Dolton schedules emergency finance meeting as insurance costs rise and general fund shows deficit

Dolton officials called an emergency finance meeting for Feb. 4 to hear a Blue Cross Blue Shield presentation as open enrollment approaches and the village faces increased health-insurance costs.

A finance representative told trustees the emergency session is necessary so the board can consider changes to employee health coverage tied to a rate increase. The mayor credited Administrator Walls and staff for negotiating to reduce the insurer's initial 31% rate increase and said the administration pursued competitive market options.

The finance report recited year-over-year revenue movements: income-tax receipts were reported up by about $111,000, home-rule sales-tax receipts rose by about $130,000, and sales-tax receipts decreased by about $84,000. The presenter said overall general-fund revenue was lower than the prior year due largely to a delayed property-tax second installment; the report listed the general-fund deficit at $4,807,440.01.

Trustees were told the village applied for a tax-anticipation bridge loan in the prior months to manage cash flow while property taxes were delayed. The finance presenter said staff continue negotiating with vendors to reduce liabilities and that checks are being issued normally once bills are approved.

The emergency finance meeting will include the insurer's presentation and is intended to allow the board to consider health-plan options before open enrollment begins March 1.