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Treasurer reports stronger property-tax receipts but flags Cook County timing delays
Summary
The treasurer reported general-fund property-tax receipts up $1.9 million versus last year and reserves of $15 million (51.2% of budget), but noted Cook County delays in disbursement timing that create cash-flow uncertainty and a two-month delay for second-installment bills.
The village treasurer reviewed the May financial report, highlighting stronger property-tax receipts versus the prior year and solid reserve levels while warning that county disbursement timing remains uncertain.
Treasurer's figures showed general-fund property-tax receipts higher than the prior year by about $1.9 million and fund reserves at roughly $15 million, or 51.2% of target. The treasurer also reported that sales tax, use tax, ambulance fees and sewer charges were higher than the prior year for the month, and that building permits are running ahead of budget (an estimated $756,000 over budget). Expenditures across the general fund remain below the year-to-date target (approximately 38.5% of budget at five months).
Staff cautioned that Cook County announced a two-month delay in mailing second-installment tax bills (previously a one-month delay), which creates timing uncertainty for receipts and cash-flow planning. Auditors and staff said the village used estimates where county reporting is delayed and that any true-up will be processed in the current fiscal year.
The treasurer's presentation also flagged grocery-tax disbursements as volatile and noted the village has access to Department of Revenue data under confidentiality agreements for internal review if staff chooses to request retailer-level detail.
