Budget - 2014

2014 Mid-Year Budget Report
The 2014 Mid-Year Budget Report (PDF) was presented to the Village Board on July 14, 2014.

2014 Budget Document
The 2014 Budget document (PDF) is available for download.

2014 Budget Reflects Comprehensive Plan for Delivery of Cost-Effective Municipal Services
The 2014 budget allows for the implementation of as many of the Village Board's goals and objectives as financially possible, as well as reflecting previous strategic planning initiatives and financial policies of the Village Board. Both the General Fund and the Water Sewer Operating Fund reserves are closely at or exceed the Village's financial policy. The 2014 budget avoids the use of capital project improvement revenues to balance operating funds, and provides adequate funding for the maintenance of municipal equipment, municipal facilities, and street, stormwater and water infrastructure.

Adoption of the budget comes after the Village Board participated in a series of proposed budget workshops with staff, strategic planning exercises with a consultant, and town hall meetings with residents and business owners. All of these events helped shape what was eventually adopted with the budget. During the Village Board budget review sessions, several initiatives were added to the 2014 Budget. These programs and services include a TIF eligibility report for the Roselle Rd./Nerge Rd. corridor, a Comprehensive Plan update, GIS consulting services, additional staffing for finance and code enforcement activities, the 50/50 tree planting program, and a more comprehensive economic development program.

Over the last five years, the Village's budget situation has improved - expenditures are now more in line with existing revenue sources. Since 2008, General Fund revenue growth has increased on average 1.5 percent annually, while General Fund expenditures have increased on average .5 percent annually. However, continued sluggishness in the growth of many key revenue sources, along with a full-time workforce that has been reduced by 20 percent, will begin to impede the ability of the organization to provide these same municipal service levels in the future. The 2014 budget increases initiatives identified in the strategic planning process to help grow the revenue base.

Revenues, Expenditures & Tax Levy
View a PDF Document containing pie charts highlighting a breakdown of 2014 revenues and expenditures, the distribution of property tax levy by each taxing body, and the Village's property tax levy.