Budget - 2018
2018 Proposed Budget Document
The 2018 Proposed Budget Document (PDF) is available for download
Strategic Planning, Economic Development Efforts Result in Strong Budget for 2018
The proposed budget for fiscal year 2018 includes the funding necessary to provide the residents and business owners of this community continued cost effective and efficient administrative, public safety, and public works services. Village staff worked diligently in 2017 to propose a budget reflecting the priorities and action items identified in the Village Board’s 2016-2018 Strategic Plan. As a result of prudent budget planning and specific initiatives related to long-term fiscal sustainability and economic development, the Village’s budget outlook is much stronger than it has been in past years. This results in a proposed budget that includes several new initiatives designed to bolster municipal services while ensuring unreserved fund balances in the two largest operating funds can absorb unexpected challenges such as a further reduction in the Village’s share of State of Illinois income tax revenue.
The Village Board will discuss the proposed budget during a special Committee of the Whole meeting on November 6 at 7:00 p.m., and during regularly scheduled Committee of the Whole meetings on November 13 and November 27, immediately following the Village Board meetings on those nights. These meetings are held in the Council Chambers at Village Hall and are open to the public. The Board will officially adopt the final 2018 budget during a regular Village Board meeting in December.
Significant Budget Highlights:
- The General Operating Fund budget reflects revenues exceeding expenditures by $488,015. The projected unreserved fund balance will be $7,256,491 or 44.8% of expenditures, thereby exceeding the Village Board’s Strategic Plan Financial Sustainability Priority target of 35%.
- Funding to complete the Strategic Plan Priority for Infrastructure Improvements includes $1,170,000 for water main replacement, $1,282,500 for the annual street improvement and surface transportation programs, $850,000 for municipal building and facility repairs, and $9,041,155 for wastewater treatment plant and collection system projects outlined in the Wastewater Facility Master Plan.
- No new resident or business owner local tax, fee, license, or fine increases other than the previously approved water and sewer user fee increases outlined in the 5-Year Baxter & Woodman rate schedule plan.
- Several proposed revised programs and services, including reallocation of staffing to address initiatives in public safety and code enforcement, enhancing economic development and marketing efforts, and investment in new computer software programs to improve municipal services.
- A new Information Technology Fund to account for information technology expenses in the Village, including on-site network consulting services, maintenance agreements for the website, telephone system, and computer software, and various hardware such as computers, servers, and switches.