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Trustees discuss forecasting and equipment‑replacement funding as budget chart shows dip before 2028
Summary
Trustees and staff discussed options to address a projected dip in the village’s debt/levy chart before 2028, including whether to repurpose levy dollars formerly used for debt service into the equipment‑replacement fund and the tradeoffs of doing so.
At the April 21 meeting trustees discussed general budget strategy and the village’s equipment‑replacement reserve after Director Deminy presented the first‑quarter financial report. Trustee Rhodes led a targeted five‑minute discussion about a projected dip on the village’s debt/levy chart that appears before 2028.
Rhodes asked whether the funds previously used for principal and interest payments could be moved into the equipment‑replacement reserve to eliminate the red portion of the projection. Staff cautioned that repurposing those levy dollars would reduce the equipment fund and likely require future borrowing or a referendum to pay for large capital purchases such as snowplows or fire trucks.
Director Deminy and trustees discussed improved forecasting approaches for next year’s budget packet so the board would see timing adjustments rather than a simple pro‑rata 25% comparison. Trustees encouraged staff to include forecasting and to provide clearer visualizations in the packet. No action was taken; the discussion was informational and intended to guide budget work for the coming fiscal year.
