Village Budget Hearing
On April 2nd at 7:00pm there will be a Public Hearing at Village Hall on the Tentative Village Budget for the fiscal year beginning June 1, 2024.
We are projecting that we will end this fiscal year spending around around $200K less than we budgeted and will bring in revenues around $450K higher than budgeted allowing the Village to add around $88K to our surplus instead of the budgeted appropriation of $634K.
Major impacts on spending included a higher cost for our completed Village Hall renovations project (though we just got word that we received and additional grants of $27,800 which is not reflected in our the posted budget document, a new software package for our Building Department that will allow accommodate our switchover to electronic records, and the completed Sherri/Arcadian path lighting project (which was offset by a large grant). On the revenue side, sales, mortgage and utility taxes continued to grow at high rates, construction continued to be strong in the Village generating greater than anticipated fees, and money in the bank earned higher interest.
For next year, work on our infrastructure has the biggest impact on our budget. We continue to work on implementing the replacement of the Wesley Chapel culvert, we are continuing the design process for the Willow Tree sidewalk, we will be undertaking drainage improvements on Holland, and will be spending about $50K to cut down dead trees in our park. Many of these items will be wholly or partially offset by grants. Due to our strong balance sheet we will not be increasing taxes for the third year in a row.
You can click HERE to view the budget. In addition, the budget is available for your review at Village Hall during business hours (9am-4pm M-F). For comparison purposes, the last 14 years of Village budgets may be found HERE.
You are invited to attend, ask questions and make comments both at the meeting and via e-mail or mail. E-mailed or written submissions from residents will be read at the meeting.
Best regards,
Marshall Katz, Mayor
