Officials adopt FY 2018 budget with surplus
The New Lenox Village Board of Trustees adopted their fiscal year 2018 annual comprehensive budget with a surplus at their April 10 meeting.
Unanimous board action was taken following a public hearing and a presentation by Finance Director Kim Auchstetter, at which point no residents commented.
“No changes have been made since our work session on March 20,” Auchstetter said.
The village’s operating budget includes $40,866,495 in revenues and $38,596,983 in expenditures.
The general fund, according to Auchstetter, is anticipated to have a balance of $7 million by the fiscal year’s end, “which is well over the three-month operating reserve, which is always our goal.”
One of the highlights of the budget is the rebating of property taxes to residents for the eighth consecutive year. Village officials budgeted for a 75 percent rebate for a total of $1,303,000 in taxpayer savings.
Water projects will consist of design of older water mains along Route 30 and Cedar roads and initiating construction on Cedar Road water mains. Additionally, work will be performed during this budget year to repaint and improve Ferro water tower.
The budget accounts for construction to begin on Waste Water Treatment Plant No. 2 expansion with a low-interest Illinois Environmental Protection Agency loan. To add, officials intend to complete odor control design and a Wastewater Regionalization Plan.
The village is to spend more than $1.482 million on roadway improvement projects.
“It’s a little bit less than the previous year, but over the two years we are well above what our goal is,” Auchstetter said.
Spending plans are in place for designing of a new Metra station, implementation of Village branding, strategic plan updating and the hiring of a patrol officer.
Officials intend to set aside additional monies from the Vehicle and Equipment Replacement Fund to support future purchases.
Other items highlighted in the budget are expenditures to address Nelson Road extension site improvement and Aerohaven drainage issues.
Round it up
A brief recap of Village Board action April 10
Trustees approved a first read for an ordinance amending zoning for gun shops and indoor gun ranges. The matter will be up for a second read at their April 24 meeting.
New Lenox officials amended the fiscal year 2017 annual comprehensive budget. Board action intends to promote responsible fiscal spending of municipal dollars by accounting for $689,002 in unanticipated revenues and/or un-earmarked balances.
The village board approved a series of measures to allow for the development and operation of Ridgeway Gas Station on the northwest corner of Laraway and Cedar roads. The property in question was due for a second read and includes roughly 4 acres of land requiring annexation and rezoning.