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Riverwoods finance director reports $1 million general-fund surplus at midyear
Summary
Village Finance Director Vasquez told the Board of Trustees the unaudited second-quarter 2025 financials show a roughly $1,000,000 general-fund surplus driven by strong sales-tax performance, security deposits and a matured bond; water and capital funds face timing and capital planning issues.
The Village of Riverwoods' finance director reported an unaudited general-fund surplus of about $1,000,000 at the close of the second quarter, citing stronger-than-expected sales-tax receipts and one-time items. Director Vasquez presented the second-quarter financial report during the Board of Trustees meeting.
Vasquez said the village is "overall trending ahead of our budgeted target for the year, with over 61% of budgeted revenue received at the halfway point," noting that property-tax receipts and stronger sales-tax collections helped push general-fund revenue to roughly 63% of annual budget at midyear. "In fact, both home rule and municipal sales taxes are currently exceeding 70% of budget at this point in the year," Vasquez said.
The report attributed most of the surplus to three…
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