ACPFIM Certified

Advanced Certified Public
Funds Investment Manager


Accreditation by the
Association of Public
Treasurers of the United
States and Canada
Presented by Jim Koetting,
CEO and Founder at Public
Fund Investment Strategies
and Chair of the APT US&C
CPFIM Committee.
Thank you.