HomeMy WebLinkAbout2023 - Audit - Tri County Regional Planning Commission 9 30 22 FS - FINAL Tri-County Regional
Planning
CommissionTRI - COUNTY
regional planning commission
Year Ended Financial
September 30, Statements
2022
Rehmann
TRI-COUNTY REGIONAL PLANNING COMMISSION
Table of Contents
Page
Independent Auditors' Report 1
Management's Discussion and Analysis 5
Basic Financial Statements
Government-wide Financial Statements:
Statement of Net Position 11
Statement of Activities 12
Fund Financial Statements:
Balance Sheet 13
Reconciliation of Fund Balance for Governmental Fund
to Net Position of Governmental Activities 14
Statement of Revenues, Expenditures, and Change in Fund Balance 15
Reconciliation of the Net Change in Fund Balance of Governmental Fund
to Change in Net Position of Governmental Activities 16
Statement of Revenues, Expenditures, and Changes in Fund Balance-
Budget to Actual -General Fund 17
Notes to Financial Statements 19
Other Supplementary Information (unaudited)
Schedule of Commission Revenues and Expenditures 31
Combining Schedule of Project Revenues and Expenditures 32
Schedule of Project Revenues and Expenditures:
Dewitt Township Permit Assistance 36
Greater Lansing Regional Committee (GLRC) 2021 37
Greater Lansing Regional Committee (GLRC) 2022 38
Groundwater Management Board (GMB) 2022 39
Regional Prosperity Grant 2018 40
Regional Prosperity Grant 2019 41
Mid-Michigan Water Authority 2021 42
Mid-Michigan Water Authority 2022 43
EDA Cares Grant 44
EDA Planning Grant 2022 45
EDA Planning Grant 2025 46
FHWA PL Funds 47
MDOT Grant: Asset Management 2021 48
Regional Transportation Contract 49
Surface Transportation Program Grant 2020 50
Surface Transportation Program Grant 2021 51
Surface Transportation Program Grant 2022 52
Michigan Avenue Corridor Study 53
TRI-COUNTY REGIONAL PLANNING COMMISSION
Table of Contents
Page
Schedule of Project Revenues and Expenditures (concluded):
MDOT Grant: Asset Management- Clinton County 54
Statewide Planning and Research 55
Analysis of Local Match 56
Analysis of Indirect Cost Rate 57
Schedule of Fringe Benefits 58
Rehmann
INDEPENDENT AUDITORS' REPORT
February 2, 2023
Board of Commissioners
Tri-County Regional Planning Commission
Lansing, Michigan
Report on the Audit of the Financial Statements
Opinions
We have audited the financial statements of the governmental activities and the general fund of Tri-
County Regional Planning Commission (the "Commission"), as of and for the year ended September 30,
2022, and the related notes to the financial statements, which collectively comprise the Commission's
basic financial statements as listed in the table of contents.
In our opinion, the financial statements referred to above present fairly, in all material respects, the
respective financial position of the governmental activities and the general fund of the Commission as of
September 30, 2022, and the respective changes in financial position thereof and the budgetary
comparison for the general fund for the year then ended in accordance with accounting principles
generally accepted in the United States of America.
Basis for Opinions
We conducted our audit in accordance with auditing standards generally accepted in the United States of
America (GAAS) and the standards applicable to financial audits contained in Government Auditing
Standards, issued by the Comptroller General of the United States. Our responsibilities under those
standards are further described in the Independent Auditors' Responsibilities for the Audit of the Financial
Statements section of our report. We are required to be independent of the Commission and to meet our
other ethical responsibilities, in accordance with the relevant ethical requirements relating to our audit.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for
our audit opinions.
0HLB AND,he A;OC N i _DIVI NETWORK
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Responsibilities of Management for the Financial Statements
Management is responsible for the preparation and fair presentation of the financial statements in
accordance with accounting principles generally accepted in the United States of America, and for the
design, implementation, and maintenance of internal control relevant to the preparation and fair
presentation of financial statements that are free from material misstatement, whether due to fraud or
error.
In preparing the financial statements, management is required to evaluate whether there are conditions
or events, considered in the aggregate, that raise substantial doubt about the Commission's ability to
continue as a going concern for twelve months beyond the financial statement date, including any
currently known information that may raise substantial doubt shortly thereafter.
Independent Auditors'Responsibilities for the Audit of the Financial Statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are
free from material misstatement, whether due to fraud or error, and to issue an auditors' report that
includes our opinions. Reasonable assurance is a high level of assurance but is not absolute assurance and
therefore is not a guarantee that an audit conducted in accordance with GAAS and Government Auditing
Standards will always detect a material misstatement when it exists. The risk of not detecting a material
misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve
collusion,forgery, intentional omissions, misrepresentations, or the override of internal control.
Misstatements are considered material if there is a substantial likelihood that, individually or in the
aggregate, they would influence the judgment made by a reasonable user based on the financial
statements.
In performing an audit in accordance with GAAS and Government Auditing Standards, we:
exercise professional judgment and maintain professional skepticism throughout the audit.
identify and assess the risks of material misstatement of the financial statements, whether due to
fraud or error, and design and perform audit procedures responsive to those risks. Such procedures
include examining, on a test basis, evidence regarding the amounts and disclosures in the financial
statements.
obtain an understanding of internal control relevant to the audit in order to design audit procedures
that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the
effectiveness of the Commission's internal control.Accordingly, no such opinion is expressed.
evaluate the appropriateness of accounting policies used and the reasonableness of significant
accounting estimates made by management, as well as evaluate the overall presentation of the
financial statements.
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conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that
raise substantial doubt about the Commission's ability to continue as a going concern for a
reasonable period of time.
We are required to communicate with those charged with governance regarding, among other matters,
the planned scope and timing of the audit, significant audit findings, and certain internal control—related
matters that we identified during the audit.
Required Supplementary Information
Accounting principles generally accepted in the United States of America require that the Management's
Discussion and Analysis, as listed in the table of contents, be presented to supplement the basic financial
statements. Such information is the responsibility of management and, although not a part of the basic
financial statements, is required by the Governmental Accounting Standards Board who considers it to be
an essential part of financial reporting for placing the basic financial statements in an appropriate
operational, economic, or historical context. We have applied certain limited procedures to the required
supplementary information in accordance with auditing standards generally accepted in the United States
of America, which consisted of inquiries of management about the methods of preparing the information
and comparing the information for consistency with management's responses to our inquiries, the basic
financial statements, and other knowledge we obtained during our audit of the basic financial statements.
We do not express an opinion or provide any assurance on the information because the limited
procedures do not provide us with sufficient evidence to express an opinion or provide any assurance.
Other information
Our audit was conducted for the purpose of forming opinions on the financial statements that collectively
comprise the Commission's basic financial statements. The other supplementary information, as listed in
the table of contents, is presented for purposes of additional analysis and are not a required part of the
basic financial statements. Such information has not been subjected to the auditing procedures applied in
the audit of the basic financial statements, and accordingly, we do not express an opinion or provide any
assurance on it.
Other Reporting Required by Government Auditing Standards
In accordance with Government Auditing Standards, we have also issued, under separate cover, our
report dated February 2, 2023, on our consideration of the Commission's internal control over financial
reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts, and
grant agreements and other matters. The purpose of that report is solely to describe the scope of our
testing of internal control over financial reporting and compliance and the results of that testing, and not
to provide an opinion on the effectiveness of the Commission's internal control over financial reporting or
on compliance. That report is an integral part of an audit performed in accordance with Government
Auditing Standards in considering the Commission's internal control over financial reporting and
compliance.
4169 ,,- 44_ LAC
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MANAGEMENT'S DISCUSSION AND ANALYSIS
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TRI-COUNTY REGIONAL PLANNING COMMISSION
Management's Discussion and Analysis
As management of the Tri-County Regional Planning Commission (the "Commission"), we offer readers of the
Commission's financial statements this narrative overview and analysis of the financial activities of the Commission
for the fiscal year ended September 30, 2022. We encourage readers to consider the information presented here in
conjunction with additional information that is furnished in the financial statements and notes to the financial
statements.
