When and how does Canton borrow money?
General obligation bonds may be issued with a vote of the people. Without a vote, Canton can issue Limited Tax General Obligation bonds and Revenue Bonds to finance construction projects. All bonds must be issued in compliance with state law. As a municipal corporation, Canton can also enter into lease contracts for the acquisition of equipment.

Show All Answers

1. Does Canton have a budget?
2. What are the major funds?
3. Can funds be transferred between funds for operating purposes?
4. How is the Finance Department different from the Treasurer?
5. Describe the budget approval process.
6. What is an Annual Finance Report?
7. Do all communities create a Comprehensive Annual Financial Report...how many do?
8. How many years has Canton prepared a Comprehensive Annual Financial Report?
9. When and how does Canton borrow money?
10. What is Canton's allocation of local property taxes?
11. What are enterprise activities?
12. How is the sewer and water funds administered?
13. How is State of Michigan revenue sharing calculated?
14. What is the difference between Constitutional vs. statutory revenue sharing?
15. What is the allocation of property tax collections by fund?
16. What systems are used for the various Township functions?