The Willamette, Illinois city manager recently presented the proposed 2016 budget to the village's president, trustees and residents.
The high points of the budget included the announcement that this is the fourth consecutive year that the village improved its net revenue. The conservative approach to the new budget year allows funding with positive, not projected, revenues.
The fiscal year 2016 budget is balanced with no draw upon the reserves. In fact, the budget adds $1.46 million to the General Fund Reserve, which allows for the transfer of $715,000 to the Capital Equipment Replacement Fund.
The 2016 budget funds the police, fire, public works and other services, and provides for capital funding for infrastructure improvements, including alley maintenance, renovation and repairs of brick streets, the replacement of a snow plow dump truck and a sidewalk snow plow, and replacement of four police cars.
Wage growth in the 2016 budget is projected at only 1.1 percent.
Residents' rate changes include no increase to the sewer fees and a 5 percent increase in the water rate. The property tax levy increased by only 3.34 percent, the smallest since 1997.
The budget team has examined every line item throughout the budget to find savings in every category; and the village will continue to pursue cost reduction efforts through the entire year.
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