Financial Highlights
The assets of the Commission exceeded its liabilities at the close of the most recent fiscal year by $577,234 (net
position). Of this amount, $275,506 was unrestricted and may be used for operating cash-flow, match for federal
funding that was not spent this year,future program shortfalls,and capital asset purchases.
The Commission's total net position decreased by$61,031 from operations during fiscal 2022.
The General Fund received $1,785,780 in revenues. The General fund had $1,850,273 in expenditures. The
General Fund fund balance decreased by$64,493.
At the end of the current fiscal year, unassigned fund balance for the General Fund was$606,075 or 33%of total
General Fund expenditures.
Overview of the Financial Statements
This discussion and analysis is intended to serve as an introduction to the Commission's basic financial statements.
The Commission's basic financial statements comprise three components: 1) government-wide financial statements,
2)fund financial statements, and 3) notes to the financial statements.This report also contains other supplementary
information in addition to the basic financial statements themselves.
Government-wide Financial Statements. The government-wide financial statements are designed to provide
readers with a broad overview of the Commission's finances, in a manner similar to a private-sector business.
The statement of net position presents information on all of the Commission's assets and liabilities, with the
difference being net position. Over time, increases or decreases in net position may serve as a useful indicator of
whether the financial position of the Commission is improving or deteriorating.
The statement of activities presents information showing how the government's net position changed during the
most recent fiscal year. All changes in net position are reported as soon as the underlying event giving rise to the
change occurs, regardless of the timing of related cash flows. Thus, revenues and expenses are reported in this
statement for some items that will only result in cash flows in future fiscal periods.
Fund Financial Statements. A fund is a grouping of related accounts that is used to maintain control over resources
that have been segregated for specific activities or objectives. The Commission, like other state and local
governments, uses fund accounting to ensure and demonstrate compliance with finance-related legal requirements.
The Commission maintains one governmental fund.
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TRI-COUNTY REGIONAL PLANNING COMMISSION
Management's Discussion and Analysis
Governmental funds. Governmental funds are used to account for essentially the same functions reported as
governmental activities in the government-wide financial statements. However, unlike the government-wide
financial statements, governmental fund financial statements focus on near-term inflows and outflows of spendable
resources, as well as on balances of spendable resources available at the end of the fiscal year. Such information
may be useful in evaluating an Commission's near-term financing requirements.
Because the focus of governmental funds is narrower than that of the government-wide financial statements, it is
useful to compare the information presented for governmental funds (modified accrual) statements with similar
information presented for government-wide financial statements. By doing so, readers may better understand the
long-term impact of the government's near-term financing decisions. Both the governmental fund balance sheet and
the governmental fund statement of revenues, expenditures, and change in fund balance provide a reconciliation to
facilitate this comparison between governmental funds and governmental activities.
The Commission adopts an annual appropriated budget for the General Fund. A budgetary comparison statement
has been provided to demonstrate compliance with this budget.
Notes to the Financial Statements. The notes to the financial statements provide additional information that is
essential to a full understanding of the data provided in the financial statements.
Supplementary Information. In addition to the basic financial statements and accompanying notes, this report also
presents the management's discussion and analysis, which is considered required supplementary information, and
other supplementary information.
Government-wide Financial Analysis
As noted earlier, net position may serve over time as a useful indicator of a government's financial position. In the
case of the Commission,assets exceeded liabilities by$577,234 at the end of the September 30, 2022 fiscal year.
Summary of Net Position
2022 2021
Assets
Current and other assets $ 1,204,536 $ 1,236,417
Capital assets, net 301,728 5,456
Total assets 1,506,264 1,241,873
Current and other liabilities 929,030 603,608
Net position
Investment in capital assets 301,728 5,456
Unrestricted 275,506 632,809
Total net position $ 577,234 $ 638,265
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TRI-COUNTY REGIONAL PLANNING COMMISSION
Management's Discussion and Analysis
The net position is separated into two major components; investment in capital assets (e.g., equipment less related
debt, if any),which amounted to$301,728 and the unrestricted net position of$275,506.
The Commission's net position decreased by$61,031 during the current fiscal year.
Statement of Activities
2022 2021
Revenues
Program revenues:
Operating grants and contributions $ 1,814,029 $ 1,632,783
General revenues:
Investment earnings (28,249) 3,790
Total revenues 1,785,780 1,636,573
Expenses 1,846,811 1,590,836
Change in net position (61,031) 45,737
Net position:
Beginning of year 638,265 592,528
End of year $ 577,234 $ 638,265
Total revenue increased by$149,207 during the year due to increased funding from transportation programs.
Total expense increased by$255,975 during the year due to increased cost related to transportation programs.
Summary of Fund Financial Statements
Governmental fund. As noted earlier, the focus of the governmental fund (modified accrual) financial statements is
to provide information on the near-term inflows, outflows, and balances of spendable resources. Such information is
useful in assessing the Commission's financing requirements. In particular, unassigned fund balance may serve as a
useful measure of a government's net resources available for spending at the end of the fiscal year.
As of the end of the current fiscal year, the Commission's governmental fund reported an ending fund balance of
$615,167, a decrease of$64,493 from the prior year. $9,092 of the fund balance is considered nonspendable related
to the prepaids.
At the end of the current fiscal year, unassigned fund balance for the General Fund was $606,075 or 33% of total
General Fund expenditures.
The decrease in the fund balance of$64,493 is mainly due to the decrease in federal expenditures that required local
match.
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TRI-COUNTY REGIONAL PLANNING COMMISSION
Management's Discussion and Analysis
Budgetary Highlights
The Commission adopts an annual budget for the General Fund. A budgetary comparison statement has been
provided as supplementary information to demonstrate compliance with this budget.
Revenues and expenditures were both decreased by$483,797 between the original budget and the final budget.The
Commission budget was amended during the year to reflect a decrease in fund balance of$36,946. Federal revenue
was decreased from original to amended budget by$267,925 and the related the consultant fee/contractual services
expenditures were amended by the same amount due to decrease expenditures of federal revenue related to
economic development programs funds. Further, state revenue was decreased from the original to amended budget
by $215,872 and the related pass through expenditures were amended due to Regional Prosperity Initiative
programs delayed due to COVID-19. Revenues and expenditures were lower than anticipated by $285,500 and
$257,953, respectively.Significant variances between budget and actual amounts for the year are described below:
Federal revenue was under budget by $214,827 due to delay in transportation programs starting and staff
vacancy in the economic development program.
Salaries and wages were under budget by $109,271 due to staff vacancies in transportation and economic
development programs.
Special projects were under budget by$40,540 due to delay in projects because of staff vacancies.
Capital Assets
The following is a summary of capital assets and the associated accumulated depreciation/amortization:
2022 2021
Furniture and equipment $ 196,220 $ 196,220
Leased building 346,567 -
Less accumulated depreciation/amortization (241,059) (190,764)
Net capital assets $ 301,728 $ 5,456
During the year,the Commission implemented the provisions of GASB Statement No. 87, Leases, in the current year
which increased leased assets,and a corresponding lease payable was recorded.
The capital assets of the Commission consist exclusively of office furniture and equipment and a leased building. The
Commission has implemented a capitalization policy consistent with MDOT and federal funding that require all items,
other than buildings, building improvements and land improvements, purchased having a useful life in excess of one
year and an individual cost of more than $5,000 be capitalized and depreciated. The capitalization threshold for
buildings and building improvements is $50,000 and $25,000 for land improvements. Note 4 to the financial
statements provides additional information regarding capital assets.
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TRI-COUNTY REGIONAL PLANNING COMMISSION
Management's Discussion and Analysis
Economic Factors and Next Year's Budget
The following factors were considered in preparing the Commission's budget for the 2022-2023 fiscal year:
The Commission prepared the 2022-2023 budget with the same level of dues from its members. The dues will
increase in FY 2023—2024 to meet the new level of federal funds that are available.
Requests for Information
This financial report is designed to provide a general overview of the Commission's finances and to demonstrate the
Commission's accountability for the revenues it receives. Anyone having questions regarding this report or desiring
additional information may contact the Commission's office at 3135 Pine Tree Rd. Ste 2C, Lansing, MI 48911, (517)
393-0342.
