Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Municipal Budgeting topic
No spam. Unsubscribe anytime.
Treasurer outlines Hometown revenue outlook, warns of possible state LGDF cut
Summary
Treasurer Roti told the Finance Committee the city’s budget assumes MFT allotments and a $300,000 sewer grant, flagged a proposed state reduction to LGDF funding, and said sales tax is strong while use tax has fallen.
Treasurer Roti told the Finance Committee of the City Council of the City of Hometown on Feb. 24 that the city’s revenue forecast incorporates Motor Fuel Tax allotments, CDBG reimbursements and a $300,000 sewer grant while some state-level changes could reduce local distributions.
"The state is proposing to decrease the LGDF (money from the state per capita). It is all on the IML website," Roti said, adding that if the proposal passes municipalities will have to make up the shortfall. Roti also said the city shares MFT numbers with Mark Trlak and City engineer Mark Volk so departments know what is available to spend.
Roti reported sales tax collections are "going pretty well" even as use tax receipts have declined, and noted video-gaming receipts are rising: "We budget 90% so that is really good." She said the sewer budget includes a $300,000 grant and that the city is assuming Chicago will raise water rates by about 4% this year; penalties are expected to be lower because of the Water Affordability Grant.
The treasurer said several departmental budgets remain outstanding: the library has submitted only a wish list, and staff are still waiting for Police and Public Works budgets. Roti also noted that Nicor and ComEd revenues vary seasonally and that some miscellaneous revenues are being reclassified into proper accounts.
