North Cook News

The Village of Roselle board discussed the tentative 2023 village budget earlier this month.

During a Nov. 7 village board meeting, finance officials gave a brief overview of the budget, with expected revenues for next year decreasing by 1.3% and expected expenditures increasing almost 4%. The ending fund balance will still be in the positive with a growth of just under .2%, and the board continues to surpass the 45% reserve goal with 55% in reserves. 

The end of the FY2022 budget does look promising with an expected $1 million surplus after the village’s completed goal of transferring $750,000 to the general fund. Officials are expecting some sort of downturn with the rising inflation and project costs, but with the current status of the budget they should be able to handle it.

A few of the key factors that went in to determining aspects of the 2023 budget included the looming recession in the economy, along with the maxed out property tax at 5% despite CPI being 7%. It also includes the .45 cents increase on water-sewer prices and estimated inflation prices for goods included in the village’s capital improvement projects for 2023.

"Property taxes there will be about 27,000 less than we threw into the budget. Actually, the EAV for Cook County decreased by $8 million, which was a surprise," Roselle Director of Finance Tom Dahl said at the meeting.