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Board reviews 2025 budget, long-term debt and fund balances; notes added to reports
Summary
Trustee Dave Borchardt presented Finance Committee reviews of the 2025 budget, a breakdown of village long-term debt and account investment balances; notes were added to explain variances and to help project future budget years.
The Random Lake Village Board reviewed several financial reports at its Jan. 19 meeting, including a 2025 budget review, a long-term debt breakdown and a report on fund investments.
Trustee Dave Borchardt told the board the Finance Committee examined the 2025 budget reports and added notes explaining items that were over or under budget. He also presented a long-term debt report showing beginning balances, annual payments, interest rates and ending dates, saying the document can be used to project future budgetary obligations. Borchardt reviewed fund balances across accounts and noted substantial changes between January and December where applicable.
The meeting minutes record the presentations but do not show line-item figures, total debt amounts, or a detailed timeline for any debt repayment or refinancing actions. The minutes note that the documentation is intended to inform future budgets; no formal budget amendments or policy decisions were made at the meeting.
