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Lincoln Heights council reviews routine property-tax drawdown resolution
Summary
Manager Gaines Brown presented the annual resolution asking the county auditor to draw down property-tax proceeds to provide the village with needed cash flow for general welfare and emergency expenses; Brown said the practice is standard this time of year.
Manager Gaines Brown presented a routine resolution asking the county auditor to draw down property-tax monies to the village’s accounts to help with cash flow for general-welfare and emergency expenditures.
Brown said this is standard practice at this time of year and that Mr. Desai provided the supporting information for the presentation. He described the drawdown as a mechanism to ensure the village has needed funds available for expenditures as tax receipts are processed.
Council did not debate the substance of the drawdown resolution and no vote was recorded on the floor during the meeting summary.
