Finance director: Villa Park general fund shows temporary shortfall; council receives plan to reconcile accounts

The Village of Villa Park’s finance director told trustees July 28 that the village’s general fund showed an unaudited shortfall at June 30 but staff have identified the missing revenue entries and are reconciling accounts.

Susie Mica, Villa Park finance director, said the village’s general-fund revenues through June were about $10.7 million and expenses about $11.7 million, creating “a deficit of just over a million dollars” on the unaudited report. Mica told the board that number would change once staff post several expected revenue items and transfers — including sales tax, state income tax, investment income and interfund operating transfers — that were not reflected in the June report. Mica estimated that once those items are recorded the general fund balance would move into a positive position.

Why it matters: Trustees and residents raised concern about the village’s cash position; Mayor Kevin Patrick and the manager said staff had discovered missed or late payments dating to 2024 and a pension distribution that had not been budgeted for.

Village Manager Mike Rivas told the board that when the current administration took office it found bills that were overdue, including payroll-related insurance and utility invoices. In his prepared remarks President Kevin Patrick said the village had been "behind on employee health insurance payments, liability insurance, [and] NICOR gas bills, some dating back to 2024," and that staff also uncovered an unbudgeted $2.6 million police-pension distribution. Patrick said the new manager and finance director have stabilized operations and produced the financial reports trustees previously had requested.

Mica gave a line-by-line overview of funds and told the trustees that many non-general funds that initially appeared underfunded reflect timing differences because property tax receipts and internal transfers have not yet been posted. She said the village’s cash-on-hand figure depends on completing several transfers that normally happen during the fiscal year; after those she estimated a cash balance that currently supports roughly 77 days of operating cash in a conservative scenario, and said the figure could improve with updated reconciliation and final revenue postings.

Trustees pressed staff on details and next steps. Trustee Mahum Kumar asked whether the conservative cash calculation accounts for expected revenue; Mica said the figures presented were intentionally conservative and that she will update June and July reconciliations before the board’s next meeting. Several trustees urged tighter budget controls and a careful 2026 budget process.

What the board directed: Trustees asked staff to provide updated reconciled financial statements at the August meeting and to outline whether any transfers or operating adjustments will be needed to cover the previously unrecorded pension distribution. Mica said staff are working with the village’s accountant and will present updated figures at the next regular meeting.

Mayor Patrick also urged the public to weigh staff progress: he said the village’s new manager and finance director had uncovered the gaps and “stabilized our workforce,” and characterized the current work as restoring financial transparency.

Ending: The village did not adopt a revised budget at the July 28 meeting; trustees asked staff to return with reconciled statements and proposed next steps at the board’s August meeting.

Reporting note: figures quoted are from an unaudited monthly report presented at the July 28 meeting. For certified numbers, see the village’s audited financial statements when completed by the independent auditor.