Riverwoods board adopts 2025 appropriations ordinance; approves demolition, energy and maintenance actions

The Board of Trustees of the Village of Riverwoods adopted the Appropriations Ordinance for the fiscal year ending Dec. 31, 2025, during its March meeting and approved several related and separate administrative actions including a demolition change order, termination of the village's Nordic Energy aggregation agreement and an extension of a mechanical maintenance contract.

Finance Director Vasquez told the board the Appropriations Ordinance sets an upper bound for expenditures and is deliberately higher than the budget to leave room for contingencies and as-yet undecided capital projects. "Unlike the budget, which we prepare for planning and managing expenditures, the Appropriations Ordinance sets an upper bound for expenditures," Vasquez said. He also said appropriated amounts typically run about 10% above the budgeted line items and that the village is not required to spend the full appropriation.

The ordinance passed on a roll call vote with trustees recorded as voting in favor. Vasquez highlighted several fund-level forecasts included in the packet: the general fund shows about a $160,000 deficit for 2025 after removing a $300,000 contingency line; the Motor Fuel Tax (MFT) fund shows a deficit driven by the upcoming Saunders Road project; the water fund shows a reduced capital program and a roughly $170,000 deficit; and the sewer fund shows an approximate $335,000 deficit driven by capital needs. Vasquez said 2024 included one-time activity that affected margins: about $1 million received from Lake County for stormwater storage at the Federal Life…