The village board voted unanimously Monday, April 18, to approve its FY23 budget, with $33.83 million in total expenditures and $27.36 million in expected revenues, calling upon $6.46 million from the village’s fund balance to bridge the total gap. The 2021 streets storm sewer improvements has a fund balance use[Read More…]
Tag: Flossmoor budget
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.[Read More…]
More for its money: Flossmoor touts ‘fabulous rate,’ higher proceeds on bond sale
Flossmoor’s voter-supported $10-million bond sale and the refinancing of more than $2 million worth of 2013 bonds is close to being a done deal. Finance Director Scott Bordui delivered what he called “fantastic news” during a regular meeting of the Village Board held Monday, March 15, regarding Flossmoor’s two-purpose issue[Read More…]
Flossmoor examines water and sewer, general funds in preliminary FY22 budget discussion
Following months of virtual-only meetings with COVID-19 mitigation in mind, the Flossmoor Village Board got back to a combination of in-person and virtual meeting attendance on March 1. And its first order of business was a lengthy discussion about the village’s preliminary budget for fiscal year 2022. Village Manager Bridget[Read More…]
Flossmoor aims to refinance 2013 bonds to save $184K, retools design engineering contract
The Village of Flossmoor is looking to save money by refinancing a 2013 bond issue that could mean a total of $184,591 in savings over the 11 years of the bonds’ lifespan — though the exact amount depends on rates at the time of the sale. The village board voted[Read More…]
Flossmoor financial position better than expected amid pandemic but concerns loom
Flossmoor’s expenses are down and revenues higher than expected thus far in 2020, but while village officials are celebrating those short-term savings, concerns for the future remain. Village Manager Bridget Wachtel presented Flossmoor’s Fiscal Year 2021 Mid-Year Financial Review during the Dec. 21 regular meeting of the board of trustees,[Read More…]
Savings in village funds point to upbeat budget picture in Flossmoor
Flossmoor kicked off its annual budget process with a note of optimism following a year that brought mostly positive news about the village’s fiscal well-being. That good news, however, was tempered by nagging concerns about the best way to make municipal ends meet when revenues are stagnant and the community’s[Read More…]
Water meter project nears completion with $1.7 million budget funding
A year from now, it’s likely every home in Flossmoor will have a new water meter, a change that could significantly reduce water loss in a notoriously leaky system. The new village budget, approved April 15, includes $1,726,577 for the installation of 1,895 residential water meters in Flossmoor. You’ve reached subscriber-only content[Read More…]
