Lisle staff report shows sales-tax gains and increased transfers to stormwater, capital funds

The Village of Lisle’s finance staff presented the first-quarter fiscal report Sept. 15 showing year-to-date general fund revenues of $5,881,389 through July 31, equal to 25.5% of the budgeted $23.1 million and roughly $248,000 higher than the prior year. Chief Financial Officer Mitchell said sales tax receipts were approximately $198,000 higher than the same period last year and about $616,000 above the budgeted estimate. Mitchell attributed the sales-tax growth to new retailers and growth at existing businesses and noted a change in state law effective Jan. 1, 2025 that requires out-of-state retailers to remit sales tax based on the destination of sales rather than use tax, which increased local receipts. Income taxes were up about 9.9% (roughly $132,000) year over year and building permit revenue totaled $340,077 — about $240,000 more than the same period last year — reflecting larger commercial projects and additional residential construction. Mitchell reported other funds had year-to-date revenues of $4,927,837, about 20.5% of the budgeted $24 million and approximately $210,000 above last year. He noted planned transfers from the general fund to the stormwater fund totaled $518,446 this quarter versus $200,000 in the prior fiscal year, and the quarter’s transfer to the capital improvement fund was $260,000 to fund sidewalks, the Main Street streetscape and police facility improvements. Year-to-date general fund expenditures through July 31 were $5,356,093, or 19.7% of the FY26 budget. Expenditures were higher than last year primarily because of increased budgeted transfers to stormwater, capital improvements and police pension funds. Trustees asked whether rising material and construction costs were affecting bid results for planned projects. Director Elias said projects have seen cost increases but not materially beyond expectations; staff said conservative budgeting should limit the need for immediate amendments, although future budget amendments could be brought forward if awards exceed estimates. Mitchell closed by noting enterprise and capital project funds showed lower expenditures than the prior year due to timing differences in large capital payments. The report was informational and no board action was required.