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Forest Park officials say FY2025 likely to end with a $2 million shortfall; restaurant tax revived as a revenue option
Summary
Village finance staff told commissioners the general fund faces about a $2 million year-end deficit after state changes to use-tax distribution; officials discussed a 'places of eating' tax (1% ≈ $500,000) and asked staff for updated impact analyses and an implementation plan.
Forest Park finance staff reported that preliminary year-end projections for fiscal 2025 show the village moving from recent surpluses to “right around $2 million” in general-fund deficit, largely because state-shared revenues and one-time grants have declined.
“We had looked potentially to have a deficit of 2.9 million. Um looks like it’s going to be right around $2 million deficit for the end of this fiscal year in the general fund,” said Tish, a finance staff member who presented the forecast and who told the council the village is still conservatively estimating revenues and reconciling invoices through the June liability date.
A major revenue shock came from a January 1, 2025 change in how local…
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