In a recent government meeting, officials discussed the village's financial strategies and upcoming changes to insurance premiums, water rates, and stormwater management fees. The village has been self-insured for property casualty and workers' compensation claims since 2000. Initially, a 6% increase in insurance premiums was anticipated for the next fiscal year, but after discussions with the insurance provider, the increase is now projected to be around 8%. This adjustment comes after a series of hurricanes, which will impact rates in the following year rather than the current one.

Officials highlighted the village's ability to maintain a balanced budget despite rising external costs, emphasizing the importance of keeping property tax rates flat. The discussion underscored the challenges of managing increasing expenses while meeting public expectations for stable taxes. The village's financial management has been praised, with officials noting that maintaining a balanced budget without a levy increase is a significant achievement.

Additionally, the village plans to implement a 6.5% increase in water rates, translating to an average increase of $6 per bill for residents, which is expected to help cover rising capital costs. Comparatively, even with this increase, the village's water rates remain among the lowest in the region.

The stormwater fund, established in 2016, is also set for a fee increase to support ongoing management projects. A proposed increase of 25 cents per month is aimed at funding future stormwater initiatives, with the last major project from the original plan expected to conclude next year.

The meeting concluded with a celebration of the village's financial health, including a AA bond rating and plans to eliminate tax-related debt by 2030. Officials are exploring new revenue sources, including potential restructuring of business license fees to enhance equity and clarity for local businesses.