12/30/12 - Lyon Township is facing a projected deficit of almost $600,000 next year, which will take a bite out of its $3 million fund balance. The township budget approved last month for 2013 includes about $2.4 million in revenue and about $2.9 million in expenditures for a projected deficit of $586,000. The budget includes $66,000 for police services to shore up the revenue from the townshipâs two police millages. It also includes a 1.7% cost of living raise for all full-time personnel, who have not had a raise in five years. Township officials say they have been fiscally conservative, but decreasing property values have taken a toll on revenues. Officials are also expecting high levels of building permits to bring in fresh revenue in two to three yearsâ time. (TD)
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