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BASIC FINANCIAL STATEMENTS
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TRI-COUNTY REGIONAL PLANNING COMMISSION
Statement of Net Position
Governmental Activities
September 30,2022
Assets
Cash and cash equivalents $ 536,001
Investments 271,288
Due from other governmental units 388,155
Prepaids 9,092
Capital assets being depreciated,net 301,728
Total assets 1,506,264
Liabilities
Accounts payable and accrued liabilities 132,759
Compensated absences 42,685
Unearned revenue 456,610
Lease payable:
Due within one year 45,401
Due in more than one year 251,575
Total liabilities 929,030
Net position
Investment in capital assets 301,728
Unrestricted 275,506
Total net position $ 577,234
The accompanying notes are an integral part of these financial statements.
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TRI-COUNTY REGIONAL PLANNING COMMISSION
Statement of Activities
Governmental Activities
For the Year Ended September 30,2022
Program Revenue
Net(Expense)
Operating Revenue and
Grants and Changesin
Functions/Programs Expenses Contributions Net Position
Community and economic development planning programs $ 1,846,811 $ 1,814,029 $ (32,782)
General revenues
Investment earnings (28,249)
Change in net position (61,031)
Net position,beginning of year 638,265
Net position,end of year $ 577,234
The accompanying notes are an integral part of these financial statements.
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TRI-COUNTY REGIONAL PLANNING COMMISSION
Balance Sheet
Governmental Fund
September 30,2022
Assets
Cash and cash equivalents $ 536,001
Investments 271,288
Due from other governmental units 388,155
Prepaids 9,092
Total assets $ 1,204,536
Liabilities
Accounts payable $ 87,463
Accrued wages 45,296
Unearned revenue 456,610
Total liabilities 589,369
Fund balance
Nonspendable-prepaids 9,092
Unassigned 606,075
Total fund balance 615,167
Total liabilities and fund balance $ 1,204,536
The accompanying notes are an integral part of these financial statements.
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TRI-COUNTY REGIONAL PLANNING COMMISSION
Reconciliation
Fund Balance for Governmental Fund
to Net Position of Governmental Activities
September 30,2022
Fund balance-governmental fund $ 615,167
Amounts reported for the governmental activities in the statement of net position are different because:
Capital assets used in governmental activities are not financial resources,and therefore are not reported in
the fund statements.
Capital assets being depreciated,net 301,728
Certain liabilities, such as compensated absences, are not due and payable in the current period, and
therefore are not reported in the funds.
Lease payable (296,976)
Compensated absences (42,685)
Net position of governmental activities $ 577,234
The accompanying notes are an integral part of these financial statements.
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TRI-COUNTY REGIONAL PLANNING COMMISSION
Statement of Revenues, Expenditures,and Change in Fund Balance
Governmental Fund
For the Year Ended September 30,2022
Revenues
Intergovernmental:
Federal $ 1,147,072
State 103,728
Local 191,824
Member allocations 363,334
Investment income(loss) (28,249)
Other 8,071
Total revenues 1,785,780
Expenditures
Current:
Community and economic development planning programs 1,850,273
Net change in fund balance (64,493)
Fund balance,beginning of year 679,660
Fund balance,end of year $ 615,167
The accompanying notes are an integral part of these financial statements.
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TRI-COUNTY REGIONAL PLANNING COMMISSION
Reconciliation
Net Change in Fund Balance of Governmental Fund
to Change in Net Position of Governmental Activities
For the Year Ended September 30,2022
Net change in fund balance-governmental fund $ (64,493)
Amounts reported for the governmental activities in the statement of activities are different because:
Governmental funds report capital outlays as expenditures. However, in the statement of activities, the
cost of those assets is allocated over their estimated useful lives and reported as depreciation/amortization
expense.
Depreciation/amortization (50,295)
Some expenses reported in the statement of activities do not require the use of current financial resources
and therefore are not reported as expenditures in governmental funds.
Principal payments on lease payable 49,591
Change in the accrual for compensated absences 4,166
Change in net position of governmental activities $ (61,031)
The accompanying notes are an integral part of these financial statements.
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TRI-COUNTY REGIONAL PLANNING COMMISSION
Statement of Revenues,Expenditures,and Changes in Fund Balance
Budget and Actual-General Fund
For the Year Ended September 30,2022
Actual Over
Original Final (Under)Final
Budget Budget Actual Budget
Revenues
Intergovernmental:
Federal $ 1,629,824 $ 1,361,899 $ 1,147,072 (214,827)
State 354,049 138,177 103,728 (34,449)
Local 203,869 203,869 191,824 (12,045)
Member allocations 363,335 363,335 363,334 (1)
Interest income(loss) - - (28,249) (28,249)
Other 4,000 4,000 8,071 4,071
Total revenues 2,555,077 2,071,280 1,785,780 (285,500)
Expenditures
Community and economic development:
Salaries and wages 915,430 915,430 806,159 (109,271)
Fringe benefits 366,172 366,172 341,453 (24,719)
Discretionary fund 5,000 5,000 3,032 (1,968)
Telephone 9,250 9,250 9,253 3
Postage 1,000 1,000 300 (700)
Printing and copying 9,650 9,650 3,624 (6,026)
Office supplies 15,000 15,000 7,075 (7,925)
Travel-in region 16,700 16,700 8,394 (8,306)
Travel-out region 11,223 7,073 3,991 (3,082)
Training 4,000 4,000 242 (3,758)
Commission meeting expenses 5,000 5,000 3,125 (1,875)
Rent 78,000 78,000 58,970 (19,030)
Facilities 2,050 2,050 11,658 9,608
Computer services 50,000 50,000 36,178 (13,822)
Computer software 34,000 34,000 30,197 (3,803)
Insurance 6,600 6,900 6,893 (7)
Bank service charges 1,500 1,500 1,003 (497)
Subscriptions/publications 1,050 1,050 323 (727)
Advertising 4,100 6,100 6,598 498
Membership dues 11,000 11,000 4,026 (6,974)
Special projects 54,000 54,000 13,460 (40,540)
Consultant fee/contractual services 695,500 427,575 446,004 18,429
Equipment 17,500 17,500 - (17,500)
Audit 10,500 12,350 12,350
Pass-through 267,798 51,926 35,965 (15,961)
Total expenditures 2,592,023 2,108,226 1,850,273 (257,953)
Net change in fund balance (36,946) (36,946) (64,493) (27,547)
Fund balance,beginning of year 679,660 679,660 679,660
Fund balance,end of year $ 642,714 $ 642,714 $ 615,167 $ (27,547)
The accompanying notes are an integral part of these financial statements.
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NOTES TO FINANCIAL STATEMENTS
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TRI-COUNTY REGIONAL PLANNING COMMISSION
Notes to Financial Statements
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Tri-County Regional Planning Commission (the "Commission") is a governmental unit established July 18,
1956, under the authority of Act 281 of Michigan Public Acts of 1945. The Commission is a voluntary
organization joining Clinton, Eaton, and Ingham Counties and the City of Lansing to foster a cooperative
effort in identifying and resolving various community planning issues in the Tri-County area. Primary
financing is provided through various agreements with state and federal agencies and local appropriations.
The financial statements of the Commission have been prepared in conformity with generally accepted
accounting principles (GAAP) as applied to governmental units. The Governmental Accounting Standards
Board (GASB) is the accepted standard setting body for establishing governmental accounting and financial
reporting principles.The more significant of the Commission's accounting policies are described below.
Reporting Entity
All funds (primary government) under direct control of the Commission are included in this report. These
funds are those which meet the criteria established by the Governmental Accounting Standards Board
(GASB). The Commission is considered a special purpose governmental unit operating governmental
activities and account for those activities in a single governmental fund.
Basis of Presentation
Government-wide Financial Statements
The government-wide financial statements (i.e., the statement of net position and the statement of
activities) report information on all of the nonfiduciary activities of the primary government. Governmental
activities, which normally are supported by taxes and intergovernmental revenue, are reported separately
from business-type activities, which rely to a significant extent on fees and charges for support. The
Commission had no business-type activities during the year ended September 30, 2022.
