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Village finance staff reports $91,967 net income for May; assets total $4.7 million
Summary
Finance staff presented the May financial statements: assets $4,706,000; current liabilities $484,000; reserves $4,223,000; May revenue $355,318; expenses $263,350; net income $91,967. Staff noted presentation changes and year-over-year comparisons.
Lake Barrington finance staff presented the village’s financial statements for the month ended May 31, 2026, reporting assets of $4,706,000 and current liabilities of $484,000. Reserves were reported at $4,223,000.
Revenue for May totaled $355,318 and expenses were $263,350, producing a net income of $91,967 for the month, the finance staff reported. The presenter explained a change in the statement format that separates adjustments and then shows an adjusted regular-operation net figure for clearer year-over-year comparison.
The staff noted that when one-off items (about $16,000 in raw work this year) are removed, the regular operating result is nearly $9,000 compared with about $155,000 the prior year, reflecting differences largely driven by apartment revenue.
No formal budget adoption or amendment was recorded in the provided transcript segment; the item was presented as the May financial report.
