Winnetka residents | https://www.facebook.com/photo/?fbid=587342270059040&set=a.351563583636911&__tn__=%2CO*F
Winnetka residents | https://www.facebook.com/photo/?fbid=587342270059040&set=a.351563583636911&__tn__=%2CO*F
At its Nov. 15 meeting, the Village of Winnetka board discussed the proposed budget for the fiscal year of 2023.
Finance director Tim Sloth gave a brief overview of the process of creating, adopting, and presenting the budget before the fiscal year begins.
“The budget is balanced by following our budget policy,” Sloth said. “The operating expenditures are fully funded by operating revenues and not relying on the use of fund balances or one-time revenue sources to fund annual recurring operating expenses.”
Sloth also gave some highlights from the budget. He said that the budget is balanced and there will be no increase in property taxes in the village for the ninth year in a row. The total budget is $93,819,564 which is an operating increase of 5.1%.
The capital portion of the budget totaled $27.5 million which includes funding for roadways, sidewalks, and bridge improvements, stormwater infrastructure, downtown revitalization, and sanitary sewer infrastructure among other projects. There were no comments or questions from residents in the public hearing, however the board members asked a few questions of Sloth before commending him on nine straight years of a flat tax rate in the village.
The board also discussed using Illinois’ Motor Fuel Tax (MFT) for the village’s share of the Professional Engineering Design Services. The agenda noted the village will use up to $125,000 in its 2023 budget. It noted the village has approximately $3.6 million in MFT.
The village council will meet again at 7 p.m. on Tuesday at the Village Hall on 510 Green Bay Rd. on the second floor.
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