Flossmoor trustees unanimously approved the village’s 2023-24 budget during the regular meeting April 17. The total budget includes $28.7 million in revenues and $38.1 million in expenses, but Village Manager Bridget Wachtel explained that the difference will be made up with fund balances, including money that had been set aside[Read More…]
Tag: Flossmoor budget
Flossmoor reviews planned capital equipment expenses ahead of FY24 budget approval
The latest stop on Flossmoor’s road to fiscal year 2024 budget approval: capital equipment. Village Manager Bridget Wachtel presented Monday, March 20, to the village board about Flossmoor’s planned capital equipment expenditures. The village’s fiscal year runs from May 1, 2023, to April 30, 2024. The village’s capital equipment fund[Read More…]
Flossmoor Village Board reviews additional funding proposals ahead of FY24 budget
When Flossmoor staff prepares the annual budget, the process first addresses the known quantities, the annual expenses and revenues, and the predictable, scheduled updates — or the “status quo,” as Village Manager Bridget Wachtel puts it. But sometimes new items come along in the process, and the village reviews those[Read More…]
Flossmoor Village Board approves $33.83 million total budget for fiscal year 2023
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…]
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…]
Newsletter