The statement of activities presents the direct functional expenses of the Commission and the program
revenues that support them. Direct expenses are specifically associated with a service, program, or
department and are therefore clearly identifiable to a particular function. Program revenues are associated
with specific functions and include charges to recipients of goods or services and grants and contributions
that are restricted to meeting the operational or capital requirements of that function. Revenues that are
not required to be presented as program revenues are general revenues.This includes all interest and other
general revenues and shows how governmental functions are either self- financing or supported by the
general revenues of the Commission.
Fund Financial Statements
The fund financial statements present the Commission's only fund. The General Fund is the Commission's
operating fund. It is used to account for all financial resources of the Commission. General Fund activities are
financed by revenue from governmental grants, member allocations, and other sources.
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TRI-COUNTY REGIONAL PLANNING COMMISSION
Notes to Financial Statements
Measurement Focus, Basis of Accounting,and Financial Statement Presentation
The government-wide financial statements are reported using the economic resources measurement focus
and the accrual basis of accounting. Revenue is recorded when earned and expenses are recorded when a
liability is incurred, regardless of the timing of related cash flows. Grants and similar items are recognized as
revenue as soon as all eligibility requirements imposed by the provider have been met.
Governmental fund financial statements are reported using the current financial resources measurement
focus and the modified accrual basis of accounting. Revenue is recognized as soon as they are both
measurable and available. Revenue is considered to be available when they are collectible within the current
period or soon enough thereafter to pay liabilities of the current period. For this purpose, the government
considers revenue to be available if they are collected within 60 days of the end of the current fiscal period.
Expenditures generally are recorded when a liability is incurred, as under accrual accounting.
When both restricted and unrestricted resources are available for use, it is the Commission's practice to use
restricted resources first,then unrestricted resources as they are needed.
Assets,Liabilities and Equity
Cash and Investments
Cash consists of the Commission's checking and savings accounts.
In accordance with Michigan Compiled Laws, the Commission is authorized to invest in the following
investment vehicles:
a. Bonds, securities, and other obligations of the United States or an agency or instrumentality of the
United States.
b. Certificates of deposit, savings accounts, deposit accounts, or depository receipts of a bank which is a
member of the Federal Deposit Insurance Corporation (FDIC) or a savings and loan association which is a
member of the Federal Savings and Loan Insurance Corporation (FSLIC) or a credit union which is insured
by the National Credit Union Administration, but only if the bank, savings and loan association, or credit
union is eligible to be a depository of surplus funds belonging to the State under Section 5 or 6 of Act No.
105 of the Public Acts of 1855, as amended, being Section 21.145 and 21.146 of the Michigan Compiled
Laws.
c. Commercial paper rated at the time of purchase within the three highest classifications established by
not less than two standard rating services and which matures not more than 270 days after the date of
purchase.
d. The United States government or Federal agency obligations repurchase agreements.
e. Bankers' acceptances of United States banks.
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TRI-COUNTY REGIONAL PLANNING COMMISSION
Notes to Financial Statements
f. Mutual funds composed of investment vehicles, which are legal for direct investment by local units of
government in Michigan.
Receivables and Unearned Revenue
Amounts due from other governments include amounts due from grantors for specific programs and capital
projects. Program grants and capital grants for capital assets are recorded as receivables and revenues at the
time reimbursable project costs are incurred. Revenues received in advance of project costs being incurred
are shown as unearned revenue.
Prepaids
Certain payments to vendors reflect costs applicable to future accounting periods and are recorded as
prepaid items in both the government-wide and fund financial statements. The cost of prepaid items is
recorded as expenditures/expenses when consumed rather than when purchased.
Capital Assets
Capital assets are recorded (net of accumulated depreciation, if applicable) and are those assets with an
initial individual cost of$50,000 for buildings and building improvements, $25,000 for land improvements,
and $5,000 for all other assets and an estimated useful life of more than one year. All purchased capital
assets are valued at cost where historical records are available and at an estimated historical cost where no
historical records exist. Donated capital assets are valued at their estimated acquisition value on the date
received.
The cost of normal maintenance and repairs that do not add to the value of the asset or materially extend
asset lives are not capitalized. Depreciation and amortization are computed using the straight-line method
over a useful live of 3 to 10 years.
Indirect Cost Allocations
Indirect costs are allocated to all projects equally. Allocated indirect costs in excess of amounts that can be
funded by a contract or grant are absorbed by the Commission through indirect credits. The indirect cost
rate percentage is applied only against allowable direct costs in each project.
Compensated Absences
Accumulated unpaid vacation benefit obligations are accrued when incurred; as such obligations are
expected to be paid within the ensuing year.
For governmental funds, the cost of accumulated vacation along with the related payroll taxes expected to
be paid with current expendable resources is recorded as a fund liability.
Vacation leave is earned in varying amounts depending on the number of years of service of an employee
and is made available on the anniversary date of the employee.
21
TRI-COUNTY REGIONAL PLANNING COMMISSION
Notes to Financial Statements
Upon termination, an employee receives payment for the balance of unused vacation leave, which is
credited to an employee each month.
Fund Balance Classification
Governmental funds report nonspendable fund balance for amounts that cannot be spent because they are
either (a) not in spendable form or (b) legally or contractually required to be maintained intact. Restricted
fund balance is reported when externally imposed constraints are placed on the use of resources by
grantors, contributors, or laws or regulations of other governments. Committed fund balance is reported for
amounts that can only be used for specific purposes pursuant to constraints imposed by formal action of the
Commission's Board (the government's highest level of decision-making authority). A formal resolution of
the Board is required to establish, modify, or rescind a fund balance commitment. The Commission reports
assigned fund balance for amounts that are constrained by the government's intent to be used for specific
purposes, but are neither restricted nor committed. The Board has not approved a policy indicating who is
authorized to make fund balance assignments, as a result, this authority is retained with the Board.
Unassigned fund balance is the residual classification for the General Fund.
Use of Estimates
The preparation of financial statements in conformity with accounting principles generally accepted in the
United States of America requires management to make estimates and assumptions that affect the amounts
reported in the financial statements and accompanying notes. Actual results may differ from those
estimates.
2. BUDGETARY INFORMATION
A comparison to budget is presented for the General Fund as required by generally accepted accounting
principles. The budget for the General Fund is adopted on a basis consistent with generally accepted
accounting principles("GAAP"). General Fund expenditures are budgeted at the activity level.
Adoption and amendments of budgets used by the Commission are governed by Public Act 621. Any
amendment of the original budget must meet the requirements of Public Act 621.
For the year ended September 30, 2022, the Commission's expenditures were in excess of the amounts
appropriated, as follows:
Final Budget Actual Over Budget
General Fund
Telephone $ 9,250 $ 9,253 $ 3
Facilities 21050 11,658 9,608
Advertising 61100 6,598 498
Consultant fee/contractual services 427,575 446,004 18,429
22
TRI-COUNTY REGIONAL PLANNING COMMISSION
Notes to Financial Statements
3. CASH AND INVESTMENTS
The following summarizes the categorization of cash and investments as of September 30, 2022:
Statement of Net Position
Cash and cash equivalents $ 536,001
Investments 271,288
Total $ 807,289
Deposits and investments
Bank deposits:
Checking and savings accounts $ 535,851
Investments:
Money market funds $ 3,880
Equity funds 35,207
Fixed income 131,426
Michigan CLASS pool 100,775
Total investments 271,288
Cash on hand 150
Total $ 807,289
Interest Rate Risk. State law limits the allowable investments and the maturities of some of the allowable
investments as identified in Note 1 the summary of significant accounting policies. The Commission's
investment policy does not have specific limits in excess of state law on investment maturities as a means of
managing its exposure to fair value losses arising from increasing interest rates. None of the investments
listed above have specific maturity dates.
