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Village Vision News

Budget for 2016 approved

Thursday, December 31, 2015

After discussions that began in early November, trustees unanimously approved an operating and capital budget for Fiscal Year 2016 at the Dec. 21 meeting. The village projects nearly $400,000 more in revenues than expenses in 2016.

This now aligns the village’s fiscal year with the calendar year. Fiscal Year 2015 was an eight-month transitional budget, part of a switchover suggested by Village Administrator David Strohl in May 2014.

Comparing the two fiscal years, 2016 is a 12-month budget, while 2015 was only eight months. The village projects an overall gain in revenues of $5,467,888 compared to 2015 estimated revenues. The village projects an overall gain in expenses of $6,124,829 compared to 2015 estimated expenses. 

The village will apply for a $1,000 grant from the Macon County Environmental Department for spring cleanup and recycling. Major capital projects include: overlay of West Forsyth Parkway to County Highway 20 at $632,000, and $200,000 for a new roof for Forsyth Public Library.

The village’s loan payments to the Illinois Environmental Protection Agency for the water plant are $323,250 and the pipeline estimated payoff balance is $374,173.

All votes were Yea to adopt the annual operating and capital budget for Fiscal Year 2016. The motion carried.

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