8 Month Finance Comparisons

As in the past years income tax and property tax revenues which comprise almost 80% of general revenues have continued to show a healthy growth and provide the much needed revenue stream to support and subsidize major governmental operations including the operations of the safety and service departments. At the end of August the operating fund balance was $3.8 million. Service Department expenses are lower by $275,000 in 2015 due to reduced capital spending. The total annual budget for the Village is nearly $9.8 million 40% of which represents the operating budgets for the Police and Service departments along with Fire, EMS, and Dispatch outlays. Also included in this amount is the annual infrastructure improvement and maintenance program to optimize the performance of the existing capital assets and to extend their useful life. Due to prudent planning and fiscal policies the Village is well equipped to continue providing the high level of services the residents deserve and expect. The Village continues to participate in various regional initiatives to leverage the benefits of providing quality and cost effective services by partnering with other communities with similar demographics and needs.