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Treasurer: July shows net income and online sales-tax windfall; village to monitor budgeting
Summary
Treasurer Hirsch reported July assets of $3.65 million, three-month revenues of $1.344 million and net income of $281,000; she said a change in online sales-tax law has added roughly $155,000 in recent months while use-tax receipts fell about $37,000, prompting a cautious budgeting approach.
Treasurer Hirsch presented the village's July financial report at the Lake Barrington Board of Trustees meeting Tuesday, saying the village's assets stood at $3,650,000, current liabilities at $404,000 and equity at $3,246,000. For the three months she reported revenues of $1,344,000, expenses of $1,063,000 and net income of $281,000.
Hirsch told trustees the village has seen a notable shift from…
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