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Note 6 - Interfund Receivables Payables and Transfers The Debt Service Fund owed the Operating Fund 2 530 at June 30 2007. In July or August the TIFA administrator meets with the city treasurer to determine the final and actual TIFA tax capture revenue as presented by the Michigan Treasury Department. The TIFA budget is amended as needed and presented to the TIFA board for approval contingent upon the City Council s concurrence. The budget is then presented to the City Council for adoption...
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