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Village reports stronger-than-budget revenue in FY24-25 fourth quarter; sales tax outperforms expectations
Summary
Deputy Village Manager/CFO Mitchell presented unaudited fourth-quarter financial results showing general-fund revenues of $26.86 million (120.4% of budget), led by sales-tax growth and interest income gains. Expenditures remained below budget year to date; staff said increased capital spending timing explains other-fund expenditure growth.
Deputy Village Manager and CFO Mitchell presented the Village of Lisle’s unaudited fiscal-year 2024–25 fourth-quarter financial report to the board on July 21.
Mitchell said year-to-date general-fund revenues totaled $26,861,059, or 120.4 percent of the adopted $22,313,966 budget and roughly $3.2 million (about 13.6 percent) higher than the prior fiscal year. Sales taxes were about $2.9 million higher than the same period last year and approximately $3.4 million above budget expectation, with growth concentrated in…
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