Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Finance topic
No spam. Unsubscribe anytime.
Lisle board approves $315,000 tax abatement and hears third‑quarter financial report
Summary
Trustees approved an ordinance abating $315,000 from the 2025 corporate levy and received a third‑quarter financial presentation showing year‑to‑date general fund revenues of about $17.8 million and notable transfers to stormwater and capital funds.
The Lisle Village Board voted March 16 to abate $315,000 from the corporate fund portion of the 2025 property tax levy, a measure staff said will modestly reduce the tax burden on residents while preserving the village's fiscal position.
Deputy Village Manager/CFO Mitchell explained the abatement and said the total corporate fund levy previously approved was $538,891. "Staff recommends approval of this ordinance authorizing the abatement of $315,000 of the corporate fund portion of the 2025 property tax levy," Mitchell said. Trustees voiced support for the decision as fiscally responsible; the motion carried by roll call.
Mitchell also presented the village's FY 2025–26 third‑quarter financial report through Jan. 31. Highlights included general fund year‑to‑date revenues of about $17.8 million (77.1% of a $23.1 million budget), sales tax gains compared with the prior year and larger transfers to the stormwater fund (about $1.6 million year‑to‑date) and to capital improvements (about $2.0 million). Year‑to‑date general fund expenditures were reported at approximately $17.6 million (62% of the $28.5 million fiscal‑year budget). Mitchell said increased expenditures reflect planned transfers for capital projects and a $1,000,000 transfer to the police pension fund in FY 25–26.
Trustees thanked staff for budgeting and noted ongoing pension and water‑rate discussions will continue to be part of future deliberations.
