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Cherry Valley treasurer reports $59,000 General Fund surplus for May
Summary
Treasurer Maureen Gumowski told the Village Board that May 2025 General Fund revenues of $638,000 exceeded expenditures of $579,000 by $59,000; the board placed the report on file and heard the quarterly investment update noting the federal funds rate at 4.25%–4.5%.
Village Treasurer Maureen Gumowski presented the May 2025 financial report to the Village Board on June 3, saying the General Fund had revenues of $638,000 and expenditures of $579,000, a surplus of $59,000. She reported the Water Fund showed revenues of $154,000 versus expenditures of $86,000 (a $68,000 surplus) and the Capital Improvements Fund had a $3,000 surplus ($21,000 in revenues and $18,000 in expenditures).
Gumowski also presented the quarterly investment report and noted that the Federal Reserve had held the federal funds rate at 4.25% to 4.5%. President David Schroeder said, "The Treasurer's Report will be placed on file with the minutes." The board took no further action beyond placing the report on file.
