2022 Budget Public Hearing
There will be a public hearing on the proposed 2022 Village budget at Monday night's regular Village Board meeting the 7:30 p.m. via zoom. The draft budget is available on-line here.
The total expenditure budget for fiscal year 2022 is $53,544,694, which represents a 4.27% increase from last
year’s budget. This year’s expenditure increase is primarily due to increased capital project funding.
As part of this year’s budget planning process, the Village Board established a two-year capital plan that would total approximately $19.5 million over 2022 and 2023, depending on federal grant dollars received. That includes a $7 million bond issuance and $7,385,000 of expenses from the 2022 Infrastructure Replacement Fund.
The operating component of the budget is $31.96 million, which is a 2.77% increase from the prior year. The increase in the operating component is due primarily to contractual increases in personnel services, and other contractual services and commodities.
Owners of a $500,000 home will see an increase of $20 from the Village's portion of the property tax bill. The Village Board will vote on the budget on November 15.