The financial challenges faced by the Village are associated with maintaining excellent core service levels for residents and business owners, while expenses continue to increase faster than revenues, due to a challenging retail sales environment, decreases in State funding, and State mandates beyond the Village’s control.
Since 2017, the Village has made cumulative budget reductions of over $3.8 million. The Village eliminated 9 full time and 12 part-time positions which represented $1.2 million in reduced personnel costs and eliminated or reduced funding of various enhanced services and programs.
In 2015, the Village was on the path to having a budget deficit of more than $3 million by 2019. Due to the Village’s ongoing focus on fiscal responsibility, the Village’s 2019 budget is balanced. Moving forward, the Village will continue to face budget challenges head on and will remain focused on providing residents with a balanced budget while maintaining excellent core services.