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Shorewood trustees get Quarter 1 finance update as long-range plan tackles water, lead lines and rising debt pressure
Summary
Contracted Finance Director David told trustees Q1 revenue and expenditures are tracking to budget, but staff warned of watch items (police overtime, benefits) and outlined a conservative long-range plan that prioritizes lead service line replacement, critical sewer work and coordinated road projects while exploring financing options including revenue bonds.
Contracted Finance Director David told the Business & Finance Committee on May 4 that the village’s Quarter 1 finances are within expected ranges and that no structural budget problems have emerged from three months of results. Revenues were tracking to plan and expenditures reflected timing variances from front-loaded contracts, subscriptions and insurance payments, he said. David flagged two watch items in the police department—overtime (about 25% of the year-to-date budget) and benefits (roughly 25.9%)—and said staff will continue to monitor both.
Why it matters: trustees began a budget kickoff for the 2027 long-range plan and underscored growing capital needs. Director Hickey told the Committee of the Whole that the village faces rising…
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