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Swansea trustees forward proposed tax levy to board after debate over reserve levels and proposed economic director
Summary
Trustees voted to forward a draft tax levy to the full board for a public hearing after staff presented the levy and trustees pressed staff to explain unusually large general fund reserves and a proposed $150,000 personnel addition for an economic development director.
Trustees on the Village of Swansea’s finance committee voted to forward a draft property tax levy to the full board for a public hearing after a lengthy discussion about the village’s reserve balances and proposed new personnel costs.
Staff presented a draft levy and a primer on how levy amounts translate to individual tax bills. The presentation included a proposed $150,000 increase to the corporate/general fund tax to cover new personnel the board has discussed, including an economic development director and a part-time communications position, and noted an Illinois Municipal Retirement Fund contribution estimate increase from 9.44% to 10.19% for 2026.
Why it matters: trustees and several residents said the timing and size of the increase matter because the village’s audited unassigned general fund balance was reported at $6,838,000 as of the April 30, 2024 audit. Trustee Tubano raised the code-based concern that the village may be holding reserves “in far excess of our code” and asked staff to produce the audited balances and code interpretation for follow-up. Staff said they would look into the discrepancy and provide clarification to the board.
During the meeting trustees debated whether to delay new hires or trim the proposed levy. Supporters of the economic director argued the position could help recruit businesses and increase sales-tax revenue over time; critics urged caution and suggested using existing reserves or delaying hiring until the board has more concrete fiscal projections.
A motion to forward the draft levy to the full board for formal advertisement and a public hearing passed after a second; trustees agreed that staff should prepare clearer, low/medium/high household examples for the village website ahead of the hearing. The board directed staff to publish the levy as presented so it can be advertised in the local paper and scheduled the public hearing for the special meeting that staff said will begin at 5:30 p.m.
What’s next: staff will provide the requested audit figures and code references, publish the levy materials and household examples online, and the board will hold the advertised public hearing before final action.
