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Lake Barrington finance report shows swing to net income; trustees approve warrants and payables
Summary
Finance staff reported net income of about $276,000 for the period, reversing a loss of $215,000 at the same point last year, with investment income and sales-tax gains noted; trustees moved to approve accounts payable warrants and pay bills during the Oct. 7 meeting.
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…
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