Kalamazoo County - Committee of the Whole - December 16, 2025 Committee of the Whole Meeting

Updated about 1 hour ago

During this government meeting, the discussion revolves around a proposed millage to fund childcare services in Kalamazoo County. The proposal aims to address the significant need for affordable childcare by dedicating funding for services and programs for residents with children aged zero to five. Key points include the financial strain on families and childcare providers, the potential impact of the millage, and the necessity of a targeted approach to support infants and toddlers. Concerns are raised by commissioners regarding the timing and implementation of the millage, the need for a clear plan, and the potential tax burden on citizens. The meeting underscores the complexities of the issue and the importance of strategic planning to ensure successful implementation.

Chapters

Federal Reserve Report (00:00:04)
Federal Reserve Chair Powell reports job gains have slowed and unemployment increased. Discussions on potential rate cuts and their effects on market value and returns.

Federal Reserve Chair Powell noted that job gains have slowed, and the unemployment rate increased from June to September. There is a declining supply and demand for work. They are working to offset the downside risk in the labor market. Some are pricing in rate cuts, maybe two by June. The market is pricing in at least one. A rate cut increases the market value of some bonds, treasury notes, and other assets locked in while rates were high, but decreases the returns on more liquid assets. They will continue to monitor market changes, keep the board apprised, and work with investment partners to maximize returns while insulating from risk and ensuring liquidity needed to serve the community.
Investment Discussion (00:01:19)
Discussion on investment strategies, market value versus par value, and the effects of interest rates on pooled funds.

Vice Chair Bob discusses the par value and market value, noting that it doesn't mean much because they are not selling anything. It's an inversion of interest rates and what they've locked in. Pool funds tend to drop in percentage based on anticipation of rate cuts, not actual cuts. There's a medium-term strategy to lock in higher rates while they have them, despite some economists predicting at least one rate cut next year. The investment reports show a one percent top line number that isn't entirely accurate due to the investment software's limitations in accounting for rate changes.
Early Childhood Development Village Presentation (00:05:00)
Presentation by Dr. Lana Perkinson and Susan Rosas on a proposal for a countywide childcare village to address underfunding and accessibility issues in childcare.

Dr. Lana Perkinson and Susan Rosas present a proposal for a countywide childcare village. They discuss the underfunded childcare system, high costs for families, and low wages for teachers. Families spend more than they can afford on childcare, and yet it is not enough to cover costs. Michigan is missing out on tax revenue due to childcare-related workforce issues. They propose targeted investments for infants and toddlers, improving teacher wages, and increasing access to information. The proposed ballot language aims to fund services for children ages 0 to 5 and their caregivers.
Commissioner Comments and Discussion (00:16:08)
Commissioners discuss concerns about the proposed childcare millage, including timing, existing funds, and potential impact on taxpayers.

Commissioners express concerns about the proposed childcare millage. There are questions about the timing of the ballot proposal, the need for more information, and potential taxpayer burden. Some commissioners note existing state funds that have not been utilized and emphasize the need for a clear plan before asking voters for more money. Others acknowledge the need for improved childcare but caution against rushing the proposal without sufficient details and public support.