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Finance committee reviews draft budget and told to trim spending to meet state cap
Summary
On Sept. 30 the Village of Bloomington Finance & Purchase Committee heard a detailed budget presentation from Jay Bennett of Johnson Block and was advised to reduce budgeted expenses to remain under Wisconsin’s expenditure restraint cap and qualify for state incentive aid.
The Village of Bloomington Finance & Purchase Committee met Sept. 30, 2024 at 4:00 p.m. to review the draft budget for the coming year. Jay Bennett of Johnson Block presented a detailed breakdown of proposed revenue and expenditures and advised the village on how to remain eligible for state incentive aid by staying under the State’s expenditure restraint cap.
Bennett outlined revenue and expenditure projections and “advised the Village on how to stay under the State’s expenditure restraint cap to qualify for incentive aid, which involved reducing budgeted expenses,” according to the minutes. Committee members Robert McLimans, Dawn Drew, Al Mergen and Dennis Moris discussed options and identified areas where adjustments would likely be needed; the minutes record discussion but do not list specific line-item decisions. The committee did not record a formal vote on budget lines at this meeting; next steps and any specific reductions were not specified in the minutes.