23
TRI-COUNTY REGIONAL PLANNING COMMISSION
Notes to Financial Statements
Credit Risk. State law limits investments to specific government securities, certificates of deposits and bank
accounts with qualified financial institutions, commercial paper with specific maximum maturities and
ratings when purchased, bankers acceptances of specific financial institutions, qualified mutual funds and
qualified external investments. Commercial paper must be rated within the two highest classifications
established by not less than two standard rating services.The Commission's investment policy does not have
specific limits in excess of state law on investment credit risk. As of September 30, 2022, the Commission's
investment ratings are disclosed below:
Standard&
Fair Value Poor's Rating
Money market funds $ 3,880 N/A
Equity funds 35,207 N/A
Fixed income 78,204 AAA
Fixed income 1,564 AA
Fixed income 5,231 A
Fixed income 8,497 BAA
Fixed income 18,827 BBB
Fixed income 6,514 BB
Fixed income 7,416 B
Fixed income 1,268 B-
Fixed income 3,905 N/A
Michigan CLASS pool 100,775 N/A
Total $ 271,288
Concentration of Credit Risk. State law limits allowable investments but does not limit concentration of
credit risk as identified in Note 1 the summary of significant accounting policies. The Commission's
investment policy does not have specific limits in excess of state law on concentration of credit. All
investments held at year-end are reported above.
Custodial Credit Risk - Deposits. Custodial credit risk is the risk that, in the event of a bank failure, the
Commission's deposits might not be returned. As of September 30, 2022, $144,899 of the Commission's
bank balance of$577,864 was exposed to custodial credit risk because it was uninsured and uncollateralized.
Custodial Credit Risk—Investments. For an investment, custodial credit risk is the risk that, in the event of
the failure of the counterparty, the Commission will not be able to recover the value of its investments or
collateral securities that are in the possession of an outside party. State law does not require and the
Commission does not have a policy for investment custodial credit risk. On the investments listed above,
there is no custodial credit risk, as these investments are uncategorized as to credit risk.
24
TRI-COUNTY REGIONAL PLANNING COMMISSION
Notes to Financial Statements
Fair Value Measurement. The Authority categorizes its fair value measurements within the fair value
hierarchy established by generally accepted accounting principles. The hierarchy is based on the valuation
inputs used to measure the fair value of the asset. Level 1 inputs are quoted prices in active markets for
identical assets; Level 2 inputs are significant other observable inputs; and Level 3 inputs are significant
unobservable inputs.
The Authority has the following recurring fair value measurements as of September 30, 2022:
Level Level Level Total
Equity funds $ 35,207 $ - $ - $ 35,207
Fixed income - 131,426 - 131,426
Total investments by fair
value level $ 35,207 $ 131,426 $ - 166,633
Investments carried at net asset value:
Michigan CLASS pool 100,775
Money market funds 3,880
Total investments $ 271,288
Securities traded on a national or international exchange are valued at the last reported sales price at
current exchange rates. After the initial offering period, fixed income securities are valued based on active
trade data for comparable investments. Equity funds are valued by fund managers based on the fair value of
the underlying securities.
The Commission holds shares in the Michigan CLASS government investment pool whereby the fair value of
the investment is measured on a recurring basis using net asset value per share (or its equivalent) of the
investment pool as a practical expedient.
At year end,the net asset value of the Authority's investment in the Michigan CLASS government investment
pool was $100,775. The investment pool had no unfunded commitments, specific redemption frequency or
redemption notice period required. The Michigan CLASS government investment pool invests in U.S.
treasury obligations,federal agency obligations of the U.S. government, high-grade commercial paper(rated
'A-1' or better) collateralized bank deposits, repurchase agreements (collateralized at 102% by Treasuries
and agencies), and approved money-market funds. The program seeks to provide safety, liquidity,
convenience, and competitive rates of return, and is designed to meet the needs of Michigan public sector
investors. It purchases securities that are legally permissible under state statutes and are available for
investment by Michigan counties, cities,townships, school districts, authorities and other public agencies.
25
TRI-COUNTY REGIONAL PLANNING COMMISSION
Notes to Financial Statements
4. CAPITAL ASSETS
Capital asset activity for the Commission for the year ended September 30, 2022,was as follows:
Beginning Ending
Balance Additions Disposals Transfers Balance
Capital assets, being depreciated:
Furniture and equipment $ 196,220 $ - $ - $ - $ 196,220
Right to use asset
(building) - 346,567 - - 346,567
196,220 346,567 - - 542,787
Less accumulated depreciation/
amortization for:
Furniture and equipment (190,764) (704) - - (191,468)
Right to use asset
(building) - (49,591) - - (49,591)
(190,764) (50,295) - - (241,059)
Capital assets, net $ 5,456 $ 296,272 $ - $ - $ 301,728
5. COMPENSATED ABSENCES
The following is a summary of changes in compensated absences (including current portion) of the
Commission for the year ended September 30, 2022:
Beginning Ending Due Within One
Balance Additions Deletions Balance Year
Compensated absences $ 46,851 $ 135,723 $ (139,889) $ 42,685 $ 42,685
26
TRI-COUNTY REGIONAL PLANNING COMMISSION
Notes to Financial Statements
6. RETIREMENT PLAN
The Commission provides pension benefits for all non-temporary employees through a defined contribution
plan, which was established by the Board of Commissioners and may be amended from time to time by the
Board. This plan is administered by the Michigan Municipal Employees Retirement System. In a defined
contribution plan, benefits depend solely on amounts contributed to the plan plus investment earnings.The
Commission's contributions are vested at a graded rate based on year of service.
Years of Vesting
Service Percentage
1 0%
2 20%
3 40%
4 60%
5 80%
6 100%
The employer is required to contribute 9%of all covered payroll, which was$71,327 in the current year.The
employer met the required contribution in the plan for the year. Covered payroll was $784,106, and total
payroll was$806,159 during the fiscal year.
7. CONTINGENT LIABILITIES
Under the terms of various federal and state grants, periodic compliance audits are required, and certain
costs may be questioned, allowed,or disallowed,which could result in funds being returned and/or received
from grantor agencies.
8. ECONOMIC DEPENDENCY
The Commission receives substantially all of its support from federal, state, and local governments. A
significant reduction in the level of this support, if this were to occur, could have an effect on the
Commission's activities.
27
TRI-COUNTY REGIONAL PLANNING COMMISSION
Notes to Financial Statements
9. LEASES
Lessee - The Commission is involved in an agreement as a lessee that qualifies as a long-term lease
agreement. Below is a summary of the nature of this agreement. This agreement qualifies as an intangible,
right-to-use asset and not a financed purchase, as the Commission will not own the asset at the end of the
contract term and the noncancelable term of the agreement surpasses one year.
Remaining
Term of
Agreement
Asset Type
Building 6 years
The asset acquired through a lease in governmental activities is summarized as follows:
Building $ 346,567
Less accumulated amortization (49,591)
Net book value $ 296,976
Lease liability activity for the year ended June 30, 2022,was as follows:
Beginning Due Within One
Balance Additions Deductions Ending Balance Year
Lease payable $ - $ 346,567 $ (49,591) $ 296,976 $ 45,401
Year Ended
September 30, Principal
2023 $ 45,401
2024 45,401
2025 46,324
2026 46,786
2027 46,786
2028-2029 66,278
Total $ 296,976
28
TRI-COUNTY REGIONAL PLANNING COMMISSION
Notes to Financial Statements
10. RISK MANAGEMENT
The Commission participates in the Michigan Township Participating Plan (the "Plan"), with other
municipalities for property, liability, auto, crime, public official wrongful acts, boiler and machinery, inland
marina, and EDP losses. The Plan is organized under Public Act 138 of 1982, as amended. The Plan, while it
operates under the Michigan Legislation of Public Act 138, does not operate as a risk pool due to the transfer
of risk to U.S. Specialty Insurance Company ("USSIC") backing the Michigan Township Participating Plan
under a master policy. Due to the Master Policy purchase,there is no pooling of risk between members, but
is instead considered commercial insurance. Settled claims relating to this insurance have not exceeded the
amount of insurance coverage in any of the past three years.
The Commission carries commercial insurance for the risk of loss due to workers' compensation claims.
Settled claims relating to commercial insurance have not exceeded the amount of insurance coverage in any
of the past three fiscal years.
