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Treasure's report: delayed property-tax receipts and budget amendments on tonight's agenda
Summary
Treasurer reported $5.9 million in delayed property-tax receipts (about 51.9% of budget), possible short-term loan to the police pension of $906,000, general-fund deficit of about $910,000 before drawdowns, and several budget amendments (including MFT overages) on the village-board agenda.
At the meeting, the treasurer presented the November financials and warned trustees that property-tax receipts were delayed, leaving the village about $5,900,000 behind prior-year collections and at 51.9% of the anticipated budget. "No property taxes were received in November," the treasurer said, and staff expect receipts to begin the following week; if tax receipts do not arrive, staff described a 60-day accrual option to attribute receipts to calendar-year 2025.
Staff said the delay could require a short-term…
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