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Treasury report: property tax receipts boost early-year finances, staff reports $812,000 surplus
Summary
Staff told the village board that property tax receipts and steady sales taxes produced $812,000 in revenue over expenditures for the first two months of the fiscal year, with $336,000 in property-tax receipts and strong unrestricted balances in reserve.
Staff member presented the village treasury report and said the fiscal year has gotten off to a strong start, with property-tax receipts arriving in June and supporting principal distributions from the county. "Property tax revenue, $336,000," the staff member said, and reported that revenue over expenditures for the first two months totaled $812,000.
The presenter detailed fund balances, saying that pool cash stood at $10,804,000 and the Illinois fund balance was $14,025,039.14. He also said water and sewer expenses were running nearly $200,000 below what had been anticipated because some initial engineering costs came in lower than budgeted. The staff member flagged upcoming meetings about water and sewer user fees.
The chair and trustees did not object to the report; a motion to accept the treasury report was seconded and approved by voice vote. The board will continue budget monitoring and hold follow-up sessions focused on user-fee recommendations.