11. CORONAVIRUS(COVID-19)
In March 2020, the World Health Organization declared the novel coronavirus outbreak (COVID-19) to be a
global pandemic. While the pandemic has resulted in an increase in the demands on the Commission for
providing emergency services to its citizens, the Federal Government has also provided significant resources
to help mitigate the impacts of COVID-19. The Commission directly received approximately $74,000 during
2022 from various funding sources to be used to respond to the impacts of the COVID-19 pandemic through
the CARES Act and other funding sources. This funding was used to capture data and metrics to understand
the extensive economic impacts COVID-19 had on the Tri-County region. This information was used to
develop goals, strategies, and actions that mitigate the effects of future economic disruptions, identify and
address current vulnerabilities, and support short and long-term recovery efforts.
MENEM
29
OTHER SUPPLEMENTARY INFORMATION
30
TRI-COUNTY REGIONAL PLANNING COMMISSION
Schedule of Commission Revenues and Expenditures(Unaudited)
For the Year Ended September 30,2022
Special Projects
Operating Indirect Direct Total Eliminations Total
Revenues
Federal sources $ $ $ 1,147,072 $ 1,147,072 $ $ 1,147,072
State sources 103,728 103,728 103,728
Local sources 191,824 191,824 191,824
Member allocations 363,334 - - 363,334
Investment income(loss) (28,249) (28,249)
Other 8,775 - - (704) 8,071
Local match - 271,887 271,887 (271,887) -
Total revenues 343,860 1,714,511 1,714,511 (272,591) 1,785,780
Expenditures
Direct costs:
Salaries and wages 59,659 147,478 599,022 746,500 806,159
Fringe benefits 29,459 62,593 249,401 311,994 341,453
Discretionary fund 3,032 - - - 3,032
Telephone - 9,073 180 9,253 9,253
Postage - 300 - 300 300
Printing and copying 635 784 2,205 2,989 3,624
Office supplies - 4,839 2,236 7,075 7,075
Travel-in region 645 2,971 4,778 7,749 8,394
Travel-out region - 108 3,883 3,991 3,991
Training - 28 214 242 242
Commission meeting expenses 3,125 - - - 3,125
Rent - 57,670 1,300 58,970 58,970
Facilities 11,658 - 11,658 11,658
Computer services 34,462 1,716 36,178 36,178
Computer software 16,030 14,167 30,197 30,197
Insurance - 6,893 - 6,893 6,893
Bank service charges 1,003 - - 1,003
Subscriptions/publications - 323 - 323 323
Advertising 2,882 1,597 2,119 3,716 - 6,598
Depreciation - 704 - 704 (704) -
Membership dues - 2,789 1,237 4,026 - 4,026
Special projects 3,886 - 9,574 9,574 13,460
Consultant fee/contractual services - 500 445,504 446,004 446,004
Audit 12,350 - 12,350 12,350
Pass-through - - 35,965 35,965 35,965
Transfer for match 271,887 - - (271,887) -
Indirect costs 32,140 (373,150) 341,010 (32,140) -
Total expenditures 408,353 1,714,511 1,714,511 (272,591) 1,850,273
Revenues under expenditures $ (64,493) $ $ - $ - $ $ (64,493)
31
TRI-COUNTY REGIONAL PLANNING COMMISSION
Combining Schedule of Project Revenues and Expenditures(Unaudited)
For the Year Ended September 30, 2022
Greater Greater
Lansing Lansing Groundwater
Regional Regional Management
Dewitt Permit Committee Committee Board
Assistance (GRLC)2021 (GRLC)2022 (GMB)2022
(30110) (30310) (30300) (30400)
Revenues
Federal sources $ $ - $ $
State sources - -
Local sources 1,063 20,976 68,715 99,260
Local match - - - -
Total revenues 1,063 20,976 68,715 99,260
Expenditures
Direct costs:
Salaries and wages 519 8,414 31,887 47,195
Fringe benefits 220 3,571 13,535 20,030
Telephone - - - -
Printing and copying - 146 673
Office supplies - - - -
Travel-in region 28 66 836 278
Travel-out region - - - 1,092
Training - -
Rent - - -
Computer services - 117 -
Computer software 249 - 500
Advertising - 242 -
Membership dues - - 548
Special projects 3,924 3,879 1,771
Consultant fee/contractual services - - -
Pass-through - - -
Indirect costs 296 4,752 18,073 27,173
Total expenditures 1,063 20,976 68,715 99,260
Revenues over expenditures $ - $ - $ $ -
32
Mid-Michigan
Water EDA EDA
Authority EDA Cares Planning Planning FHWA
2022 Grant Grant 2022 Grant 2025 PL Funds
(30700) (31600) (31400) (31500) (32100)
$ $ 74,255 $ 79,101 $ 4,794 $ 658,091
1,810 - - -
- - 79,101 4,794 145,930
1,810 74,255 158,202 9,588 804,021
910 21,768 18,743 5,540 395,103
386 9,239 8,129 2,177 163,285
- - - - 174
30 1,331
- - 2,200 - 34
9 15 136 6 1,965
- - - - 2,116
214 -
- - 1,300
- 1,420
- 10,976
- 1,529
- 689
31,245 116,250
505 11,988 12,500 1,865 224,099
1,810 74,255 158,202 9,588 804,021
continued...
33
TRI-COUNTY REGIONAL PLANNING COMMISSION
Combining Schedule of Project Revenues and Expenditures(Unaudited)
For the Year Ended September 30, 2022
MDOT Grant: Surface Surface
Asset Regional Transportation Transportation
Management Transportation Program Program
2021 Contract Grant 2020 Grant 2021
(32300) (32400) (32800) (32900)
Revenues
Federal sources $ - $ - $ 47,965 $ 34,560
State sources 25,597 40,100 - -
Local sources - - - -
Local match - - 10,636 8,640
Total revenues 25,597 40,100 58,601 43,200
Expenditures
Direct costs:
Salaries and wages 11,273 20,305 27,146 -
Fringe benefits 4,785 8,618 11,089 -
Telephone - - 6 -
Printing and copying - 25 -
Office supplies - - 2 -
Travel-in region 312 - 1,030 -
Travel-out region 675 - -
Training -
Rent -
Computer services - 179
Computer software - 2,442
Advertising - 348
Membership dues - -
Special projects - - -
Consultant fee/contractual services - - 43,200
Pass-through 1,965 - - -
Indirect costs 6,587 11,177 16,334 -
Total expenditures 25,597 40,100 58,601 43,200
Revenues over expenditures $ - $ - $ - $ -
34
MDOT Grant:
Surface Michigan Asset
Transportation Avenue Management- Statewide
Program Corridor Clinton Planning and
Grant2022 Study County Research
(33100) (33200) (33500) (34000) Total
$ 18,543 $ 213,614 $ - $ 16,149 $ 1,147,072
- - 34,000 4,031 103,728
- - - - 191,824
4,636 18,150 - 271,887
23,179 231,764 34,000 20,180 1,714,511
- - - 10,219 599,022
4,337 249,401
- 180
2,205
- 2,236
97 4,778
- 3,883
- 214
- 1,300
- 1,716
- 14,167
- 2,119
- 1,237
- - - 9,574
23,179 231,630 - - 445,504
- - 34,000 - 35,965
- 37 - 5,624 341,010
23,179 231,764 34,000 20,180 1,714,511
concluded.
