Community Updates Home
The original item was published from 11/20/2020 2:58:13 PM to 1/31/2021 12:00:03 AM.

Community Updates

Trending News

Posted on: November 20, 2020

[ARCHIVED] 2021 Budget Approved by Lombard Village Board

News Item Village Logo

On November 19, 2020, the Lombard Village Board approved a balanced 2021 Budget and the 2020 Property Tax Levy. The 2021 Budget for all funds is $89.6 million, which reflects a decrease from the 2020 budget by $5.5 million or 5.78%. The 2020 Property Tax Levy will increase $354,239 or 3.52%, which translates to an increase of approximately $6.73 for the owner of a $300,000 home.

The 2021 General Fund budget of $43.2 million reflects a decrease in spending by $921,622 or 2.09% from the current FY 2020 Budget of $44.1 million. This decrease is consistent with the Village's pro-active approach to facing Lombard's long-term budget deficit and the deficit caused by COVID-19.

In 2016, the Village’s projected budget deficit for 2020 was estimated to be at more than $4 million. However, due to action taken by the Village Board, the Village’s budget remains balanced. The Village’s continued focus on fiscal responsibility includes:

  • Saving more than $660,000 in the General Fund for 2020 due to 11 vacated positions that have been frozen and remain unfilled. These positions will remain unfilled, saving an additional $758,500 in 2021. 
  • Reducing expenses that were previously approved for the 2020 budget by more than $446,000.
  • The 2019 Village Board approval to allow cannabis dispensary facilities in Lombard. On August 20, 2020, the Village approved an application for a recreational cannabis facility to open at 738 E. Butterfield Rd. It is estimated that this facility may generate more than $350,000 in tax revenue in 2021.
  • Responsible funding of the Village's reserve fund for unforeseen financial crises. 

The Village continues to face unexpected challenges caused by the COVID-19 pandemic, including unprecedented workplace disruptions, fiscal crises, and a public health emergency. The Village's spending reductions are one step in facing uncertain revenues, unfunded liabilities, and the reallocating of budget resources to prioritized services.  

"We have presented a balanced 2021 budget despite the unforeseen impacts of COVID-19," said Reid Foltyniewicz, Trustee and Chair of the Village's Finance and Administration Committee. "It is our responsibility to rise to the occasion, and we remain focused on the challenges ahead."  

As a result of COVID-19, the Village estimates the year-end 2020 deficit caused by the pandemic will be nearly $2.43 million, with an additional deficit of $539,000 in 2021. The Village Board approved the use of Village reserve funds to help close the remaining $2.97 million budget deficit. For detailed information on the 2021 Budget, Capital Improvement Plan, and 2020 Property Tax Levy, please visit www.villageoflombard/budget. The new fiscal year begins on January 1, 2021.

Facebook Twitter Email

Other News in Trending News

Tis the Season for Safety 395

Holiday Shopping Crime Prevention Tips

Posted on: November 28, 2023
Thanksgiving Enforcement Results graphic with drive sober logo

Thanksgiving Enforcement Results

Posted on: November 28, 2023
Keep the Wreath Red - 395

Keep the Wreath Red This Holiday Season

Posted on: November 15, 2023
Holiday Light Recycling (395 x 305 px)

Holiday Light Recycling

Posted on: November 20, 2023
Hand holding paper gift bags with text about shopping small and local

Shop Small this Small Business Saturday

Posted on: November 21, 2023
raking leaves

Lombard's Free Leaf Collection Program

Posted on: October 17, 2023
Colorful fall leaves on storm drain inlet

Help Keep Leaves Away from Storm Drains

Posted on: October 24, 2023
9M Routine - General  (395 x 305 px)

Prevent Thefts With the 9PM Routine

Posted on: October 6, 2023
FOIA book on table with white keyboard

Village Launches New FOIA Platform

Posted on: September 6, 2023