Burr Ridge accepts clean audit, adopts estimated $1.34 million property tax levy

The Burr Ridge Village Board on Oct. 13 received an unmodified (clean) annual audit and adopted an estimated property tax levy of $1,344,080 for the 2025 tax year.

McCabe Thorpe, audit manager with Lauterbach and Amen, told trustees the village had again earned an unmodified opinion for the fiscal year ending April 30, 2025, and that the village’s fund balances remain well within policy. "Not many villages, I would say, have this clean of an audit go," Thorpe said, praising staff work on the financial report.

Actuary Anthony Gavillas presented the police pension funding figures the board used to set the levy estimate. He said Lauterbach and Amen’s recommended contribution for the pension fund is $1,344,080, the plan’s funded ratio is about 67%, plan assets are roughly $25.1 million and the plan’s investment return for the year was about 10.76%. "That recommended contribution for this year is $1,344,080," Gavillas said.

Trustees moved to estimate the levy now to satisfy truth‑in‑taxation timing rules; staff explained the estimate is required at least 20 days before adopting the final ordinance. Trustee discussion noted that the proposed levy is slightly lower than the prior year’s extended levy and that the village is well within the 5% threshold that would trigger a public hearing.

The board adopted the resolution estimating the 2025 levy by roll call vote, 5‑0. Trustees then voted 5‑0 to receive and file the fiscal year 2025 audit and the police pension actuarial report. Staff said the levy ordinance will be filed with the counties and final levy adoption will follow the required public‑notice steps.

What’s next: Staff will prepare the formal levy ordinance for a future meeting and will file required notices; trustees indicated they plan additional budget discussions as needed.