35
TRI-COUNTY REGIONAL PLANNING COMMISSION
Schedule of Project Revenues and Expenditures(Unaudited)
Dewitt Township Permit Assistance
Project period October 1, 2021 to September 30, 2022
Dewitt Township-Cash(30110)
Revenues
Local:
Accounts receivable $ 1,063
Expenditures
Direct:
Salaries $ 519
Fringe benefits 220
Travel-in region 28
Indirect costs 296
Total expenditures $ 1,063
36
TRI-COUNTY REGIONAL PLANNING COMMISSION
Schedule of Project Revenues and Expenditures(Unaudited)
Greater Lansing Regional Committee (GLRC) 2021
Project Period January 1, 2021 to December 31, 2021
Various Municipalities-Cash(30310)
January 1, October 1, January 1,
2021 2021 2021
through through through
September 30, December 31, December 31,
2021 2021 2021
Revenues
Local:
Cash received $ 100,600 $ 4,365 $ 104,965
Unearned revenue-prior year - 16,611 16,611
Unearned revenue-current year (16,611) - (16,611)
Total revenues $ 83,989 $ 20,976 $ 104,965
Expenditures
Direct:
Salaries $ 39,051 $ 8,414 $ 47,465
Fringe benefits 14,768 3,571 18,339
Travel-in region - 66 66
Computer software 190 249 439
Membership dues 569 - 569
Special projects 7,960 3,924 11,884
Indirect costs 21,451 4,752 26,203
Total expenditures $ 83,989 $ 20,976 $ 104,965
37
TRI-COUNTY REGIONAL PLANNING COMMISSION
Schedule of Project Revenues and Expenditures(Unaudited)
Greater Lansing Regional Committee (GLRC) 2022
Project Period January 1, 2022 to December 31, 2022
Various Municipalities-Cash(30300)
January 1,
2022
through
September 30,
2022
Revenues
Local:
Cash received $ 100,600
Unearned revenue-current year (31,885)
Total revenues $ 68,715
Expenditures
Direct:
Salaries $ 31,887
Fringe benefits 13,535
Printing and copying 146
Travel-in region 836
Computer services 117
Advertising 242
Special projects 3,879
Indirect costs 18,073
Total expenditures $ 68,715
38
TRI-COUNTY REGIONAL PLANNING COMMISSION
Schedule of Project Revenues and Expenditures(Unaudited)
Groundwater Management Board (GMB) 2022
Project Period October 1, 2021 to September 30, 2022
Various Municipalities-Cash(30400)
Revenues
Local:
Cash received $ 96,300
Unearned revenue-prior year 170,761
Unearned revenue-current year (167,801)
Total revenues $ 99,260
Expenditures
Direct:
Salaries $ 47,195
Fringe benefits 20,030
Printing and copying 673
Travel-in region 278
Travel-out region 1,092
Computer software 500
Membership dues 548
Special projects 1,771
Indirect costs 27,173
Total expenditures $ 99,260
39
TRI-COUNTY REGIONAL PLANNING COMMISSION
Schedule of Project Revenues and Expenditures(Unaudited)
Regional Prosperity Grant 2018
Project Period March 1, 2017 to September 30, 2023
March 1, October 1, March 1,
2017 2021 2017
through through through
September 30, September 30, September 30,
2021 2022 2022
Revenues
State of Michigan:
Cash received $ 180,897 $ - $ 180,897
Unearned revenue-current year (95,873) - (95,873)
Total revenues $ 85,024 $ - $ 85,024
Expenditures
Direct:
Pass-through $ 85,024 $ - $ 85,024
40
TRI-COUNTY REGIONAL PLANNING COMMISSION
Schedule of Project Revenues and Expenditures(Unaudited)
Regional Prosperity Grant 2019
Project Period March 1, 2019 to September 30, 2023
March 1, October 1, March 1,
2019 2021 2019
through through through
September 30, September 30, September 30,
2021 2022 2022
Revenues
State of Michigan:
Cash received $ 306,810 $ - $ 306,810
Unearned revenue-current year (119,999) - (119,999)
Total revenues $ 186,811 $ - $ 186,811
Expenditures
Direct:
Salaries $ 960 $ - $ 960
Fringe benefits 368 - 368
Travel-in region 22 - 22
Pass-through 184,932 - 184,932
Indirect costs 530 - 530
Total expenditures $ 186,812 $ - $ 186,812
41
TRI-COUNTY REGIONAL PLANNING COMMISSION
Schedule of Project Revenues and Expenditures(Unaudited)
Mid-Michigan Water Authority 2021
Project period January 1, 2021 through December 31, 2021
Various Municipalities-Cash(30800)
January 1, October 1, January 1,
2021 2021 2021
through through through
September 30, December 31, December 31,
2021 2021 2021
Revenues
Local:
Cash $ - $ 1,528 $ 1,528
Accounts receivable 1,528 (1,528) -
Total revenues $ 1,528 $ - $ 1,528
Expenditures
Direct:
Salaries $ 796 $ - $ 796
Fringe benefits 301 - 301
Travel-in region 7 - 7
Indirect costs 424 - 424
Total expenditures $ 1,528 $ - $ 1,528
42
TRI-COUNTY REGIONAL PLANNING COMMISSION
Schedule of Project Revenues and Expenditures(Unaudited)
Mid-Michigan Water Authority 2022
Project period January 1, 2022 through September 30, 2022
Various Municipalities-Cash(30700)
Revenues
Local:
Accounts receivable $ 1,810
Expenditures
Direct:
Salaries $ 910
Fringe benefits 386
Travel-in region 9
Indirect costs 505
Total expenditures $ 1,810
43
TRI-COUNTY REGIONAL PLANNING COMMISSION
Schedule of Project Revenues and Expenditures(Unaudited)
EDA Cares Grant
Project period July 1, 2020 through March 31, 2023
EDA Grant No.06-83-05565(31600)
EDA-$400,000 Cash July 1, October 1, July 1,
2020 2021 2020
through through through
September 30, September 30, September 30,
2021 2022 2022
Revenues
Federal grant:
Cash received $ 169,674 $ 79,641 $ 249,315
Unearned revenue-current year - (5,386) (5,386)
Total revenues $ 169,674 $ 74,255 $ 243,929
Expenditures
Direct:
Salaries $ 32,594 $ 21,768 $ 54,362
Fringe benefits 12,326 9,239 21,565
Travel-in region 165 15 180
Consultant fee/contractual services 87,070 31,245 118,315
Pass-through 19,905 - 19,905
Indirect costs 17,614 11,988 29,602
Total expenditures $ 169,674 $ 74,255 $ 243,929
44
TRI-COUNTY REGIONAL PLANNING COMMISSION
Schedule of Project Revenues and Expenditures(Unaudited)
EDA Planning Grant 2022
Project period July 1, 2019 through June 30, 2022
EDA Grant No. ED19CH13020026(31400)
EDA-$210,000 Cash July 1, October 1, July 1,
TCRPC-$210,000 Cash 2019 2021 2019
through through through
September 30, June 30, June 30,
2021 2022 2022
Revenues
Federal grant:
Cash received $ 107,695 $ 79,101 $ 186,796
Local match 107,695 79,101 186,796
Total revenues $ 215,390 $ 158,202 $ 373,592
Expenditures
Direct:
Salaries $ 107,619 $ 18,743 $ 126,362
Fringe benefits 39,501 8,129 47,630
Telephone 140 - 140
Printing and copying 175 30 205
Office supplies 218 2,200 2,418
Travel-in region 1,155 136 1,291
Travel-out region 3,710 - 3,710
Training 425 214 639
Computer software 95 - 95
Membership dues 305 - 305
Consultant fee/contractual services - 116,250 116,250
Indirect costs 62,047 12,500 74,547
Total expenditures $ 215,390 $ 158,202 $ 373,592
45
TRI-COUNTY REGIONAL PLANNING COMMISSION
Schedule of Project Revenues and Expenditures(Unaudited)
EDA Planning Grant 2025
Project period July 1, 2022 through June 30, 2025
EDA Grant No. ED22CH13020036(31500)
EDA-$210,000 Cash July 1,
TCRPC-$210,000 Cash 2022
through
September 30,
2022
Revenues
Federal grant:
Cash received $ 17,500
Unearned revenue-current year (12,706)
Local match 4,794
Total revenues $ 9,588
Expenditures
Direct:
Salaries $ 5,540
Fringe benefits 2,177
Travel-in region 6
Indirect costs 1,865
Total expenditures $ 9,588
46
