Lake Barrington finance report shows swing to net income; trustees approve warrants and payables

Village finance staff told the Lake Barrington trustees on Oct. 7 that the village recorded a net income of about $276,000 for the referenced period, compared with a loss of about $215,000 at the same point last year.

The finance presentation noted that depreciation was a noncash expense of roughly $103,000 and investment income for the year was about $98,000. The presenter said recent increases in sales tax receipts were a major factor in the improved financial position and that some of the apparent gains came from new filers.

Staff also reported an expected final project invoice of about $106,000 that would arrive soon, and a water/sewer fund payment for smoke testing and root-control work: a previously approved quote of $2,000 had been replaced by an $18,073 invoice for the smoke-testing work.

During the meeting the chair called for a motion to approve the financial statements and pay bills. A motion to approve payables and warrants (listed in the meeting materials as pay bills in the amounts of $171,870.25 and $194,454.60 dated 10/07/2025) was moved by Trustee Shallow and seconded by Trustee Perkins. The administrator called the roll; the transcript records Trustee Grader and Trustee Perkins voting "Yes." The transcript excerpt does not include a complete roll-call transcript for all members.

The finance report included discussion of accounting-standard changes coming from government accounting boards and the presenter asked trustees to note those forthcoming modifications. No additional budget amendments or ordinance-level budget decisions were recorded in the supplied transcript excerpt.