Treasurer: July shows net income and online sales-tax windfall; village to monitor budgeting

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 use tax to online sales tax since Jan. 1, 2025: "Since 01/01/2025 on the new sales tax law took effect, we have taken in almost a $155,000 addition" over three months, while use tax for the same period is down about $37,000. She said the village's annual use-tax budget is $99,000 and that current receipts have already exceeded that amount, creating planning questions for the budget year.

On capital and operating items, Hirsch identified a scheduled October principal-and-interest payment for the open-space bond of $263,936.25 and called out routine vendor warrants including Pasellas Painting ($21,155) and Dorner ($31,502.65) for water/sewer work. The board asked clarifying questions and emphasized a conservative approach: trustees said they would not "count any money before we actually have it" and urged continued monitoring of the shifting revenue mix.

President Burke asked for a motion to approve the accounts-payable warrants. Trustee Hayes moved to pay the bills as listed (accounts-payable warrant dated 09/02/2025 in the amount of $180,044.94); a second was recorded in the transcript and the board proceeded to the next item. The transcript does not show a full roll-call tally for that motion.