TRI-COUNTY REGIONAL PLANNING COMMISSION
Schedule of Project Revenues and Expenditures(Unaudited)
FHWA PL Funds
Project period October 1, 2021 through September 30, 2022
FHWA Contract No. PL 2021-0011/Z4 (32100)
FHWA- $684,157 Cash
TCRPC-$151,710 Cash
Revenues
Federal grant:
Cash received $ 494,522
Accounts receivable 163,569
Local match 145,930
Total revenues $ 804,021
Expenditures
Direct:
Salaries $ 395,103
Fringe benefits 163,285
Telephone 174
Printing and copying 1,331
Office supplies 34
Travel-in region 1,965
Travel-out region 2,116
Rent 1,300
Computer services 1,420
Computer software 10,976
Advertising 1,529
Membership dues 689
Indirect costs 224,099
Total expenditures $ 804,021
47
TRI-COUNTY REGIONAL PLANNING COMMISSION
Schedule of Project Revenues and Expenditures(Unaudited)
MDOT Grant:Asset Management 2021
Project period October 1, 2020 through September 30, 2022
MDOT CONTRACT NO.2018-0022/Z9/R1(32300)
MDOT-$40,000 Cash October 1, October 1, October 1,
2020 2021 2020
through through through
September 30, September 30, September 30,
2021 2022 2022
Revenues
State of Michigan:
Cash received $ 8,337 $ 8,684 $ 17,021
Accounts receivable - 16,913 16,913
Total revenues $ 8,337 $ 25,597 $ 33,934
Expenditures
Direct:
Salaries $ 4,220 $ 11,273 $ 15,493
Fringe benefits 1,557 4,785 6,342
Travel-in region 224 312 536
Travel-out region - 675 675
Pass-through - 1,965 1,965
Indirect costs 2,336 6,587 8,923
Total expenditures $ 8,337 $ 25,597 $ 33,934
48
TRI-COUNTY REGIONAL PLANNING COMMISSION
Schedule of Project Revenues and Expenditures(Unaudited)
Regional Transportation Contract
Project period October 1, 2021 through September 30, 2022
MDOT Contract No.2021-0022/Z4(32400)
MDOT-$40,100 Cash
Revenues
State of Michigan:
Cash received $ 32,518
Accounts receivable 7,582
Total revenues $ 40,100
Expenditures
Direct:
Salaries $ 20,305
Fringe benefits 8,618
Indirect costs 11,177
Total expenditures $ 40,100
49
TRI-COUNTY REGIONAL PLANNING COMMISSION
Schedule of Project Revenues and Expenditures(Unaudited)
Surface Transportation Program Grant 2020
Project period October 1, 2019 through September 30, 2022
FHWA CONTRACTS 2018-0011/Z5(32800)
FHWA-$102,313 Cash October 1, October 1, October 1,
TCRPC-$22,687 Cash 2019 2021 2019
through through through
September 30, September 30, September 30,
2021 2022 2022
Revenues
Federal grant:
Cash received $ 54,343 $ 37,838 $ 92,181
Accounts receivable - 10,127 10,127
Local match 12,051 10,636 22,687
Total revenues $ 66,394 $ 58,601 $ 124,995
Expenditures
Direct:
Salaries $ 31,468 $ 27,146 $ 58,614
Fringe benefits 11,633 11,089 22,722
Telephone - 6 6
Printing and copying 25 25
Office supplies - 2 2
Travel-in region 30 1,030 1,060
Computer services 1,580 179 1,759
Computer software 2,542 2,442 4,984
Advertising 155 348 503
Indirect costs 18,986 16,334 35,320
Total expenditures $ 66,394 $ 58,601 $ 124,995
50
TRI-COUNTY REGIONAL PLANNING COMMISSION
Schedule of Project Revenues and Expenditures(Unaudited)
Surface Transportation Program Grant 2021
Project period January 25, 2021 through September 30, 2022
FHWA CONTRACTS 2021-0011/Z2(32900)
FHWA-$113,419 Cash January 25, October 1, January 25,
TCRPC-$28,355 Cash 2021 2021 2021
through through through
September 30, September 30, September 30,
2021 2022 2022
Revenues
Federal grant:
Cash received $ 5,634 $ 12,240 $ 17,874
Accounts receivable - 22,320 22,320
Local match 1,408 8,640 10,048
Total revenues $ 7,042 $ 43,200 $ 50,242
Expenditures
Direct:
Salaries $ 3,364 $ - $ 3,364
Fringe benefits 1,253 1,253
Computer software 386 386
Advertising 99 - 99
Consultant fee/contractual services - 43,200 43,200
Indirect costs 1,940 - 1,940
Total expenditures $ 7,042 $ 43,200 $ 50,242
51
TRI-COUNTY REGIONAL PLANNING COMMISSION
Schedule of Project Revenues and Expenditures(Unaudited)
Surface Transportation Program Grant 2022
Project period October 1, 2021 through September 30, 2022
FHWA CONTRACTS 2021-0011/Z4 (33100)
FHWA-$100,000 Cash
TCRPC-$25,000 Cash
Revenues
Federal grant:
Cash received $ 12,149
Accounts receivable 6,394
Local match 4,636
Total revenues $ 23,179
Expenditures
Direct:
Consultant fee/contractual services $ 23,179
52
TRI-COUNTY REGIONAL PLANNING COMMISSION
Schedule of Project Revenues and Expenditures(Unaudited)
Michigan Avenue Corridor Study
Project period October 1, 2021 through September 30, 2023
FHWA CONTRACTS 2021-0011/Z3/R1(33200)
FHWA-$281,850 Cash October 1,
TCRPC-$18,150 Cash 2021
through
September 30,
2022
Revenues
Federal grant:
Cash received $ 96,392
Accounts receivable 117,222
Local match 18,150
Total revenues $ 231,764
Expenditures
Direct:
Travel-in region $ 97
Consultant fee/contractual services 231,630
Indirect costs 37
Total expenditures $ 231,764
53
TRI-COUNTY REGIONAL PLANNING COMMISSION
Schedule of Project Revenues and Expenditures(Unaudited)
MDOT Grant:Asset Management-Clinton County
Project period October 1, 2021 through September 30, 2022
MDOT CONTRACT NO.2021-0022/Z5(33500)
MDOT-$34,000 Cash
Revenues
State of Michigan:
Cash received $ 34,000
Expenditures
Direct:
Pass-through $ 34,000
54
TRI-COUNTY REGIONAL PLANNING COMMISSION
Schedule of Project Revenues and Expenditures(Unaudited)
Statewide Planning and Research
Project period October 1, 2021 through September 30, 2022
MDOT Contract No.2021-0022/Z7(34000)
MDOT-$4,493 Cash
Federal-$17,971 Cash
Revenues
Federal grant:
Cash received $ 12,814
Accounts receivable 3,335
State of Michigan:
Cash received 3,197
Accounts receivable 834
Total revenues $ 20,180
Expenditures
Direct:
Salaries $ 10,219
Fringe benefits 4,337
Indirect costs 5,624
Total expenditures $ 20,180
55
TRI-COUNTY REGIONAL PLANNING COMMISSION
Analysis of Local Match (Unaudited)
For the Year Ended September 30, 2022
Commission's
Local Match
EDA Planning(31500) $ 83,895
FHWA PL Funds(32100) 145,930
STP(32800) 23,912
Michigan Ave Corridor Study(33200) 18,150
$ 271,887
56
TRI-COUNTY REGIONAL PLANNING COMMISSION
Analysis of Indirect Cost Rate (Unaudited)
For the Year Ended September 30, 2022
Indirect Indirect
Base Costs
Total expenditures $ - $ 2,122,864
Direct expenditures 1,749,714 (1,749,714)
Less:
Special projects (9,574) -
Consultant fee/contractual services (446,004) -
Pension contributions-forfeitures (7,447) -
Depreciation (704)
Pass-through (35,965) -
Transfer for match (271,887) -
978,133 373,150
Indirect cost rate(indirect costs as part of indirect base) 38.15%
57
TRI-COUNTY REGIONAL PLANNING COMMISSION
Schedule of Fringe Benefits(Unaudited)
For the Year Ended September 30, 2022
Social security and Medicare(FICA)contributions $ 60,836
Unemployment taxes 4,809
Pension contributions 63,880
Pension contributions-forfeitures 7,447
Health insurance 177,974
Dental insurance 15,116
Group life insurance 7,516
Employee assistance program 342
Workers compensation insurance 2,298
Fringe benefit miscellaneous 1,235
Total fringe benefits $ 341,453
Salaries and wages $ 806,159
Fringe benefit rate-all employees 42.36%
58