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Village Council

A strong budget for 2018

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At their Nov. 20 meeting, Village Council members gave final approval to the 2018 Village budget, which was described as looking healthier than budgets of recent years.

“It’s a strong budget,” said Council President Karen Wintrow.

And for Village Assistant Manager/Finance Director Melissa Dodd, who presented the budget to Council, “This is the best budget I’ve seen since I’ve been here.” Dodd has presided over the past five Village budgets.

The vote on the second reading of the 2018 budget was unanimous, with Gerry Simms, Brian Housh and Wintrow voting yes. Absent were Marianne MacQueen and Judith Hempfling.

In a previous budget discussion, Dodd said the 2018 budget is one of the few in recent years in which the revenues of all funds are projected to exceed expenses. The total budget is $10,543,566, out of which $3,293,092 is in the general fund. The utilities, or enterprise, budgets total $5,842, 788, the special revenue funds total $1,167,986, and a new capitol project fund contains $289,700.

General Fund EXPENSES
Public Safety $1,441,602
Transfers $  930,932
Administration $  364,950
Council $  280,800
Planning $   92,808
Mayor $   57,075
Auditor $   30,600
Rental Property $   29,700
Cable $   26,550
Council Commissions $   25,000
Library $    5,500
Mediation $    7,575
Total $3,293,092

General Fund REVENUE
Income tax $1,900,000
Real estate taxes $1,011,000
State shared taxes $   235,815
Kwh taxes $   135,000
Misc receipts $   123,050
Lodging tax $    25,000
Fines and permits $    19,850
TOTAL $3,449,715

Revenues in the general fund, which funds most Village services, were substantially higher than expected in 2017, according to Dodd in a September general fund presentation to Council. While a shortfall of almost $32,000 was projected a year ago for this year, the year ended with revenues coming in about $700,000 over projections. Dodd projected similar revenues for 2018.

While some of the general fund increase resulted from the sale of a portion of the Village-owned Sutton Farm, the bulk of unanticipated revenues came from higher-than-expected Village income tax revenues, the single largest source of general fund income. In September Dodd said the uptick couldn’t be explained by any single increase in income taxes, but rather increased income tax from several companies, led by YSI/Xylem and DMS Ink.

In 2018, revenue from Village income tax is projected to be $1.9 million. In 2017, income tax revenues came in at $1,973, 459. That compares to income tax of $1,568,481 in 2016 and $1,509,003 in 2015

The 2017 general fund budget also saw an uptick in property tax revenue for the Village. Property tax revenues tend to remain steady because the number of homes remain steady; however, the uptick may be related to the number of villagers splitting their lots to build new homes, following an effort to update the zoning code to encourage more infill, Village Manager Patti Bates said at the September meeting.

The 2018 budget also shows all Village enterprise funds in the black, following several years of deficit spending in several funds, including water and electricity. However, utility fee increases in recent years have added new revenue to the funds, Dodd said.

Other agenda items from Council’s Nov. 20 meeting will be in next week’s News.

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