Finance & Taxation
Sound municipal finance is key to maintaining a vibrant and healthy community, and the City of Dexter is committed to the responsible stewardship of taxpayer funds. To this end, there are several activities that the City undertakes each year to ensure that our City is financially healthy.
Each January through May, City Council and staff participate in a series of goal setting and budgeting workshops to set the financial priorities for the City in the upcoming fiscal year, with a public hearing held in June. The culmination of this process is the annual budget, which can be found on the Budget and Audits page. The budget document contains a wealth of information, including how the City generates revenue, where funds are spent, and policy directives for spending, borrowing, staffing, and capital improvements.
The annual audit is the report card for city finances. Performed by an independent auditor contracted by the City for this purpose, it contains information about how well the City adhered to its budget, whether or not the City made all required debt payments, and the health of the City's pension and other post-retirement benefits. The audits may be found on the Budget and Audits page.
While the City routinely sets aside funds designated for future capital projects, it is occasionally necessary to issue public bonds to finance larger capital improvements. A listing of capital projects that have been funded by debt is available in the City's budget document, and information on the City's bond rating is included on the Debt and Investments page.
Investment of City Funds
City funds are invested with a priority for safety and liquidity. The City's policy and other investment information is included on the Debt and Investments page.
Property Assessment and Taxation
The process for taxation of property within the City starts with the property's assessment and finished with the bi-annual tax bill. This process is highly regulated by Michigan's State Tax Commission and the Property Tax Act. More information for taxation is available on the Assessing and Property Tax pages.