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Bond timing, planned fund balance use leaves Flossmoor with $3 million FY22 deficit on paper

Flossmoor’s budget for Fiscal Year 2022 is projecting what appears on paper as a total deficit of $3.08 million, but it is largely attributable to 2021 streets and storm sewer projects being funded by the proceeds of a $10 million bond sale that took place at the end of FY21.

The Flossmoor Village Board voted unanimously Monday, April 19, to approve the budget, which calls for $29.02 million in total expenditures from May 1, 2021, to April 30, 2022, compared to $25.96 million in expected revenues.

The general fund accounts for . . .

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