Village will show a 2016 budget with a positive fund balance
The final numbers for 2016 will show a positive fund balance of 25 percent, which is well-above the Village of New Lenox’s goal, Village officials said during the April 24 regular meeting.
The money is still being counted, but enough of the 2016 revenues and expenditures have been totaled to get a grasp of the year-end balance, said Finance Director Kim Auchstetter. There will be a positive fund balance.
“I don’t expect any surprises,” she said.
The actual balance is not counted at the end of the year because revenues and expenses that are accounted for in 2016 stretch into the next year.
Auchstetter said the Village is still awaiting the closing of property sales on Route 30 and Cedar Road near the Metra train station.
“The timing of that, I’m not sure,” she said.
The Village is now going through its annual audit and looking to finalize the comprehensive annual financial report, and only when that is done will the exact balance from the 2016 fiscal year be known. Auchstetter said it could take until Oct. 31.
What’s more is New Lenox officials unanimously approved a contract with BKD CPAs & Advisors to perform its annual audit for the fiscal year ending April 30.
The Village submitted request for proposals to six auditing firms and five responded.
“BKD was the lowest respondent, but [it’s] not just cost [we’ve taken into consideration,]” Auchstetter said. “We also researched the references and made sure that they had positive references.”
Mayor Tim Baldermann gave thanks to McGladrey for the auditing services they’ve performed for the Village over the years.
“They’ve done a great job by us, and I’m sure we’ll get the same [service,] here, with [BKD,]” Baldermann said. “… It will be nice to see a fresh set of eyes in here and one that was vetted and that we’re confident in.”
Trustee Doug Finnegan was absent from the meeting.
Round it up
A brief recap of action from the April 24 meeting of the New Lenox Village Board
Trustees unanimously approved a measure amending Village ordinances to provide regulation for the zoning of gun shops and indoor gun ranges. The code stipulates that such special uses are allowable in the C-3 General Business District, C-7 Regional Shopping District and I-1 Limited Industrial District.
The Village Board agreed to pass an ordinance creating the Class TE liquor license for summer concerts in New Lenox.
Tickets for the Village of New Lenox’s Triple Play Concert Series will go on sale 7 a.m. May 13 at Village Hall. Residents can purchase up to eight tickets.