Budgets and Financial Reports

The City of Kalamazoo prepares a variety of financial reports to share how public funds are being managed and used. The City Budget shows how public funds are allocated overall, but a number of financial reports are published for specific funds or component units. You can find these reports below. 

10 Result(s) Found

The annual budget describes the City of Kalamazoo’s goals and how resources are allocated to achieve them. The budget also serves as the annual financial plan, an operations guide, and a communications tool.

The City of Kalamazoo uses a calendar fiscal year. City Charter requires that the budget be presented to City Commission by December 1 each year. It must be approved by January 31. 

The City of Kalamazoo participates in the State of Michigan's City, Village, and Township Revenue Sharing (CVTRS) Program. The program the following documents to be made available for review by the community.

You can find the City of Kalamazoo on the State of Michigan's Community Financial Dashboard here.

State law requires that every local government publish a complete set of audited financial statements. This report is a thorough and detailed account of the City's financial condition and provides transparency and accountability to our community.

Cost Allocation Plans identify the costs of indirect services provided by central service departments of the City based on expenditures for the fiscal year. Cost Allocation Plans are used to claim indirect costs as charges against awards (grants) and City funds.  

The Downtown Economic Growth Authority (DEGA) was established by the Kalamazoo City Commission in 2018 under the Corridor Improvement Authority (CIA) Act. Under the Act the DEGA has the authority to create a development plan, mapping out specific investments and improvements to be made within its boundaries, and to create a tax increment financing (TIF) plan identifying funding mechanisms. It is a component unit of the City of Kalamazoo. 

The Other Post-Employment Benefits (OPEB) Trust Fund is a cost sharing multiple-employer defined benefit other post-employment benefit plan. The Plan provides medical insurance benefits to eligible retirees and their spouses. The audited financial statements provide an overview of activities. 

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