Budgeting/Forecasting

Liberty Township completes a 7 year comprehensive budget, which was instituted over ten years ago to assist the Board in planning for the future of the township. The comprehensive budget is updated each year by the Finance Director in coordination with the Department Managers in addition to the required yearly budget that is approved. The comprehensive budget includes planning for the future staffing, operations, and capital outlay (equipment and projects).  In addition, our Finance Committee members comprised of township residents with financial expertise, review the information prior to it being submitted to the Board for review.  Annually the Board reviews the comprehensive and annual budget during an open meeting Work Session to evaluate and discuss the information presented. The Work Session is open to the public. These projections are based on factors today and anticipated needs for the future. The 7 year comprehensive budget has been an instrumental tool in providing the Board with the foresight to plan for the financial future of the township. The practice of conservative spending, providing for carryover, and instituting a 7 year comprehensive budget has allowed the township to accomplish the following:

• Bond rating was improved from an Aa3 to an Aa1. This rating allows the township to receive lower interest rates when borrowing for capital improvements, which in turn results in a savings for the township.
• Received perfect (clean) audits since 2006 – 10 years!
• Achieved the Ohio Auditor of State Award for exemplary financial reporting in 2015.