ELMWOOD PARK — The tax rate for the village is projected to decrease ever so slightly while expenditures are expected to increase slightly for 2020, the village administrator reports.
The proposed 2020 budget is scheduled to be presented to the full Village Board and public at Thursday’s Village Board meeting, scheduled for 6:30 p.m. at the village offices at the Taylor Complex, 3131 Taylor Ave., Building 3.
According to Village Administrator Christophe Jenkins, this is the first budget created since the inception of the Village Board’s Finance Committee that includes Village President Ernie Rossi, Finance Chair Laura Rude and Jenkins. This is also the first budget since the village adopted its five-year strategic plan earlier this year.
Village expenditures for 2020 projected at $449,022, 2% more than the $442,156 budgeted for the current year.
The assessed value of the entire village has increased slightly, from $39,674,500 to $39,766,400.
And, through a combination of revenue increases in some areas and spending cuts in others, the total village levy is increasing ever so slightly, from $194,494 to $194,718.
The next result is that the property tax rate village residents will pay for municipal services will drop one cent, from $4.90 per every $1,000 of property value to $4.89. Property tax bills arrive in December.
Proposed capital improvements for next year covered in the budget include:
- $20,000 for two furnace replacements within the Taylor Complex.
- $8,000 for villagewide wayfinding signs and signage for Taylor Complex.
- $6,000 for continual patching and resurfacing of poor areas of village streets.
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The budget also puts aside funds for future needs in the village:
- For the first time since its creation in June 2016, investing $5,000 into the local government investing pool for the replacement lift station account.
- Investing $20,000 into local government investing pool savings account.
- An inaugural investment of $500 into the village’s new tree surety account to launch the new program for resident use in 2020. The fund is to be used solely to encourage residents to plant trees by allowing them to apply for an up to $50 reimbursement per qualifying tree.
Revenue increases came in the form of:
- 4% revenue increase in intergovernmental revenues received from the state.
- 32% revenue increase in licenses and permits due to increased construction environment.
- 150% revenue increase in interest income from LGIP investments.
- An 18% expense decrease in office supplies due to a more accurate accounting of actual costs.
- 19% expense decrease in overall public works spending due to work being done in-house and budgeted LED conversion savings.
Spending increases include:
- An 89% expense increase in election wages and expenses to account for a four-election year.
- A 60% expense increase in printing, publications, and marketing to account for increased newsletters and communications to residents.
Jenkins said he and the Village Board also are continuing discussion on the means to begin milling, overlay, and reconstruction work on Oak Tree Lane, East and South Elmwood Drive and Elm Tree Court.
This story has been edited since publication to correct headlines that incorrectly indicated that the village administrator's budget presentation was an official budget hearing, which won't take place until November.