Village staff have begun drafting the Village's budget for the coming fiscal year, which runs from January 1, 2019 to December 31, 2019.
All meetings take place at Village Hall, 2500 East Lake Avenue, and are open to the public. Here's the preliminary 2019 budget review and adoption schedule:
- 7 p.m. Monday, August 27, 2018 – Capital Improvements Program review
- 7 p.m. Monday, September 24, 2018 – Village financial overview
- 7 p.m. Monday, October 22, 2018 – Operating budget review
- 7:30 p.m. Tuesday, November 20, 2018 – 2018 tax levy public hearing, Special Service Areas and abatement ordinances
- 7:30 p.m. Tuesday, December 4, 2019 – 2019 budget public hearing, final 2018 tax levy consideration and abatement ordinances
The Village’s 2018 spending plan was adopted December 5, 2017, by the Village Board of Trustees following three public workshops, a capital improvement projects public open house and public hearings on the property tax levy and on the budget. The $129.7 million budget continues the fiscally responsible practice of supporting ongoing expenditures with ongoing revenues, and maintains high service levels, and includes an increased commitment to capital improvements.
To help keep repairs and improvements to roads, sewers and other infrastructure up to standards, the budget includes a nominal property tax increase to be dedicated to those purposes. The total $250,000 of additional property taxes generated will help address the funding gap between dedicated funding sources and the community’s infrastructure needs. That slight property tax increase – 2.25 percent from a year earlier – represents an increase of about $13.50 on the Village portion of the average property owner’s annual bill.