Pound Adopts Village BudgetIssue Date: November 25, 2020 At a sparsely attended budget hearing and special meeting on Thursday, Nov., 12, Pound Village Board adopted a budget for 2021 that requires a local property tax levy up only 2.052 percent from last year. the budget is balanced, with $378,257 of projected income and the same amount allocated for outgo. This is up approximately $40,000 from the 2020 budget, which allocated $338,030 for total income and expenses.
Planned expenditures include $83,075 for general government, down from $95,795 last year. The public safety allocation is up slightly, from $57,553 to $60,064. Largest increase is in the allocation for public works, which is up from $73,104 to $86,340. The budget provided $102,628 for debt payments in 2020, and there is a slight increase to $$106,429 for debt service in 2021, plus $63,795 for debt service related to the TIF District.
The TIF (Tax Increment Financing) District is expected to produce revenue of $19,358 plus $44,587 in "other financing" for a total revenue of $63,945, which is equal to the amount allocated for expenditures in the TIF.
The revenue portion of the budget anticipates $196,875 in state aid, up from $179,317 last year.
The only member of the public who attended the 5:30 p.m. budget hearing was Kevin Schutte, who is a former village president and former director of public works.
Present in addition to Schutte were Trustees Mary Meyer, Mike Rogodzinski and Wayne Gross; Village president Terry Earley, and Clerk/Treasurer Diane Patz. Trustee John Homontowski participated via telephone.
Earley presented the proposed budget to be reviewed and changes made if necessary. Schutte asked why they had budgeted $11,500 for street lights, and Gross explained this was done because they are looking into saving in electric costs in the long run by switching to LED lights.
The budget and related tax levy were then approved with all five board members voting in favor. Tax bills are expected to go out in early December.
Recent stories, opinions and photos
|
| |
|
Yes
No
Undecided
