Politics & Government
Village Austerity Program Boosts Budget
A thrifty approach to spending works to put funds into road projects and more, reports the Chicago Tribune.
A budget presentation by Village Administrator John Downs revealed how a thrifty approach to spending has afforded necessary funds for road repair and the emerald ash borer infestation management program.
At the regular Monday night meeting, Downs told the village board that the budget for the 2013-2014 fiscal year was built on a philosophy to keep costs down. Since the mid-2000's when the economy tanked, the village has tightened its belt. Consequently, the village is now approaching pre-recession funding levels, reports the Chicago Tribune.
What makes this budget different is the fact that tax revenue sources have become more diverse. Instead of a budget built on housing starts, sales and income taxes are key revenue generators for the village.
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The Metra parking lot fee is among the list of enterprise funds that support the village, said Downs. And while the water rate is expected to rise due to infrastructure improvements, the water and sewer fund is in good shape. He warned, however, that the State's financial woes are bound to affect the municipalities.
Mayor Frank Fleischer said the austerity approach will continue. "Saving money doesn't mean you have to spend it," he said.
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Trustee John Mazzorana added that a balanced budget is comprised of revenue as well as careful workforce planning.
READ T HE FULL STORY IN THE CHICAGO TRIBUNE.
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