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Committee reviews park and trails funds; trail investments total about $211,000
Summary
Staff presented parks and trails fund balances: parks fund shown at about $790,000, trails investment fund $211,000, and trail-investment interest year-to-date about $2,500 against a $7,000 expected annual interest figure; members discussed rolling over or retaining community-days funds.
Staff walked committee members through the documents describing current funding available for parks and trails and explained how unused allocations are treated in the village budget.
The staff member pointed to the packet and said the park fund balance was what the village board would use to feed the parks budget and noted the trail-investment account had about $211,000. "The trail then we have the investment fund that has $211,000," the staff member said. She noted interest projections for the trail fund had been budgeted at about $7,000 for the year and year-to-date interest posted at roughly $2,500. Committee members asked whether unused event allocations roll into the general fund by default and staff confirmed that, unless the committee asks to retain funds, balances revert to the general fund and are not automatically carried forward.
Members discussed whether to request a partial rollover or to keep the miscellaneous events allocation at $7,500; staff noted all departments were being asked to identify potential cuts as the village faces borrowing and budget pressures.
