Printer Friendly Version

Village Vision News

FY 2016 budget discussed, currently stands at $7 million

Thursday, November 12, 2015

At the Nov. 2 board meeting, trustees discussed the operating and capital budget for Fiscal Year 2016, projected to be $7,056,347. If approved, the new budget will put the village’s fiscal year in line with the calendar year.

Village Administrator David Strohl had made the suggestion for the switchover in May of 2014, and trustees agreed then in a unanimous vote.

When making comparisons between the 12-month budget for 2016 and the 2015 eight-month budget, most revenues show an increase compared to what was estimated; the same is true for expenses. The village projects an overall gain in revenues of $2,391,412 compared to 2015 estimated revenues. The village projects an overall gain in expenses of $2,638,708 compared to 2015 estimated expenses. 

During this transition the village’s eight-month operating and capital budget for FY 2015 has been in effect since May 1 and continues through Dec. 31, 2015. Previously, the village operated on a May-to-April fiscal year. Once the new calendar-year budget gets final approval, the village will return to a 12-month operating and capital budget for 2016.

For FY 2016, the general fund’s estimated beginning balance is $7 million with anticipated revenues of $5.2 million and proposed expenses of $4.8 million. The estimated end balance at the end of FY 2016 is just over $7.4 million.

The hotel/motel tax fund’s estimated beginning balance is just over $135,000 with anticipated revenues for 2016 of about $523,000 and proposed expenses of $183,000. The estimated end balance at the end of the FY 2016 is just over $475,000.

Totals for all funds (general, hotel/motel, motor fuel, and enterprise) include an estimated beginning balance of $9.4 million with anticipated revenues of $7 million and proposed expenses of $6.25 million. The estimated end balance of all funds at the end of the FY 2016 is $10.2 million, a net gain of $805,000.

Wages are proposed to increase by 3 percent as in previous years. The increase for the eight-month transitional fiscal year of 2015 was 2 percent due to the shorter year; 2 percent is two-thirds of the normal increase, appropriate since it was two-thirds of the length of a normal fiscal year. Employee pay increases are at the discretion of the administrator, whose own increase is at the discretion of the board of trustees.

One of the larger expense items in the budget is the cost of vehicles for the Macon County Sheriff’s Department, which is part of the contract. The contract, which was renewed earlier this year, calls for the purchase of two new vehicles in 2016.

Additionally, the village will apply for a $1,000 grant from the Macon County Environmental Department for spring cleanup and recycling. Expenses include a couple of major capital projects: overlay of West Forsyth Parkway to County Highway 20 is budgeted at $632,000; and $200,000 pays for a new roof for Forsyth Public Library.
The village is also obligated to meet loan payments with the Illinois Environmental Protection Agency for the water plant

in the amount of $323,250 and the pipeline for $49,150.

^ Back to Top ^

Site by HomeSight, LLC