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Riverwoods reports first‑quarter surplus in general fund; capital work for Saunders Road still pending
Summary
Trustee Clayton presented unaudited first‑quarter financials showing a general‑fund operating surplus of $217,824, a matured $250,000 CD, and capital expenditures tied to the Saunders Road project that have not yet occurred.
Trustee Clayton presented the village’s unaudited financial statements for the first quarter and summarized key variances and cash‑position items.
Clayton said revenues generally matched expectations but noted seasonal variation in police revenues and a gain this year from special use fees and the sale of a retired vehicle. The general fund is showing an operating net income (surplus) of $217,824 at the end of the first quarter, Clayton said.
Other highlights: - A $250,000 certificate of deposit matured from Advia (formerly Northside Bank); staff is coordinating reinvestment with the village treasurer. - Motor Fuel Tax (MFT) revenues are about 25.8% of annual budget through Q1; no MFT expenditures yet because funds are reserved for the Saunders Road project. - Waterfront revenues are under 16% of annual budget; winter usage depressed receipts and warmer months should push usage toward budget levels. - Sewer fund revenues are on track at about 25% of budget; many water and sewer expenses are capital projects scheduled later in the year. - Capital fund revenues are lower year‑to‑date because anticipated transfers and grant revenue have not been recorded; most 2025 capital expenditures are tied to the Saunders Road project, which has not started.
Clayton and staff emphasized that many expense lines remain low at this point in the year because capital work is scheduled for later months. The board did not take budgetary action at the meeting other than acknowledging the report.
